In This Article:
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Revenue (Q4 2024): $400,000 from future astronaut membership fees.
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Total Operating Expenses (Q4 2024): $82 million, down from $117 million in the prior year period.
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Adjusted EBITDA (Q4 2024): Negative $63 million, improved from negative $84 million in the prior year period.
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Free Cash Flow (Q4 2024): Negative $117 million.
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Revenue (Full Year 2024): $7 million, driven by two commercial spaceflights and membership fees.
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Average Ticket Price (2024): $800,000 per seat, up from just over $300,000 in the prior year.
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Total Operating Expenses (Full Year 2024): $384 million, a 29% reduction from $538 million in the prior year.
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GAAP Net Loss (2024): $347 million, a 31% improvement from $502 million in the prior year.
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Adjusted EBITDA (Full Year 2024): Negative $289 million, a 32% improvement from the prior year.
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Cash, Cash Equivalents, and Marketable Securities (End of 2024): $657 million.
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Projected Revenue (Q1 2025): Approximately $400,000 from astronaut membership fees.
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Forecasted Free Cash Flow (Q1 2025): Negative $115 million to $125 million.
Release Date: February 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Virgin Galactic Holdings Inc (NYSE:SPCE) has completed the design phase of its new spaceships and is on track to begin assembly, with the first commercial research spaceflight expected in summer 2026.
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The company has transitioned from an R&D-focused entity to one that builds real assets, with a focus on safety, rapid reusability, and cost efficiency.
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Virgin Galactic Holdings Inc (NYSE:SPCE) has developed a powerful hybrid rocket system with outstanding safety features, showcased in the Smithsonian.
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The company has made significant infrastructure investments, allowing for quick and cost-effective addition of ships to its fleet.
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Virgin Galactic Holdings Inc (NYSE:SPCE) has a strong financial position with $657 million in cash, cash equivalents, and marketable securities, and has reduced operating expenses significantly.
Negative Points
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Virgin Galactic Holdings Inc (NYSE:SPCE) reported a revenue of only $400,000 for the fourth quarter of 2024, indicating limited income from operations.
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The company continues to experience negative free cash flow, with a forecasted range of negative $115 million to $125 million for the first quarter of 2025.
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Despite progress, the first private astronaut spaceflight is not expected until fall 2026, indicating a long timeline before significant revenue generation.
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The company is still in the investment phase, with substantial capital expenditures expected in 2025 for tooling and manufacturing capacity.
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Virgin Galactic Holdings Inc (NYSE:SPCE) faces risks and uncertainties related to the execution of its ambitious plans, as highlighted in their SEC filings.