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Virgin Galactic — Third Quarter 2026 Earnings Summary

  • **Financial Results:** Q3 revenue remained flat at $0.4 million year-over-year; GAAP operating expenses fell to $59 million from $67 million, driving a net loss improvement to $59 million from $64 million and adjusted EBITDA improvement to $(47) million from $(53) million.
  • **Operational Progress:** Spaceship Apeiron has arrived at Spaceport America, with the first glide flight scheduled for January 2027 and the first commercial spaceflight targeted for early Q2 2027.
  • **Future Outlook & Guidance:** Management projects Q4 2026 free cash flow between $(80) million and $(90) million, with a second spaceship expected to begin commercial flights in late Q2 or early Q3 2027.
  • **Strategic Milestones:** Construction of the Arizona rocket motor production facility is complete, and total liabilities decreased to $403.5 million from $529.2 million as of year-end 2025.
Company
VIRGIN GALACTIC HOLDINGS INC
Sector
Industrials
Industry
Aerospace & Defense