experienced a $159.4 million net loss that the company said was "primarily driven by investments to the development of the future fleet and enhancements for the current fleet," along with total revenues of $392 million. Net losses have also occurred during each of Virgin Galactic’s fiscal years since its IPO in 2019, SEC filings showed.
Virgin Galactic VSS Unity space plane is seen on a fragment of a Virgin Galactic Unity 22 Spaceflight Livestream Youtube video displayed on a smartphone with the Virgin Galactic logo in the background.The most recent test flight to have occurred other than May’s was one in July two years ago that flewand several others.
next generation of spacecraft as expected to be the "key driver of revenue growth and profitability as [Virgin Galactic] scale[s] the business over the long term." The Delta-class ships, for which the company is currently targeting 2026 for their commercial debut, are expected to bring in at least $2.7 million in revenue for each suborbital trip they make based on $450,000-per-ticket prices, CFO Douglas Ahrens said at the time.
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Source: Reuters - 🏆 2. / 97 Read more »