UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-38202 ____________________________ Virgin Galactic Holdings, Inc. (Exact name of registrant as specifi ...

Revenue Performance - Revenue for Q4 2023 was $3 million, up from $1 million in Q4 2022, driven by commercial spaceflights and membership fees[6] - Full year 2023 revenue reached $7 million, compared to $2 million in 2022[6] - Revenue for Q1 2024 is expected to be approximately $2 million, with free cash flow projected to be in the range of $(125) million to $(135) million[11] Net Loss and Financial Improvement - Net loss for Q4 2023 was $104 million, an improvement from a net loss of $151 million in Q4 2022, primarily due to lower operating expenses[6] - Net loss for the full year 2023 was $502 million, slightly higher than the $500 million net loss in 2022[6] - The company reported a net loss of $103,984 for the three months ended December 31, 2023, compared to a net loss of $150,820 for the same period in 2022, indicating a 31% improvement year-over-year[17] Operating Expenses - Total operating expenses for Q4 2023 were $117 million, down from $154 million in Q4 2022[6] - Total non-GAAP operating expenses for the three months ended December 31, 2023, were $100,370, down from $139,842 in the same period of 2022, representing a 28% decrease[21] - The total operating expenses for the year ended December 31, 2023, were $538,309, up from $502,296 in 2022, indicating a 7% increase[21] Cash Position and Flow - Cash position as of December 31, 2023, was strong at $982 million, including cash, cash equivalents, and marketable securities[6] - The company had cash, cash equivalents, and restricted cash of $253,592 at the end of the period, down from $342,627 at the end of the previous year[18] - Free cash flow for the three months ended December 31, 2023, was $(113,677), compared to $(135,425) for the same period in 2022, showing a 16% improvement[22] - The company experienced a net cash used in operating activities of $(95,309) for the three months ended December 31, 2023, compared to $(131,242) for the same period in 2022, reflecting a 27% improvement[22] - The forecasted net cash used in operating activities for the three months ending March 31, 2024, is estimated to be between $(85,000) and $(90,000)[22] Capital Expenditures - Capital expenditures for the three months ended December 31, 2023, were $18,368, significantly higher than $4,183 in the same period of 2022[22] Future Plans and Developments - The company plans to deliver the first parts for the Delta Class spaceships ahead of assembly in 2024, with commercial service expected in 2026[5] - The spaceship factory in Arizona is on track to open in mid-2024[11] - The company successfully completed six human spaceflights in six months during 2023[5]

Share prices of Virgin Galactic (SPCE -3.65%) have fallen roughly 60% over the past year. The stock is down over 95% from its highs in 2021. Contrarian investors might view that level of pessimism as an indication that there's a buying opportunity here. Be careful; there are also very big risks. Here are three things you need to know before you buy this deeply out-of-favor space stock.1. Red ink on top of red inkThe first big thing that any investor in Virgin Galactic needs to understand is that this compan ...

In space, no one can hear a pin drop.Richard Branson’s Virgin Galactic was forced to ground its rocket after a part fell off during its first space tourism flight of 2024. The “alignment pin detached” during its most recent spaceflight, Galactic 06, on Jan. 26, the company announced Tuesday.The pin was used to hold together the two halves of the Virgin Galactic spaceship — the “mothership” VMS Eve that pilots the voyage and the rocket that carries tourists into outer space.Eight people were on board when t ...

In the latest trading session, Virgin Galactic (SPCE) closed at $1.76, marking a -0.56% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.06% for the day. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.24%.Prior to today's trading, shares of the company had lost 23.04% over the past month. This has lagged the Aerospace sector's loss of 0.13% and the S&P 500's gain of 6.45% in that time.Market participants w ...

Virgin Galactic is working with regulators to investigate an issue with an alignment pin that was discovered after the last crewed suborbital flight in January.During post-flight reviews, Virgin said it discovered that an alignment pin had detached from VMS Eve, the aircraft that carries the suborbital space plane to altitude. The company notified the U.S. Federal Administration of the anomaly, and the two are conducting a review, which is standard procedure for issues that arise during a commercial launch. ...

Virgin Galactic Holdings Inc. said late Monday that an alignment pin became detached from a portion of the mothership-launching apparatus during a recent spaceflight, but that there was no “safety impact” to the spaceships, on-board crew or people on the ground. Virgin Galactic SPCE, -4.60% said that the problem was detected after a routine post-flight review following the Galactic 06 flight last month. The company reported the issue to the Federal Aviation Administration and is conducting its own revie ...

ORANGE COUNTY, Calif.--(BUSINESS WIRE)--Virgin Galactic Holdings, Inc. (NYSE: SPCE) (the “Company” or “Virgin Galactic”) today announced that during routine post-flight reviews following its most recent spaceflight, ‘Galactic 06,’ the Company became aware that an alignment pin detached from the launch pylon of our mothership, VMS Eve, during flight. The Company notified the Federal Aviation Administration (FAA) on January 31 in accordance with regulations and is conducting a review in conjunction with the F ...

Virgin Galactic Holdings Inc. is set for a major cash-flow boost when its new Delta-class spacecraft enters service in 2026, according to T.D. Cowen. In a note released Monday, T.D. Cowen analyst Oliver Chen described Virgin Galactic SPCE, -4.64% as “the new spaceline community blasting off to positive cash flow in mid-2026.”The space-tourism company recently completed the penultimate mission of its Unity spacecraft before it halts commercial operations to develop its new Delta-class spacecraft. Flights are ...

Shares of Virgin Galactic Holdings Inc. are up 3.9% in premarket trades Thursday, after sliding over the last two days.  The stock is down five of the last six days and ended Tuesday’s session down 6.8%, registering its biggest daily percentage decline since Jan. 16, when it fell 7.6%. Last week the space-tourism company completed the penultimate mission of its Unity spacecraft before it halts commercial operations to develop its new Delta-class spacecraft. Related: Virgin Galactic’s stock rises after Tr ...