NYSE$SPCE
Virgin Galactic Holdings Inc · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
Virgin Galactic reported minimal revenue and a widened net loss in the first quarter of 2026 as it advanced development of its next-generation spaceships.
Virgin Galactic Holdings Inc. recorded revenue of $227,000 for the quarter ended March 31, 2026, primarily from access fees. The company posted a net loss of $64.7 million and used $53.5 million in cash from operations while continuing to invest heavily in its next-generation vehicle program. Management reiterated plans to begin commercial service in the fourth quarter of 2026.
- Revenue remained negligible at $227,000 as the company stays in pre-commercial phase.
- Net loss narrowed to $64.7 million from $84.5 million year-over-year due to lower R&D spend.
- Cash and marketable securities totaled approximately $220 million at quarter end.
- Company expects first commercial spaceflight in Q4 2026 following flight tests starting in Q3.
Headline financials
Revenue & EPS history
Virgin Galactic · Revenue · Quarterly
$227K
Forward guidance
Management plans to commence commercial service in Q4 2026 after flight testing begins in Q3 2026.
Tailwinds
- Backlog of approximately 650 future astronauts representing $186 million in potential revenue
- Progress on next-generation spaceship assembly and tooling completion
- Access to at-the-market equity program for additional capital
Headwinds
- Substantial doubt about ability to continue as going concern without additional financing
- No spaceflight revenue until commercial operations begin
- Ongoing high cash burn for vehicle development and operations
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+0.0%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-5.3%
Avg return
30 days after
49%
17 / 35 earnings
Positive
+41.1%
Q1 2025
Best reaction
-19.3%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | -13.2% | — | |
| Q4 2025 | +13.1% | +13.4% | +9.7% | |
| Q3 2025 | +10.6% | +4.5% | -2.1% | |
| Q2 2025 | -9.8% | -20.9% | -14.8% | |
| Q1 2025 | +41.1% | +11.0% | -10.4% | |
| Q4 2024 | -0.3% | -11.5% | -21.6% | |
| Q3 2024 | -8.7% | +9.7% | -5.8% | |
| Q2 2024 | +6.6% | +3.2% | +3.5% | |
| Q1 2024 | -3.4% | -7.6% | -19.6% | |
| Q4 2023 | -1.7% | -5.1% | -16.9% | |
| Q3 2023 | +6.9% | +8.6% | +33.9% | |
| Q2 2023 | -7.5% | -13.1% | -41.1% | |
| Q1 2023 | +2.2% | -1.7% | +0.7% | |
| Q4 2022 | -14.0% | +0.0% | -26.2% | |
| Q3 2022 | +8.6% | +10.4% | +13.5% | |
| Q2 2022 | -18.1% | -19.5% | -30.7% | |
| Q1 2022 | -17.7% | -29.2% | -15.7% | |
| Q4 2021 | -3.7% | +9.3% | +15.8% | |
| Q3 2021 | +7.0% | -1.6% | -16.8% | |
| Q2 2021 | +8.4% | +1.8% | -21.1% | |
| Q1 2021 | -7.6% | -17.5% | +79.3% | |
| Q4 2020 | -19.3% | -26.8% | -35.8% | |
| Q3 2020 | +5.5% | +13.5% | +59.4% | |
| Q2 2020 | -7.7% | -18.7% | -23.8% | |
| Q1 2020 | +10.9% | +21.0% | -4.9% | |
| Q2 2019 | +18.3% | +8.1% | -30.0% | |
| Q4 2019 | -16.2% | -28.3% | -50.2% | |
| Q3 2019 | -4.7% | -5.1% | -10.1% | |
| Q1 2019 | +0.0% | +0.2% | +0.0% | |
| Q2 2018 | +0.1% | +0.4% | +1.0% | |
| Q4 2018 | +0.1% | +0.4% | +1.0% | |
| Q3 2018 | +0.5% | +0.1% | +0.6% | |
| Q1 2018 | +0.1% | -0.1% | +0.4% | |
| Q4 2017 | -0.2% | +0.0% | +0.4% | |
| Q3 2017 | -1.3% | -1.9% | -1.9% |
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