NYSE$SPCE
Virgin Galactic Holdings Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Announced financial results for the third quarter ended September 30, 2020.
Virgin Galactic reported a net loss of $77 million and maintained a strong cash position with $742 million in cash and cash equivalents. The company is preparing for its first rocket-powered test flight from Spaceport America in November and progressing on its second SpaceShipTwo vehicle.
- Completed the application of the thermal protection system on the Wing and Fuselage and progressed on systems installation.
- Completed work on Spaceport America’s third floor astronaut training lounge and customer center.
- Installed reclining seats, cabin cameras and download link hardware on VSS Unity for future live stream capability.
- Completed underwritten public offering of 23.6 million shares of common stock at a public offering price of $19.50 per share, resulting in net proceeds of over $440 million.
Headline financials
Revenue & EPS history
Virgin Galactic · Revenue · Quarterly
$0
Forward guidance
Virgin Galactic expects the first spaceflight from Spaceport America to occur between November 19-23, 2020. Reopening ticket sales in 2021 after Sir Richard Branson's flight.
Tailwinds
- Expect first spaceflight from Spaceport America to occur between November 19-23, 2020.
- This flight will include revenue-generating payloads as part of the NASA flight opportunities program.
- Entered into agreement with NASA and the Southwest Research Institute to fly planetary scientist Dr. Alan Stern on SpaceShipTwo vehicle from Spaceport America to conduct experiments in space.
- Reopening ticket sales in 2021 after Sir Richard Branson's flight.
- Implemented upgraded flight control system and upgraded horizontal stabilizers on VSS Unity to increase performance during the boost phase of the flight profile.
Headwinds
- Continuing to experience ongoing delays to its business and operations due to COVID-19.
- COVID-19 has led to accumulated impacts to both schedule and cost efficiency.
- Delays expected to continue through the fourth quarter and in 2021.
- Retiring "One Small Step" program on December 31, 2020.
- The Company is continuing to experience ongoing delays to its business and operations due to COVID-19.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2020
+0.0%
Avg return
Earnings day
-4.1%
Avg return
5 days after
-4.5%
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 |
|---|---|---|---|---|
| Q4 2025 | +13.1% | -23.5% | — | |
| Q1 2026 | +2.1% | -13.2% | +35.9% | |
| 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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