NYSE$SPCE

Virgin Galactic Holdings Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Announced financial results for the fourth quarter and full year ended December 31, 2022, and provided a business update.

Virgin Galactic reported a net loss of $151 million for Q4 2022, compared to a net loss of $81 million in Q4 2021. The company's cash position remains strong with $980 million in cash and cash equivalents and marketable securities as of December 31, 2022. Commercial service is expected to launch in Q2 2023.

  • Cash position remains strong, with cash and cash equivalents and marketable securities of $980 million as of December 31, 2022.
  • Net loss of $151 million, compared to a $81 million net loss in the fourth quarter of 2021.
  • Commercial service remains on track for Q2 2023.
  • VMS Eve has returned to Spaceport America to begin flights with VSS Unity

Headline financials

Total Revenue

$869K

Previous: $141K+516.3%
EPS (adj)

-$11.00

Previous: -$6.20-77.4%
Adjusted EBITDA

-$133M

No prior period
Net Cash Used in Ops

-$131M

No prior period
Capital Expenditures

$4.18M

Previous: $2.18M+91.6%
Free Cash Flow

-$135M

Previous: -$67.3M-100.6%
Net Income

-$151M

Previous: -$80.8M-86.7%
Operating Income

-$153M

Previous: -$81.3M-88.6%
Gross Profit

-$300K

Previous: $139K-315.8%
Cash & Equivalents

$302M

Previous: $524M-42.4%
Total Assets

$1.14B

Previous: $1.07B+6.7%
Stock-Based Comp

$11.2M

Previous: $13.1M-14.4%

Revenue & EPS history

Virgin Galactic · Revenue · Quarterly

$869K

Q4 2022+516.3%vs Q4 2021
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Forward guidance

Forecasted free cash flow for the first quarter of 2023 is expected to be in the range of $(135) million to $(145) million.

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 Q4 2022

Historical avgQ4 2022

+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

Earnings price reactions
QuarterReport dateReaction (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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