Virgin Galactic Holdings, Inc., an aerospace and space travel company, reported a net loss of $502.3 million for the year ended December 31, 2023. The company, which offers space travel for private individuals, researchers, and government agencies, generated revenue of $6.8 million, primarily from commercial spaceflights and membership fees. Operating expenses totaled $538.3 million, with significant investments in research and development, spaceline operations, and selling, general and administrative expenses. The company also recognized $44.3 million in stock-based compensation expense. Virgin Galactic completed an offering of $425 million in convertible senior notes and entered into capped call transactions to reduce potential dilution from the conversion of the notes. The company's cash and cash equivalents stood at $216.8 million, with an additional $728.8 million in marketable securities. Virgin Galactic's financial results reflect the ongoing development and commercialization of its spaceflight system, with the first commercial spaceflight, 'Galactic 01,' launched in June 2023.

Virgin Galactic Holdings, Inc., an aerospace and space travel company, reported a net loss of $502.3 million for the year ended December 31, 2023. The company, which offers space travel for private individuals, researchers, and government agencies, generated revenue of $6.8 million, primarily from commercial spaceflights and membership fees. Operating expenses totaled $538.3 million, with significant investments in research and development, spaceline operations, and selling, general and administrative expenses. The company also recognized $44.3 million in stock-based compensation expense. Virgin Galactic completed an offering of $425 million in convertible senior notes and entered into capped call transactions to reduce potential dilution from the conversion of the notes. The company's cash and cash equivalents stood at $216.8 million, with an additional $728.8 million in marketable securities. Virgin Galactic's financial results reflect the ongoing development and commercialization of its spaceflight system, with the first commercial spaceflight, 'Galactic 01,' launched in June 2023.