Virgin Galactic reported Q3 2024 financial results with revenue declining to $0.4M from $1.7M YoY, primarily due to paused commercial spaceflights to focus on Delta Class spaceship production. The company posted a net loss of $75M, improved from $105M loss in Q3 2023, driven by lower operating expenses of $82M compared to $116M YoY.The company maintains a strong cash position with $744M in cash and marketable securities as of September 30, 2024. The Delta Class spaceship program remains on schedule for commercial service in 2026, with initial flight-control testing completed and preparations underway for staffing ramp-up at the Phoenix-Mesa Spaceship Factory.Management expects Q4 2024 free cash flow to be between $(115)M and $(125)M. The company raised $37M through the issuance of 4.9M shares via at-the-market offering programs during Q3.

Virgin Galactic reported Q3 2024 financial results with revenue declining to $0.4M from $1.7M YoY, primarily due to paused commercial spaceflights to focus on Delta Class spaceship production. The company posted a net loss of $75M, improved from $105M loss in Q3 2023, driven by lower operating expenses of $82M compared to $116M YoY.The company maintains a strong cash position with $744M in cash and marketable securities as of September 30, 2024. The Delta Class spaceship program remains on schedule for commercial service in 2026, with initial flight-control testing completed and preparations underway for staffing ramp-up at the Phoenix-Mesa Spaceship Factory.Management expects Q4 2024 free cash flow to be between $(115)M and $(125)M. The company raised $37M through the issuance of 4.9M shares via at-the-market offering programs during Q3.