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Infographic: Highlights of Virgin Galactic’s (SPCE) Q3 2023 earnings

Virgin Galactic Holdings (NYSE: SPCE) has reported financial results for the third quarter of 2023. The space tourism company reported revenues of $1.73 million for the three-month period, which is more than double the revenue it generated in the prior-year quarter.

Virgin incurred a net loss of $104.6 million or $0.28 per share in the third quarter, compared to a loss of $145.6 million or $0.55 per share in the corresponding period of last year. Research & development expenses decreased 54% to $44.8 million.

“With our third quarter cash and marketable securities position of approximately $1.1 billion, we forecast having sufficient capital to bring our first two Delta ships into service and achieve positive cash flow in 2026,” said Michael Colglazier, chief executive officer of Virgin Galactic.

Prior Performance

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