Virgin Galactic Holdings (NYSE: SPCE) has reported financial results for the fourth quarter of 2021. The space tourism company generated revenues of $141,000 during the three-month period, which is above the consensus estimates.
The company incurred a net loss of $80.8 million or $0.31 per share in the fourth quarter, compared to a loss of $104.1 million or $0.44 per share in the corresponding period of last year. Analysts were looking for a wider loss.
“We remain on track and on schedule to complete our enhancement program and launch commercial service later this year. We achieved many important milestones in 2021 that laid an essential foundation towards becoming a scaled, commercial operation,” said Michael Colglazier, chief executive officer of Virgin Galactic.
Read management/analysts’ comments on Virgin Galactic’s Q4 2021 earnings
Shares of Virgin Galactic dropped about 70% in the past six months. The stock traded higher in the early hours of Wednesday’s session.