Virgin Galactic Holdings, Inc. (NYSE: SPCE) reported its financial results for the quarter ended March 31, 2020, on Tuesday after the market closes. Also, the company provided an update regarding the impact of COVID-19 on its business and operations.
Virgin Galactic posted a wider loss in the first quarter of 2020 due to higher costs and expenses despite a dip in the top-line. The revenue for the latest quarter was generated by providing engineering services.
The full impact of the pandemic on the company’s full-year results and test flight program will depend on future developments. Virgin Galactic continues to monitor the impact of COVID-19 and will provide updates as appropriate.
In a separate release, the company and its subsidiary The Spaceship Company, announced the signing of a Space Act Agreement with NASA to facilitate the development of high-speed technologies. The deal is set to enable and foster collaboration between NASA, Virgin Galactic, and The Spaceship Company in order to advance the US’ efforts to produce technically feasible, high Mach vehicles for potential civil applications.
The Registrations of interest in flight reservations increased by about 1,200 as of April 29, 2020, a 15% increase since February 23, 2020. The company completed the transition of all Virgin Galactic operations personnel from Mojave, California to Spaceport America, bringing the current total number of staff in New Mexico to 178. As on May 1, 2020, the glide flight of VSS Unity from Spaceport America was completed, marking the spaceship’s first flight from a new home base and in new airspace.
Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as
Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and
Shares of Tattooed Chef Inc. (NASDAQ: TTCF) have gained 57% over the past 12 months but has dropped 25% since the start of this year. The sentiment on the stock