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Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000 a year ago. Net loss of $0.31 per share was, meanwhile, in line with the average street estimate.

SPCE shares fell 7% after the company said it has delayed its test flight to May, 2021. The stock has gained 23% in the trailing 12 months.

Virgin Galactic Q4 2020 earnings

Looking forward to listening to management/analyst comments on the results? Stay tuned here for Virgin Galactic Q4 earnings call transcript

The company also announced the appointment of Doug Ahrens as its new Chief Financial Officer, effective March 1, 2021. Ahrens most recently served as CFO at Mellanox.

Prior performance

  • virgin galactic Q3 2020 earnings
  • virgin galactic Q2 2020 earnings
  • Virgin galactic Q1 earnings

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