Virgin Galactic beats Q1 revenue estimates, net loss narrows

Virgin Galactic Holdings

14/05/2026 21:14

Overview

US aerospace and space travel firm's Q1 revenue declined yr/yr but beat analyst expectations

Net loss for Q1 narrowed, driven by lower operating expenses

Company raised $11 mln in Q1 via share issuance and maintains strong cash position

Outlook

Virgin Galactic expects Q2 2026 free cash flow of $(87) mln to $(92) mln

Company sees sequential improvement in quarterly free cash flow for remainder of 2026

Virgin Galactic says flight testing remains on track for Q3 2026, first spaceflight for Q4 2026

Result Drivers

LOWER OPERATING EXPENSES - Co said net loss improvement was primarily driven by reduced operating expenses

COST MANAGEMENT - CEO said spending continues to decline quarter by quarter as co prepares for commercial operations

Company press release: ID:nBw7LCTBPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$227,000
$190,000 (5 Analysts)
Q1 EPS
-$0.81
Q1 Net Income
-$64.72 mln
Q1 Operating Expenses
$65.82 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy."

Wall Street's median 12-month price target for Virgin Galactic Holdings Inc is $3.25, about 12.8% above its May 13 closing price of $2.88

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)