Virgin Galactic Q1 earnings report


An aerial view of carrier aircraft VMS Eve, left, and spacecraft VSS Unity, at Spaceport America in New Mexico on Feb. 27, 2023.

Virgin Galactic

Virgin Galactic is aiming to fly its first spaceflight in nearly two years later this month, but the company’s first quarter loss widened dramatically as it funds its fleet growth.

For the quarter ended March 31, Virgin Galactic posted a net loss of $159.4 million, or 57 cents a share, compared with a loss of $93.1 million, or 36 cents a share, a year earlier.

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Virgin Galactic had cash and securities totaling $874 million at the end of the quarter, down from about $980 million at the end of the fourth quarter. It reported…

Source cnbc.com

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