Space tourism company Virgin Galactic said it’s on track to start commercial flights toward the end of this year.
The Tustin-based company made the forecast on May 14, as its earnings report showed its first-quarter net loss had narrowed to $65 million, while the $227,000 revenue for the period was slightly below estimates.
CEO Michael Colglazier said testing of the Tustin-based company’s new spaceship would start in the third quarter with spaceflights beginning in the last three months of the year.
“We provided our roughly 650 founding astronauts who make up roughly a year’s worth of advanced bookings with expected flight windows in 2027 and early 2028,” Colglazier said on a conference call with stock analysts.
The company’s stock closed at $2.81 apiece as of May 15, possibly heading toward a 52-week low of $2.13. The market cap was $277 million on May 21 (NYSE: SPCE).
Virgin Galactic was one of several Orange County companies that released quarterly earnings over the last three weeks.
Here are some of the others:
Skyworks Solutions
The Irvine-based chipmaker Skyworks Solutions posted revenue of $943.7 million for the second quarter of the fiscal year, down from $953.2 million for the same period last year. Analysts raised concerns about the company’s higher inventory levels, possibly indicating weak demand for the products (Nasdaq: SWKS).
Viant
Digital ad software company Viant Technology of Irvine reported a 25% increase in first-quarter revenue to nearly $89 million while the net loss narrowed.
“Viant delivered record first quarter results, exceeding the high end of our guidance range across both the top and bottom lines for the quarter,” Co-founder and CEO Tim Vanderhook said in the earnings statement (Nasdaq: DSP).
Ducommun
Costa Mesa-based aerospace and defense company Ducommun Inc. reported first-quarter revenue of $209 million, above analysts’ expectations, while adjusted earnings per share were also above estimates. (NYSE: DCO).
“Net revenue grew a very healthy 9%, led by strength in commercial aerospace which we have been waiting for, along with gains in our defense business,” said Stephen Oswald, chairman and chief executive of Ducommun (NYSE: DCO).
Veritone
AI company Veritone Inc. of Irvine said first-quarter revenue was $20.3 million, below analysts’ estimates of $31 million and a 9.8% decrease compared to the same period a year earlier.
CEO Ryan Steelberg said in the earnings statement “we are taking proactive measures to streamline operations and reduce our cost structure through restructuring and AI initiatives, as early as the end of Q2 2026, which reinforce our forecasted operating profitability as early as Q4 2026” (Nasdaq: VERI).
Lantronix
Computer networking components maker Lantronix Inc. in Irvine said revenue for the third fiscal quarter was $30.2 million, slightly below estimates.
“Our third-quarter results reflect our disciplined execution and continued momentum across the business as we reported year-over-year revenue and earnings growth,” said Saleel Awsare, president and CEO of Lantronix (Nasdaq: LTRX).
Netlist
Netlist Inc., the Irvine-based maker of computer memory products, reported first-quarter sales of $104.9 million, up 262% compared to the same period a year earlier. The company’s shares closed at $2.93 apiece on May 15, after posting an intraday market cap of $927 million (OTCQB: NLST).
