Space tourism company Virgin Galactic Holdings  (NYSE: SPCE)  reported third-quarter revenue of $400,000, less than analysts’ average estimate of $2.2 million.
The Tustin-based company also posted a net loss of $75 million for the quarter, narrower than the $105 million net loss in the third quarter of 2023,
Virgin Galactic reiterated it plans to restart commercial service with its new Delta class spaceships in 2026.
CEO Michael Colglazier said the company “has the engineering capacity to advance design work on a second mothership,” the airplane that will take Delta aloft. That will accelerate the next phase of growth for Virgin Galactic, he said.
Shares of Virgin Galactic fell 0.3% to $7.10 apiece in after-hours trading after closing up 3.5% for a market cap of $203 million.
For further details, see the Nov. 18 print edition.
