Space tourism company Virgin Galactic said today it plans to resume private astronaut flights in the fall of 2026, after a break of more than two years to get the Tustin-based company’s new space ships operational.
Fourth-quarter revenue was $400,000, compared to $2.8 million in the same period a year earlier, with the decrease driven by the pause in commercial space flights. The quarterly net loss narrowed to $76 million from $104 million.
The company founded by U.K. entrepreneur Richard Branson said free cash flow for the current quarter is expected to be in the range of minus $115 million to minus $125 million.
Shares in Virgin Galactic closed down 5.4% at $3.84 apiece with an intraday market cap of $111 million. They increased 4.2% in after-hours trading following the earnings release.
