Space tourism company Virgin Galactic Holdings (NYSE: SPCE) in Tustin said today its second-quarter revenue doubled to $4 million, as it took in more money from future flyers, while the net loss narrowed to $94 million from $134 million in the same period a year ago.
The company said it is on track to put its new Delta class spaceships into service in 2026. Flights have been paused until the new units are ready.
The company said its cash position remains strong, with cash, cash equivalents and marketable securities of $821 million as of June 30.
The company’s shares closed down 6.6% at $5.27 apiece for a market cap of $108 million, but rose 4.4% in after-hours trading following the release of the quarterly results.
For further details, see the Aug. 19 edition of the Business Journal.
