Virgin Galactic stock: Q3 loss narrows as 2027 flights near

Published on 11/15/2026 at 13:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Virgin Galactic stock enters a pivotal development phase after the company reported a narrower third-quarter loss and outlined its 2027 flight timetable. Cash burn remains high.

Results sharpen the funding picture

Third-quarter revenue reached 427,000 US dollars, while the net loss narrowed to 58.8 million US dollars.
Virgin Galactic expects its first commercial spaceflight in early Q2 2027 and positive free cash flow no later than Q1 2028.
Fourth-quarter free cash flow is forecast at negative 80 million to negative 90 million US dollars.

SPCE, US92766K4031, Illustration mit AI erstellt.

Virgin Galactic reported its third-quarter 2026 results on November 12, 2026, narrowing its net loss as the company moved from spaceship construction toward flight preparation. Revenue reached 427,000 US dollars for the quarter ended September 30, while the GAAP net loss fell to 58.8 million US dollars from 64.4 million US dollars a year earlier.

The company said in its third-quarter release that its lead Delta-class spaceship, Apeiron, is expected to conduct its first glide flight in January. The first commercial spaceflight is expected in early Q2 2027, followed by a second spaceship in late Q2 or early Q3 2027.

Commercial ramp remains capital intensive

Virgin Galactic ended September with 184 million US dollars in cash, cash equivalents and marketable securities. Free cash flow was negative 99.1 million US dollars in the quarter, compared with negative 107.8 million US dollars in the prior-year period. Capital expenditures fell to 41.1 million US dollars from 51.5 million US dollars, while net cash used in operating activities rose slightly to 58.0 million US dollars.

Management expects fourth-quarter 2026 free cash flow between negative 80 million and negative 90 million US dollars. The company also began opening a limited tranche of spaceflight bookings at 850,000 US dollars per seat and said more than 100 astronauts had begun preparations for future flights.

Virgin Galactic plans a new high-cadence launch hangar and fueling infrastructure, with a planned opening in the second half of 2028. The company expects the project to support a capacity of up to 150 spaceflights per year once the initial fleet is expanded.

The broader U.S. market provides the relevant market setting for Virgin Galactic's NYSE-listed shares.

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