Virgin Galactic Holdings Inc

virgingalactic.com

What Do They Do?

Sells spaceflight experiences to private individuals and spaceflight access for researchers and government agencies, including flights carrying scientific payloads and researchers conducting experiments.

How Do They Make Money?

The company earns money from passenger and research spaceflight services when a flight is completed; astronaut-community access fees, engineering services and sponsorships are earned over the term of each arrangement.

FY2025 revenue

Who Are Their Customers?

Private individuals reserve spaceflight experiences mainly through direct sales; researchers and government agencies use flights for experiments and training. The company also plans to reach prospective customers through partners such as luxury travel agencies.

Do Revenues Turn Into Profits?

No. It lost $278.9M in FY2025.

Operating income, FY2025

−18481% of revenue

▼ −24% (Loss) vs FY2024 (−$376.6M, −5353%)

Net income, FY2025

−18064% of revenue

▼ −20% (Loss) vs FY2024 (−$346.7M, −4928%)

Free cash flow, FY2025

−28380% of revenue

▼ −8% (Loss) vs FY2024 (−$474.6M, −6745%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −67%; vs $406K in Q2 FY2025
Net income: ▼ −17% (Loss); vs −$67.3M in Q2 FY2025

Shrinking. Revenue fell 53% in 4 years, from $3.3M in FY2021 to $1.5M in FY2025, about 17% a year.

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