The Virgin Galactic stock price has crashed to a record low as concerns about its going concern continued. SPCE crashed to a low of $3.36, bringing the year-to-date losses to 42%.
Virgin Galactic Holdings Inc. says it is making progress building its new Delta-class spacecraft, which it says will help unlock the company's future profitability.
Virgin Galactic Holdings, Inc. (NYSE:SPCE ) Q4 2024 Earnings Conference Call February 26, 2025 5:00 PM ET Company Participants Eric Cerny - Vice President, Investor Relations. Michael Colglazier - Chief Executive Officer Mike Moses - President, Spaceline Doug Ahrens - Chief Financial Officer Conference Call Participants Greg Konrad - Jefferies Michael Leshock - KeyBanc Capital Markets Myles Walton - Wolfe Research Tom Nass - TD Cowen Operator Good afternoon.
In June 2024, space tourism pioneer Virgin Galactic (SPCE -4.67%) launched its Unity spaceplane with a planeload of space tourists for the last time. In the months since, the company has continued working on its new spaceplane, dubbed the Delta class.
Virgin Galactic can't sell rocket rides to space tourists for another couple of years -- so it sells stock instead.
Virgin Galactic Holdings Inc.'s progress toward its new class of spacecraft bodes well for the company's future profitability, according to KeyBanc Capital Markets.
ORANGE COUNTY, Calif.--(BUSINESS WIRE)--Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”) announced that the Compensation Committee of Virgin Galactic's Board of Directors approved the grants of time-based inducement restricted stock unit awards covering an aggregate of 42,018 shares of Virgin Galactic common stock to three new non-executive employees, each effective September 15, 2024. The awards were granted under Virgin Galactic's 2023 Employment Inducement Incentive Award Plan.
Virgin Galactic got into the space business promising trips for $250,000 a pop. In the second quarter, space tourists on the Unity spaceplane shelled out closer to $900,000 each, helping the company deliver a revenue beat.
The consensus price target hints at a 420.7% upside potential for Virgin Galactic (SPCE). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Virgin Galactic (SPCE) came out with a quarterly loss of $4.36 per share versus the Zacks Consensus Estimate of a loss of $5.40. This compares to loss of $9.20 per share a year ago.