Virgin Galactic Shares Rise on Q4 Earnings Beat

Investing.com

February 22, 2022 at 11:36 a.m.·1 min read

By Sam Boughedda

Investing.com -- Virgin Galactic Holdings Inc (NYSE:SPCE) shares rose over 6% in extended trading following its fourth-quarter earnings report.

The American spaceflight company founded by Sir Richard Branson announced a loss per share of 31 cents on revenue of $141,000. Analysts polled by Investing.com anticipated a per-share loss of 34 cents.

The company said that its cash position remains strong, with cash, cash equivalents, and marketable securities of approximately $931 million as of December 31, 2021. They added that it does not reflect the company's recent fundraise.

Last week, SPCE said ticket sales would open to the general public starting on Wednesday. Furthermore, the expected launch of a private astronaut commercial service remains on track for Q4 2022.

The company forecasts free cash flow for the first quarter of 2022 between $(75) to $(85) million.

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