Virgin Galactic Holdings, Inc. is a vertically integrated aerospace and space travel company, pioneering human spaceflight for private individuals and researchers, as well as a manufacturer of advanced air and space vehicles. It is developing a spaceflight system designed to offer customers a unique and transformative experience.

Company profile
Ticker
SPCE
Exchange
Website
CEO
Michael Colglazier
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Expedia • GXO Logistics • Booking • GATX • Diamond S Shipping • Tuniu • ModivCare • Despegar.com • XPO Logistics • Astra Space ...
Former names
Social Capital Hedosophia Holdings Corp.
SEC CIK
Corporate docs
Subsidiaries
Galactic Co., LLC • Vehicle Holdings, Inc. • Virgin Galactic, LLC • Virgin Galactic Limited • Galactic Enterprises, LLC • Virgin Galactic Vehicle Holdings, Inc. ...
SPCE stock data
News

9 Business Moguls With Cameos In Movies
19 May 22
Peering Into Virgin Galactic Hldgs's Recent Short Interest
13 May 22
What You Could Buy With These CEOs' Yearly Compensation: From Eloon Musk To Eric Wu
10 May 22
Benzinga's Top Ratings Upgrades, Downgrades For May 9, 2022
9 May 22
10 Biggest Price Target Changes For Monday
9 May 22
Press releases
Why the Space-as-a-Service Business Models are Taking the Space Sector by Storm
13 May 22
Thinking about buying stock in Farmmi, Fubotv, Roblox, Virgin Galactic, or Plug Power?
6 May 22
Virgin Galactic Announces First Quarter 2022 Financial Results
5 May 22
Virgin Galactic Announces Date of First Quarter Fiscal Year 2022 Financial Results and Conference Call
8 Apr 22
Thinking about buying stock in American Airlines, Aurora Cannabis, Rivian Automotive, Norwegian Cruise Line, or Virgin Galactic?
1 Apr 22
Analyst ratings and price targets
Current price
Average target
$8.75
Low target
$8.00
High target
$10.00
Truist Securities
Downgraded
$8.00
Canaccord Genuity
Downgraded
$8.00
Morgan Stanley
Maintains
$10.00
Susquehanna
Maintains
$9.00
Calendar
4 May 22
20 May 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
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Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 636.83M | 636.83M | 636.83M | 636.83M | 636.83M | 636.83M |
Cash burn (monthly) | (no burn) | (no burn) | 31.01M | 29.29M | 22.02M | 20.67M |
Cash used (since last report) | n/a | n/a | 51.43M | 48.57M | 36.51M | 34.28M |
Cash remaining | n/a | n/a | 585.4M | 588.26M | 600.31M | 602.55M |
Runway (months of cash) | n/a | n/a | 18.9 | 20.1 | 27.3 | 29.2 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
20 Apr 22 | Michael A Colglazier | Common Stock | Payment of exercise | Dispose F | No | No | 8.42 | 16,454 | 138.54K | 1,036,390 |
24 Mar 22 | Michael A Colglazier | Common Stock | Payment of exercise | Dispose F | No | No | 9.73 | 17,139 | 166.76K | 1,052,844 |
23 Mar 22 | Michelle Kley | Common Stock | Payment of exercise | Dispose F | No | No | 9.57 | 2,485 | 23.78K | 141,473 |
17 Mar 22 | Michael A Colglazier | Common Stock | Grant | Acquire A | No | No | 0 | 473,818 | 0 | 1,069,983 |
17 Mar 22 | Michael A Colglazier | Performance Stock Options Common Stock | Grant | Acquire A | No | No | 8.99 | 405,680 | 3.65M | 405,680 |
16 Mar 22 | Michelle Kley | Common Stock | Grant | Acquire A | No | No | 0 | 115,900 | 0 | 143,958 |
Institutional ownership, Q1 2022
6.7% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 0 |
Total shares | 17.25M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
SCH Sponsor | 17.25M | $0 |
Financial report summary
?Risks
- The success of our business will be highly dependent on our ability to effectively market and sell human spaceflights.
- Any inability to operate our spaceflight system after commercial launch at our anticipated flight rate could adversely impact our business, financial condition and results of operations.
- Our ability to grow our business depends on the successful development of our spaceflight systems and related technology, which is subject to many uncertainties, some of which are beyond our control.
- Unsatisfactory safety performance of our spaceflight systems or security incidents at our facilities could have a material adverse effect on our business, financial condition and results of operation.
- We may not be able to convert our orders in backlog or inbound inquiries about flight reservations into revenue.
- Any delays in the development and manufacture of additional spaceflight systems and related technology may adversely impact our business, financial condition and results of operations.
- If we are unable to adapt to and satisfy customer demands in a timely and cost-effective manner, our ability to grow our business may suffer.
- We may be unable to manage our future growth effectively, which could make it difficult to execute our business strategy.
- Our prospects and operations may be adversely affected by changes in consumer preferences and economic conditions that affect demand for our spaceflights.
- Adverse publicity stemming from any incident involving us or our competitors, or an incident involving a commercial airline or other air travel provider, could have a material adverse effect on our business, financial condition and results of operations.
- Due to the inherent risks associated with commercial spaceflight, there is the possibility that any accident or catastrophe could lead to the loss of human life or a medical emergency.
- We may require substantial additional funding to finance our operations, but adequate additional financing may not be available when we need it, on acceptable terms or at all.
- Certain future operational facilities may require significant expenditures in capital improvements and operating expenses to develop and foster basic levels of service needed by the spaceflight operation, and the ongoing need to maintain existing operational facilities requires us to expend capital.
- We rely on a limited number of suppliers for certain raw materials and supplied components. We may not be able to obtain sufficient raw materials or supplied components to meet our manufacturing and operating needs, or obtain such materials on favorable terms, which could impair our ability to fulfill our orders in a timely manner or increase our costs of production.
- Failure of third-party contractors could adversely affect our business.
- We expect to face intense competition in the commercial spaceflight industry and other industries in which we may develop products.
- Our investments in developing new offerings and technologies and exploring the application of our existing proprietary technologies for other uses and those offerings, technologies or opportunities may never materialize.
- The “Virgin” brand is not under our control, and negative publicity related to the Virgin brand name could materially adversely affect our business.
- If we fail to adequately protect our proprietary intellectual property rights, our competitive position could be impaired and we may lose valuable assets, generate reduced revenue and incur costly litigation to protect our rights.
- We rely on licenses from third parties for intellectual property that is critical to our business, and we would lose the rights to use such intellectual property if those agreements were terminated or not renewed.
- Protecting and defending against intellectual property claims may have a material adverse effect on our business.
- We have government customers, which subjects us to risks including early termination, audits, investigations, sanctions and penalties.
- If we commercialize outside the United States, we will be exposed to a variety of risks associated with international operations that could materially and adversely affect our business.
- Our business is subject to a wide variety of extensive and evolving government laws and regulations. Failure to comply with such laws and regulations could have a material adverse effect on our business.
- We are subject to stringent U.S. export and import control laws and regulations. Unfavorable changes in these laws and regulations or U.S. government licensing policies, our failure to secure timely U.S. government authorizations under these laws and regulations, or our failure to comply with these laws and regulations could have a material adverse effect on our business, financial condition and results of operation.
- Failure to comply with U.S. federal, state and foreign laws and regulations relating to privacy, data protection and consumer protection, or the expansion of current or the enactment of new laws or regulations relating to privacy, data protection and consumer protection, could adversely affect our business and our financial condition.
- Failures in our technology infrastructure could damage our business, reputation and brand and substantially harm our business and results of operations.
- We are highly dependent on our senior management team and other highly skilled personnel, and if we are not successful in attracting or retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
- We are subject to many hazards and operational risks that can disrupt our business, including interruptions or disruptions in service at our primary facilities, which could have a material adverse effect on our business, financial condition and results of operations.
- Natural disasters, unusual weather conditions, epidemic outbreaks, terrorist acts and political events could disrupt our business and flight schedule.
- Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
- We are subject to environmental regulation and may incur substantial costs.
- Delaware law and our organizational documents contain certain provisions, including anti-takeover provisions, that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable.
- The provisions of our certificate of incorporation requiring exclusive forum in the Court of Chancery of the State of Delaware for certain types of lawsuits may have the effect of discouraging lawsuits against our directors and officers.
- Our certificate of incorporation expressly limits the liability of certain parties to us for breach of fiduciary duty and could also prevent us from benefiting from corporate opportunities that might otherwise have been available to us.
- Our indebtedness could expose us to risks that could adversely affect our business, financial condition and results of operations.
- The conditional conversion feature of the 2027 Notes, if triggered, may adversely affect our financial condition and conversion of the 2027 Notes, to the extent the 2027 Notes are not redeemed or repurchased, will dilute the ownership interest of existing stockholders, and even if anticipated, may otherwise depress the price of our common stock.
- The convertible note hedge may affect the value of the 2027 Notes and our common stock.
- We are subject to counterparty risk with respect to the 2027 Note Hedge transactions.
- We do not intend to pay cash dividends for the foreseeable future.
- The trading price of our common stock may be volatile, and you may be unable to sell your shares above your purchase price.
- Any acquisitions, partnerships or joint ventures that we enter into could disrupt our operations and have a material adverse effect on our business, financial condition and results of operations.
- We may become involved in litigation that may materially adversely affect us.
- Changes in tax laws or regulations may increase tax uncertainty and adversely affect results of our operations and our effective tax rate.
- The obligations associated with being a public company involve significant expenses and require significant resources and management attention, which divert from our business operations.
Management Discussion
- Revenue increased by $3.1 million, or 1,283.2%, to $3.3 million for the year ended December 31, 2021 from $0.2 million for the year ended December 31, 2020. Revenue recorded for the year ended December 31, 2021 was primarily attributable to sponsorship revenue and revenue earned under government contracts from progress on the completion of certain technical milestones related to payload services. In addition, we recognized revenue related to the performance of our spaceflights in May and July of 2021. Revenue recorded for the year ended December 31, 2020 was related to engineering services provided under long-term U.S. government contracts that ended in early 2020.
- We recorded $0.3 million and $0.2 million of cost of revenue for the years ended December 31, 2021 and December 31, 2020, respectively. Cost of revenue primarily relates to the incremental costs related to the completion of payload services, labor costs provided for engineering services under long-term U.S. government contracts, and agent fees related to sponsorship revenue.
- Gross profit increased by $3.0 million, or 4,546.2%, to $3.0 million for the year ended December 31, 2021 from less than $0.1 million for the year ended December 31, 2020.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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New words:
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Removed:
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Current reports
8-K
Virgin Galactic Announces First Quarter 2022 Financial Results
4 May 22
8-K
Other Events
18 Mar 22
8-K
Virgin Galactic Announces Fourth Quarter and Full Year 2021 Financial Results
22 Feb 22
8-K
Departure of Directors or Certain Officers
18 Feb 22
8-K
Entry into a Material Definitive Agreement
20 Jan 22
8-K
Virgin Galactic Holdings, Inc. Prices
14 Jan 22
8-K
Cautionary Note Regarding Forward-Looking Statements
13 Jan 22
8-K
Departure of Directors or Certain Officers
22 Dec 21
8-K
Virgin Galactic Announces Third Quarter 2021 Financial Results
8 Nov 21
8-K
Submission of Matters to a Vote of Security Holders
27 Aug 21
Registration and prospectus
424B3
Prospectus supplement
12 Jul 21
S-3/A
Shelf registration (amended)
17 Jun 21
S-3
Shelf registration
28 May 21
424B3
Prospectus supplement
17 Dec 20
POS AM
Prospectus update (post-effective amendment)
16 Nov 20
424B3
Prospectus supplement
16 Nov 20
424B3
Prospectus supplement
12 Aug 20
424B4
Prospectus supplement with pricing info
6 Aug 20
S-1MEF
Registration of additional securities for an S-1
5 Aug 20
S-1
2020 Q2
IPO registration
3 Aug 20
Other
EFFECT
Notice of effectiveness
30 Jun 21
CORRESP
Correspondence with SEC
24 Jun 21
CORRESP
Correspondence with SEC
16 Jun 21
UPLOAD
Letter from SEC
15 Jun 21
EFFECT
Notice of effectiveness
24 Nov 20
EFFECT
Notice of effectiveness
6 Aug 20
CORRESP
Correspondence with SEC
3 Aug 20
CORRESP
Correspondence with SEC
3 Aug 20
UPLOAD
Letter from SEC
21 Jul 20
EFFECT
Notice of effectiveness
14 May 20
Ownership
4
Virgin Galactic / Michael A Colglazier ownership change
22 Apr 22
4
Virgin Galactic / Michael A Colglazier ownership change
28 Mar 22
4
Virgin Galactic / Michelle Kley ownership change
25 Mar 22
4
Virgin Galactic / Michael A Colglazier ownership change
21 Mar 22
4
Virgin Galactic / Michelle Kley ownership change
18 Mar 22
4
Virgin Galactic / Douglas T Ahrens ownership change
18 Mar 22
4
Virgin Galactic / Douglas T Ahrens ownership change
2 Mar 22
4
Virgin Galactic / Michael Patrick Moses ownership change
27 Feb 22
SC 13G
Virgin Galactic / VANGUARD ownership change
9 Feb 22
4
Virgin Galactic / Michael Patrick Moses ownership change
27 Jan 22
Patents
Utility
Composite Control Cables and Stabilizing Tendons for Aircraft Applications and Method for Manufacture of Same
24 Feb 22
Control and stabilizing cables and tendons for high altitude aircraft and airships having lightweight, high strength and low CTE are disclosed, along with a method and machine for fabrication of same.
Utility
Shaped Composite Vehicle Skins and Method for High Rate Manufacturing of Same
9 Sep 21
A method for making large vehicle body sections, skins, and panels, including three dimensional sections, skins, and panels, using carbon fiber filaments comingled with thermoplastic polymer filaments to form comingled fibers.
Transcripts
2022 Q1
Earnings call transcript
6 May 22
2021 Q4
Earnings call transcript
23 Feb 22
2021 Q3
Earnings call transcript
9 Nov 21
2021 Q2
Earnings call transcript
6 Aug 21
2021 Q1
Earnings call transcript
11 May 21
2020 Q4
Earnings call transcript
26 Feb 21
2020 Q3
Earnings call transcript
5 Nov 20
2020 Q2
Earnings call transcript
3 Aug 20
2020 Q2
Earnings call transcript
3 Aug 20
2020 Q1
Earnings call transcript
6 May 20
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