Source: Dreamstime
Reading time: 2 minutes
The ambitious space tourism company delivered solid second-quarter results that prompted its shares to rise by 5% in after-hours trading.
Financial performance for Q2 2021
“We have a purposeful range of product offerings in order to satisfy the different ways people will want to share this experience of private astronaut flights.”
Michael Colglazier, CEO
In the quarter, the company conducted two spaceflight tests – one from Spaceport America in New Mexico and another carrying the Virgin Galactic founder Richard Branson himself, in addition to three other mission specialists, in order to test the vehicle’s cabin.
Here are the main financial highlights from Virgin Galactic’s earnings release:
– Gross revenue: $571 million (same as last year)
– Net profits: $508 million (same as last year)
– EBITDA loss: $56 million (up from last year’s $55.9 million)
– Operating loss: $73.89 million (up from last year’s $63.05 million)
– Net loss: $94 million (up from last year’s $72 million)
– General and administrative expenses: $38.5 million (up from last year’s $26.04 million)
– Research and development expenses: $35.9 million (down from last year’s $37.09 million)
– Cash and cash equivalents: $552 million as of June 30, 2021
– Ticket reservations: so far, the company has about 600 booked tickets for future flights at prices, ranging between $200,000 and $250,000 each
– FAA approval: in June, Virgin Galactic secured a Full Commercial Launch License from the Federal Aviation Administration in the U.S.
Forecast for the second half of 2021
“In the second quarter, we made meaningful progress towards commencing commercial service in 2022 . . . In addition, we received FAA approval to expand our existing launch license, marking the first time the FAA has licensed a spaceline to fly customers to space.”
Michael Colglazier
While Virgin Galactic didn’t put up any official statements, its previous plan to fly two more tests of spacecraft VSS Unity has been postponed, and the Italian spaceflight, designated as the Unity 23 flight, is currently next on the company’s list.
Following Unity 23, Virgin Galactic will then pause spaceflight operations for an “enhancement period.” This will push back the company’s beginning of commercial service as the spaceline had originally envisioned to launch its private customer spaceflight in early 2022.
Upcoming reports
See the full list of upcoming earnings reports for 9-13 August in the tables below.
Monday, 9 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Cara Therapeutics Inc | Q2 2021 |
| USA | Inovio Pharmaceuticals Inc | Q2 2021 |
| USA | RCI Hospitality Holdings Inc | Q3 2021 |
| USA | Energizer Holdings Inc | Q3 2021 |
| USA | Viatris Inc | Q2 2021 |
| USA | Tyson Foods Inc | Q3 2021 |
| Germany | q.beyond AG | Q2 2021 |
| Canada | Barrick Gold Corp | Q2 2021 |
| United Kingdom | Hargreaves Lansdown PLC | Half Year 2021 |
| United Kingdom | RIT Capital Partners PLC | Half Year 2021 |
| Kingdom on the Netherlands | PostNL NV | Q2 2021 |
Tuesday, 10 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Sysco Corp | Q4 2021 |
| United Kingdom | Abrdn PLC | Half Year 2021 |
| United Kingdom | M&G PLC | Half Year 2021 |
| Germany | Muenchener Rueckversicherungs Gesellschaft AG in Muenchen | Half Year 2021 |
| Germany | Porsche Automobil Holding SE | Q2 2021 |
| Kingdom of the Netherlands | Just Eat Takeaway.com NV | Q2 2021 |
| Germany | Brenntag SE | Q2 2021 |
| United Kingdom | InterContinental Hotels Group PLC | Interim report for 2021 |
| Ireland | Flutter Entertainment PLC | Half Year 2021 |
Wednesday, 11 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | eBay Inc | Q2 2021 |
| United Kingdom | Avast PLC | Half Year 2021 |
| United Kingdom | Prudential PLC | Half Year 2021 |
| China | NIO Inc | Q2 2021 |
| Germany | Leoni AG | Q2 2021 |
| Germany | Lanxess AG | Q2 2021 |
| Germany | Evotec SE | Q2 2021 |
| Germany | Jenoptik AG | Q2 2021 |
| Germany | E.ON SE | Q2 2021 |
| United Kingdom | Admiral Group PLC | Half Year 2021 |
| Kingdom of the Netherlands | Koninklijke Ahold Delhaize NV | Q2 2021 |
| Austria | Wienerberger AG | Half Year 2021 |
| Germany | Salzgitter AG | Half Year 2021 |
| Germany | thyssenkrupp AG | Q3 2021 |
| Kingdom of the Netherlands | ABN Amro Bank NV | Q2 2021 |
Thursday, 12 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Walt Disney Co | Q3 2021 |
| USA | Airbnb Inc | Q2 2021 |
| USA | Palantir Technologies Inc | Q2 2021 |
| China | Baidu Inc | Q2 2021 |
| USA | Broadridge Financial Solutions Inc | Q4 2021 |
| United Kingdom | Murray International Trust PLC | Half Year 2021 |
| Germany | Aareal Bank AG | Q2 2021 |
| Germany | Bilfinger SE | Half Year 2021 |
| Germany | SGL Carbon SE | Q2 2021 |
| United Kingdom | Aviva PLC | Half Year 2021 |
| Germany | Henkel AG & Co KGaA | Q2 2021 |
| Kingdom of the Netherlands | Aegon NV | Q2 2021 |
| Germany | Ceconomy AG | Q3 2021 |
| Germany | K&S AG | Half Year 2021 |
| Germany | TUI AG | Q3 2021 |
| Germany | RWE AG | Q2 2021 |
| Germany | Deutsche Telekom AG | Q2 2021 |
| Kingdom of the Netherlands | NN Group NV | Half Year 2021 |
Friday, 13 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| Germany | Deutsche Wohnen SE | Q2 2021 |
| Germany | GEA Group AG | Half Year 2021 |
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