The stock of Virgin Galactic Holding Inc (SPCE) closed the regular trading session at $7.82. SPCE stock lost 6.9% from the previous trading session. The stock gained 3.84% in the pre-market, to $8.12. Virgin Galactic share kept moving between $7.71 and $8.27 during the regular trading session. The company released the results for the fourth financial quarter of fiscal year 2021. SPCE also filed form 8-K with the SEC on February 22, 2022, to report the quarterly earnings.
Virgin Galactic Holdings Inc is an aviation organization. The company is centered around the development, manufacturing and activities of spaceships.
Q4 2021 of SPCE
On February 22, 2022, SPCE released the results of the fourth financial quarter of fiscal year 2021, that ended on December 31, 2021. The key financial highlights of the company are
- SPCE had a revenue of $0.14 million in the Q4 of financial year 2021.
- The company posted a net loss of $80.7 million in Q4 of FY21 versus $104.1 million in the year ago quarter. Net loss decreased by 22.4%.
- Diluted loss of $0.31 per share in Q4 for fiscal year 2021 as compared to $0.44 in Q4 of FY20.
- Furthermore, adjusted EBITDA loss was $64.8 million in Q2 of FY21 versus $59.5 in the same quarter last year.
Virgin Galactic opened sales for the private astronauts at a new price of $0.45 million. The company also launched new headquarters for engineering and design. Also, SPCE launched a corporate headquarter. Virgin Galactic also completed its first spaceflight from New Mexico. In addition, it unfolded the Spaceship III, which is the second spaceship in the fleet.
SPCE predicted a free cash flow between $75 to $85 million for the Q1 of fiscal year 2022.
CEO Remarks
The CEO of Virgin Galactic Holding (SPCE), Michael Colglaziar, said that stay on the target of their enhancement program. They are also focused on the inauguration of commercial services in the current year. He further said that they accomplished numerous significant achievements in 2021.
Furthermore, Mr Colglaziar said that as of now they are working on their operations to fit in with the customer growth.
