3 Things You Need to Know From Virgin Galactic's Earnings Call
SPCEVirgin Galactic(SPCE) The Motley Fool·2024-03-16 19:07

Space tourism company Virgin Galactic (SPCE 1.84%) reported full-year 2023 earnings at the end of February. This closed out a "record" year for spaceflight, in which the company flew its VSS Unity spaceplane seven times, and tripled its annual revenue. And what did this mean for the company's multi-year history of losing money and burning cash?Losses increased by $2 million, and cash burn grew by 24%, to $492.5 million. That's according to S&P Global Market Intelligence, a provider of financial data on U.S. ...