Virgin Galactic Holdings (SPCE) Financial Statements & Analysis

Virgin Galactic Holdings (SPCE) Income Statement

Virgin Galactic Holdings reported revenue of $1.54M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 78.1% from $7.04M a year earlier. Virgin Galactic Holdings posted a net loss of $278.91M, compared with a net loss of $346.74M a year earlier. Gross margin was -5680.7% and operating margin -18335.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $134.00K, down 67.0% from the same quarter a year earlier.

Virgin Galactic Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Virgin Galactic Holdings, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	1.54	7.04	6.80	2.31	3.29	0.24	3.78	2.85	1.75
Cost of Revenue	89.25	90.02	50.54	1.91	0.27	0.17	2.00	1.34	0.49
Gross Profit	-87.71	7.04	-43.74	0.41	3.02	0.07	1.78	1.51	1.27
Operating Expenses
Research & Development	80.47	152.68	295.14	314.17	144.22	154.37	132.87	116.73	93.09
Selling, General & Administrative	114.92	125.50	174.86	175.12	166.81	111.20	82.17	46.30	0.61
Operating Expenses	195.38	383.67	487.77	500.39	322.56	275.35	215.04	1.34	140.00
Operating Income	-283.09	-376.63	-531.51	-499.98	-319.54	-275.28	-213.26	-1.34	-140.00
Other Income/Expense
Interest Income	21.84	42.35	42.23	12.50	1.21	2.28	2.30	0.63	0.00
Interest Expense	12.78	-12.93	12.87	12.13	0.03	0.04	0.04	0.01	0.00
Other Income/Expense	4.24	29.96	29.63	0.06	-34.47	-369.60	2.39	29.19	140.04
Income
Income Before Tax	-278.86	-346.67	-501.88	-499.55	-352.82	-644.88	-210.87	10.97	1.33
Income Tax Expense	0.05	0.07	0.45	0.60	0.08	0.01	0.06	-24.62	0.16
Net Income	-278.91	-346.74	-502.34	-500.15	-352.90	-644.89	-210.94	10.97	1.33
Net Income - Continuous Operations	-278.91	-346.74	-502.34	-500.15	-352.90	-644.89	-210.94	10.97	1.33
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-249.59	-361.16	-475.64	-476.33	-341.28	-635.06	-206.26	-132.18	-134.16
EBIT	-266.07	-376.63	-489.01	-487.42	-352.80	-275.28	-	-	-
Depreciation & Amortization	16.49	15.47	13.37	11.10	11.52	9.78	7.00	5.81	4.55
Earnings Per Share
Basic EPS	-5.00	-14.00	-30.00	-38.00	-29.00	-25.00	-22.00	1.00	-
Diluted EPS	-5.00	-14.00	-30.00	-38.00	-29.00	-25.00	-22.00	1.00	-
Basic Shares Outstanding	51.24	24.96	16.86	13.20	12.38	10.96	9.69	9.68	194.38
Diluted Shares Outstanding	51.24	24.96	16.86	13.20	12.38	10.96	9.72	9.68	194.38

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Virgin Galactic Holdings Financial Statements

What was Virgin Galactic Holdings's revenue in fiscal 2025?

Virgin Galactic Holdings reported revenue of $1.54M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 78.1% from $7.04M a year earlier.

Is Virgin Galactic Holdings profitable?

No. Virgin Galactic Holdings reported a net loss of $278.91M in fiscal 2025. In fiscal 2024 it lost $346.74M.

What is Virgin Galactic Holdings's operating margin?

Virgin Galactic Holdings's operating income was −$283.09M on revenue of $1.54M in fiscal 2025, an operating margin of -18335.0%, compared with -5352.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition