Virgin Galactic Reports Prepare First Quarter as a Public Company, to Reopen Ticket Sales to Space t

(0) – Mt (0) – sm Mt (0.8em) – sm “type” “text” content = “Shares Virgin Galactic Holdings Inc (NYSE: SPCE) was on their way back to Earth Tuesday after the space exploration and tourism company expected analysts of income in its first quarter as a public company. “data-reactid =” 18 “> Shares Virgin Galactic Holdings Inc (NYSE: SPCE) was on their way back on Earth Tuesday after the space and tourism exploration company expected analysts of revenue in its first quarter as a public company.

Virgin Galactic, who hopes to bring tourists to space in the end, reported quarterly sales of $ 529,000, exceeding the Street estimate of $ 1.78 million by more than 70%.

The Chief Executive of George Whitesides got up to the fourth quarter, noting that the company completed its public listing in October and achieved several milestones in its American Spaceport facility in New Mexico, including set up missions and other key units.

Front Ticket Sales Again Soon

The company, founded by the British billionaire Sir Richard Branson, made ticket sales for space travel available to the public in 2014 following a pilot flight during a test flight. But the result of the demand, and the growing safety achievements, was Whitesides recently announced that the company planned to restart $ 250,000 tickets on the atmospheric edge. .

“The progress we have made in 2019, combined with the high level of interest from potential customers, underpins the steps we are taking towards reopening ticket sales,” said Whitesides in Tuesday’s statement. continue to build on our strong momentum as we enter the most exciting chapter of our story to date and prepare for commercial launch. “

“canvas-us can-text Mb (0)See more earnings on SPCE“data-reactid =” 24 “> See more earnings on SPCE

Virgin Galactic also announced its “One Small Step” initiative which allows space tourists interested in space to pay a refundable deposit of $ 1,000 to secure a frontline location for future ticket reservations.

Financial Highlights

  • Income of $ 529,000 for the quarter.
  • Cash and cash equivalents of $ 480 million at 31 December.
  • Net loss of $ 73 million for the quarter.
  • A total of $ 55 million negative was in an adjusted EBITDA.
  • Capital expenditure of $ 6 million in the quarter.

SPCE Stock Price

Virgin Galactic shares, which were growing in recent weeks, were down 5% in post-time trade to $ 32.40.

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“canvas-us can-text Mb (0)Will Stock Virgin Galactic come back the world: Morgan Stanley& nbsp;“data reactid =” 36 “>Will Stock Virgin Galactic come back the world: Morgan Stanley

“canvas-us can-text Mb (0)PreMarket Prep Stock of the Day: Virgin Galactic& nbsp;“data reactid =” 37 “>PreMarket Prep Stock of the Day: Virgin Galactic

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“canvas-us can-text Mb (0)© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.“data-reactid =” 43 “>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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