EarningsQ2 2026 Earnings Report
MX:SPCE Q2 2026 EPS Results
Actual EPS-$8.50
Consensus EPS-$10.94
Beat/MissBeat by +$2.43
One Year Ago EPS-$25.00
MX:SPCE Q2 2026 Revenue Results
Actual Revenue$2.28M
Expected Revenue$2.16M
Beat/MissBeat by +$119.06K
YoY Revenue Growth-67.00%
Earnings Announcement Details
QuarterQ2 2026
Date08/12/2026
TimeAfter Close
Conference CallWednesday, August 12, 2026
MX:SPCE Upcoming Earnings
Virgin Galactic Holdings's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SPCE Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a broadly positive long-term outlook driven by strong, diversified demand (multiple tranches selling out and >700 community members), meaningful unit economics (estimated $60M ship cost and >80% contribution margin yielding >$1.4B lifetime contribution margin per ship), improved liquidity (raised $134M and cash up ~14%), and ambitious flight-rate and EBITDA targets (10+ flights/month by mid‑2027; annualized adjusted EBITDA targets of ~$100M at modest scale). Near-term negatives include schedule slips that pushed commercial start to February 2027, temporary higher CapEx and incremental spending in Q3/Q4, continued negative free cash flow through 2026, and operational rework due to fit/tolerance issues. On balance the positives around demand, unit economics, strengthened balance sheet and clear path to revenue/cash inflows outweigh the short-term execution and cash burn challenges, supporting confidence in the company’s medium-to-long-term prospects.Company Guidance
Strong Demand and Oversubscribed Tranche
Recent tranche of spaceflight expeditions at the $750,000 price point was oversubscribed, adding over $50 million to expected future spaceflight revenue; company closed the tranche early and will retire the $750,000 price point, planning to reopen at higher price points this fall.
Growing Astronaut Community and Broader Demand Mix
Astronaut community exceeds 700 members; ~60% of the newest cohort are multi-seat bookings (groups, research, corporate charters and nonprofits), indicating diversified and repeatable demand.
Improved Balance Sheet Liquidity
Raised $134 million in Q2 via ATM program; cash, cash equivalents and marketable securities increased to $286 million from $251 million quarter-over-quarter, a ~14% increase.
Debt Reduction and Better-Aligned Debt Schedule
Reduced principal on 2027 and 2028 notes by $93 million; remaining principal payments on 2027 notes are $17.9 million and 2028 notes have no required principal until March 2028, improving near-term liquidity profile.
Operating and Capital Expense Improvements
Operating expenses decreased to $65 million from $70 million year-over-year (~7% decline); capital expenditures were $41 million versus $58 million prior year (~29% decline), reflecting progress through manufacturing.
Free Cash Flow Trend Improvement
Free cash flow was negative $91 million in the quarter, a 20% improvement versus the prior year period, showing progress toward cash discipline ahead of commercial operations.
Clear and Attractive Unit Economics
Each new spaceship projected to cost ~$60 million to produce; with conservative assumptions (500 flights, 6 astronauts/flight, average price $600,000, contribution margin >80%), each ship could generate >$1.4 billion in lifetime contribution margin.
Aggressive Flight Rate and Profitability Targets
Company continues to forecast achieving 10+ spaceflights per month by end of Q2 2027 and expects to achieve quarterly positive cash flow within 2027; model projects annualized adjusted EBITDA of ~$100 million with first 2 ships at $600k average price and >$450 million with 4 ships plus a launch vehicle at a single spaceport.
Manufacturing Progress and Production Capacity
Integrated vehicle ground testing to begin later in the month; second ship expected in New Mexico in March; static test articles being shipped for structural testing; rocket motor production initial ramp to ~3 motors/week with capability to scale toward ~15 motors/week.
MX:SPCE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed