Welcome to our dedicated page for Virgin Galactic Holdings news (Ticker: SPCE), a resource for investors and traders seeking the latest updates and insights on Virgin Galactic Holdings stock.
Virgin Galactic Holdings, Inc. (symbol: SPCE) is a trailblazer in commercial space travel, being the world's first commercial spaceline. The company is revolutionizing space access by developing vehicles designed to fly private astronauts, research experiments, and satellites into space. With a vision of democratizing space for the benefit of life on Earth, Virgin Galactic offers an unparalleled astronaut experience that includes out-of-seat weightlessness and breathtaking views of Earth from space.
At the core of Virgin Galactic’s offerings is SpaceShipTwo, a reusable spaceplane engineered by aerospace pioneer Scaled Composites. This sophisticated vehicle is built to carry two pilots and up to six astronauts, or more than 1,000 pounds of scientific experiments, on commercial flights from Spaceport America in New Mexico—the world’s first purpose-built commercial spaceport.
In addition to human spaceflight, Virgin Galactic is advancing the field of small satellite launches with LauncherOne. This dedicated launch vehicle is designed to transport smaller satellites, typically weighing between 200-300 kilograms, into Earth orbit at historically low prices. LauncherOne expands the company’s offerings by providing cost-effective access to space for a variety of missions.
Virgin Galactic’s wholly-owned manufacturing arm, The Spaceship Company, is integral to its operations, producing advanced air and space vehicles. The company’s vertically integrated structure ensures seamless development and execution of its projects. Recently, Virgin Galactic has achieved significant milestones, including successful test flights and partnerships aimed at enhancing its technological capabilities and service offerings.
Financially, Virgin Galactic is focused on scaling its operations and achieving long-term profitability. The company continues to invest in research and development to enhance its spaceflight systems and customer experience. Key partnerships and strategic alliances are also pivotal in driving future growth and innovation.
Virgin Galactic's mission to make space travel accessible is not only about adventure but also about contributing to scientific research and technological advancement. By enabling private astronauts and researchers to explore the final frontier, the company is opening new possibilities for life on Earth and beyond.
Labaton Sucharow is investigating potential securities violations and fiduciary duty claims against Virgin Galactic Holdings (SPCE). On May 4, SPCE shares fell over 9% following the company's announcement to restate financial results due to SEC comments on special-purpose acquisition companies. The restatement affects the consolidated financial statements in the 10-K for the fiscal year ended December 31, 2020, specifically regarding the accounting treatment of warrants from the business combination dated October 25, 2019. Investors seeking to protect their interests can contact Labaton Sucharow for assistance.
Virgin Galactic (NYSE: SPCE) has rescheduled its Q1 2021 financial results announcement to May 10, 2021, after the SEC issued guidance affecting warrant accounting. This results in a restatement of its fiscal 2020 financial statements, primarily due to the treatment of warrants from its merger with Social Capital Hedosophia. The company does not expect this restatement to impact its Adjusted EBITDA or free cash flow. As of now, 2.7 million warrants are outstanding, and Virgin Galactic plans to launch its next rocket-powered spaceflight in May.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) is set to report its financial results for Q1 2021 after market close on May 4, 2021. A conference call to discuss these results will take place at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors can access the live webcast and replay through the Company's Investor Relations website.
The Company focuses on pioneering human spaceflight and developing advanced aerospace systems for private individuals and researchers.
Virgin Galactic has unveiled its first SpaceShip III, VSS Imagine, marking a significant stride in its fleet expansion and innovation in design. The new spaceship features a unique mirror-like livery that enhances thermal protection while appealing visually. VSS Imagine will undergo ground testing and glide flights from Spaceport America this summer. This initiative supports Virgin Galactic's goal of achieving 400 flights annually per spaceport. Additionally, the company continues to manufacture VSS Inspire, the second in the SpaceShip III class.
Virgin Galactic Holdings (SPCE) reported its fourth quarter and full year results for 2020, highlighting significant milestones achieved despite COVID-19 challenges. The company showed a strong cash position of $666 million and a net loss of $74 million, slightly improving from the previous quarter. Noteworthy developments include the completion of a second spaceship and plans for upcoming test flights, including a revenue-generating spaceflight with the Italian Air Force. Overall, the firm is focused on expanding its fleet and enhancing customer experiences in the space tourism sector.
Virgin Galactic (NYSE: SPCE) announces Doug Ahrens as the new Chief Financial Officer, effective March 1, 2021. Ahrens will replace Jon Campagna, who steps down after aiding the company's transition to a public entity. CEO Michael Colglazier emphasizes Ahrens' extensive experience in manufacturing, capital markets, and M&A as vital for the company's growth strategies. Ahrens previously served as CFO at Mellanox and GlobalLogic, bringing over 25 years of operational finance expertise. The company appears well-positioned for future growth, with a strong balance sheet left by Campagna.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) announced key leadership appointments, naming Swami Iyer as President of Aerospace Systems and Stephen Justice as Vice President of Engineering. Iyer, with over 20 years in the aerospace and defense sectors, will lead the development of the company’s vehicle fleet, starting in late March. Justice, who has four decades of experience at Lockheed Martin’s Skunk Works, will help grow the engineering team beginning March 1. CEO Michael Colglazier expressed excitement over these strategic moves to enhance the company's future growth opportunities in space travel.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) has appointed Seth Zaslow as Vice President of Investor Relations. Zaslow, who has over 25 years of experience in finance and investor relations, previously led the investor relations program at AMC Networks. His role will involve managing the company's engagement with the investment community and enhancing Virgin Galactic’s investor relations policies. Jon Campagna, the Chief Financial Officer, emphasized that Zaslow's appointment reflects the company’s growing scale as it approaches commercial service.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) has announced the formation of its Space Advisory Board, aimed at guiding the company in its pursuit of commercial spaceflight services. The board comprises distinguished aerospace experts, including Chris Hadfield, Dr. Sandy Magnus, Dr. David Whelan, and George Whitesides, who will provide insights on technical best practices and opportunities in various markets. CEO Michael Colglazier expressed enthusiasm for the board's contributions to the company's mission of expanding access to space. This strategic move is expected to bolster Virgin Galactic's leadership in the aerospace industry.
Virgin Galactic Holdings (NYSE: SPCE) has announced a new flight window for its SpaceShipTwo Unity test flight, opening on February 13, pending favorable weather and technical readiness. The flight will include two pilots and research payloads under NASA's Flight Opportunities program. Safety remains a priority, with pre-flight preparations and pilot training ongoing. The flight's key objective is to verify corrective work done since December 2020, involving extensive ground tests and addressing previous ignition issues. An extensive data review will follow the flight.
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