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Virgin Orbit (NASDAQ: VORB) has evaluated the possibility of a securities offering but has decided not to proceed due to unfavorable market conditions. The company stated that any future capital raising efforts will be contingent on market conditions. Virgin Orbit provides flexible space launch solutions, having begun commercial operations in 2021 and successfully delivering various satellites into orbit.
Founded by Richard Branson, their operations are based in Long Beach, California.
Virgin Orbit (Nasdaq: VORB) reported strong Q3 2022 revenue of $30.9 million, up from $0.0 million in Q3 2021, while facing a net loss of $43.6 million. The company delivered seven satellites for the Department of Defense, marking its fourth consecutive successful launch. Recent agreements include a multi-year launch contract with Spire Global and international spaceport agreements with Australia, Luxembourg, and South Korea. Cash and cash equivalents stood at $71.2 million as of September 30, 2022. Virgin Orbit aims to double its 2022 launch rate in the upcoming year.
Virgin Orbit (Nasdaq: VORB) announced that CEO Dan Hart will present at the Deutsche Bank Global Space Summit Conference on November 9, 2022, at 10:00 a.m. Eastern Time. A live webcast will be available for those interested in following the presentation.
Since its founding by Richard Branson in 2017, Virgin Orbit has established a flexible space launch system, successfully delivering various satellites into orbit. The company operates from Long Beach, California, and has been in commercial service since 2021.
Virgin Orbit (Nasdaq: VORB) is set to announce its financial results for the third quarter on November 7, 2022, after market close. The company will hold a webcast and conference call at 4:30 PM ET on the same day to discuss these results. Founded by Sir Richard Branson in 2017, Virgin Orbit has been operational since 2021, providing flexible space launch services globally. The company utilizes LauncherOne rockets, launched from a modified 747-400 aircraft based in Long Beach, California.
Virgin Orbit and the Luxembourg Directorate of Defence signed a Letter of Intent to develop responsive space capabilities, including mobile launch infrastructure, for NATO and European Allies. This collaboration aims to optimize Virgin Orbit's LauncherOne system for rapid space missions. The initiative is a key part of Luxembourg's strategy to enhance its role in the space domain. The agreement signifies a commitment to resilient satellite launch capabilities and international cooperation in space defense.
Spire Global (NYSE: SPIR) has signed a Launch Service Agreement with Virgin Orbit (NASDAQ: VORB) to purchase multiple launches starting in 2023. These launches aim to support Spire’s expanding Space Services business and enhance its satellite constellation. Virgin Orbit is preparing for its first international launch from the UK, reflecting a growing backlog of launches. This collaboration showcases the demand in the small satellite market, providing Spire with greater flexibility and reliable access to space for its customers.
Virgin Orbit (Nasdaq: VORB) announces its first orbital launch from U.K. soil, titled Start Me Up, scheduled for November. The carrier aircraft and ground support equipment have completed their initial mission preparations in California and are en route to Cornwall. This launch will be significant as it marks several firsts: the first orbital launch from the U.K. and Virgin Orbit's first international and commercial launch from Western Europe. The flight will carry payloads from seven global customers, emphasizing the company’s responsive launch solutions.
Virgin Orbit (Nasdaq: VORB) announced that its latest rocket has successfully completed a full launch rehearsal, paving the way for its upcoming orbital launch from the U.K. The launch date will depend on regulatory approvals. The rehearsal, a crucial acceptance test before final preparations, took place on October 2. With 33 successful satellite deliveries to date, Virgin Orbit aims to enhance its operational efficiency by reducing manufacturing costs and turnaround time. Additionally, the company is expanding its air-launched system capabilities to multiple countries, including Australia, Brazil, and Japan.
Virgin Orbit (NASDAQ: VORB) has partnered with
