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Virgin Galactic Holdings (SPCE) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Virgin Galactic Holdings (SPCE) Q2 2026 earnings results →
Q2 2026 Revenue down 67% year over year to $134K
Virgin Galactic Holdings made $134K in Q2 2026 (-67% Y/Y). Operating margin n/m, net loss $55.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $134K in Q2 2026, down 67% year over year and down 41% from the previous quarter.
Operating costs exceeded revenue by $64.9M, an operating margin of -48452.2%. Total costs fell 8% while revenue fell 67%. The fastest-growing cost line was Cost of revenue (+98%). The quarter ended with a net loss of $55.9M, narrower than the previous quarter's $64.7M loss.
Operating cash flow was −$50.2M. Non-cash charges added back $4.0M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items used $5.1M. Capital expenditures of $40.6M exceeded it, leaving free cash flow of −$90.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $134K | -67% | n/m | −$55.9M | −$50.2M |
| Q1 2026 | 10-Q | May 14, 2026 | $227K | -51% | n/m | −$64.7M | −$53.5M |
| Q4 2025 | 10-K | Mar 30, 2026 | $312K | -27% | n/m | −$62.7M | −$52.5M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $365K | -9% | n/m | −$64.4M | −$56.3M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $406K | -90% | n/m | −$67.3M | −$55.4M |
| Q1 2025 | 10-Q | May 15, 2025 | $461K | -77% | n/m | −$84.5M | −$75.9M |
| Q4 2024 | 10-K | Feb 26, 2025 | $429K | -85% | n/m | −$76.4M | −$81.0M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Virgin Galactic Holdings
Virgin Galactic is an aerospace and space travel company, pioneering human-first spaceflight for private individuals, researchers, and government agencies with its advanced and highly re-useable spaceships and high-altitude carrier aircraft. Built on the foundation of 20 years of experience, we are making human spaceflight repeatable and, therefore, more accessible for individuals. We are at the vanguard of a new industry dedicated to advancing human progress, innovation, understanding and collaboration through the transformative power of space travel. This industry is growing dramatically due to new products, new sources of private and government funding, and new technologies. Demand is emerging from new sectors and demographics, which we believe is broadening the total addressable market.
In its own words, from its 10-K, filed Mar 30, 2026.
Virgin Galactic Holdings against its Transportation Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -67% against the peers' median +12%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SPCE Virgin Galactic Holdings | Q2 2026 | $134K | -67% | n/m |
| BKNG Booking Holdings | Q3 2026 | $8.9B | -1% | 38.4% |
| EXPE Expedia Group | Q3 2026 | $4.9B | +12% | 26.9% |
| GXO GXO Logistics | Q3 2026 | $3.6B | +6% | 2.7% |
| XPO XPO | Q3 2026 | $2.4B | +12% | 12.1% |
| RXO RXO | Q3 2026 | $1.9B | +32% | 0.9% |
| GMRS GMR Solutions | Q2 2026 | $1.5B | +3% | 3.8% |
| GBTG Global Business Travel Group | Q2 2026 | $870M | +38% | 2.8% |
| GATX Gatx | Q3 2026 | $598M | +36% | 32.2% |
Source: Virgin Galactic Holdings 10-Q on SEC EDGAR · CIK 1706946 · Transportation Services
13F: who owns SPCE and who is buying
More on SPCE
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results