Filing Flows › Virgin Galactic Holdings (SPCE) › Q1 2026
Virgin Galactic Holdings (SPCE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Virgin Galactic Holdings (SPCE) reported revenue of $227K for the first quarter 2026 (Q1 2026), -51% from a year earlier and -27% from the quarter before.
Virgin Galactic Holdings, Q1 2026: revenue $227K (-51% year over year), net loss $64.7M, operating cash flow −$53.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $227K | -27% | -51% |
| Operating profit | −$65.6M | — | — |
| Net earnings | −$64.7M | — | — |
| Operating cash flow | −$53.5M | — | — |
What changed
Revenue was $227K in Q1 2026, down 51% year over year and down 27% from the previous quarter.
Operating costs exceeded revenue by $65.6M, an operating margin of -28895.2%. Total costs fell 26% while revenue fell 51%. The fastest-growing cost line was Cost of revenue (+42%). The quarter ended with a net loss of $64.7M, wider than the previous quarter's $62.7M loss.
Operating cash flow was −$53.5M. Non-cash charges added back $3.9M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items added $3.2M. Capital expenditures of $39.8M exceeded it, leaving free cash flow of −$93.3M.
Questions
What was Virgin Galactic Holdings' revenue in the first quarter 2026?
Virgin Galactic Holdings (SPCE) reported revenue of $227K for the first quarter 2026 (Q1 2026), -51% from a year earlier and -27% from the quarter before.