Filing Flows › Virgin Galactic Holdings (SPCE) › Q2 2025
Virgin Galactic Holdings (SPCE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Virgin Galactic Holdings (SPCE) reported revenue of $406K for the second quarter 2025 (Q2 2025), -90% from a year earlier and -12% from the quarter before.
Virgin Galactic Holdings, Q2 2025: revenue $406K (-90% year over year), net loss $67.3M, operating cash flow −$55.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $406K | -12% | -90% |
| Operating profit | −$69.9M | — | — |
| Net earnings | −$67.3M | — | — |
| Operating cash flow | −$55.4M | — | — |
What changed
Revenue was $406K in Q2 2025, down 90% year over year and down 12% from the previous quarter.
Operating costs exceeded revenue by $69.9M, an operating margin of -17227.1%. Total costs fell 34% while revenue fell 90%. The fastest-growing cost line was Other operating costs (+28%). The quarter ended with a net loss of $67.3M, narrower than the previous quarter's $84.5M loss.
Operating cash flow was −$55.4M. Non-cash charges added back $4.2M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items added $2.8M. Capital expenditures of $58.4M exceeded it, leaving free cash flow of −$113.8M.
Questions
What was Virgin Galactic Holdings' revenue in the second quarter 2025?
Virgin Galactic Holdings (SPCE) reported revenue of $406K for the second quarter 2025 (Q2 2025), -90% from a year earlier and -12% from the quarter before.