Filing Flows › Virgin Galactic Holdings (SPCE) › Q3 2025
Virgin Galactic Holdings (SPCE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Virgin Galactic Holdings (SPCE) reported revenue of $365K for the third quarter 2025 (Q3 2025), -9% from a year earlier and -10% from the quarter before.
Virgin Galactic Holdings, Q3 2025: revenue $365K (-9% year over year), net loss $64.4M, operating cash flow −$56.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $365K | -10% | -9% |
| Operating profit | −$66.2M | — | — |
| Net earnings | −$64.4M | — | — |
| Operating cash flow | −$56.3M | — | — |
What changed
Revenue was $365K in Q3 2025, down 9% year over year and down 10% from the previous quarter.
Operating costs exceeded revenue by $66.2M, an operating margin of -18127.7%. Total costs fell 19% while revenue fell 9%. The quarter ended with a net loss of $64.4M, narrower than the previous quarter's $67.3M loss.
Operating cash flow was −$56.3M. Non-cash charges added back $4.1M of depreciation and amortization and $4.7M of share-based compensation. Capital expenditures of $51.5M exceeded it, leaving free cash flow of −$107.8M.
Questions
What was Virgin Galactic Holdings' revenue in the third quarter 2025?
Virgin Galactic Holdings (SPCE) reported revenue of $365K for the third quarter 2025 (Q3 2025), -9% from a year earlier and -10% from the quarter before.