Filing Flows › Virgin Galactic Holdings (SPCE) › Q4 2025
Virgin Galactic Holdings (SPCE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 30, 2026
Virgin Galactic Holdings (SPCE) reported revenue of $312K for the fourth quarter 2025 (Q4 2025), -27% from a year earlier and -15% from the quarter before.
Virgin Galactic Holdings, Q4 2025: revenue $312K (-27% year over year), net loss $62.7M, operating cash flow −$52.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $312K | -15% | -27% |
| Operating profit | −$60.8M | — | — |
| Net earnings | −$62.7M | — | — |
| Operating cash flow | −$52.5M | — | — |
What changed
Revenue was $312K in Q4 2025, down 27% year over year and down 15% from the previous quarter.
Operating costs exceeded revenue by $60.8M, an operating margin of -19483.0%. Total costs fell 26% while revenue fell 27%. The quarter ended with a net loss of $62.7M, narrower than the previous quarter's $64.4M loss.
Operating cash flow was −$52.5M. Non-cash charges added back $4.0M of depreciation and amortization and $4.4M of share-based compensation. Capital expenditures of $42.2M exceeded it, leaving free cash flow of −$94.6M.
Questions
What was Virgin Galactic Holdings' revenue in the fourth quarter 2025?
Virgin Galactic Holdings (SPCE) reported revenue of $312K for the fourth quarter 2025 (Q4 2025), -27% from a year earlier and -15% from the quarter before.