Virgin Galactic Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 04:15 pm EST
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Virgin Galactic Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 2.81 million compared to USD 0.869 million a year ago. Net loss was USD 103.98 million compared to USD 150.82 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to USD 0.55 a year ago.
For the full year, the company reported sales was USD 6.8 million compared to USD 2.31 million a year ago. Net loss was USD 502.34 million compared to USD 500.15 million a year ago. Basic loss per share from continuing operations was USD 1.49 compared to USD 1.89 a year ago.
Virgin Galactic Holdings, Inc. is an aerospace and space travel company, which offers access to space for private individuals, researchers, and government agencies. The Companyâs operations include design and development, manufacturing, ground and flight testing, and post-flight maintenance of its spaceflight system vehicles. The Company has developed a portfolio of proprietary technologies that are embodied in the specialized vehicles that it has created to enable commercial spaceflight. These technologies include carrier aircraft, the mothership; its spaceships; its hybrid rocket motor, and its safety systems. Its Carrier Aircraft-The Mothership is a twin-fuselage, custom-built aircraft designed to carry spaceships up to an altitude of approximately 45,000 feet, where the spaceship is released for its flight into space. Its Virgin Galactic spaceships are reusable with the capacity to carry pilots and private astronauts, research experiments and researchers.