Virgin Galactic Stock Soars 20% on Better-Than-Expected Q1 Results
Virgin Galactic (NYSE:SPCE) shares climbed about 20% in pre-market trading on Friday after the space tourism company topped Q1 forecasts and stuck to its flight schedule.
The company reported a net loss of $84.5 million, or $2.38 per share, for the quarter, an improvement from the $5.10 per-share loss a year ago. Revenue slid to $0.5 million from $2.0 million in Q1 2024, reflecting the ongoing pause in commercial flights as development continues on its Delta-class spacecraft.
Warning! GuruFocus has detected 5 Warning Signs with SPCE.
Operating expenses fell 21% year over year to $89 million, helping narrow the quarterly deficit. Adjusted EBITDA improved to a negative $72 million, versus $87 million last year. Free cash flow remained roughly flat at $122 million, with $567 million in liquidity on hand.
Management reiterated plans to fly its first research payloads in summer 2026 and begin private astronaut missions in fall 2026, but offered no acceleration to that timeline. With cash burn persisting and no change to its roadmap, investors may remain cautious despite the better-than-expected results.
Based on the one year price targets offered by 7 analysts, the average target price for Virgin Galactic Holdings Inc is $8.82 with a high estimate of $36.00 and a low estimate of $1.00. The average target implies a upside of +163.33% from the current price of $3.35.
This article first appeared on GuruFocus.
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