Virgin Galactic Reports Q3 Earnings Thursday: Here's What Investors Need To Know

Virgin Galactic Holdings Inc. (NYSE:SPCE) shares are trading higher Wednesday as investors position themselves ahead of third-quarter earnings due Thursday after the close, with the commercial spaceflight timeline, cash burn and a technical setup showing a rebound all drawing attention.

• Virgin Galactic shares are advancing steadily. Why are SPCE shares climbing?

Earnings Preview & History

Virgin Galactic is scheduled to report third-quarter earnings on Thursday, Nov. 12, after the market closes. Analysts estimate a loss of 47 cents per share along with revenue of about $400,000.

For the prior quarter, Virgin Galactic reported a loss of 50 cents per share, beating the consensus estimate of a loss of 64 cents. The company also posted revenue of $134,000, beating the consensus estimate of $126,670. Virgin Galactic guided to third-quarter revenue of about $400,000 and free cash flow of negative $95 million to negative $100 million.

What to Watch: Delta Launch Timeline, Cash Burn and Dilution Risks

Investors will be closely tracking the timeline for commercial spaceflight, which Virgin Galactic pushed to February 2027 from late 2026 after its second-quarter results. Management said revenue recognition and customer cash inflows start when flights begin, so any change to that date would matter.

The Delta spaceship program will be in focus too. Virgin Galactic said its first ship is nearing completion, and a second is expected to join the fleet in March, and it said each new ship is projected to generate more than $1.4 billion in lifetime contribution margin.

Cash will draw attention as well. Free cash flow was negative $91 million in the second quarter, and Virgin Galactic guided to negative $95 million to $100 million in the third quarter, improving to negative $80 million to $90 million in the fourth, as capital spending declines and manufacturing winds down.

The company ended the second quarter with $286 million in cash, cash equivalents and marketable securities after raising $134 million through an at-the-market equity offering, so any new share sales would add to dilution concerns. 

Virgin Galactic Rebounds Above 50-Day Average at $2.83 but Stays Below 200-Day at $2.90

Virgin Galactic’s chart still reads like a rebound inside a longer downtrend, with the stock not yet back above its 200-day moving average. Over the past six months, shares bottomed at $2.41 on May 20, then surged to that June 1 peak before sliding to $2.25 on Nov. 5. The stock now trades at $2.88, making Wednesday’s premarket strength part of that bounce off the early-November low.

The trend, volume and momentum signals line up with the rebound, with price back above the 20-day and 50-day averages and MACD above its signal line.

A notable near-term development is that the stock moved back above its 50-day moving average at $2.83 today, a level that can matter because it often acts as a dividing line between short-term weakness and stabilization. The main tension is that shares remain below the 200-day average at $2.90, keeping the longer-term structure tilted lower.

A close back below $2.83, the 50-day average, would hand back the latest advance. Holding above that level keeps the recent rebound intact, while a move through the 200-day average at $2.90 would put the next test near resistance at $3.00.

Virgin Galactic has elevated short interest at 26.8% of float (as of Oct. 30), which can amplify day-to-day swings

Virgin Galactic Shares Edge Higher

SPCE Price Action: At the time of publication, Virgin Galactic shares are trading 2.51% higher at $2.86, according to data from Benzinga Pro.

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