Virgin Galactic Shares Rise on Commercial Spaceflight Plans, Narrower 1Q Loss

Dow Jones

May 16, 2025

By Kelly Cloonan

Shares of Virgin Galactic climbed after the company shared upcoming plans to restart commercial spaceflights and logged a narrower loss in the first quarter.

The stock rose 16% to $3.87 in after-hours trading. Shares have declined 84% over the past 12 months through Thursday's close.

The company plans to relaunch commercial spaceflights in 2026. Its first research space mission is planned for summer 2026 and private astronaut spaceflights are planned for fall of the same year.

Chief Executive Michael Colglazier said the company made strong progress on building its new spaceships in the first quarter as it targets commercial flights.

"The assets being built as we march through our pre-revenue phase are tremendous, and we expect them to open up a powerful and profitable business model," Colglazier said.

The company also said it is partway through a feasibility study as it looks to develop a second space port in Italy.

For the first quarter, the company posted a loss of $84.5 million, or $2.38 a share, compared with a loss of $102 million, or $5.10 a share, a year earlier.

Revenue fell to $461,000 from $2 million a year ago.

The lower revenue was driven by a pause in commercial spaceflights to focus on the production of new spaceships, the company said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 15, 2025 18:37 ET (22:37 GMT)

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