Virgin Galactic Holdings Inc. has reported its financial results for the first quarter of 2025. The company's revenue was recorded at $0.5 million, a decrease from $2.0 million in the first quarter of 2024. This decline is attributed to the halt in commercial spaceflights as Virgin Galactic focuses on the production of its Delta Class SpaceShips. The company's free cash flow was $(122) million, compared to $(126) million in the same period last year. Virgin Galactic's cash position remains strong, with cash, cash equivalents, and marketable securities totaling $567 million as of March 31, 2025. Additionally, the company generated $31 million in gross proceeds through the issuance of 6.9 million shares of common stock. Significant business updates include plans for the first spaceflight with new SpaceShips carrying research payloads scheduled for summer 2026 and private astronaut spaceflights anticipated for fall 2026. The company is also conducting a feasibility study to potentially develop a second spaceport in Italy. Future astronaut sales are expected to open in the first quarter of 2026, and commercial spaceflight is planned to commence in summer 2026 with the first research space mission.
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