Virgin Galactic Reports Another Quarter Without Revenue

Virgin Galactic Holdings (NYSE: SPCE) generated no revenue in the first quarter and posted a wider than expected loss, a fresh reminder of the challenges the space tourism company faces in the months to come.

On Monday after markets closed Virgin Galactic reported a first-quarter loss of $0.55 per share on zero revenue, well short of analyst expectations for a $0.27 per share loss on revenue of $330,000. The net loss of $130 million was an improvement over the $337 million net loss in the first quarter of 2020, and the company still has $617 million in cash on the books.

Image source: Virgin Galactic.

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Source Fool.com