Virgin Galactic Misses on Revenue as It Works Toward Commercial Space Flights
- Company sees $1 million in revenue in third, fourth quarters
- Space-tourism profit elusive until next-gen craft in 2026
The Virgin Galactic SpaceShipTwo space plane Unity in 2021.
Photographer: Patrick T. Fallon/AFP/Getty Images
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Virgin Galactic Holdings Inc. undershot analysts’ estimates in the latest quarter even as the space-tourism company gears up for monthly commercial flights.
The company on Tuesday reported second-quarter sales of $1.87 million, below the $2.47 million analysts had expected and above the $390,000 for the first three months of the year. It forecast earning about $1 million in revenue in each of the last two quarters of 2023.