Verified facts grounded in source documentation.
Virgin Galactic’s smallsat launch business was spun off into a separate company, Virgin Orbit.
Virgin Galactic signed a Space Act Agreement with NASA on 2020-05-05 to support research on high-speed point-to-point vehicles.
Virgin Galactic signed a Space Act Agreement with NASA’s Johnson Space Center to develop a private orbital astronaut readiness program.
Virgin Galactic signed an agreement with NASA on 2020-06-22 to support development of a program to train and potentially procure rides for private individuals seeking to fly to the International Space Station.
Virgin Galactic acquired a Boeing 747 from Virgin Atlantic in 2015 to serve as the LauncherOne carrier aircraft and the name "Cosmic Girl" dates back to the aircraft’s use by the airline.
In its 2020-05-05 earnings announcement, Virgin Galactic cautioned that it did not expect to generate significant revenue 2020 as it completes the flight test program for its SpaceShipTwo suborbital spaceplane.
Virgin Galactic filed an S-1 registration statement with the U.S. Securities and Exchange Commission on 2020-05-01 to register the resale of shares of a handful of its shareholders as part of its merger with Social Capital Hedosophia.
Virgin Galactic signed a Space Act Agreement with NASA to support work on future high-speed transportation systems.
Virgin Galactic reduced then suspended on-site operations at its manufacturing facility in Mojave, California and at Spaceport America in New Mexico in March 2020.
Virgin Galactic reported a net loss of $60,000,000 for the first quarter of 2020.
Virgin Galactic raised more than $682,000,000 in 2019, driven largely by its reverse merger with special-purpose acquisition company Social Capital Hedosophia and subsequent public trading of its stock.
Virgin Galactic merged with Social Capital Hedosophia in 2019 in a deal that provided the company with more than $800,000,000 to support development and to buy out some earlier investors.
Virgin Galactic reported adjusted EBITDA of –$187,000,000 for 2019, compared to adjusted EBITDA of –$132,000,000 in 2018.
Virgin Galactic’s net loss in the fourth quarter of 2019 was $72.8 million, compared to a net loss of $51,500,000 in the third quarter of 2019.
Virgin Galactic projected positive EBITDA in 2021 growing to $274,000,000 in 2023 in an investor presentation in September 2019.
Virgin Galactic reported a net loss of nearly $211,000,000 on revenue of about $3,800,000 for 2019.
On 2020-01-08 Virgin Galactic reported that the next SpaceShipTwo vehicle achieved a milestone called "weight on wheels" where the vehicle supported itself solely using its landing gear.
The merger with Social Capital Hedosophia provided Virgin Galactic with more than $430,000,000 in cash.
Finalists for Deal of the Year included SpaceX raising $1,000,000,000+, NASA’s Commercial Lunar Payload Services awards, OneWeb raising $1,000,000,000+, HawkEye 360’s $70,000,000 Series B, Virgin Galactic’s IPO, Relativity’s $140,000,000 round, the Raytheon-United Technologies merger, and the L3-Harris Corp. merger.
George Whitesides, chief executive of Virgin Galactic, supports partnering with Boeing to develop systems intended to change how people move around the planet and connect with one another.