Virgin Galactic Holding, Inc. (SPCE) Stock Up in Premarket After Opening Limited Spaceflight Reservation Opportunity

Virgin Galactic Holding, Inc. (SPCE) is a leading global aerospace and space traveling company. The company has pioneered private individuals and researchers’ spaceflight with its modernized space vehicles. The company offers its customers a transformative experience.

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The price of SPCE stock during regular trading on February 14, 2022, with a 3.55% decline was $8.14. At last check in the premarket on February 15, 2022, the stock rise by 11.9%.

SPCE: Events and Happenings

On February 15, 2022, SPCE updated that the sales of tickets will open on February 16 for the general public. The individuals can also secure their membership in the Future Astronauts community.

SPCE: CEO Comments

Speaking at the occasion, CEO of SPEC Michael Colglazier stated that the company is planning to have its preliminary 1,000 clients on board at the commencement of commercial service in late 2022. He further added that the company is providing a strong foundation as it begins the regular operations and scales its fleet. 

On January 27, 2022, SPCE informed that it will announce its financial statement for the fourth quarter of 2021 on February 22, 2022. On January 14, 2022, SPCE announced the pricing of its offering of $425 million of 2.50% convertible senior notes in a private offering. The issuance and sale of the notes were settled on January 19, 2022, with respect to customary closing conditions. The company also granted the preliminary notes acquirers an option to acquire, an additional $75 million notes.

SPCE: Key Financials

On November 8, 2021, SPCE released its key financial outcomes for three months ended September 30, 2021. Some of the important updates are discussed here.

Revenue

Total revenue in the third quarter of 2021 was $2.58 million compared to no revenue in the same quarter of 2020. The company topped the estimated revenue by $894.2 thousand.

EPS

Diluted net loss per share in Q3 2021 was $48.3 million or $0.32 compared to $92.01 million or $0.41 in the same quarter of 2020. The company observed a decrease in net loss over the yearly period. The company topped the analysts’ estimated EPS by $0.09.

Conclusion

SPCE is 83% down the past year due to economic restrictions at the peak of the pandemic. As the company reported to open the opportunity to acquire future spaceflight reservations, its stock took a leap in the premarket. Also, the date of fourth-quarter financials is approaching and the company expects revenue of $441.5 thousand and EPS of -$0.35.