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Virgin Galactic Reports Q1 Earnings, Secures NASA Space Contract

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Virgin Galactic Reports Q1 Earnings, Secures NASA Space Contract

Virgin Galactic Holdings (NYSE: SPCE) reported quarterly losses of 30 cents per share on Tuesday, which missed the analyst consensus estimate by 15 cents. This is a 36.36% decrease over losses of 22 cents per share from the same period last year.

The company reported $238,000 in sales this quarter, down from sales of $1.782 million the same period last year.

Virgin Galactic’s wholly owned subsidiary, the Spaceship Company, also announced today the signing of a Space Act Agreement with NASA to collaborate and advance the U.S. efforts to produce technically feasible, high Mach vehicles for potential civil applications.

Virgin Galactic Holdings shares were trading up 6% at $17.64 in Tuesday’s after-hours session. The stock has a 52-week high of $42.49 and a 52-week low of $6.90.

Correction: A previous version of this story said Virgin Galactic reported sales of $238 million down from $1.782 billion last year.

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