Virgin Galactic SPCE Q2 2021 Results

Virgin Galactic VSS Unity’s passenger race plan, led by Richard Branson and crew, begins its ascent to the edge of space above Spaceport America near Truth or Consequences, New Mexico, US on 11 of July 2021 in a firm picture from the video.

Virgin Galactic | via Reuters

Virgin Galactic released second-quarter results after the market closed Thursday and announced it will reopen ticket sales, with prices starting at $ 450,000 per seat.

The company also announced that its next space flight test is scheduled for the end of September from Spaceport America in New Mexico, bringing in members of the Italian Air Force.

Shares of Virgin Galactic have increased 4% in trading after hours since their end of $ 31.53.

Virgin Galactic reported an adjusted EBITDA loss of $ 56 million in the second quarter, just above the loss of $ 55.9 million in the previous quarter. It generated $ 571,000 in revenue in the second quarter, coming from scientific research experiments aboard its May space flight test.

The company took two spaceflight tests during the quarter, with the first marking its debut from Spaceport America in New Mexico. The second flight took founder Richard Branson and three other mission specialists to test the vehicle’s cockpit.

The company’s leadership previously announced that it would fly two more tests of the VSS Unity spacecraft, with the former carrying four other “mission specialists” and the latter flying members of the Italian Air Force. Branson had announced after his space flight that former Virgin Galactic CEO George Whitesides would fly on the company’s next space flight test, as CNBC reported last month. But that plan seems to have changed with the Italian space flight, designated as the Unity 23 flight, now scheduled for next.

Virgin Galactic pauses spaceflight operations for a four-month “reinforcement period” announced earlier, before launching its Unity 24 spaceflight test. Then, with Unity 25 flight, Virgin Galactic plans to begin services. commercial with its first undeveloped flight.

The space tourism company is conducting space flight tests as the last step in the development of its vehicle, with the goal of initiating passenger flights in early 2022. The company has about 600 reservations for tickets on future flights, with those tickets sold widely between $ 200,000 and $ 250,000 each.

Virgin Galactic will have three different sales offers, starting at $ 450,000 a seat, for space tourists: A one-seat purchase, packed seats for couples, friends or family, or opportunities to book entire flights. The company noted that sales will initially give priority to Virgin Galactic’s “significant list of early manual lifts,” with a “priority list to follow” to open for new customers.

Its VSS Unity spacecraft was designed to carry six passengers – in addition to two pilots – but the vehicle is now equipped to carry four, with Virgin Galactic confirming that its spacecraft with Branson represents a “fully equipped” launch.

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