Virgin Galactic Holdings Inc. (SPCE) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1700 FLIGHT WAY TUSTIN, CA 92782 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 47 - Transportation Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 874,037 | 909,007 | 603,899 | 665,924 | 480,443 | 462 | |||
| Cash and cash equivalents | 216,799 | 302,291 | 524,481 | 665,924 | 480,443 | 462 | |||
| Short-term investments | 657,238 | 606,716 | 79,418 | ||||||
| Restricted cash and investments | 36,793 | 40,336 | 25,549 | 13,031 | 12,278 | ||||
| Receivables | 540 | 461 | |||||||
| Inventory, net of allowances, customer advances and progress billings | 16,301 | 24,043 | 29,668 | 30,483 | 26,817 | ||||
| Inventory | 16,301 | 24,043 | 29,668 | 30,483 | 26,817 | ||||
| Prepaid expense | 45 | ||||||||
| Other current assets | |||||||||
| Other undisclosed current assets | 23,698 | 28,228 | 19,476 | 17,949 | 16,672 | ||||
| Total current assets: | 950,829 | 1,001,614 | 678,592 | 727,927 | 536,671 | 508 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 19,555 | 16,632 | ✕ | ||||||
| Property, plant and equipment | 93,806 | 53,658 | 47,498 | 53,148 | 49,333 | ||||
| Long-term investments and receivables | 71,596 | 30,392 | 301,463 | ||||||
| Long-term investments | 71,596 | 30,392 | 301,463 | ||||||
| Other noncurrent assets | 63,286 | 54,274 | 41,281 | 3,001 | 2,615 | ||||
| Other undisclosed noncurrent assets | 359 | 295 | 704,250 | ||||||
| Total noncurrent assets: | 228,688 | 138,324 | 390,242 | 76,063 | 68,875 | 704,250 | |||
| TOTAL ASSETS: | 1,179,517 | 1,139,938 | 1,068,834 | 803,990 | 605,546 | 704,758 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 83,278 | 78,174 | 38,024 | 28,980 | 29,315 | 201 | |||
| Accounts payable | 32,415 | 16,326 | 9,237 | 5,998 | 7,038 | ||||
| Accrued liabilities | 50,863 | 61,848 | 28,787 | 22,982 | 22,277 | ||||
| Other undisclosed accounts payable and accrued liabilities | 201 | ||||||||
| Deferred revenue | 97,841 | 102,647 | 90,863 | 83,211 | 83,362 | ✕ | |||
| Debt | 446 | 2,401 | |||||||
| Other liabilities | 4,541 | ||||||||
| Due to related parties | ✕ | ✕ | 3,232 | 2,636 | 767 | 382 | |||
| Other undisclosed current liabilities | 2,384 | ||||||||
| Total current liabilities: | 185,660 | 184,053 | 131,523 | 115,021 | 115,845 | 582 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 417,886 | 415,720 | 24,694 | 22,141 | |||||
| Long-term debt, excluding current maturities | 417,886 | 415,720 | 310 | ||||||
| Finance lease, liability | 236 | 274 | ✕ | ||||||
| Liabilities, other than long-term debt | 70,495 | 59,942 | 43,047 | 1,757 | |||||
| Other liabilities | 70,495 | 59,942 | 43,047 | 1,757 | |||||
| Operating lease, liability | 24,148 | 21,867 | ✕ | ||||||
| Other undisclosed noncurrent liabilities | 135,440 | 24,150 | |||||||
| Total noncurrent liabilities: | 488,381 | 475,662 | 43,047 | 161,891 | 22,141 | 24,150 | |||
| Total liabilities: | 674,041 | 659,715 | 174,570 | 276,912 | 137,986 | 24,732 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 505,476 | 480,223 | 894,264 | 527,078 | 467,560 | 5,000 | |||
| Common stock | 40 | 28 | 26 | 23 | 20 | ||||
| Additional paid in capital | 2,631,197 | 2,111,316 | 2,019,750 | 1,297,794 | 589,158 | ||||
| Accumulated other comprehensive income (loss) | 371 | (7,326) | (1,869) | 5 | 59 | ||||
| Retained earnings (accumulated deficit) | (2,126,132) | (1,623,795) | (1,123,643) | (770,744) | (121,677) | 4,998 | |||
| Other undisclosed equity, attributable to parent | 2 | ||||||||
| Other undisclosed equity | 675,026 | ||||||||
| Total equity: | 505,476 | 480,223 | 894,264 | 527,078 | 467,560 | 680,026 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,179,517 | 1,139,938 | 1,068,834 | 803,990 | 605,546 | 704,758 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 6,800 | 2,312 | 3,292 | 238 | 3,781 | 12,309 | ||
| Other operating income | 12,309 | |||||||
| Cost of revenue | (50,538) | (1,906) | (272) | (173) | (2,004) | (100) | ||
| Cost of goods and services sold | (4,100) | (400) | (300) | (100) | ||||
| Gross profit: | (43,738) | 406 | 3,020 | 65 | 1,777 | 12,209 | ||
| Operating expenses | (474,402) | (489,292) | (322,555) | (275,349) | (215,039) | (1,344) | ||
| Other undisclosed operating loss | (13,369) | (11,098) | (12,209) | |||||
| Operating loss: | (531,509) | (499,984) | (319,535) | (275,284) | (213,262) | (1,344) | ||
| Nonoperating income | 42,497 | 12,560 | 1,365 | 2,291 | 2,425 | |||
| Investment income, nonoperating | 42,234 | 12,502 | 1,183 | 2,277 | 2,297 | |||
| Interest and debt expense | (12,872) | (12,130) | (26) | (36) | (36) | |||
| Loss from continuing operations before equity method investments, income taxes: | (501,884) | (499,554) | (318,196) | (273,029) | (210,873) | (1,344) | ||
| Other undisclosed loss from continuing operations before income taxes | (34,624) | (371,852) | ||||||
| Loss from continuing operations before income taxes: | (501,884) | (499,554) | (352,820) | (644,881) | (210,873) | (1,344) | ||
| Income tax expense | (453) | (598) | (79) | (6) | (62) | |||
| Loss from continuing operations: | (502,337) | (500,152) | (352,899) | (644,887) | (210,935) | (1,344) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (352,899) | (644,887) | (210,935) | (1,344) | |
| Net loss: | (502,337) | (500,152) | (352,899) | (644,887) | (210,935) | (1,344) | ||
| Other undisclosed net income attributable to parent | 12,309 | |||||||
| Net income (loss) available to common stockholders, basic: | (502,337) | (500,152) | (352,899) | (644,887) | (210,935) | 10,965 | ||
| Interest on convertible debt | 11,798 | |||||||
| Dilutive securities, effect on basic earnings per share | (11,798) | |||||||
| Net income (loss) available to common stockholders, diluted: | (502,337) | (500,152) | (352,899) | (644,887) | (210,935) | 10,965 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (502,337) | (500,152) | (352,899) | (644,887) | (210,935) | (1,344) | ||
| Comprehensive loss: | (502,337) | (500,152) | (352,899) | (644,887) | (210,935) | (1,344) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 7,697 | (5,457) | (1,874) | (54) | (23) | |||
| Comprehensive loss, net of tax, attributable to parent: | (494,640) | (505,609) | (354,773) | (644,941) | (210,958) | (1,344) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.