How Long Can Virgin Galactic Survive Without Revenue?
2023 was a milestone year for Virgin Galactic (NYSE: SPCE). Beginning with its first commercial, revenue-generating spaceflight in June, Virgin went on to fly a total of five "Galactic" missions to the edge of space and back, and generated about $6.8 million in total revenue.
Granted, this wasn't quite enough to cover the company's $527.1 million in operating costs last year. On the bottom line, the company reported a loss of $502.3 million. Still, it was an accomplishment that, after years of work, Virgin Galactic finally managed to get its space tourism business up and running.
And now, it's time to shut it down.
Source Fool.com
