Virgin Galactic Is Losing the Space Race
"Demand for tickets remains strong."
That was Virgin Galactic's (NYSE: SPCE) opening line when announcing its first-quarter 2022 earnings on Thursday last week, describing how the company lost $93 million on $319,000 in revenue -- but progressed to record "approximately 800 Future Astronaut reservations" for flights to space and back aboard its small fleet of spaceplanes.
But here's the thing: Virgin Galactic first revealed that it had 600 reservations in hand way back in December 2018. And this means that over the nearly three-and-a-half years since making that announcement, the company has actually added only about 200 new customers to its reservations list -- which, I have to say, is not a lot of new space tourism customers.
Source Fool.com
