3 Things You Need to Know From Virgin Galactic's Earnings Call
Space tourism company Virgin Galactic (NYSE: SPCE) reported full-year 2023 earnings at the end of February. This closed out a "record" year for spaceflight, in which the company flew its VSS Unity spaceplane seven times, and tripled its annual revenue. And what did this mean for the company's multi-year history of losing money and burning cash?
Losses increased by $2 million, and cash burn grew by 24%, to $492.5 million. That's according to S&P Global Market Intelligence, a provider of financial data on U.S. companies.
But beyond the headlines, S&P Global also provided audio from the post-earnings conference call that Virgin Galactic held with Wall Street analysts. It was there that investors learned three more things about Virgin Galactic, its plans, and its future prospects.
Source Fool.com
