8-KCurrent report
Results of operations
✓ VerifiedVirgin Galactic delayed its first commercial spaceflight to February 2027 from Q4 2026 and reported a Q2 2026 net loss of $56 million with $286 million in cash, cash equivalents and marketable securities.
Filed Aug 12, 2026 · 16:13 ET
Summary
- The first commercial spaceflight moved to February 2027 rather than the fourth quarter of 2026 to complete avionics and systems installations, with a second spaceship planned to join the fleet in March 2027.
- Revenue was $0.1 million in the second quarter of 2026, compared to $0.4 million in the second quarter of 2025, and net loss was $56 million versus a $67 million net loss a year earlier.
- A tranche of spaceflight expeditions priced at $750,000 was oversubscribed and booked out ahead of schedule, adding over $50 million to expected future spaceflight revenue.
- Cash, cash equivalents and marketable securities totaled $286 million as of June 30, 2026, and the Company generated $134 million in gross proceeds by issuing 41 million shares under its at-the-market offering program.
- The Company reduced the notes due February 2027 principal by $52.5 million to $17.9 million and cut the notes due December 2028 principal by $40.5 million during the second quarter.
- Free cash flow for the third quarter of 2026 is guided to a range of $(95) million to $(100) million, and the Company anticipates positive quarterly cash flow within 2027.
Key facts
- First commercial spaceflight timing
- February 2027
From the filing for First commercial spaceflight timing
“First Commercial Spaceflight Moves to February 2027 to Complete Systems Installations; Positive Quarterly Cash Flow Expected Within 2027”
- Cash position
- $286 million
From the filing for Cash position
“Cash position remains strong, with cash, cash equivalents and marketable securities of $286 million as of June 30, 2026.”
- Q2 2026 revenue
- $0.1 million
From the filing for Q2 2026 revenue
“Revenue of $0.1 million, compared to $0.4 million in the second quarter of 2025, attributable to access fees related to future astronauts.”
- Net loss
- $56 million
From the filing for Net loss
“Net loss of $56 million, compared to a $67 million net loss in the second quarter of 2025”
- Spaceflight tranche price
- $750,000
From the filing for Spaceflight tranche price
“Oversubscribed at $750,000 Price Point, Representing an Addition of Over $50 Million to Expected Future Spaceflight Revenue”
- ATM offering proceeds
- $134 million
From the filing for ATM offering proceeds
“Generated $134 million in gross proceeds through the issuance of 41 million shares of common stock as part of the Company's at-the-market offering program.”
- Notes due February 2027
- reduced by $52.5 million to $17.9 million
From the filing for Notes due February 2027
“For the notes due February 2027, the Company reduced the outstanding principal balance by $52.5 million during the second quarter of 2026 to $17.9 million.”
- Q3 2026 free cash flow guidance
- $(95) million to $(100) million
From the filing for Q3 2026 free cash flow guidance
“Free cash flow for the third quarter of 2026 is expected to be in the range of $(95) million to $(100) million.”
Why it mattersThe commercial service date slips from the fourth quarter of 2026 to February 2027, pushing revenue-generating flights later. The Company retired debt and raised equity while targeting positive quarterly cash flow within 2027.
- Filed
- Aug 12, 2026
- Accepted
- 2026-08-12 20:13Z
- Period
- Aug 12, 2026
- Accession no.
- 0001706946-26-000126
- Size
- 1.0 MB
- Index
- Filing index