
Virgin Galactic reported Q3 2025 revenue of $0.37M (rounded from $365,000), slightly exceeding estimates of $0.31M–$0.34M. The company posted an EPS loss of -$1.09 for the quarter and forecasted Q4 2025 revenue of approximately $0.3M, with free cash flow expected to be in the range of -$90M to -$100M.
Bullish
The new oxidizer tank design is qualified for the life of the Delta class spaceships (500+ spaceflights), representing an order of magnitude increase in reusability.
Bearish
The fuselage, specifically the forward fuselage lower skin, has been driving the critical path due to manufacturing complexity and supply chain needs, requiring process refinement and potentially impacting the timeline.