# Virgin Galactic Holdings, Inc. (SPCE) — Stock CV

Virgin Galactic Holdings, Inc. is a $430M industrial company. Revenue shrank 38.9% over the last year, it currently loses money, and it holds more cash than debt.

> Virgin Galactic Holdings Inc is a United States-based vertically integrated aerospace company pioneering human spaceflight for private individuals & researchers, and it also manufactures air and space vehicles.

## Identity

- **Ticker**: SPCE
- **Sector**: Industrials
- **Industry**: Transportation Services
- **Headquarters**: TUSTIN, CA
- **Employees**: 694
- **Website**: https://www.virgingalactic.com
- **Market cap**: $430M
- **Last price**: $2.85
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $1.04M
- **Net income**: -$248M
- **Free cash flow**: -$386M
- **Net cash**: $30.7M
- **Revenue growth (YoY)**: -38.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 20 |
| Growth | 0 |
| Profitability | 0 |
| Health | 71 |
| Quality | 30 |
| Moat | 0 |

## Qualifications (beginner checklist) — 2 of 9 passed

- [ ] Revenue growing — -38.9% YoY
- [ ] Profitable — -$248M TTM
- [x] Profit growing — +19.6% YoY
- [ ] Generates cash — -$386M TTM
- [x] Debt under control — more cash than debt
- [ ] Established company — $430M market cap
- [ ] Not printing shares — +55.2% shares over ~5y
- [ ] Proven track record — 2/9 profitable years
- [ ] Financially stable — Altman Z -4.9 — distress

## Experience (career milestones)

- **FY2018** — Best year on record: $11.0M net income
- **FY2017** — First recorded profitable year: $1.33M net income

## Strengths

- Net cash position after subtracting debt from cash

## Watch-outs

- Revenue shrinking 38.9% year over year
- Not profitable — 23867.4% net margin
- Negative free cash flow (-$386.5M)
- Altman Z-Score -4.89 — elevated financial-distress risk
- Loss-making in 7 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.29M | -$353M | -$235M |
| FY2022 | $2.31M | -$500M | -$397M |
| FY2023 | $6.80M | -$502M | -$493M |
| FY2024 | $7.04M | -$347M | -$475M |
| FY2025 | $1.54M | -$279M | -$438M |

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Source: https://stockcv.com/SPCE — derived from company filings; may be delayed or incomplete. Information, not investment advice.