Virgin Galactic

Sponsor-and-celebrity capital chasing a long-payoff sector.

Latest filing on file · 2025-12-31

Revenue: $2M; FY2025 · USD; 10-K · period ended 2025-12-31Source
Operating margin: -18480.8%; FY2025; Operating income / revenue · filingSource
Operating cash flow: −$240M; FY2025 · USD; 10-K · period ended 2025-12-31Source
Capital expenditures: $198M; FY2025 · USD; 10-K · period ended 2025-12-31Source

Overview

Business model and origins

Turn experimental reusable spacecraft into a premium consumer experience and use private demand to finance a new category of human spaceflight.

1 episode2020-11 case file as of

Origin

Virgin Galactic paired the Virgin brand and Branson's capital network with Burt Rutan's air-launch architecture. The episode follows the company through technical setbacks, vertical integration, sovereign investment, and a SPAC transaction that financed a still-pre-revenue operating plan.