Nov. 16, 2025 5:37 AM ETVirgin Galactic Holdings, Inc. (SPCE) StockSPCETangerine Tan Capital2.94K FollowersCommentsSummaryVirgin Galactic Holdings reported Q3 revenue of $365,000 and improved EPS, but liquidity concerns remain unresolved.SPCE's cash burn improved to -$108 million, with $424 million in cash, but convertible notes of $421 million are due in 2027.The timeline for Delta commercial flights appears optimistic, with significant risks of delays and potential shareholder dilution.Given high cash burn, looming debt, and uncertain revenue, I maintain a sell rating on SPCE due to the unfavorable risk-to-reward profile.bymuratdeniz/E+ via Getty ImagesThe Virgin Galactic Investment ThesisA few days ago, Virgin Galactic Holdings, Inc. (SPCE) published its Q3 numbers. With total revenues of $365,000, the expectations were surpassed by $50k, and the EPS were also better than analysts had estimated.However, theThis article was written byTangerine Tan Capital2.94K FollowersMy primary area of concentration will be on identifying companies of exceptional caliber, with a proven ability to reinvest capital for impressive returns. The ideal scenario is for these companies to demonstrate a long-term capability of capital compounding, with a high enough compound annual growth rate to potentially deliver tenfold returns or even greater.My approach is to maintain a long-term perspective on these companies, as I believe this will generate higher returns compared to the market index, in a rapidly evolving investment landscape where short-term holdings are becoming increasingly prevalent.I primarily adopt a conservative investment strategy, but occasionally I may pursue opportunities with a favorable risk-reward ratio where the potential upside is substantial and downside is limited. These ventures are carefully considered and allocated a proportional amount within my portfolio to maintain overall stability.Bachelor's degree in finance and accounting All ideas and articles are provided for informational and educational purposes. Nothing contained herein is investment advice or should be construed as investment advice. All decisions that you make after reading our articles and reports are 100% your responsibility.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments