$SPCE - Commercial Flights On Track for 2026 - Virgin GalacticVirgin Galactic Holdings, Inc.BATS:SPCEMannyLoVirgin Galactic reported a Q3 2025 net loss of $64 million, improving from $75 million a year ago. Operating expenses declined to $66–67 million (from ~$82 million), and adjusted EBITDA improved to -$53 million, reflecting stronger cost control. Revenue totaled approximately $0.4 million, mainly from customer access fees as the company prepares for future commercial flights. Virgin Galactic ended the quarter with $424 million in cash, cash equivalents, and marketable securities, providing a solid liquidity buffer for ongoing development. On-Track Flight Schedule: The company reaffirmed that its flight-test program will begin in Q3 2026, with first commercial flights targeted for Q4 2026. Upcoming Ticket Sales: Ticket sales for the next-generation Delta-class spacecraft are expected to open in Q1 2026, marking a key milestone toward revenue generation. Manufacturing Progress: Approximately 90 % of structural components for the first Delta-class vehicle are expected to be in production by Q4 2025. Improving Cash Burn: Free cash flow usage narrowed to -$108 million, compared to -$118 million a year prior, indicating improved capital efficiency. ------------------------------------------------------------------------------------------- Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise. Feel free to give us a follow and shoot us a like for more analysis updates.