Virgin Galactic reports first loss since stock went public

For many reasons, mostly political but partly ethical, I do not use Google, Facebook, Twitter. They practice corrupt business policies, while targeting conservative websites for censoring, facts repeatedly confirmed by news stories and by my sense that Facebook has taken action to prevent my readers from recommending Behind the Black to their friends.
Thus, I must have your direct support to keep this webpage alive. Not only does the money pay the bills, it gives me the freedom to speak honestly about science and culture, instead of being forced to write it as others demand.


Please consider donating by giving either a one-time contribution or a regular subscription, as outlined in the tip jar below.


Regular readers can support Behind The Black with a contribution via paypal:

Or with a subscription with regular donations from your Paypal or credit card account:

If Paypal doesn't work for you, you can support Behind The Black directly by sending your donation by check, payable to Robert Zimmerman, to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652


You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.

Capitalism in space: Virgin Galactic today released its first quarterly report since the company’s stock went public in October, reporting a net loss of $51.5 million during the third quarter of 2019.

The stock initially opened in October at $12.93. It quickly dropped 25% in value, and has generally been trading at about $10 a share since. With today’s release the stock immediately dropped below $10, but it appears to have settled at around $9.75, for the moment.

According to this story, they presently have reservations from 600 people for suborbital flights, and have received 3,557 inquiries about flight reservations as of the end of September.”



  • Col Beausabre

    Of course, they reported a loss, they have no income. If they have 600 reservations, they may have a plie of cash, they also have 600 debts and not a penny of revenue. If I pay them $1K to reserve a flight, it is not recorded as revenue, it is recorded as an increase to Cash of $1K and a corresponding Debt of $1K (they owe me a flight). When they send me up, the debt is reversed (goes to zero) and $1K of revenue recognized. This is all Accounting 101. Unless Branson is selling VG tchotchkes or something (wouldn’t put it past him), they have no sales to record.

    In my personal accounts I have moved $1K from the asset Cash to another asset, Prepaid Flights They owe me either a flight or my money back. (or I could sell the reservation to you, like any other asset)

    Speculation 1) the loss was bigger than the Street expected 2) Buyers remorse at seeing the word “loss” drove the stock price down.

  • Jim Davis

    …and have received “3,557 inquiries about flight reservations as of the end of September.”

    But since when? Since Virgin Galactic was first organized? Since it went public? I’m guessing the former which is not encouraging.

  • Lee S

    I wonder what their policy is on getting your deposit back?
    If I had a few 10’s of 1000’s to spend on a suborbital flight… I’d be depositing with Blue Origens at this point…
    There must be a sound reason SpaceX has never given the option for a tourist suborbital “experience”… Not even genuinely advertised an orbital tourist package… ( Around the moon notwithstanding… For the silly rich..)
    I’m sad to say it, but I agree with our host… Virgin Galactic is as good as dead in the water… Too low specs, too long development time, and the only “new space” company to have deaths… Multiple ones during development…
    My shares ( if I had any ) would have been offloaded long ago..

  • pzatchok

    I’ll buy in when they get down to the penny stock range.

Leave a Reply

Your email address will not be published. Required fields are marked *