In after-hours trading on Thursday, Virgin Galactic Holdings Inc. (SPCE) gained 5.61% at $33.30. The price of SPCE stock finished the regular trading session at $31.53 after gaining 2.44%. Prices of Virgin Galactic ranged between $30.60 and $32.16. The SPCE stock traded 13.02 million shares, below its daily average of 30.17 million shares over the past 100 days. In the last five days, Virgin Galactic gained 2.44%, while in the past month it lost -29.81%. SPCE stock continued to rallies afterhours after its quarterly results prompted a surge during the regular session.

SPCE’s performance in the last quarter:

Virgin Galactic provides advanced air and space vehicles for private individuals and researchers looking to fly into space. SPCE is a vertically integrated aerospace and space travel provider. Using spaceflight technology, Virgin Galactic is building a system that allows the entire world to experience the wonder and awe of space travel.

Virgin Galactic announced its financial results for the second quarter yesterday for period ended 30 June 2021.

Highlights of SPCE’s Q2 financial performance:

• A total of $1 million in cash was paid by Virgin Galactic for capital expenditures, compared to $6 million in the second quarter of 2020.
• As of the second quarter of 2021, SPCE had GAAP selling, general, and administrative expenses of $39 million as opposed to $26 million of that in a year-ago quarter.
• SG&A expenses of $26 million incurred by Virgin Galactic in the second quarter of 2021 were higher than those of $21 million in the second quarter of 2020.
• Virgin Galactic spent $36 million on research and development in the second quarter of 2021 versus $37 million in the second quarter of 2020.
• In Q2 2021, non-GAAP research and development expenses were $31 million, compared to $34 million in Q2 2020.
• SPCE reported a net loss of $94 million compared to a $72 million loss in the second quarter of 2020.
• SPCE’s adjusted EBITDA for the second quarter of 2021 was ($56) million, up from ($54) million in a year-ago quarter.
• The cash position of Virgin Galactic continued to be strong, with $552 million in cash and cash equivalents as of June 30, 2021.

Reservations for space are now open:

Virgin Galactic (SPCE) is on track to begin commercial service in 2022. Two spaceflights were successfully completed by SPCE from New Mexico, the latest including crew members and garnering immense media and public interest worldwide. Moreover, SPCE has received FAA approval to expand its existing launch license, becoming the first Spaceline to receive such a license. Virgin Galactic (SPCE) announced that it was reopening sales immediately, starting with the Spacefarer community, so as to capitalize on the surge in consumer interest. SPCE’s early hand-raisers will have the first opportunity to purchase their place in space, as the Spacefarer Community will get priority.