Virgin Galactic Holdings, Inc.

NYSE:SPCE Stock Report

Market Cap: US$290.2m

Virgin Galactic Holdings Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Michael Colglazier

Chief executive officer

US$10.7m

Total compensation

CEO salary percentage10.16%
CEO tenure6yrs
CEO ownership0.2%
Management average tenure5.1yrs
Board average tenure5.4yrs

Recent management updates

Analysis Article • May 29

Here's Why Shareholders May Want To Be Cautious With Increasing Virgin Galactic Holdings, Inc.'s (NYSE:SPCE) CEO Pay Packet

Key Insights Virgin Galactic Holdings to hold its Annual General Meeting on 5th of June Total pay for CEO Michael...

Recent updates

Narrative Update • Jul 10

SPCE: Ticket Sales And Testing Milestones Will Support Future Upside Potential

Analysts have trimmed their price target on Virgin Galactic Holdings from $4.08 to $3.55 per share, citing updated views on fair value, discount rate assumptions and future P/E, even as they highlight progress on the Delta spaceship program, ticket sales at $750,000, and what they describe as a current cash position that provides a window of safety. Analyst Commentary Recent research on Virgin Galactic Holdings highlights a mix of optimism around the Delta spaceship timeline and ticketing progress, along with caution that feeds into the latest reduction in price targets.
Seeking Alpha • Jun 26

Virgin Galactic: Everything Has To Go Right

Summary Virgin Galactic receives a sell rating due to unsustainable cash burn, persistent dilution, and a business model yet to be validated. SPCE's Q1 negative FCF was $93.3 million on just $200k revenue, with Q2 losses expected at $87–92 million, pressuring its $251 million cash balance. Debt reduction has come primarily via equity issuance, increasing dilution risk before Delta Class commercial flights even begin. Despite $750K ticket pricing and $186 million in reservations, execution, regulatory, and funding risks outweigh potential upside at current valuation. Read the full article on Seeking Alpha
Narrative Update • Jun 26

SPCE: Delta Test Milestones And Ticket Sales Will Drive Upside Potential

Virgin Galactic Holdings' analyst fair value estimate has been reduced from $8.00 to $5.00 as analysts assess progress on the Delta spaceship program, the reopening of ticket sales at $750,000 per seat, and the company’s cash runway in light of updated assumptions for revenue growth, margins, discount rate, and future P/E. Analyst Commentary Recent Street research on Virgin Galactic Holdings centers on execution milestones for the Delta spaceship program, the timing and pricing of ticket sales, and the company’s cash position.
Analysis Article • May 29

Here's Why Shareholders May Want To Be Cautious With Increasing Virgin Galactic Holdings, Inc.'s (NYSE:SPCE) CEO Pay Packet

Key Insights Virgin Galactic Holdings to hold its Annual General Meeting on 5th of June Total pay for CEO Michael...
Seeking Alpha • Apr 30

Virgin Galactic: One Spark Could Set This Doomed Stock On Fire, But It Takes Nerve

Summary Virgin Galactic faces a highly speculative future with two possible outcomes: bankruptcy or success in the space tourism market. The company has cash to survive for the next couple of years, but significant risks remain with delays, high cash burn, and debt issues. Despite a low stock valuation, Virgin Galactic's stock could see a sharp rise if any positive news or catalysts emerge. Investors seeking high upside with lower risk might consider long-term call options (LEAPS) rather than buying the stock directly. The company’s future success all comes down to hitting some pretty big goals by 2026, but there’s a lot that could go wrong along the way. Read the full article on Seeking Alpha
Seeking Alpha • Jan 23

Virgin Galactic: Downward Spiral

Summary Virgin Galactic's declining market capitalization is undermining its ability to raise capital. This is important because of its high cash burn and declining cash balance. Meaningful revenue is likely still at least 2 years away and positive cash flow even further away. The company's tenuous position is made worse by a debt maturity date that is drawing nearer. Read the full article on Seeking Alpha
Seeking Alpha • Sep 20

Virgin Galactic: I Like The Vision, But Execution Is The Key

Summary Virgin Galactic's potential hinges on achieving ambitious flight goals; execution and early results are crucial before considering a rating upgrade. SPCE's cash reserves are tight, with significant negative FCF expected through FY25. The long-term market potential is significant, but I remain cautious, awaiting execution in FY25 and FY26 before revising my rating. Read the full article on Seeking Alpha
Seeking Alpha • Aug 28

Virgin Galactic: Pipe Dream Business Still Lacks Meaningful, Sustainable Model

Summary Virgin Galactic has a sensible balance sheet but is plagued by massive losses and minimal revenue, making it a risky investment. The company's strategy to lower operating costs and expand capacity is challenged by an uncertain market for commercial spaceflight. Economic sensitivity and safety concerns further jeopardize Virgin Galactic's potential, with discretionary spending likely to decline in economic downturns. Despite the futuristic appeal, the company's history and financial projections indicate it's not a viable investment; I recommend a strong sell. Read the full article on Seeking Alpha
Seeking Alpha • Jun 19

Virgin Galactic: Final Descent

Summary Virgin Galactic faces a bleak future due to its dwindling cash reserves, limited market capitalization, and uncertain path to profitability. While the introduction of Delta Class ships could help the company ramp commercial operations, this is at least 2 years away and will require significant investments. Virgin Galactic's market capitalization makes raising capital difficult, meaning that any issues or delays are likely to prove fatal. Read the full article on Seeking Alpha
Analysis Article • Jun 06

Shareholders May Be More Conservative With Virgin Galactic Holdings, Inc.'s (NYSE:SPCE) CEO Compensation For Now

Key Insights Virgin Galactic Holdings will host its Annual General Meeting on 12th of June Salary of US$1.00m is part...
Seeking Alpha • May 14

Virgin Galactic: The Guidance Looks Better Than I Expected

Summary Virgin Galactic's Q1 2024 results show improvements in revenue and cash burn rates, but the primary goal of generating significant revenue is still a few years away. SPCE's guidance suggests higher ticket prices, but the target of becoming cash flow positive in 2026 may still be optimistic. The development of the next-gen mothership is delayed, and the current generation will need to increase flight frequency to meet ambitious goals. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Michael Colglazier's remuneration changed compared to Virgin Galactic Holdings's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

-US$259m

Dec 31 2025US$11mUS$1m

-US$279m

Sep 30 2025n/an/a

-US$293m

Jun 30 2025n/an/a

-US$303m

Mar 31 2025n/an/a

-US$329m

Dec 31 2024US$6mUS$1m

-US$347m

Sep 30 2024n/an/a

-US$374m

Jun 30 2024n/an/a

-US$404m

Mar 31 2024n/an/a

-US$445m

Dec 31 2023US$8mUS$1m

-US$502m

Sep 30 2023n/an/a

-US$549m

Jun 30 2023n/an/a

-US$590m

Mar 31 2023n/an/a

-US$566m

Dec 31 2022US$11mUS$1m

-US$500m

Sep 30 2022n/an/a

-US$430m

Jun 30 2022n/an/a

-US$333m

Mar 31 2022n/an/a

-US$316m

Dec 31 2021US$7mUS$1m

-US$353m

Sep 30 2021n/an/a

-US$376m

Jun 30 2021n/an/a

-US$420m

Mar 31 2021n/an/a

-US$398m

Dec 31 2020US$22mUS$442k

-US$645m

Compensation vs Market: Michael's total compensation ($USD10.75M) is above average for companies of similar size in the US market ($USD1.63M).

Compensation vs Earnings: Michael's compensation has increased whilst the company is unprofitable.

CEO

Michael Colglazier (59 yo)

6yrs
Tenure
US$10,745,916
Compensation

Mr. Michael A. Colglazier is Independent Director of Six Flags Entertainment Corporation from June 2025. He is the Chief Executive Officer and Director at Virgin Galactic Holdings, Inc. since July 20, 2020...

Leadership Team

NamePositionTenureCompensationOwnership
Michael Colglazier
CEO, President & Director6yrsUS$10.75m0.15%
$ 439.5k
Douglas Ahrens
Executive VP5.3yrsUS$3.97m0.079%
$ 229.4k
Sarah Kim
Executive VP3.6yrsUS$1.74m0.030%
$ 88.2k
Aparna Chitale
Chief People Officer4.8yrsUS$2.06m0.033%
$ 96.1k
Richard Charles Branson
Founder22.5yrsno datano data
Eric Cerny
Vice President of Investor Relationsno datano datano data
Aleanna Crane
Vice President of Communicationsno datano datano data
Michael Moses
President of Spaceline Missions & Safety5.8yrsUS$3.95mno data
Natalie Moses
Chief Astronaut Instructorno datano datano data
CJ Sturckow
Chief Pilot1.6yrsno datano data
Megan Prichard
Chief Growth Officerless than a yearno datano data
5.1yrs
Average Tenure
58yo
Average Age

Experienced Management: SPCE's management team is seasoned and experienced (5.1 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Michael Colglazier
CEO, President & Director6yrsUS$10.75m0.15%
$ 439.5k
Henio Arcangeli
Independent Director2.9yrsUS$267.50k0.044%
$ 128.4k
David Whelan
Member of Space Advisory Board5.4yrsno datano data
Raymond Mabus
Chair & Lead Independent Director3.3yrsUS$330.00k0.053%
$ 154.2k
Wayne West
Independent Director5.4yrsUS$272.50k0.045%
$ 130.9k
Craig Kreeger
Independent Director6.8yrsUS$272.50k0.046%
$ 134.8k
Diana Strandberg
Independent Director3.3yrsUS$275.00k0.064%
$ 185.1k
George Whitesides
Chairman of Space Advisory Board5.4yrsUS$14.68mno data
Tina Jonas
Independent Director5.1yrsUS$282.50k0.045%
$ 131.0k
Sandra Magnus
Member of Space Advisory Board5.4yrsno datano data
Chris Hadfield
Member of Space Advisory Board5.4yrsno datano data
Wanda Sigur
Independent Director4.6yrsUS$265.00k0.045%
$ 131.2k
5.4yrs
Average Tenure
65.5yo
Average Age

Experienced Board: SPCE's board of directors are considered experienced (5.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/15 04:12
End of Day Share Price 2026/07/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Virgin Galactic Holdings, Inc. is covered by 13 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ronald EpsteinBofA Global Research
Kenneth HerbertCanaccord Genuity
Noah PoponakGoldman Sachs