SPCE Stock Price Chart
Daily OHLCV with technical indicators — pan, zoom, and customize your view
04
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Stock splits1
Ex-date
Split
Type
June 17, 2024
1-for-20
Reverse
10-Year Performance
Revenue, net income, margins and EPS trends
06
Revenue$2M2019-12-31 → 2025-12-31
EPS$-5.442019-12-31 → 2025-12-31
Free Cash Flow$-438M2019-12-31 → 2025-12-31
Net margin-23867.4%2019-12-31 → 2025-12-31
Valuation & Ratios07–12
Valuation
P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
SPCE
5Y avg
Peer Median
Verdict
P/E (TTM)
-1.05Y avg ≈-45.3
≈-45.3
·
·
P/S (TTM)
412.45Y avg ≈6467.6
≈6467.6
2.2
Overvalued
P/B (MRQ)
1.15Y avg ≈31.5
≈31.5
3.1
Undervalued
EV / EBITDA (TTM)
-1.6
·
·
·
Price / FCF (TTM)
-1.15Y avg ≈-76.5
≈-76.5
·
·
Price / Cash Flow (TTM)
-2.05Y avg ≈-79.0
≈-79.0
·
·
EV / Revenue (TTM)
377.7
·
·
·
EV / FCF (TTM)
-1.0
·
·
·
Price / Tangible Book
0.95Y avg ≈31.5
≈31.5
·
·
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability
Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
SPCE
5Y avg
Peer Median
Verdict
Operating Margin (TTM)
-24804.5%5Y avg ≈-12596.4%
≈-12596.4%
-1.4%
Weak
EBITDA Margin (TTM)
-23264.1%5Y avg ≈-12133.6%
≈-12133.6%
1.7%
Weak
Pretax Margin (TTM)
-23857.7%5Y avg ≈-12538.6%
≈-12538.6%
4.8%
Weak
Net Profit Margin (TTM)
-23867.4%5Y avg ≈-12546.4%
≈-12546.4%
0.45%
Weak
ROA (TTM)
-28.9%5Y avg ≈-38.1%
≈-38.1%
3.8%
Weak
ROE (TTM)
-75.1%5Y avg ≈-85.0%
≈-85.0%
5.3%
Weak
ROIC
-47.7%5Y avg ≈-82.0%
≈-82.0%
3.9%
Weak
Financial Health
Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
SPCE
5Y avg
Peer Median
Verdict
Debt / Equity (MRQ)
0.6
·
0.5
Above avg
Current Ratio (MRQ)
1.65Y avg ≈4.3
≈4.3
3.1
Low liquidity
Quick Ratio
1.55Y avg ≈3.9
≈3.9
1.1
Strong liquidity
Long-Term Debt / Equity (MRQ)
0.5
·
0.5
In line
Growth
Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
SPCE
5Y avg
Peer Median
Verdict
Revenue YoY
-78.1%5Y avg ≈274.6%
≈274.6%
·
·
Revenue CAGR 3Y
-12.6%5Y avg ≈74.0%
≈74.0%
·
·
Revenue CAGR 5Y
45.4%
·
·
·
Per Share Metrics
EPS, book value per share, cash flow per share, dividend per share
Metric
5Y trend
SPCE
5Y avg
Peer Median
Verdict
EPS (Diluted)
$-5.445Y avg ≈$-10.49
≈$-10.49
·
·
Revenue / Share
$0.035Y avg ≈$0.07
≈$0.07
·
·
Cash Flow / Share
$-4.695Y avg ≈$-4.50
≈$-4.50
·
·
Cash / Share
$1.975Y avg ≈$2.21
≈$2.21
·
·
Capital Efficiency
Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
SPCE
5Y avg
Peer Median
Verdict
Asset Turnover
0.05Y avg ≈0.0
≈0.0
0.5
Weak
Revenue / Employee
≈$2.2K
·
·
·
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise17.8%
Next ReportNov 11, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Aug 12, 2026
$-0.58
$-0.66
11.5%
March 31, 2026
May 14, 2026
$-0.81
$-0.88
8.0%
Dec. 31, 2025
$-0.98
$-1.06
7.2%
Sept. 30, 2025
$-1.09
$-1.47
25.7%
June 30, 2025
$-1.41
$-2.39
41.0%
March 31, 2025
$-2.38
$-2.74
13.1%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement18
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue
$2M
$7M
$7M
$2M
$3M
$238.0K
$4M
$3M
$2M
Cost of Revenue
$73M
$90M
$51M
$2M
$272.0K
$173.0K
$2M
$1M
$488.0K
Gross Profit
·
·
·
·
$3M
$65.0K
$2M
$2M
$1M
R&D Expense
$80M
$153M
$295M
$314M
$144M
$154M
$133M
$118M
$93M
SG&A Expense
$117M
$125M
$175M
$175M
$167M
$111M
$82M
$51M
$47M
Operating Expenses
$287M
$384M
$538M
$502M
$323M
$276M
·
$1M
·
Operating Income
$-285M
$-377M
$-532M
$-500M
$-320M
$-275M
$-213M
$-167M
$-139M
Interest Expense
·
·
$13M
$12M
$25.0K
$36.0K
$36.0K
$10.0K
$21.0K
Interest Income
$22M
$42M
$42M
$13M
$1M
$2M
$2M
$633.0K
$241.0K
Other Non-op
$226.0K
$538.0K
$263.0K
$58.0K
$182.0K
$14.0K
$128.0K
$29M
·
Pretax Income
$-279M
$-347M
$-502M
$-500M
$-353M
$-645M
$-215M
$-138M
$-138M
Income Tax
$52.0K
$74.0K
$453.0K
$598.0K
$79.0K
$6.0K
$62.0K
$147.0K
$155.0K
Net Income
$-279M
$-347M
$-502M
$-500M
$-353M
$-645M
$-215M
$-138M
$-138M
EPS (Basic)
$-5.44
$-13.89
$-29.79
$-1.89
$-1.43
$-2.94
$-1.11
·
·
EPS (Diluted)
$-5.44
$-13.89
$-29.79
$-1.89
$-1.43
$-2.94
$-1.11
·
·
Shares (Basic)
51,242,000
24,955,000
16,863,000
263,947,000
247,619,000
219,108,000
194,378,154
·
·
Shares (Diluted)
51,242,000
24,955,000
16,863,000
263,947,000
247,619,000
219,108,000
194,378,154
·
·
EBITDA
$-269M
$-361M
$-518M
$-489M
$-308M
$-266M
$-206M
$-1M
·
Balance Sheet28
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Cash & Equivalents
$145M
$179M
$217M
$302M
$524M
$666M
$480M
$74M
$75M
Short-term Investments
$162M
$385M
$657M
$607M
$79M
$0
·
$704M
$692M
Receivables
·
·
·
·
·
$470.0K
$461.0K
$1M
·
Inventory
·
·
$16M
$24M
$30M
$30M
$32M
$23M
·
Prepaid Expense
·
·
$24M
$28M
$19M
$18M
$17M
$4M
$272.2K
Other Current Assets
$35M
$32M
$40M
·
·
$70.0K
$0
·
·
Current Assets
$373M
$628M
$951M
$1.00B
$679M
$728M
$542M
$119M
$2M
PP&E (Net)
$389M
$209M
$94M
$54M
$47M
$53M
$44M
$34M
·
PP&E (Gross)
$493M
$299M
$169M
$117M
$102M
$96M
$78M
$62M
·
Accum. Depreciation
$105M
$90M
$76M
$63M
$54M
$43M
$34M
$28M
·
Other Non-current Assets
$42M
$63M
$63M
$54M
$41M
$23M
$3M
$3M
·
Total Assets
$803M
$961M
$1.18B
$1.14B
$1.07B
$804M
$606M
$156M
$694M
Accounts Payable
$15M
$4M
$32M
$16M
$9M
$6M
$7M
$7M
$230.2K
Accrued Liabilities
$68M
$62M
$55M
$62M
$29M
$23M
$22M
$18M
·
Short-term Debt
·
·
·
·
·
$310.0K
$0
·
·
Current Liabilities
$209M
$150M
$186M
$184M
$132M
$115M
$116M
$106M
$356.5K
Capital Leases
·
·
·
·
$40M
$24M
$22M
·
·
Other Non-current Liabilities
$44M
$69M
$70M
$60M
$43M
$26M
$0
·
·
Total Liabilities
$529M
$639M
$674M
$660M
$175M
$277M
$262M
$114M
$25M
Long-term Debt
$324M
$420M
·
·
$310.0K
$620.0K
$0
·
·
Total Debt
$324M
·
·
·
$310.0K
$930.0K
·
·
·
Common Stock
$7.0K
$3.0K
$2.0K
$28.0K
$26.0K
$23.0K
$20.0K
$0
·
Paid-in Capital
$3.03B
$2.79B
$2.63B
$2.11B
$2.02B
$1.30B
$469M
$0
$4M
Retained Earnings
$-2.75B
$-2.47B
$-2.13B
$-1.62B
$-1.12B
$-771M
$-126M
$0
$1M
AOCI
$132.0K
$278.0K
$371.0K
$-7M
$-2M
$5.0K
$59.0K
$82.0K
·
Stockholders' Equity
$274M
$322M
$505M
$480M
$894M
$527M
$343M
$42M
$23M
Liabilities + Equity
$803M
$961M
$1.18B
$1.14B
$1.07B
$804M
$606M
$156M
$694M
Shares Outstanding
73,326,504
32,995,822
19,995,449
13,769,861
258,166,417
236,123,659
196,001,038
0
·
Cash Flow17
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
D&A
$16M
$15M
$13M
$11M
$12M
$10M
$7M
$6M
$5M
Stock-based Comp
$19M
$30M
$44M
$46M
$62M
$30M
$3M
$0
$0
Deferred Tax
$-60.0K
$-68.0K
$89.0K
$93.0K
$-17.0K
$120.0K
$-15.0K
$3.0K
$18.0K
Restructuring
·
$0
$4M
$0
$0
·
·
·
·
Other Non-cash
$4M
$-51M
$-4M
$63M
$49M
$372M
$-2M
·
·
Operating Cash Flow
$-240M
$-353M
$-448M
$-380M
$-231M
$-233M
$-209M
$-146M
$-137M
CapEx
$198M
$122M
$44M
$16M
$5M
$17M
$14M
$11M
$6M
Investing Cash Flow
$91M
$176M
$-116M
$-286M
$-388M
$-17M
$-14M
$-11M
$-6M
Debt Issued
$212M
$0
·
·
·
·
·
·
·
Net Debt Issued
$212M
·
·
·
·
·
·
·
·
Stock Issued
·
$138M
$484M
$103M
$500M
$460M
$20M
$0
$0
Net Stock Activity
·
$138M
$484M
$103M
$500M
$460M
$20M
$0
·
Financing Cash Flow
$114M
$134M
$475M
$459M
$489M
$437M
$634M
$157M
$138M
Net Change in Cash
$-35M
$-43M
$-89M
$-207M
$-129M
$186M
$411M
$302.0K
$-4M
Taxes Paid
·
$329.0K
$658.0K
$80.0K
$109.0K
$102.0K
$226.0K
$176.0K
$350.0K
Free Cash Flow
$-438M
$-475M
$-493M
$-397M
$-235M
$-250M
$-223M
·
·
Levered FCF
·
·
$-505M
$-409M
·
$-250M
$-223M
·
·
Profitability8
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Gross Margin
·
·
·
·
91.7%
27.3%
47.0%
·
·
Operating Margin
-18480.8%
-5352.9%
-7816.3%
-21625.6%
-9706.4%
-115665.6%
-5640.4%
·
·
Net Margin
-18063.9%
-4928.1%
-7387.3%
-21632.9%
-10719.9%
-270960.9%
-5578.8%
·
·
Pretax Margin
-18060.6%
-4927.0%
-7380.6%
-21607.0%
-10717.5%
-270958.4%
-5577.2%
·
·
EBITDA Margin
-17413.1%
-5133.1%
-7619.7%
-21145.6%
-9356.5%
-111555.9%
-5455.2%
·
·
ROA
-31.6%
-32.4%
-43.3%
-45.3%
-37.7%
-77.2%
-55.4%
1.6%
·
ROE
-103.8%
-100.8%
-90.9%
-91.5%
-37.9%
-112.3%
-81.6%
219.3%
·
ROIC
-47.7%
-116.9%
-105.2%
-104.2%
-35.7%
-52.1%
-45.6%
·
·
Liquidity & Solvency5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Current Ratio
1.8
4.2
5.1
5.4
5.2
6.3
4.6
0.9
4.6
Quick Ratio
1.5
3.8
4.7
4.9
4.6
5.8
4.2
1210.4
1942.7
Debt / Equity
1.2
·
·
·
0.0
0.0
·
·
·
LT Debt / Equity
1.0
·
·
·
0.0
0.0
·
·
·
Interest Coverage
·
·
-41.3
-41.2
·
-7646.8
-5923.9
·
·
Efficiency3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Asset Turnover
0.0
0.0
0.0
0.0
0.0
0.0
0.0
·
·
Inventory Turnover
·
·
2.5
0.1
0.0
0.0
0.1
·
·
Receivables Turnover
·
·
·
·
·
0.5
4.3
·
·
Per Share5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Book Value / Share
$3.74
$9.77
$1.26
$1.74
$3.46
$2.23
$2.39
·
·
Revenue / Share
$0.03
$0.28
$0.02
$0.01
$0.01
·
·
·
·
Cash Flow / Share
$-4.69
$-14.13
$-1.33
$-1.44
$-0.93
·
·
·
·
Cash / Share
$1.97
$5.41
$0.54
$1.10
$2.03
$2.82
$2.45
·
·
EPS (TTM)
$-5.44
$-13.89
$-29.79
$-1.89
$-1.43
$-2.94
$-1.11
$-0.72
·
Growth Rates3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue YoY
-78.1%
3.5%
194.1%
-29.8%
1283.2%
·
·
·
·
Revenue CAGR 3Y
-12.6%
28.8%
205.7%
·
·
·
·
·
·
Revenue CAGR 5Y
45.4%
·
·
·
·
·
·
·
·
Valuation (TTM)14
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue TTM
$2M
$7M
$7M
$2M
$3M
$238.0K
$4M
$3M
$2M
Net Income TTM
$-279M
$-347M
$-502M
$-500M
$-353M
$-645M
$-215M
$-138M
$-138M
Market Cap
$235M
$194M
$19.60B
$19.17B
$69.09B
$112.06B
$45.28B
·
·
Enterprise Value
$253M
·
·
·
$68.48B
$111.40B
·
·
·
P/E
-0.6
-0.4
-1.6
-36.8
-187.1
-161.4
-208.1
-277.8
·
P/S
152.4
27.6
2881.7
8290.5
20985.8
470858.4
11974.7
·
·
P/B
0.9
0.6
38.8
39.9
77.3
212.6
96.8
·
·
P / Tangible Book
0.9
0.6
38.8
39.9
77.3
212.6
·
·
·
P / Cash Flow
-1.0
-0.6
-43.7
-50.4
-299.4
-480.6
-222.4
·
·
P / FCF
-0.5
-0.4
-39.8
-48.3
-293.5
-447.6
-203.1
·
·
EV / EBITDA
-0.9
·
·
·
-222.3
-419.6
·
·
·
EV / FCF
-0.6
·
·
·
-290.9
-445.0
·
·
·
EV / Revenue
163.6
·
·
·
20802.5
468064.3
·
·
·
Earnings Yield
-169.5%
-236.2%
-60.8%
-2.7%
-0.53%
-0.62%
-0.48%
-0.36%
·
Income Statement17
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Revenue
$134.0K
$227.0K
$312.0K
$365.0K
$406.0K
$461.0K
$429.0K
$402.0K
$4M
$2M
$3M
$2M
$2M
$392.0K
$869.0K
$767.0K
Cost of Revenue
$28M
$30M
$18M
$19M
$14M
$21M
$20M
$20M
$27M
$23M
$24M
$26M
$234.0K
$318.0K
$1M
$590.0K
R&D Expense
$4M
$7M
$12M
$15M
$20M
$33M
$28M
$24M
$42M
$59M
$54M
$45M
$87M
$110M
$103M
$97M
SG&A Expense
$29M
$26M
$27M
$28M
$32M
$31M
$30M
$34M
$34M
$28M
$31M
$42M
$51M
$50M
$47M
$46M
Operating Expenses
$65M
$66M
$61M
$67M
$70M
$89M
$82M
$82M
$106M
$113M
$117M
$116M
$141M
$164M
$154M
$146M
Operating Income
$-65M
$-66M
$-61M
$-66M
$-70M
$-88M
$-82M
$-82M
$-102M
$-111M
$-114M
$-114M
$-140M
$-163M
$-153M
$-146M
Interest Expense
·
·
·
·
·
·
·
·
·
$3M
·
$3M
$3M
$3M
$3M
$3M
Interest Income
$2M
$3M
$4M
$5M
$6M
$7M
$9M
$10M
$11M
$12M
$14M
$13M
$8M
$7M
$6M
$4M
Other Non-op
$26.0K
$34.0K
$119.0K
$33.0K
$40.0K
$34.0K
$59.0K
$163.0K
$171.0K
$145.0K
$99.0K
$86.0K
$48.0K
$30.0K
$51.0K
$-203.0K
Pretax Income
$-56M
$-65M
$-63M
$-64M
$-67M
$-84M
$-77M
$-74M
$-94M
$-102M
$-104M
$-105M
$-134M
$-159M
$-150M
$-146M
Income Tax
$30.0K
$30.0K
$41.0K
$0
$-37.0K
$48.0K
$-145.0K
$105.0K
$34.0K
$80.0K
$238.0K
$53.0K
$34.0K
$128.0K
$529.0K
$21.0K
Net Income
$-56M
$-65M
$-63M
$-64M
$-67M
$-84M
$-76M
$-75M
$-94M
$-102M
$-104M
$-105M
$-134M
$-159M
$-151M
$-146M
EPS (Basic)
$-0.50
$-0.81
$-0.50
$-1.09
$-1.47
$-2.38
$-1.77
$-2.66
$-4.36
$-5.10
$-14.49
$-5.57
$-9.16
$-0.57
$-0.55
$-0.55
EPS (Diluted)
$-0.50
$-0.81
$-0.50
$-1.09
$-1.47
$-2.38
$-1.77
$-2.66
$-4.36
$-5.10
$-14.49
$-5.57
$-9.16
$-0.57
$-0.55
$-0.55
Shares (Basic)
110,757,000
79,482,000
·
59,252,000
45,641,000
35,440,000
·
27,973,000
21,484,000
20,019,000
·
18,792,000
14,661,000
278,450,000
·
263,907,000
Shares (Diluted)
110,757,000
79,482,000
·
59,252,000
45,641,000
35,440,000
·
27,973,000
21,484,000
20,019,000
·
18,792,000
14,661,000
278,450,000
·
263,907,000
EBITDA
$-61M
$-62M
·
$-62M
$-66M
$-84M
·
$-77M
$-99M
$-107M
·
$-111M
$-136M
$-160M
·
$-143M
Balance Sheet25
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Cash & Equivalents
$187M
$125M
$145M
$129M
$164M
$141M
$179M
$172M
$182M
$195M
$217M
$231M
$358M
$416M
$302M
$394M
Short-term Investments
$68M
$95M
$162M
$265M
$306M
$349M
$385M
$479M
$593M
$570M
$657M
$766M
$582M
$418M
$607M
$607M
Inventory
·
·
·
·
·
·
·
·
$14M
$17M
·
$17M
$18M
$22M
$24M
$23M
Prepaid Expense
·
·
·
·
·
·
·
·
·
·
·
$24M
$27M
$24M
$28M
$22M
Other Current Assets
$26M
$33M
$35M
$35M
$33M
$27M
$32M
$30M
$36M
$37M
$40M
·
·
·
·
·
Current Assets
$313M
$283M
$373M
$459M
$533M
$548M
$628M
$713M
$844M
$837M
$951M
$1.08B
$1.02B
$920M
$1.00B
$1.09B
PP&E (Net)
$466M
$427M
$389M
$350M
$306M
$249M
$209M
$181M
$144M
$111M
$94M
$74M
$70M
$60M
$54M
$49M
PP&E (Gross)
$578M
$535M
$493M
$453M
$405M
$344M
$299M
$268M
$226M
$190M
$169M
$146M
$139M
$127M
$117M
$109M
Accum. Depreciation
$112M
$108M
$105M
$103M
$99M
$95M
$90M
$86M
$82M
$79M
$76M
$72M
$69M
$66M
$63M
$60M
Other Non-current Assets
$38M
$40M
$42M
$44M
$52M
$62M
$63M
$61M
$62M
$63M
$63M
$65M
$52M
$53M
$54M
$55M
Total Assets
$816M
$750M
$803M
$854M
$899M
$904M
$961M
$1.02B
$1.06B
$1.08B
$1.18B
$1.27B
$1.15B
$1.03B
$1.14B
$1.26B
Accounts Payable
$21M
$17M
$15M
$9M
$10M
$3M
$4M
$8M
$38M
$33M
$32M
$28M
$25M
$26M
$16M
$20M
Accrued Liabilities
$62M
$71M
$68M
$70M
$66M
$59M
$62M
$64M
$54M
$47M
$55M
$50M
$59M
$59M
$62M
$43M
Current Liabilities
$193M
$283M
$209M
$160M
$157M
$144M
$150M
$158M
$179M
$172M
$186M
$180M
$188M
$191M
$184M
$171M
Other Non-current Liabilities
$39M
$41M
$44M
$46M
$57M
$67M
$69M
$73M
$69M
$70M
$70M
$71M
$57M
$60M
$60M
$60M
Total Liabilities
$420M
$526M
$529M
$628M
$635M
$632M
$639M
$650M
$668M
$661M
$674M
$669M
$662M
$667M
$660M
$646M
Long-term Debt
$219M
$320M
$324M
·
·
·
$420M
·
·
·
·
·
·
·
·
$0
Total Debt
$219M
$320M
·
·
·
·
·
·
·
·
·
·
·
·
·
$0
Common Stock
$14.0K
$8.0K
$7.0K
$6.0K
$6.0K
$4.0K
$3.0K
$3.0K
$2.0K
$41.0K
$2.0K
$40.0K
$34.0K
$28.0K
$28.0K
$27.0K
Paid-in Capital
$3.27B
$3.04B
$3.03B
$2.91B
$2.89B
$2.83B
$2.79B
$2.76B
$2.72B
$2.65B
$2.63B
$2.62B
$2.40B
$2.15B
$2.11B
$2.10B
Retained Earnings
$-2.87B
$-2.82B
$-2.75B
$-2.69B
$-2.62B
$-2.56B
$-2.47B
$-2.40B
$-2.32B
$-2.23B
$-2.13B
$-2.02B
$-1.92B
$-1.78B
$-1.62B
$-1.47B
AOCI
$56.0K
$44.0K
$132.0K
$219.0K
$-14.0K
$98.0K
$278.0K
$1M
$-583.0K
$-501.0K
$371.0K
$-1M
$-2M
$-4M
$-7M
$-10M
Stockholders' Equity
$396M
$224M
$274M
$226M
$263M
$272M
$322M
$366M
$395M
$418M
$505M
$599M
$485M
$367M
$480M
$614M
Liabilities + Equity
$816M
$750M
$803M
$854M
$899M
$904M
$961M
$1.02B
$1.06B
$1.08B
$1.18B
$1.27B
$1.15B
$1.03B
$1.14B
$1.26B
Shares Outstanding
141,277,897
81,409,340
73,326,504
63,171,432
55,786,653
39,991,026
32,995,822
28,864,637
23,984,220
405,272,587
19,995,449
399,581,904
336,760,534
281,664,887
275,397,229
274,481,195
Cash Flow14
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
D&A
$4M
$4M
$4M
$4M
$4M
$4M
$4M
$4M
$3M
$4M
$4M
$3M
$3M
$3M
$3M
$2M
Stock-based Comp
$7M
$4M
$4M
$5M
$5M
$5M
$6M
$8M
$8M
$8M
$9M
$11M
$12M
$13M
$11M
$12M
Other Non-cash
·
$3M
·
·
·
$-423.0K
·
·
·
$-23M
·
·
·
$7M
·
·
Operating Cash Flow
$-50M
$-54M
$-52M
$-56M
$-55M
$-76M
$-81M
$-79M
$-79M
$-113M
$-95M
$-91M
$-125M
$-136M
$-131M
$-96M
CapEx
$41M
$40M
$42M
$51M
$58M
$46M
$36M
$39M
$34M
$13M
$18M
$13M
$10M
$3M
$4M
$6M
Investing Cash Flow
$-13M
$28M
$61M
$-767.0K
$23M
$7M
$59M
$33M
$579.0K
$83M
$80M
$-245M
$-171M
$220M
$36M
$63M
Net Debt Issued
·
$-5M
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Stock Issued
·
·
·
$23M
$56M
$31M
·
$37M
$64M
$7M
$0
$211M
$241M
$32M
$4M
$100M
Net Stock Activity
·
·
·
·
·
$31M
·
·
·
$7M
·
·
·
$32M
·
·
Financing Cash Flow
$126M
$5M
$8M
$22M
$54M
$30M
$28M
$36M
$63M
$7M
$-432.0K
$208M
$238M
$30M
$3M
$97M
Net Change in Cash
$63M
$-20M
$17M
$-35M
$22M
$-39M
$6M
$-10M
$-16M
$-23M
$-15M
$-129M
$-58M
$113M
$-92M
$64M
Taxes Paid
$30.0K
$79.0K
·
$0
$0
$0
·
$84.0K
$72.0K
$94.0K
$125.0K
$0
$405.0K
$128.0K
$46.0K
$-9.0K
Free Cash Flow
·
$-93M
·
·
·
$-122M
·
·
·
$-126M
·
·
·
$-139M
·
·
Levered FCF
·
·
·
·
·
·
·
·
·
$-130M
·
·
·
$-142M
·
·
Profitability7
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Operating Margin
-48452.2%
-28895.2%
·
-18127.7%
-17227.1%
-19186.1%
·
-20330.4%
-2412.1%
-5599.9%
·
-6613.0%
-7459.4%
-41685.2%
·
-18978.0%
Net Margin
-41708.2%
-28508.8%
·
-17648.5%
-16571.4%
-18326.9%
·
-18542.3%
-2222.2%
-5139.1%
·
-6053.5%
-7181.4%
-40659.4%
·
-18977.0%
Pretax Margin
-41685.8%
-28495.6%
·
-17648.5%
-16580.5%
-18316.5%
·
-18516.2%
-2221.3%
-5135.1%
·
-6050.4%
-7179.6%
-40626.8%
·
-18974.3%
EBITDA Margin
-45479.8%
-27170.0%
·
-16999.7%
-16199.8%
-18270.1%
·
-19250.5%
-2334.9%
-5413.6%
·
-6422.8%
-7288.8%
-40857.4%
·
-18689.3%
ROA
-6.5%
-7.8%
·
-6.9%
-6.9%
-8.5%
·
-6.5%
-8.5%
-9.7%
·
-8.3%
-11.1%
-13.4%
·
-12.2%
ROE
-17.0%
-26.1%
·
-21.8%
-20.4%
-24.5%
·
-15.4%
-21.3%
-26.0%
·
-17.2%
-23.7%
-28.5%
·
-18.4%
ROIC
-10.6%
-12.1%
·
-29.3%
-26.5%
-32.5%
·
-22.4%
-25.8%
-26.6%
·
-19.1%
-28.8%
-44.6%
·
-23.7%
Liquidity & Solvency5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Current Ratio
1.6
1.0
·
2.9
3.4
3.8
·
4.5
4.7
4.9
·
6.0
5.5
4.8
·
6.4
Quick Ratio
1.3
0.8
·
2.5
3.0
3.4
·
4.1
4.3
4.5
·
5.5
5.0
4.4
·
5.9
Debt / Equity
0.6
1.4
·
·
·
·
·
·
·
·
·
·
·
·
·
0.0
LT Debt / Equity
0.5
0.9
·
·
·
·
·
·
·
·
·
·
·
·
·
0.0
Interest Coverage
·
·
·
·
·
·
·
·
·
-34.4
·
-35.5
-43.4
-50.9
·
-44.2
Efficiency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Asset Turnover
0.0
0.0
·
0.0
0.0
0.0
·
0.0
0.0
0.0
·
0.0
0.0
0.0
·
0.0
Inventory Turnover
·
·
·
·
·
·
·
·
1.7
1.2
·
1.3
0.0
0.0
·
0.0
Per Share5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Book Value / Share
$2.80
$2.75
·
$3.58
$4.72
$6.81
·
$12.68
$16.46
$1.03
·
$1.50
$1.44
$1.30
·
$2.24
Revenue / Share
$0.00
$0.00
·
$0.01
$0.01
$0.01
·
$0.01
$0.20
$0.01
·
$0.00
$0.01
$0.00
·
$0.00
Cash Flow / Share
·
$-0.67
·
·
·
$-2.14
·
·
·
$-0.28
·
·
·
$-0.49
·
·
Cash / Share
$1.33
$1.53
·
$2.04
$2.93
$3.52
·
$5.97
$7.60
$0.48
·
$0.58
$1.06
$1.48
·
$1.44
EPS (TTM)
$-2.90
$-3.87
·
$-6.71
$-8.28
$-11.17
·
$-26.61
$-29.52
$-34.32
·
$-15.85
$-10.83
$-2.10
·
$-1.51
Valuation (TTM)11
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Revenue TTM
$1M
$1M
·
$2M
$2M
$6M
·
$9M
$11M
$8M
·
$5M
$4M
$2M
·
$2M
Net Income TTM
$-248M
$-259M
·
$-293M
$-303M
$-329M
·
$-374M
$-404M
$-445M
·
$-549M
$-590M
$-566M
·
$-430M
Market Cap
$408M
$198M
·
$244M
$152M
$121M
·
$176M
$202M
$12.00B
·
$14.38B
$26.13B
$22.81B
·
$25.86B
Enterprise Value
$372M
$298M
·
·
·
·
·
·
·
·
·
·
·
·
·
$24.86B
P/E
-1.0
-0.6
·
-0.6
-0.3
-0.3
·
-0.2
-0.3
-0.9
·
-2.3
-7.2
-38.6
·
-62.4
P/S
393.3
151.0
·
146.8
89.7
22.0
·
18.7
18.8
1429.3
·
2959.9
6702.4
9566.0
·
16323.3
P/B
1.0
0.9
·
1.1
0.6
0.4
·
0.5
0.5
28.7
·
24.0
53.9
62.2
·
42.1
P / Tangible Book
1.0
0.9
·
1.1
0.6
0.4
·
0.5
0.5
28.7
·
24.0
53.9
62.2
·
42.1
P / Cash Flow
·
-3.7
·
·
·
-1.6
·
·
·
-105.9
·
·
·
-167.7
·
·
EV / Revenue
358.6
227.2
·
·
·
·
·
·
·
·
·
·
·
·
·
15691.5
Earnings Yield
-100.4%
-159.3%
·
-173.8%
-303.3%
-368.7%
·
-436.2%
-350.2%
-116.0%
·
-44.0%
-14.0%
-2.6%
·
-1.6%
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Revenue
$2M
$7M
$7M
$2M
$3M
Gross Margin %
·
·
·
·
91.7%
Operating Margin %
-18480.8%
-5352.9%
-7816.3%
-21625.6%
-9706.4%
Net Income
$-279M
$-347M
$-502M
$-500M
$-353M
Diluted EPS
$-5.44
$-13.89
$-29.79
$-1.89
$-1.43
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Debt / Equity
1.2
·
·
·
0.0
Current Ratio
1.8
4.2
5.1
5.4
5.2
Quick Ratio
1.5
3.8
4.7
4.9
4.6
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Free Cash Flow
$-438M
$-475M
$-493M
$-397M
$-235M
Institutional owners (13F)
232 filers
· $237.3M total
· As of June 30, 2026
17
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders232
Value held$237.3M
New positions89
Exited positions37
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
89 (+52 vs prior Q)
37 (+13 vs prior Q)
62 (+28 vs prior Q)
23 (-21 vs prior Q)
+55.2M
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
Filer
Filed
Stake
Status
Purpose
Filing
Virgin Investments Limited, Corvina Holdings Limited, Virgin Group Holdings Limited, BFT (PTC) Limited, BFT CLG (PTC) Limited, Sir Richard Branson
×4 filings
Vieco USA, Inc., Vieco 10 Limited, Virgin Investments Limited, Virgin Group Investments LLC, Corvina Holdings Limited, Virgin Group Holdings Limited, Sir Richard Branson
Vieco USA, Inc. (2), Vieco 10 Limited (2), Virgin Investments Limited (2), Virgin Group Investments LLC (2), Corvina Holdings Limited (2), Virgin Group Holdings Limited (2), Sir Richard Branson (2)
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders
27 insiders
· 11 officers · 16 directors