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Virgin Galactic Holdings, Inc cash flow statement

In fiscal 2025, Virgin Galactic Holdings, Inc's operations generated −$240m of cash; it spent $198m on capital projects, leaving free cash flow of −$438m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−137−146−209−233−231−380−448−353−240−212
Depreciation and amortisation56710121113151616
Stock-based pay00330624644301920
Capital spending611141751644122198174
Free cash flow−142−156−223−250−235−397−493−475−438−386
Free cash flow after stock pay−142−156−226−281−297−442−537−504−457−407
Shares issued0020460500103484138——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Virgin Galactic Holdings, Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Virgin Galactic Holdings, Inc.