Virgin Galactic has lost $1 billion during the last two years

Enlarge / Virgin Galactic’s new vehicle, VSS Imagine, is lighter than its predecessor, VSS Unity. (credit: Virgin Galactic)

Space tourism company Virgin Galactic released its financial results for the fourth quarter of 2021, and the full year, on Tuesday afternoon. As usual, for a company that has yet to begin commercial service of its space plane, the results were grim.

During the final quarter of 2021, Virgin Galactic reported revenue of $141,000 and a net loss of $80 million. The cumulative results were even more sobering. According to the publicly traded company’s consolidated statements, Virgin Galactic has now lost $1 billion during the last two years.

Company officials sought to put a positive spin on these financial results.