(Galactic) Shares of Virgin Galactic fell more than 5% in premarket on Friday after saying it expects to launch its commercial space flight in the first quarter of 2023.
The company attributed the delayed commercial spaceflight to supply chain and labor issues. The Richard Branson company said that demand for tickets still remains strong, with about 800 future astronaut bookings.
The company said that its VSS Unity test spaceflight will be in the fourth quarter of 2022.
The announced dates of the spaceflight coincided with the first quarter 2022 results, where Galactic netted a loss of $93 million, widening from a loss of $130 million in the prior year.
The company’s adjusted EBITDA was a loss of $77 million, wider than a loss of $56 million in the comparable quarter of 2021.
SPCE: NYSE is down -5.87% on premarket
