Virgin Galactic Holdings (SPCE) Operating Expenses (2017 - 2026)
Virgin Galactic Holdings (SPCE) posted Operating Expenses of $61.1 million for Q4 2025, down 8.16% sequentially from $66.5 million in Q3 2025, and down 25.83% YoY from $82.4 million in Q4 2024.
Virgin Galactic Holdings (SPCE) Operating Expenses (2017 - 2026) Analysis & Trends
Virgin Galactic Holdings has reported Operating Expenses for 9 years, with the latest figure at $61.1 million in Q4 2025.
- Quarterly Operating Expenses fell 25.83% year-over-year to $61.1 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $286.9 million (down 25.22% YoY) and the FY2025 annual result came in at $286.9 million, down 25.22% from the prior year.
- Operating Expenses declined to $61.1 million in Q4 2025 per SPCE's latest filing, from $66.5 million in the prior quarter.
- Over five years, Operating Expenses peaked at $163.8 million in Q1 2023 and troughed at $61.1 million in Q4 2025.
- A 5-year average of $101.7 million and a median of $90.3 million in 2022 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses jumped 89.36% in 2022, then plunged 33.64% in 2025.
- Over 5 years, Operating Expenses stood at $81.4 million in 2021, then surged by 89.36% to $154.2 million in 2022, then dropped by 24.07% to $117.1 million in 2023, then slipped by 29.63% to $82.4 million in 2024, then fell by 25.83% to $61.1 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $61.1 million, $66.5 million, and $70.3 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | General Electric | 358.52 Bn | 349.17 Bn | 6.95 Bn | 10.86 Bn |
| 2 | Rtx | 287.21 Bn | 278.91 Bn | 9.91 Bn | 21.96 Bn |
| 3 | Boeing | 170.11 Bn | 150.08 Bn | 2.41 Bn | 2.35 Bn |
| 4 | Lockheed Martin | 131.49 Bn | 127.70 Bn | 2.45 Bn | - |
| 5 | Howmet Aerospace | 109.12 Bn | 108.56 Bn | 951.00 Mn | 156.00 Mn |
| 6 | General Dynamics | 104.21 Bn | 99.88 Bn | 6.76 Bn | 12.63 Bn |
| 7 | Northrop Grumman | 80.06 Bn | 77.76 Bn | 3.72 Bn | 9.78 Bn |
| 8 | TransDigm | 67.85 Bn | 65.08 Bn | 1.63 Bn | 332.00 Mn |
| 9 | L3Harris Technologies | 50.31 Bn | 48.79 Bn | 1.50 Bn | 848.00 Mn |
| 10 | Virgin Galactic Holdings | 341.13 Mn | 341.13 Mn | -28.05 Mn | 65.06 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 65.06 Mn |
| Dec 31, 2025 | 61.10 Mn |
| Sep 30, 2025 | 66.53 Mn |
| Jun 30, 2025 | 70.35 Mn |
| Mar 31, 2025 | 88.91 Mn |
| Dec 31, 2024 | 82.38 Mn |
| Sep 30, 2024 | 82.13 Mn |
| Jun 30, 2024 | 106.01 Mn |
| Mar 31, 2024 | 113.14 Mn |
| Dec 31, 2023 | 117.07 Mn |
| Sep 30, 2023 | 116.00 Mn |
| Jun 30, 2023 | 141.44 Mn |
| Mar 31, 2023 | 163.80 Mn |
| Dec 31, 2022 | 154.18 Mn |
| Sep 30, 2022 | 146.33 Mn |
| Jun 30, 2022 | 110.08 Mn |
| Mar 31, 2022 | 91.71 Mn |
| Dec 31, 2021 | 81.42 Mn |
| Sep 30, 2021 | 85.66 Mn |
| Jun 30, 2021 | 74.47 Mn |