Virgin Galactic GAAP EPS of -$0.55 misses by $0.15

• Virgin Galactic press release (NYSE:SPCE): Q3 GAAP EPS of -$0.55 misses by $0.15.
• Revenue of $0.77M (-70.2% Y/Y).
• Adjusted EBITDA totaled $(129) million, compared to $(68) million in the third quarter of 2021.
• Net cash used in operating activities totaled $(101) million, compared to $(52) million in the third quarter of 2021.
• Free cash flow totaled $(107) million, compared to $(53) million in the third quarter of 2021.
• Cash position remains strong, with cash and cash equivalents and marketable securities of $1.1 billion as of September 30, 2022.
• Outlook: Forecasted free cash flow for the fourth quarter of 2022 is expected to be in the range of $(120) million to $(130) million.
• Shares -2.4%.