Positive context积极背景
Stocks股票 / Industrials / SPCE
Virgin Galactic Holdings Inc · Industrials
SPCE US listed · USD美股 · 美元
Industrials
Russell 2000罗素2000
Speculative / unprofitable投机／未盈利
$2.99
+$0.00 · +0.00%
52w low52周低 $2.06high高 $7.90
Neutral — no clear edge中性 — 无明显优势
The bottoming setup is not yet confirmed (price still below the 10-day average) and the 3-day/weekly momentum is rolling over — momentum is fading before the…筑底形态尚未确认（价格仍位于 10 日均线下方），且3 日/周线动量已开始掉头向下——动量在形态完成前已开始衰竭。等待价格收复 10 日均线且动量趋于稳定后再考虑建仓。
As of 2026-10-03截至 2026-10-03
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-10-03
Momentum (RSI 14)动量（RSI 14）
47
Neutral zone中性区域
vs 50-day average相对50日均线
+0.1% above上方
Uptrend intact趋势完好
vs 200-day average相对200日均线
+0.3% above上方
Long trend up长期向上
Volatility波动率
19th percentile第19百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
Financials财务数据
fiscal years财年Revenue营业收入
$1.5M2025
20202025
5-yr growth5年复合增速 45.3%
Earnings per share每股收益
$-5.442025
20202025
Free cash flow自由现金流
-$438.2M2025
20202025
Operating margin营业利润率
-18480.8%
Net margin净利率
-18.1%
FCF margin自由现金流利润率
-15553.2%
Balance-sheet quality财务体质 2/8
Return on equity股本回报率 -0%
Watch关注
Leverage杠杆
Current ratio流动比率1.78
Capital allocation资本配置
Stock-based comp股权薪酬$18.7M
Share count change (1y)股数变化（1年）+122.2%
Debt coming due到期债务
FY2025 10-KIn the 12-month bucket following fiscal period end 2025-12-31, it reported $30.4M due — about 11% of its disclosed principal.在财年期末 2025-12-31 之后12个月的区间内，已披露到期本金为 $30.4M，约占其披露本金的 11%。
All maturity buckets are measured from fiscal period end 2025-12-31, not from today.所有到期区间均从财年期末 2025-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$30.4M
Year 2第2年
$80.6M
Year 3第3年
$172.0M
Year 4第4年
not reported未披露
Year 5第5年
not reported未披露
After year 55年以后
not reported未披露
Cash reported at 2025-12-31: $144727000.截至 2025-12-31 披露的现金：$144727000。 At the cash-burn pace reported over 2025-01-01 to 2025-12-31, that cash represented about 4.0 months. This scenario excludes debt payments and future financing.按 2025-01-01 至 2025-12-31 期间披露的现金消耗速度，该现金约对应 4.0 个月。此情景不包括债务偿还与未来融资。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001706946-26-000019, period ending报告期截至 2025-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-10-03T08:37:24.367797+00:00.
3/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive— period_mismatch
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001706946-26-000019 · Filed提交日期 2026-03-30.
Cache acquired缓存获取时间: 2026-10-03T08:37:24.367797+00:00 · Evaluated as of评估截至 2026-10-03.
- Reported operating cash flow已披露经营活动现金流: $-240142000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $198045000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $-438187000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
Golden cross on SPCESPCE 金叉
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： +$0.1M net (1 buyers, 0 sellers)+$0.1M 净值（1 买家，0 卖家）
Signal history信号历史
engine events引擎事件
UPTREND → BOTTOMING上涨趋势 → 筑底中
BUY SETUP. Buyers rejected the 2026-09-01 low (swing low printed) but price hasn't reclaimed its 10-day average — first box ticked, not all买入预备。买方拒绝了 2026-09-01 的低点（摆动低点已现），但价格尚未收复 10 日均线——第一项条件达成，并非全部
Oct 1, 2026
Golden cross on SPCESPCE 金叉
The 50-day average crossed above the 200-day — a slow, widely-watched bullish trend signal. $2.99.50日均线上穿200日均线 — 一个滞后但广受关注的看多趋势信号。$2.99。
Sep 30, 2026
SPCE daily MACD crossed downSPCE 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $2.99.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$2.99。
Sep 25, 2026
BUY ZONE → UPTREND买入区 → 上涨趋势
HOLD持有
Sep 25, 2026
SPCE weekly MACD crossed upSPCE 周线MACD上穿
The weekly MACD histogram turned positive — the slower, less-whippy momentum read.周线MACD柱状图转正 — 更慢、更少来回的动量信号。
Sep 24, 2026
UPTREND → BUY ZONE上涨趋势 → 买入区
BUY买入
Sep 21, 2026
BOTTOMING → BUY ZONE筑底中 → 买入区
BUY买入
Sep 18, 2026
BUY ZONE → BOTTOMING买入区 → 筑底中
BUY SETUP买入预备
Sep 17, 2026
NEARING A LOW → BUY ZONE接近低点 → 买入区
BUY买入
Sep 17, 2026
SPCE reclaimed its 200-day averageSPCE 收复200日均线
Price closed back above the 200-day moving average — the classic bull dividing line. $3.11.收盘重回200日均线 — 经典的多头分界线。$3.11。
Sep 17, 2026
SPCE daily MACD crossed upSPCE 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $3.11.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$3.11。
Showing the last 15 of显示最近15条，共 178 signals条信号
Company profile公司档案
Watch items — what could change the story关注项 — 可能改变故事的因素
- Capital intensity rising
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -6.6% | -0.4% |
| 1 Month近1月 | +2.7% | +0.5% |
| 3 Months近3月 | +10.7% | +2.8% |
| 6 Months近6月 | +21.5% | +17.1% |
| Year to date年初至今 | -9.1% | +12.7% |
| 1 Year近1年 | -22.1% | +15.5% |
Trading information交易信息
Volatility rank波动率分位
19th pctile
EPS (trailing)每股收益
$-0.00
Off 52-week high距52周高点
-60.2%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $238,000 | $3M | $2M | $7M | $7M | $2M |
| EPS每股收益 | $-2.94 | $-1.43 | $-1.89 | $-1.49 | $-13.89 | $-5.44 |
| Free cash flow自由现金流 | $-250M | $-235M | $-397M | $-493M | $-475M | $-438M |
| Gross margin毛利率 | 27.3% | 91.7% | 17.6% | -643.2% | -1179.5% | -4613.0% |
| Net margin净利率 | -270960.9% | -10719.9% | -21632.9% | -7387.3% | -4928.1% | -18063.9% |
| FCF margin自由现金流利润率 | -105193.3% | -7150.6% | -17159.6% | -7242.7% | -6744.7% | -28380.0% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$2M
Net income净利润
$-278,907
Operating cash flow经营现金流
$-240M
Total assets总资产
$803M
Shareholder equity股东权益
$274M
Long-term debt长期负债
$276M
Shares outstanding总股本
0.07B
Returns & growth回报与增长
Return on equity股本回报率
-0.1%
Return on assets资产回报率
-0.0%
Debt / assets负债/资产
34.4%
Asset growth资产增速
-16.4%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 6 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 6 个财年间走高——盈利的现金支撑减弱
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Pricing power: gross margin −4640.3pts over 6 years定价能力：毛利率 6 年下降 4640.3 个百分点
- Capital discipline: investment near the peer median资本纪律：投资力度接近同业中位
- Balance sheet: leverage unremarkable资产负债表：杠杆水平一般
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
47
RSI (2-day)RSI（2日）
6
vs 20-day average相对20日均线
-2.6%
vs 50-day average相对50日均线
+0.1%
vs 200-day average相对200日均线
+0.3%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down — fresh downturn动能向下——刚刚转弱
3-day3日线
momentum up动能向上
Weekly周线
momentum up — fresh upturn动能向上——刚刚转强
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range state波幅状态
CoiledCOILED
Days compressed已压缩天数
23
Range width percentile波幅宽度分位
14/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
+$0.1M
Insider buyers vs sellers内部人买家vs卖家
1 : 0
Recent fund flows近期基金流向
Procure SpaceProcure Space
accumulating持续增持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。