Michael Sheetz+ Your Authors @thesheetztweetz Space Reporter @CNBC | pitches [email protected] | DM for cell, WhatsApp, Signal, ProtonMail | formerly @DJNF @ESTribune | alumnus @TheKingsCollege Feb. 25, 2020 1 min read + Your Authors

Virgin Galactic's first ever quarterly conference call with investors has begun. $SPCE

Thread:
 https://www.cnbc.com/2020/02/25/virgin-galactic-earnings-q4-2019.html 

CEO @gtwhitesides kicks us off.

Here's Virgin Galactic's Q4 presentation:  https://s24.q4cdn.com/816362521/files/doc_presentations/Virgin-Galactic-Q4-FY-2019-Presentation-2.25.20-FINAL.PDF 

Virgin Galactic's full board of directors

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Virgin Galactic has cleared 20 of the 29 elements of the Federal Aviation Administration's "Verification and Validation program," with 10 elements completed in Q1 2020.

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Virgin Galactic's case for why it can develop high speed point-to-point travel:

- Flying commercial supersonic vehicle
- Boeing partnership
- The Spaceship Company
- Horizontal launch & landing experience
- "advanced engineering group"
- Virgin Group airlines experience
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Whitesides: Virgin Galactic is exploring "significant interest" to leverage the jet-powered carrier aircraft Eve "for other markets."

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CFO Jon Campagna: As we get closer to commercial launch we expect to report more detailed financial results.

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Whitesides: "Our direct sales funnel is now strong" and feel pipeline is well set up to turn possible interest into paying and flying customers.

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Q&A with analysts beginning now $SPCE

Morgan Stanley's Adam Jonas: What do you think of the share price here?

Whitesides: I think we're just going to keep executing, we're a team of spaceflight engineers.
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Credit Suisse's Ron Spingarn: Pricing for next tickets?

Whitesides: That's a very important question and we will be sharing more on strategy on "premium pricing."The $1000 deposits help identify who is most eager for next batch of sales. $SPCE

Whitesides: "We do plan on going back into the market with a higher [than $250,000] price point"

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Spingarn: Are you still on schedule for mid-summer for 1st flight?

Whitesides: Our #1 priority is to fly safely and not just Sir Richard but flying him is our main goal for 2020. How much revenue we generate in 2020 is not what will make this company a great success.
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