VORB · Virgin Orbit Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2022 | FY 2021 |
|---|---|---|
| Revenue | $33.11M | $3.84M |
| Cost of Revenue | $85.74M | $3.17M |
| Gross Profit | ($52.63M) | $672.0K |
| R&D | $43.26M | $137.13M |
| SG&A | $120.47M | $43.00M |
| Total Operating Expenses | - | - |
| D&A | $12.72M | $13.97M |
| Operating Income | ($216.36M) | ($179.47M) |
| Interest Expense | $1.33M | $4.85M |
| Income Tax | $11.0K | $5.0K |
| Net Income | ($191.16M) | ($121.65M) |
| EPS - Basic | ($0.57) | ($0.50) |
| EPS - Diluted | ($0.57) | ($0.50) |
Balance Sheet
| Line item | FY 2022 | FY 2021 |
|---|---|---|
| Cash & Equivalents | $51.20M | $22.43M |
| Accounts Receivable | $389.0K | $3.36M |
| Inventory | $77.06M | $66.0K |
| Accounts Payable | $21.93M | $3.30M |
| Current Assets | $147.19M | $36.63M |
| Total Assets | $240.80M | $100.60M |
| Current Liabilities | $121.42M | $27.11M |
| Long-term Debt | - | $235.11M |
| Total Liabilities | $192.38M | $300.23M |
| Stockholders' Equity | $48.42M | ($113.12M) |
| Retained Earnings | ($1.01B) | ($663.16M) |
Cash Flow
| Line item | FY 2022 | FY 2021 |
|---|---|---|
| Operating Cash Flow | ($219.29M) | ($143.02M) |
| Investing Cash Flow | ($18.45M) | ($13.30M) |
| Financing Cash Flow | $96.18M | $31.66M |
| CapEx | $20.90M | $13.34M |
| Free Cash Flow | ($240.19M) | ($156.35M) |
Ratios
| Metric | FY 2022 | FY 2021 |
|---|---|---|
| Profitability | ||
| Gross margin | -159.0% | 17.5% |
| Operating margin | -653.5% | -4673.6% |
| EBITDA margin | -615.1% | -4309.7% |
| Net margin | -577.4% | -3168.0% |
| Free cash flow margin | -725.5% | -4071.7% |
| FCF / Net income | 1.26 | 1.29 |
| R&D / Revenue | 130.7% | 3571.2% |
| SG&A / Revenue | 363.9% | 1119.9% |
| Effective tax rate | - | - |
| Return on assets | -79.4% | -120.9% |
| Return on equity | -394.8% | 107.5% |
| Return on invested capital | - | -116.2% |
| Liquidity | ||
| Current ratio | 1.21 | 1.35 |
| Quick ratio | 0.58 | 1.35 |
| Cash ratio | 0.42 | 0.83 |
| Leverage | ||
| Debt / Equity | - | -2.08 |
| Debt / Assets | - | 2.34 |
| Debt / EBITDA | - | - |
| Interest coverage | -163.2x | -37.0x |
| Equity multiplier | 4.97 | -0.89 |
| Liabilities / Assets | 0.80 | 2.98 |
| Efficiency | ||
| Asset turnover | 0.14 | 0.04 |
| Inventory turnover | 1.11 | 48.00 |
| Days sales outstanding | 4d | 319d |
| Days inventory outstanding | 328d | 8d |
| Days payable outstanding | 93d | 381d |
| Cash conversion cycle | 239d | -54d |
| Valuation | ||
| P / E | - | - |
| P / B | - | - |
| P / S | - | - |
| EV / EBITDA | - | - |
| Growth | ||
| Revenue growth (YoY) | 762.1% | - |
| Revenue CAGR (3y) | - | - |
| Revenue CAGR (5y) | - | - |
| Gross profit growth (YoY) | - | - |
| Operating income growth (YoY) | -20.6% | - |
| Net income growth (YoY) | -57.1% | - |
| EPS growth (YoY) | -14.0% | - |
| EPS CAGR (3y) | - | - |
| EPS CAGR (5y) | - | - |
| FCF growth (YoY) | -53.6% | - |
| FCF CAGR (5y) | - | - |
| Book value growth (YoY) | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$7.40M totalLaunch Services$6.00M · 81.1%
Engineering Services$1.40M · 18.9%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
-6.03
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2022 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Search, Detection, Navigation, Guidance, Aeronautical Sys
Comparing Virgin Orbit Holdings against the 5 most active filers in the same SIC group.