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Virgin Galactic in a Monday announced a new price for a ticket to space: $750,000.

That’s 40% higher than a ticket in August 2021, when the British-American commercial space company charged $450,000 per seat.

In June 2021, Virgin Galactic’s stock traded at $920 per share — an all-time high since publicly listing in 2019. But in July 2021, it put 13.7 million of common stock up for sale, diluting existing shares. In an August 2021 earnings release, Virgin Galactic executives vowed to use the $500 million it earned from the stock sale to expand its space fleet.

Executives now say its new fleet is materializing.

The Tustin, California-headquartered company’s share price has never recovered from its June 2021 high. It traded at $2.16 per share at market close on Monday — roughly 6% lower than at the opening bell.

Full-year 2025 revenues were $1.5 million, down from $7 million in 2024. Virgin Galactic — which has a market capitalization of $157 million — attributed the 78% revenue decline to its decision in June of 2024 to pause commercial spaceflights so it can develop new spaceships.

Virgin Galactic announced it lost $279 million in 2025. That’s compared to a loss of $347 million in 2024.

But company executives see a path to revenue. Virgin Galactic said Monday that assembly of one of its two new spaceships is “nearly complete,” with ground testing scheduled to begin in April. Flight tests will follow. The first commercial spaceflights in the company’s new rockets are scheduled for the fourth quarter of this year.

The company — which trades under Virgin Galactic Holdings, or SPCE — reported 4th quarter 2025 revenues of $312,000, which officials say is “attributable to access fees related to future astronauts.”

Though the company’s revenues have been flagging, recent figures suggest the small market for commercial space flights is expanding.

Virgin Galactic is the anchor tenant of Spaceport America, located north of Las Cruces, adjacent to the U.S. Army’s White Sands Missile Range. It is one of 14 spaceports in the U.S. licensed by the Federal Aviation Administration, according to a 2025 annual report released in January.

In 2025, the number of FAA-licensed orbital commercial space launches reached 187, a 379.5% increase since 2020, the report said.

Justin Horwath covers tech and energy for the Journal. He can be reached at jhorwath@abqjournal.com.