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Side-by-side financial comparison of Ellington Credit Co (EARN) and Virgin Galactic Holdings, Inc (SPCE). Click either name above to swap in a different company.

Ellington Credit Co is the larger business by last-quarter revenue ($6.1M vs $4.2M, roughly 1.5× Virgin Galactic Holdings, Inc). Ellington Credit Co runs the higher net margin — -32.6% vs -2222.2%, a 2189.5% gap on every dollar of revenue. On growth, Ellington Credit Co posted the faster year-over-year revenue change (1528.9% vs 125.5%).

Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.

Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.

EARN vs SPCE — Head-to-Head

Bigger by revenue
EARN
EARN
1.5× larger
EARN
$6.1M
$4.2M
SPCE
Growing faster (revenue YoY)
EARN
EARN
+1403.4% gap
EARN
1528.9%
125.5%
SPCE
Higher net margin
EARN
EARN
2189.5% more per $
EARN
-32.6%
-2222.2%
SPCE

Income Statement — Q3 FY2025 vs Q2 FY2024

Metric
EARN
EARN
SPCE
SPCE
Revenue
$6.1M
$4.2M
Net Profit
$-2.0M
$-93.8M
Gross Margin
-546.6%
Operating Margin
-35.6%
-2412.1%
Net Margin
-32.6%
-2222.2%
Revenue YoY
1528.9%
125.5%
Net Profit YoY
-116.1%
30.2%
EPS (diluted)
$-4.36

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
EARN
EARN
SPCE
SPCE
Q4 24
$6.1M
Q3 24
$4.8M
Q2 24
$3.9M
$4.2M
Q1 24
$2.0M
Q4 23
$2.8M
Q3 23
$1.7M
Q2 23
$1.9M
Q1 23
$-372.0K
Net Profit
EARN
EARN
SPCE
SPCE
Q4 24
$-2.0M
Q3 24
$5.4M
Q2 24
$-815.0K
$-93.8M
Q1 24
$-102.0M
Q4 23
$-104.0M
Q3 23
$-104.6M
Q2 23
$-134.4M
Q1 23
$2.3M
Gross Margin
EARN
EARN
SPCE
SPCE
Q4 24
Q3 24
Q2 24
-546.6%
Q1 24
-1038.1%
Q4 23
-766.4%
Q3 23
-1384.3%
Q2 23
87.5%
Q1 23
Operating Margin
EARN
EARN
SPCE
SPCE
Q4 24
-35.6%
Q3 24
Q2 24
-22.8%
-2412.1%
Q1 24
-5599.9%
Q4 23
-4067.8%
Q3 23
-6613.0%
Q2 23
-7459.4%
Q1 23
Net Margin
EARN
EARN
SPCE
SPCE
Q4 24
-32.6%
Q3 24
114.6%
Q2 24
-20.9%
-2222.2%
Q1 24
-5139.1%
Q4 23
-3701.8%
Q3 23
-6053.5%
Q2 23
-7181.4%
Q1 23
-628.2%
EPS (diluted)
EARN
EARN
SPCE
SPCE
Q4 24
Q3 24
Q2 24
$-4.36
Q1 24
$-5.10
Q4 23
$-14.49
Q3 23
$-5.57
Q2 23
$-9.16
Q1 23

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
EARN
EARN
SPCE
SPCE
Cash + ST InvestmentsLiquidity on hand
$31.8M
$775.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$193.7M
$394.8M
Total Assets
$824.1M
$1.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EARN
EARN
SPCE
SPCE
Q4 24
$31.8M
Q3 24
$25.7M
Q2 24
$118.8M
$775.7M
Q1 24
$765.2M
Q4 23
$874.0M
Q3 23
$997.1M
Q2 23
$940.2M
Q1 23
$36.7M
Stockholders' Equity
EARN
EARN
SPCE
SPCE
Q4 24
$193.7M
Q3 24
$191.6M
Q2 24
$146.1M
$394.8M
Q1 24
$417.6M
Q4 23
$505.5M
Q3 23
$599.4M
Q2 23
$484.5M
Q1 23
$115.0M
Total Assets
EARN
EARN
SPCE
SPCE
Q4 24
$824.1M
Q3 24
$752.3M
Q2 24
$933.5M
$1.1B
Q1 24
$1.1B
Q4 23
$1.2B
Q3 23
$1.3B
Q2 23
$1.1B
Q1 23
$1.1B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
EARN
EARN
SPCE
SPCE
Operating Cash FlowLast quarter
$4.4M
$-79.1M
Free Cash FlowOCF − Capex
$-113.5M
FCF MarginFCF / Revenue
-2690.7%
Capex IntensityCapex / Revenue
815.5%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-458.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EARN
EARN
SPCE
SPCE
Q4 24
$4.4M
Q3 24
$3.2M
Q2 24
$2.7M
$-79.1M
Q1 24
$-113.2M
Q4 23
$-95.3M
Q3 23
$-91.5M
Q2 23
$-125.3M
Q1 23
$-2.4M
Free Cash Flow
EARN
EARN
SPCE
SPCE
Q4 24
Q3 24
Q2 24
$-113.5M
Q1 24
$-126.3M
Q4 23
$-113.7M
Q3 23
$-104.8M
Q2 23
$-135.2M
Q1 23
FCF Margin
EARN
EARN
SPCE
SPCE
Q4 24
Q3 24
Q2 24
-2690.7%
Q1 24
-6362.8%
Q4 23
-4046.9%
Q3 23
-6066.1%
Q2 23
-7224.3%
Q1 23
Capex Intensity
EARN
EARN
SPCE
SPCE
Q4 24
Q3 24
Q2 24
815.5%
Q1 24
658.5%
Q4 23
653.9%
Q3 23
771.1%
Q2 23
526.4%
Q1 23
Cash Conversion
EARN
EARN
SPCE
SPCE
Q4 24
Q3 24
0.60×
Q2 24
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
-1.02×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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