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Side-by-side financial comparison of Virgin Galactic Holdings, Inc (SPCE) and Expion360 Inc. (XPON). Click either name above to swap in a different company.
Virgin Galactic Holdings, Inc is the larger business by last-quarter revenue ($4.2M vs $2.2M, roughly 1.9× Expion360 Inc.). Expion360 Inc. runs the higher net margin — -199.9% vs -2222.2%, a 2022.2% gap on every dollar of revenue. On growth, Virgin Galactic Holdings, Inc posted the faster year-over-year revenue change (125.5% vs 11.8%).
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.
Expion360 Inc. is a provider of high-performance lithium iron phosphate (LFP) battery solutions and supporting energy storage products. Its core customer segments cover recreational vehicle owners, marine users, off-grid lifestyle enthusiasts and residential users across the U.S. market, delivering safe, durable and low-carbon energy storage options.
SPCE vs XPON — Head-to-Head
Income Statement — Q2 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.2M | $2.2M |
| Net Profit | $-93.8M | $-4.4M |
| Gross Margin | -546.6% | -14.8% |
| Operating Margin | -2412.1% | -234.4% |
| Net Margin | -2222.2% | -199.9% |
| Revenue YoY | 125.5% | 11.8% |
| Net Profit YoY | 30.2% | -1663.2% |
| EPS (diluted) | $-4.36 | $-0.45 |
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.
| Q4 25 | — | $2.2M | ||
| Q3 25 | — | $2.4M | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | — | $2.0M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | — | $1.4M | ||
| Q2 24 | $4.2M | $1.3M | ||
| Q1 24 | $2.0M | $971.9K |
| Q4 25 | — | $-4.4M | ||
| Q3 25 | — | $722.8K | ||
| Q2 25 | — | $-1.4M | ||
| Q1 25 | — | $-1.2M | ||
| Q4 24 | — | $-251.6K | ||
| Q3 24 | — | $-8.8M | ||
| Q2 24 | $-93.8M | $-2.2M | ||
| Q1 24 | $-102.0M | $-2.2M |
| Q4 25 | — | -14.8% | ||
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | — | 12.1% | ||
| Q2 24 | -546.6% | 25.5% | ||
| Q1 24 | -1038.1% | 22.9% |
| Q4 25 | — | -234.4% | ||
| Q3 25 | — | -125.4% | ||
| Q2 25 | — | -45.2% | ||
| Q1 25 | — | -56.0% | ||
| Q4 24 | — | -59.5% | ||
| Q3 24 | — | -138.7% | ||
| Q2 24 | -2412.1% | -131.4% | ||
| Q1 24 | -5599.9% | -202.4% |
| Q4 25 | — | -199.9% | ||
| Q3 25 | — | 30.2% | ||
| Q2 25 | — | -45.8% | ||
| Q1 25 | — | -56.2% | ||
| Q4 24 | — | -12.7% | ||
| Q3 24 | — | -634.4% | ||
| Q2 24 | -2222.2% | -173.7% | ||
| Q1 24 | -5139.1% | -225.6% |
| Q4 25 | — | $-0.45 | ||
| Q3 25 | — | $0.10 | ||
| Q2 25 | — | $-0.41 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | — | $65.02 | ||
| Q3 24 | — | $-24.55 | ||
| Q2 24 | $-4.36 | $-30.20 | ||
| Q1 24 | $-5.10 | $-31.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $775.7M | $3.0M |
| Total DebtLower is stronger | — | $197.2K |
| Stockholders' EquityBook value | $394.8M | $6.5M |
| Total Assets | $1.1B | $8.1M |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.0M | ||
| Q3 25 | — | $4.3M | ||
| Q2 25 | — | $684.9K | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $547.6K | ||
| Q3 24 | — | $3.3M | ||
| Q2 24 | $775.7M | $902.3K | ||
| Q1 24 | $765.2M | $2.3M |
| Q4 25 | — | $197.2K | ||
| Q3 25 | — | $205.6K | ||
| Q2 25 | — | $213.6K | ||
| Q1 25 | — | $221.8K | ||
| Q4 24 | — | $230.2K | ||
| Q3 24 | — | $239.9K | ||
| Q2 24 | — | $247.7K | ||
| Q1 24 | — | $255.4K |
| Q4 25 | — | $6.5M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $2.1M | ||
| Q1 25 | — | $3.2M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $2.5M | ||
| Q2 24 | $394.8M | $2.5M | ||
| Q1 24 | $417.6M | $3.7M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | — | $10.7M | ||
| Q2 25 | — | $8.6M | ||
| Q1 25 | — | $9.2M | ||
| Q4 24 | — | $9.1M | ||
| Q3 24 | — | $10.1M | ||
| Q2 24 | $1.1B | $8.8M | ||
| Q1 24 | $1.1B | $10.0M |
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.09× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.10× | ||
| Q1 24 | — | 0.07× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-79.1M | $-2.4M |
| 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.
| Q4 25 | — | $-2.4M | ||
| Q3 25 | — | $-2.1M | ||
| Q2 25 | — | $-401.0K | ||
| Q1 25 | — | $-1.2M | ||
| Q4 24 | — | $-2.9M | ||
| Q3 24 | — | $-3.2M | ||
| Q2 24 | $-79.1M | $-1.7M | ||
| Q1 24 | $-113.2M | $-1.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-113.5M | — | ||
| Q1 24 | $-126.3M | $-1.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -2690.7% | — | ||
| Q1 24 | -6362.8% | -173.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 815.5% | — | ||
| Q1 24 | 658.5% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | -2.90× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
