Virgin Galactic (SPCE) 10-Q3 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-38202
Entity Registrant Name	Virgin Galactic Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-3608069
Entity Address, Address Line One	1700 Flight Way
Entity Address, City or Town	Tustin
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92782
City Area Code	(949)
Local Phone Number	774-7640
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	SPCE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		274,559,169
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Entity Central Index Key	0001706946
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 394,032	$ 524,481
Restricted cash	40,328	25,549
Marketable securities, short-term	606,713	79,418
Inventories	22,851	29,668
Prepaid expenses and other current assets	22,094	19,476
Total current assets	1,086,018	678,592
Marketable securities, long-term	69,072	301,463
Property, plant, and equipment, net	48,874	47,498
Other non-current assets	55,220	41,281
Total assets	1,259,184	1,068,834
Current liabilities
Accounts payable	19,872	9,237
Accrued liabilities	43,389	28,787
Customer deposits	103,971	90,863
Other current liabilities	3,336	2,636
Total current liabilities	170,568	131,523
Non-current liabilities
Convertible senior notes, net	415,188	0
Other long-term liabilities	59,885	43,047
Total liabilities	645,641	174,570
Commitments and contingencies (Note 17)
Stockholders' equity
Preferred stock, $0.0001 par value; 10,000,000 authorized; none issued and outstanding	0	0
Common stock, $0.0001 par value; 700,000,000 shares authorized; 274,481,195 and 258,166,417 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	27	26
Additional paid-in capital	2,096,901	2,019,750
Accumulated deficit	(1,472,975)	(1,123,643)
Accumulated other comprehensive income	(10,410)	(1,869)
Total stockholders' equity	613,543	894,264
Total liabilities and stockholders' equity	$ 1,259,184	$ 1,068,834

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	700,000,000	700,000,000
Common stock, shares issued (in shares)	274,481,195	258,166,417
Common stock, shares outstanding (in shares)	274,481,195	258,166,417

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 767	$ 2,580	$ 1,443	$ 3,151
Operating expenses:
Customer experience	590	207	737	270
Selling, general, and administrative	46,113	48,268	127,820	128,503
Research and development	97,411	34,289	211,578	103,997
Depreciation and amortization	2,214	2,895	7,981	8,635
Total operating expenses	146,328	85,659	348,116	241,405
Operating loss	(145,561)	(83,079)	(346,673)	(238,254)
Interest income	3,524	240	6,327	785
Interest expense	(3,293)	(6)	(8,924)	(19)
Change in fair value of warrants	0	34,432	0	(34,650)
Other income, net	(203)	70	7	110
Loss before income taxes	(145,533)	(48,343)	(349,263)	(272,028)
Income tax expense	(21)	(25)	(69)	(74)
Net loss	(145,554)	(48,368)	(349,332)	(272,102)
Other comprehensive income (loss):
Foreign currency translation adjustment	(180)	3	(313)	11
Unrealized loss on marketable securities	(585)	(437)	(8,227)	(437)
Total comprehensive loss	$ (146,319)	$ (48,802)	$ (357,872)	$ (272,528)
Net loss per share:
Basic (in dollars per share)	$ (0.55)	$ (0.19)	$ (1.34)	$ (1.11)
Diluted (in dollars per share)	$ (0.55)	$ (0.32)	$ (1.34)	$ (1.11)
Weighted-average shares outstanding:
Basic (in shares)	263,907,259	254,749,195	260,255,202	244,157,923
Diluted (in shares)	263,907,259	255,147,228	260,255,202	244,157,923

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020		236,123,659
Beginning balance at Dec. 31, 2020	$ 527,078	$ 23	$ 1,297,794	$ (770,744)	$ 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(129,694)			(129,694)
Other comprehensive income (loss)	26				26
Stock-based compensation	22,111		22,111
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes (in shares)		1,150,771
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes	323		323
Ending balance (in shares) at Mar. 31, 2021		237,274,430
Ending balance at Mar. 31, 2021	419,844	$ 23	1,320,228	(900,438)	31
Beginning balance (in shares) at Dec. 31, 2020		236,123,659
Beginning balance at Dec. 31, 2020	527,078	$ 23	1,297,794	(770,744)	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(272,102)
Ending balance (in shares) at Sep. 30, 2021		257,397,850
Ending balance at Sep. 30, 2021	969,929	$ 25	2,013,171	(1,042,846)	(421)
Beginning balance (in shares) at Mar. 31, 2021		237,274,430
Beginning balance at Mar. 31, 2021	419,844	$ 23	1,320,228	(900,438)	31
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(94,040)			(94,040)
Other comprehensive income (loss)	(20)				(20)
Stock-based compensation	14,423		14,423
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes (in shares)		275,283
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes	840		840
Common stock issued related to warrants exercised (in shares)		3,387,827
Common stock issued related to warrants exercised	104,176		104,176
Ending balance (in shares) at Jun. 30, 2021		240,937,540
Ending balance at Jun. 30, 2021	445,223	$ 23	1,439,667	(994,478)	11
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(48,368)			(48,368)
Other comprehensive income (loss)	(432)				(432)
Stock-based compensation	12,170		12,170
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes (in shares)		685,487
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes	1,916		1,916
Common stock issued related to warrants exercised (in shares)		2,034,390
Common stock issued related to warrants exercised	65,914		65,914
Common stock issued pursuant to at-the-market offering (in shares)		13,740,433
Issuance of common stock pursuant to an at-the-market offering	500,000	$ 2	499,998
Transaction costs related to an at-the-market offering	(6,494)		(6,494)
Ending balance (in shares) at Sep. 30, 2021		257,397,850
Ending balance at Sep. 30, 2021	$ 969,929	$ 25	2,013,171	(1,042,846)	(421)
Beginning balance (in shares) at Dec. 31, 2021	258,166,417	258,166,417
Beginning balance at Dec. 31, 2021	$ 894,264	$ 26	2,019,750	(1,123,643)	(1,869)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(93,057)			(93,057)
Other comprehensive income (loss)	(5,805)				(5,805)
Stock-based compensation	10,895		10,895
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes (in shares)		307,471
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes	(1,882)		(1,882)
Purchase of capped calls	(52,318)		(52,318)
Ending balance (in shares) at Mar. 31, 2022		258,473,888
Ending balance at Mar. 31, 2022	$ 752,097	$ 26	1,976,445	(1,216,700)	(7,674)
Beginning balance (in shares) at Dec. 31, 2021	258,166,417	258,166,417
Beginning balance at Dec. 31, 2021	$ 894,264	$ 26	2,019,750	(1,123,643)	(1,869)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (349,332)
Ending balance (in shares) at Sep. 30, 2022	274,481,195	274,481,195
Ending balance at Sep. 30, 2022	$ 613,543	$ 27	2,096,901	(1,472,975)	(10,410)
Beginning balance (in shares) at Mar. 31, 2022		258,473,888
Beginning balance at Mar. 31, 2022	752,097	$ 26	1,976,445	(1,216,700)	(7,674)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(110,721)			(110,721)
Other comprehensive income (loss)	(1,970)				(1,970)
Stock-based compensation	12,083		12,083
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes (in shares)		216,758
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes	(914)		(914)
Ending balance (in shares) at Jun. 30, 2022		258,690,646
Ending balance at Jun. 30, 2022	650,575	$ 26	1,987,614	(1,327,421)	(9,644)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(145,554)			(145,554)
Other comprehensive income (loss)	(766)				(766)
Stock-based compensation	11,510		11,510
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes (in shares)		202,949
Issuance of common stock pursuant to stock-based compensation, net of withholding taxes	(633)		(633)
Common stock issued pursuant to at-the-market offering (in shares)		15,587,600
Issuance of common stock pursuant to an at-the-market offering	99,574	$ 1	99,573
Transaction costs related to an at-the-market offering	$ (1,163)		(1,163)
Ending balance (in shares) at Sep. 30, 2022	274,481,195	274,481,195
Ending balance at Sep. 30, 2022	$ 613,543	$ 27	$ 2,096,901	$ (1,472,975)	$ (10,410)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net loss	$ (349,332)	$ (272,102)
Stock-based compensation	34,488	48,704
Depreciation, amortization and impairment	12,174	8,635
Amortization of debt issuance costs	1,466	0
Change in fair value of warrants	0	34,650
Non-cash interest and other operating activities, net	6,063	(42)
Change in assets and liabilities
Inventories	6,817	1,178
Other current and non-current assets	2,253	6,342
Accounts payable and accrued liabilities	23,828	1,824
Customer deposits	13,108	2,148
Other current and non-current liabilities	136	3,026
Net cash used in operating activities	(248,999)	(165,637)
Cash flows from investing activity
Capital expenditures	(12,306)	(2,452)
Purchases of marketable securities	(604,945)	(286,132)
Proceeds from maturities and calls of marketable securities	294,612	0
Cash used in investing activity	(322,639)	(288,584)
Cash flows from financing activities
Payments of lease obligations	(132)	(105)
Proceeds from convertible senior notes	425,000	0
Debt issuance costs	(11,278)	0
Capped call premium	(52,318)	0
Repayment of commercial loan	(310)	(310)
Proceeds from issuance of common stock	99,573	500,000
Proceeds from issuance of common stock pursuant to stock options exercised	49	18,856
Transaction costs related to issuance of common stock	(1,137)	(6,753)
Withholding taxes paid on behalf of employees on net settled stock-based awards	(3,479)	(15,779)
Net cash provided by financing activities	455,968	495,909
Net increase (decrease) in cash and cash equivalents	(115,670)	41,688
Cash, cash equivalents and restricted cash at beginning of year	550,030	678,955
Cash, cash equivalents and restricted cash ending balances	434,360	720,643
Cash and cash equivalents	394,032	702,565
Restricted cash	40,328	18,078
Cash, cash equivalents and restricted cash	$ 434,360	$ 720,643

Organization and its wholly own

Organization and its wholly owned subsidiaries	9 Months Ended
Organization and its wholly owned subsidiaries	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and its wholly owned subsidiaries	Organization and its wholly owned subsidiariesVirgin Galactic Holdings, Inc. and its wholly owned subsidiaries ("we," "us," "our," the "Company" and similar terms) are focused on the development, manufacture and operation of spaceships and related technologies for the purpose of conducting commercial human spaceflight and flying commercial research and development payloads into space. The development and manufacturing activities are located in Tustin, California and Mojave, California, with plans to operate the commercial spaceflights out of Spaceport America located in New Mexico.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting PoliciesBasis of Presentation These condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). All intercompany transactions and balances between the various legal entities comprising the Company have been eliminated in consolidation. Certain reclassifications of the components of operating loss for the three and nine month period ended September 30, 2021 have been made to the comparable prior period in the Condensed Consolidated Statements of Operations and Comprehensive Loss to conform to the same current period presentations. Specifically, cost of revenue has been reclassified to customer experience, and gross margin is no longer presented. Customer experience expenses related to spaceflight operations include the consumption of a rocket motor and fuel and other consumables, as well as payroll and benefits for our pilots and ground crew. Customer experience expenses related to the payload cargo services, as well as engineering services, consist of materials and human capital, such as payroll and benefits, to perform these services. Additionally, customer experience expenses include costs associated with maintaining and growing our Future Astronaut community through offerings provided to community members, as well as hospitality, medical, safety, security, training, and facility costs that are for the benefit of our future astronauts. Additionally, depreciation and amortization expense are presented separately instead of included in selling, general, and administrative or research and development expenses. These reclassifications had no impact on total loss as previously reported. On January 1, 2022, the Company adopted ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which removes from GAAP the liability and equity separation model for convertible instruments with either cash or beneficial conversion features. As a result, convertible debt instruments would only be separated into multiple components if they were issued at a substantial premium or if embedded derivatives requiring bifurcation were identified. The convertible senior notes (the "2027 Notes") were not issued at a substantial premium, and the Company analyzed the provisions of the notes and did not identify any material embedded features which would require bifurcation from the host debt. As such, the notes are accounted for entirely as a liability net of unamortized issuance costs. The carrying amount of the liability is classified as long-term as the instrument does not mature within one year of the balance sheet date and the holder is not permitted to demand repayment of the principal within one year of the balance sheet date. However, if conditions to convertibility are met as described further in Note 11 , the Company may be required to reclassify the carrying amount of the liability to current. The embedded conversion features are not remeasured as long as they do not meet the separation requirement of a derivative. Issuance costs are amortized on a straight-line basis, which approximates the effective interest rate method, to interest expense over the term of the notes. Additionally, ASU 2020-06 requires the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share, however there was no impact during the current quarter as the convertible instruments were anti-dilutive. In connection with the pricing of our 2027 Notes, the Company entered into capped call transactions with respect to its common stock (the "2027 Capped Calls"). The 2027 Capped Calls are purchased call options that give the Company the option to purchase shares of our common stock, subject to anti-dilution adjustments substantially identical to those in the 2027 Notes. The Company's capped call transactions are accounted for as separate transactions from the 2027 Notes and are classified as equity instruments as a reduction to additional paid-in capital in the Condensed Consolidated Balance Sheets. The instruments are initially recorded at fair value and not subsequently remeasured so long as they continue to qualify for equity classification based on the Company's intent and ability for the 2027 Capped Calls to be settled in shares of our common stock. The capped call transactions have the effect of reducing the number of shares outstanding if exercised. Therefore, the capped call transactions are anti-dilutive and not included in the calculation of diluted shares outstanding for the purposes of diluted net loss per share. See Note 11 for additional information on the 2027 Capped Calls.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASU”). See Note 2 for additional information on recently adopted accounting pronouncements.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe Company licenses its brand name from certain entities affiliated with Virgin Enterprises Limited (“VEL”), a company incorporated in England. VEL is an affiliate of the Company. Under the trademark license, the Company has the exclusive right to operate under the brand name “Virgin Galactic” worldwide. Royalty payables, excluding sponsorship royalties, for the use of license are the greater of 1% of revenue or $40,000 per quarter, prior to the commercial launch date. Sponsorship royalties payable are 25% of sponsorship revenue. We paid license and royalty fees of $40,000 and $390,000 for the three months ended September 30, 2022 and 2021, respectively. We paid license and royalty fees of $120,000 and $470,000 for the nine months ended September 30, 2022 and 2021, respectively. The Company has a Transition Services Agreement ("TSA") with Virgin Orbit, LLC ("VO") based on allocated operating expense from Virgin Orbit Holdings, Inc. and its subsidiaries (“VOH”), a majority owned company of Virgin Investments Limited ("VIL"), for operations-related functions based on an allocation methodology that considers our headcount, unless directly attributable to the business. Operating expense allocations include use of machinery and equipment, pilot services, and other general administrative expenses. We were allocated $46,000 and $33,000 operating expenses, net, from VOH for the three months ended September 30, 2022 and 2021, respectively. We were allocated $80,000 and $104,000 of operating expenses, net from VOH for the nine months ended September 30, 2022 and 2021, respectively. The Company has a receivable from VOH of $32,000 and $43,000 as of September 30, 2022 and December 31, 2021, respectively.

Cash, Restricted Cash, Cash Equ

Cash, Restricted Cash, Cash Equivalents and Marketable Securities	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Cash, Restricted Cash, Cash Equivalents and Marketable Securities	Cash, Restricted Cash, Cash Equivalents and Marketable Securities The amortized cost, unrealized loss and estimated fair value of the Company's cash, cash equivalents, restricted cash, and marketable securities as of September 30, 2022 and December 31, 2021: As of September 30, 2022 Amortized Cost Gross Unrealized Losses Fair Value (In thousands) Cash, restricted cash and cash equivalents Cash and restricted cash $ 8,358 $ — $ 8,358 Money market 384,575 — 384,575 Certificate of deposits 41,427 — 41,427 Marketable securities US treasuries 149,102 (183) 148,919 Corporate debt securities 536,913 (10,047) 526,866 Total cash, cash equivalents, restricted cash and marketable securities $ 1,120,375 $ (10,230) $ 1,110,145 As of December 31, 2021 Amortized Cost Gross Unrealized Losses Fair Value (In thousands) Cash, restricted cash and cash equivalents Cash and restricted cash $ 55,592 $ — $ 55,592 Money market 402,889 — 402,889 Certificate of deposits 91,549 — 91,549 Marketable securities Corporate debt securities 382,884 (2,003) 380,881 Total cash, cash equivalents and marketable securities $ 932,914 $ (2,003) $ 930,911 The Company included $39.8 million and $1.0 million of current restricted cash held in a money market account as of September 30, 2022 and December 31, 2021, respectively. The Company included $3.2 million and $2.3 million of interest receivable in prepaid expenses and other current assets as of September 30, 2022 and December 31, 2021, respectively. The Company recognizes amortization and accretion of purchase premiums and discounts on our marketable securities within interest income, net. The Company recognized $1.5 million and $0.3 million in amortization expense for our marketable securities within interest income, net for the three months ended September 30, 2022 and September 30, 2021, respectively. The Company recognized $5.5 million and $0.3 million in amortization expense for marketable securities within interest income, net for the nine months ended September 30, 2022 and September 30, 2021, respectively. We record gross realized gains and losses as a component of other income, net in the consolidated statements of operations. For the three months ended September 30, 2022, the Company recognized $0.2 million loss in other income, net, and for the three months ended September 2021, the Company did not recognize any material gross realized gains and losses. For the nine months ended September 30, 2022, the Company recognized $0.3 million loss in other income, net. For the nine months ended September 30, 2021, the Company did not recognize any material gross realized gains and losses. The following table presents the contractual maturities of the Company's marketable securities as of September 30, 2022: As of September 30, 2022 Amortized Cost Estimated Fair Value (In thousands) Matures within one year $ 614,641 $ 606,713 Matures between one to two years 71,374 69,072 Total $ 686,015 $ 675,785

Inventory

Inventory	9 Months Ended
Inventory	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventory	InventoryAs of September 30, 2022 and December 31, 2021, inventory is comprised of the following: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Raw materials $ 13,267 $ 21,127 Spare parts 9,584 8,541 Total inventory $ 22,851 $ 29,668

Property, Plant, and Equipment,

Property, Plant, and Equipment, net	9 Months Ended
Property, Plant, and Equipment, net	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant, and Equipment, net As of September 30, 2022 and December 31, 2021, property, plant, and equipment, net consisted of the following: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Land $ 1,302 $ — Buildings 9,118 9,117 Leasehold improvements 30,457 29,155 Aircraft 195 195 Machinery and equipment 35,670 37,002 IT software and equipment 28,911 23,523 Construction in progress 3,152 2,901 108,805 101,893 Less accumulated depreciation and amortization (59,931) (54,395) Property, plant, and equipment, net $ 48,874 $ 47,498 The following table sets forth the summary of depreciation and amortization expense for property, plant and equipment, net: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Unaudited and in thousands) Customer experience $ — $ — $ — $ — Selling, general, and administrative 1,819 1,592 5,085 4,774 Research and development 395 1,304 2,896 3,861 $ 2,214 $ 2,895 $ 7,981 $ 8,635

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2022
Leases [Abstract]
Leases	Leases On July 14, 2022, the Company entered into an agreement to lease 151,096 square feet of manufacturing and operations facilities in Mesa, Arizona consisting of two hangars ("Hangar C" and "Hangar B"). The lease has an initial term of approximately ten years and five months after the commencement date applicable to Hangar C or Hangar B, whichever is later, and is expected to commence ten months following the date of the agreement was entered into with respect to Hangar C and fifteen months following the date of the agreement was entered into for Hangar B. The average annual base rent under the lease is approximately $3.0 million. The Company has four options to extend the term of the lease, each for an additional five years. The Company's leases are more fully described in Note 8 of the "Notes to Consolidated Financial Statements" to its Annual Report on Form 10-K. The components of lease expense related to leases for the periods presented below are as follows: Three Months Ended 2022 2021 (Unaudited and in thousands) Lease Cost: Operating lease expense $ 2,553 $ 1,244 Short-term lease expense — 6 Finance Lease Cost: Amortization of right-of-use assets 42 34 Interest on lease liabilities 11 6 Total finance lease cost 53 40 Variable lease cost 1,760 1,475 Total lease cost $ 4,366 $ 2,765 Nine Months Ended 2022 2021 (Unaudited and in thousands) Lease Cost: Operating lease expense $ 6,622 $ 3,758 Short-term lease expense — 26 Finance Lease Cost: Amortization of right-of-use assets 100 103 Interest on lease liabilities 20 20 Total finance lease cost 120 123 Variable lease cost 4,654 4,185 Total lease cost $ 11,396 $ 8,092 The components of supplemental cash flow information related to leases for the period are as follows: Nine Months Ended September 30, 2022 2021 (In thousands, except term and rate data) Cash flow information: Operating cash flows for operating leases $ 7,980 $ 4,065 Operating cash flows for finance leases $ 20 $ 20 Financing cash flows for finance leases $ 132 $ 105 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations Operating leases $ 16,338 $ 501 Finance Leases $ 230 $ 19 Other Information: Weighted average remaining lease term: Operating leases (in years) 10.80 12.30 Finance leases (in years) 2.75 2.29 Weighted average discount rates: Operating leases 12.14 % 11.66 % Finance leases 11.26 % 8.22 % The supplemental balance sheet information related to leases for the period is as follows: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Operating leases Long-term right-of-use assets $ 49,324 $ 35,486 Short-term operating lease liabilities $ 3,190 $ 2,204 Long-term operating lease liabilities 56,856 39,965 Total operating lease liabilities $ 60,046 $ 42,169 Commitments The Company has certain non-cancelable operating leases primarily for its premises. These leases generally contain renewal options for periods ranging from 3 to 20 years and require the Company to pay all executory costs, such as maintenance and insurance. Certain lease arrangements have rent free periods or escalating payment provisions, and we recognize rent expense of such arrangements on a straight line basis. Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum finance lease payments as of September 30, 2022 are as follows: Operating Leases Finance Leases (In thousands) 2022 (for the remaining period) $ 2,106 $ 47 2023 8,676 170 2024 10,034 94 2025 10,190 64 2026 10,347 35 Thereafter 71,707 2 Total lease payments $ 113,060 $ 412 Less: Imputed interest/present value discount $ (53,014) $ (62) Present value of lease liabilities $ 60,046 $ 350
Leases	Leases On July 14, 2022, the Company entered into an agreement to lease 151,096 square feet of manufacturing and operations facilities in Mesa, Arizona consisting of two hangars ("Hangar C" and "Hangar B"). The lease has an initial term of approximately ten years and five months after the commencement date applicable to Hangar C or Hangar B, whichever is later, and is expected to commence ten months following the date of the agreement was entered into with respect to Hangar C and fifteen months following the date of the agreement was entered into for Hangar B. The average annual base rent under the lease is approximately $3.0 million. The Company has four options to extend the term of the lease, each for an additional five years. The Company's leases are more fully described in Note 8 of the "Notes to Consolidated Financial Statements" to its Annual Report on Form 10-K. The components of lease expense related to leases for the periods presented below are as follows: Three Months Ended 2022 2021 (Unaudited and in thousands) Lease Cost: Operating lease expense $ 2,553 $ 1,244 Short-term lease expense — 6 Finance Lease Cost: Amortization of right-of-use assets 42 34 Interest on lease liabilities 11 6 Total finance lease cost 53 40 Variable lease cost 1,760 1,475 Total lease cost $ 4,366 $ 2,765 Nine Months Ended 2022 2021 (Unaudited and in thousands) Lease Cost: Operating lease expense $ 6,622 $ 3,758 Short-term lease expense — 26 Finance Lease Cost: Amortization of right-of-use assets 100 103 Interest on lease liabilities 20 20 Total finance lease cost 120 123 Variable lease cost 4,654 4,185 Total lease cost $ 11,396 $ 8,092 The components of supplemental cash flow information related to leases for the period are as follows: Nine Months Ended September 30, 2022 2021 (In thousands, except term and rate data) Cash flow information: Operating cash flows for operating leases $ 7,980 $ 4,065 Operating cash flows for finance leases $ 20 $ 20 Financing cash flows for finance leases $ 132 $ 105 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations Operating leases $ 16,338 $ 501 Finance Leases $ 230 $ 19 Other Information: Weighted average remaining lease term: Operating leases (in years) 10.80 12.30 Finance leases (in years) 2.75 2.29 Weighted average discount rates: Operating leases 12.14 % 11.66 % Finance leases 11.26 % 8.22 % The supplemental balance sheet information related to leases for the period is as follows: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Operating leases Long-term right-of-use assets $ 49,324 $ 35,486 Short-term operating lease liabilities $ 3,190 $ 2,204 Long-term operating lease liabilities 56,856 39,965 Total operating lease liabilities $ 60,046 $ 42,169 Commitments The Company has certain non-cancelable operating leases primarily for its premises. These leases generally contain renewal options for periods ranging from 3 to 20 years and require the Company to pay all executory costs, such as maintenance and insurance. Certain lease arrangements have rent free periods or escalating payment provisions, and we recognize rent expense of such arrangements on a straight line basis. Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum finance lease payments as of September 30, 2022 are as follows: Operating Leases Finance Leases (In thousands) 2022 (for the remaining period) $ 2,106 $ 47 2023 8,676 170 2024 10,034 94 2025 10,190 64 2026 10,347 35 Thereafter 71,707 2 Total lease payments $ 113,060 $ 412 Less: Imputed interest/present value discount $ (53,014) $ (62) Present value of lease liabilities $ 60,046 $ 350

Accrued Expenses

Accrued Expenses	9 Months Ended
Accrued Expenses	Sep. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses A summary of the components of accrued liabilities are as follows: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Accrued payroll $ 8,331 $ 4,214 Accrued vacation 6,383 5,372 Accrued bonus 11,578 12,218 Accrued interest expense 1,771 — Accrued contract labor 7,869 1,147 Other accrued expenses 7,457 5,836 Total accrued expenses $ 43,389 $ 28,787

Commercial Loan

Commercial Loan	9 Months Ended
Commercial Loan	Sep. 30, 2022
Debt Disclosure [Abstract]
Commercial Loan	Commercial Loan As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Commercial loan $ — $ 310 Less: Current portion — (310) Non-current portion $ — $ — On June 18, 2020, we financed the purchase of software licenses through a loan totaling approximately $0.9 million. The loan amortized in three equal annual installments of approximately $0.3 million with the final payment due October 1, 2022 with 0% interest rate. The loan is secured by a standby letter of credit issued from our financial institution and restricted cash has been recorded for the corresponding outstanding balance. The outstanding balance is recorded in other current-liabilities on the C ondensed C onsolidated B alance S heets . The imputed interest of this loan was immaterial.

Convertible Senior Notes

Convertible Senior Notes	9 Months Ended
Convertible Senior Notes	Sep. 30, 2022
Convertible Debt [Abstract]
Convertible Senior Notes	Convertible Senior Notes 2027 Convertible Senior Notes On January 19, 2022, the Company completed an offering of $425 million aggregate principal amount of the 2027 Notes. The 2027 Notes are senior, unsecured obligations of the Company, and bear interest at a fixed rate of 2.50% per year. Interest is payable in cash semi-annually in arrears on February 1 and August 1 of each year, beginning on August 1, 2022. The 2027 Notes mature on February 1, 2027 unless earlier repurchased, redeemed or converted. The terms of the 2027 Notes are governed by an Indenture by and between the Company and U.S. Bank National Association, as Trustee (the "2027 Indenture"). Upon conversion by the noteholders, the 2027 Notes may be settled in cash, shares of the Company's common stock or a combination of cash and shares of common stock, par value $0.0001 per share (the “common stock”), at our election, based on the conversion rate. The 2027 Notes are convertible at an initial conversion rate of 78.1968 shares of common stock per $1,000 principal amount of the 2027 Notes, which is equal to an initial conversion price of approximately $12.79 per share of common stock, subject to adjustment upon the occurrence of certain events. Noteholders will have the right to convert their notes during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ending on June 30, 2022, under the following circumstances: • during any calendar quarter after June 30, 2022 (and only during such calendar quarter) if the last reported sale price of the Company's common stock for each of at least 20 trading days in a period of 30 consecutive trading days ending on and including the last trading day of the preceding calendar quarter is more than 130% of the then applicable conversion price for the Notes per share of common stock; • during the five consecutive business days immediately after any ten consecutive trading day period in which the trading price per $1,000 principal amount of 2027 Notes for each day of that period was less than 98% of the product of the last reported sale price of our common stock and the then applicable conversion rate; • the Company calls any or all of the 2027 Notes for redemption, holders may convert all or any portion of their notes at any time prior to the close of business on the scheduled trading day prior to the redemption date, even if the 2027 Notes are not otherwise convertible at such time; or • specified distributions to holders of our common stock are made or specified corporate events occur, as described in the 2027 Indenture. On and after November 1, 2026, noteholders will have the right to convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company will have the right to elect to settle conversions in cash, in shares of its common stock or in a combination of cash and shares of its common stock. During the three and nine months ended September 30, 2022, the conditions allowing holders of the 2027 Notes to convert were not met, and as a result, the 2027 Notes were classified as noncurrent liabilities as of September 30, 2022. The 2027 Notes will be redeemable, in whole or in part (subject to certain limitations), for cash at the Company's option at any time, and from time to time, on or after February 6, 2025 and on or before the 20th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of the Company's common stock exceeds 130% of the conversion price for a specified period of time and certain liquidity conditions have been satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. During the three and nine months ended September 30, 2022, the Company did not redeem any of the 2027 Notes. Holders of the 2027 Notes who convert their 2027 Notes in connection with certain corporate events that constitute a make-whole fundamental change (as defined in the 2027 Indenture) or in connection with the Company's issuance of a redemption notice are, under certain circumstances, entitled to an increase in the conversion rate. Additionally, in the event of a corporate event that constitutes a fundamental change (as defined in the 2027 Indenture), holders of the 2027 Notes may require the Company to repurchase all or a portion of their 2027 Notes at a price equal to the principal amount of the 2027 Notes being repurchased, plus any accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. The 2027 Notes, net consisted of the following (in thousands): As of September 30, 2022 (Unaudited) Principal $ 425,000 Less: unamortized debt issuance costs (9,812) Net carrying amount $ 415,188 As of September 30, 2022, we included $1.8 million of accrued interest expense on our 2027 Notes within accrued expenses. For the three months ended September 30, 2022, we recognized $3.2 million of total interest expense on our 2027 Notes, including $0.5 million of amortized debt issuance costs. For the nine months ended September 30, 2022, we recognized $8.9 million of total interest expense on our 2027 Notes, including $1.5 million of amortized debt issuance cost. Capped Call Transactions In connection with the pricing of the 2027 Notes, the Company entered into capped call transactions with respect to its common stock. The 2027 Capped Calls are purchased call options that give the Company the option to purchase, subject to anti-dilution adjustments substantially identical to those in the 2027 Notes, approximately 33 million shares of its common stock for approximately $12.79 per share (subject to adjustment), corresponding to the approximate initial conversion price of the 2027 Notes, exercisable upon conversion of the 2027 Notes. The 2027 Capped Calls have initial cap prices of $20.06 per share (subject to adjustment), which represents a premium of 100% over the closing price of the Company's common stock on January 13, 2022, and will expire in 2027, if not exercised earlier. The 2027 Capped Calls are intended to reduce potential dilution to the Company's common stock upon any conversion of the 2027 Notes and/or offset the potential cash payments that the Company could be required to make in excess of the principal amount upon any conversion of the 2027 Notes, as the case may be, with such reduction and/or offset subject to a cap, based on the cap price of the 2027 Capped Call transactions. The 2027 Capped Calls are separate transactions, each between the Company and the applicable option counterparty, and are not part of the terms of the 2027 Notes and will not affect any holder's rights under the 2027 Notes or the 2027 Indenture. Holders of the 2027 Notes will not have any rights with respect to the 2027 Capped Call transactions. The Company paid an aggregate amount of $52.3 million for the 2027 Capped Calls. As these transactions meet certain accounting criteria, the amount paid for the 2027 Capped Calls was recorded as a reduction to additional paid-in capital in the C ondensed C onsolidated B alance S heets . The fair value of the 2027 Capped Calls is not remeasured each reporting period so long as they continue to qualify for equity classification, which they did for the current period.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome tax expense was $21,000 and $25,000 for the three months ended September 30, 2022 and 2021, respectively. Income tax expense was $69,000 and $74,000 for the nine months ended September 30, 2022 and 2021, respectively. The effective income tax rate was nil for three and nine months ended September 30, 2022 and 2021. Our effective tax rate differs from the U.S. statutory rate primarily due to a substantially full valuation allowance against our net deferred tax assets where it is more likely than not that some or all of the deferred tax assets will not be realized.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity There have been no significant changes from the Stockholders' Equity disclosed in Note 12 of the “Stockholders Equity” included in our Annual Report on Form 10-K. Stockholders' Agreement In connection with the closing of the Virgin Galactic business combination in October 2019 (the "Business Combination"), the Company entered into a stockholders’ agreement with certain of the Company’s investors. Pursuant to the terms of the Stockholders’ Agreement, as long as VIL is entitled to designate two directors to the Company’s Board of Directors, the Company must obtain VIL’s prior written consent to engage in certain corporate transactions and management functions such as business combinations, disposals, acquisitions, incurring indebtedness, and engagement of professional advisors, among others. Warrants and Warrant Redemption Public and private placement warrants were initially issued as part of Social Capital Hedosophia Holdings Corp.'s ("SCH") initial public offering in 2017 and assumed upon the consumption of the Business Combination. As of September 30, 2022, and December 31, 2021, there were no public or private placement warrants outstanding. The Company remeasured the fair value of the Warrants at each reporting date with changes recorded in earnings. In connection with the Company's remeasurement of the Warrants to fair value, the Company recorded income of approximately $34.4 million for the three months ended September 30, 2021 and expense of $34.7 million for the nine months ended September 30, 2021. At The Market Offerings On July 12, 2021, the Company entered into a distribution agency agreement with Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC (each, an “Agent” and collectively, the “Agents”) providing for the offer and sale of up to $500.0 million of shares of the Company’s common stock, par value $0.0001 per share, through an "at the market offering" program ("ATM"), from time to time by the Company through the Agents, acting as the Company’s sales agents, or directly to one or more of the Agents, acting as principal. We completed available offerings under the 2021 ATM on July 16, 2021, generating $500.0 million in gross proceeds through the sale of 13,740,433 shares of the Company's common stock, before deducting $6.2 million in underwriting discounts, commissions and other expenses payable by the Company. On August 4, 2022, the Company entered into a distribution agency agreement with Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC providing for the offer and sale of up to $300.0 million of shares of the Company’s common stock, par value $0.0001 per share, through an ATM (the "2022 ATM program").

Net Loss Per Share

Net Loss Per Share	9 Months Ended
Net Loss Per Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table presents net loss per share and related information: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands, except for share and per share data) Numerator: Net loss attributable to common shareholders $ (145,554) $ (48,368) $ (349,332) $ (272,102) Less: revaluation of warrant liability — (34,432) — — Adjusted net loss (145,554) (82,800) (349,332) (272,102) Denominator: Weighted average shares of common stock outstanding 263,907,259 254,749,195 260,255,202 244,157,923 Add: dilutive effect of common stock issuable from assumed exercise of warrants — 398,033 — — Weighted average shares outstanding, diluted 263,907,259 255,147,228 260,255,202 244,157,923 Net loss per share: Basic $ (0.55) $ (0.19) $ (1.34) $ (1.11) Diluted $ (0.55) $ (0.32) $ (1.34) $ (1.11) Basic and diluted net loss per share was computed using the weighted-average number of common shares of common stock outstanding during the three and nine month periods ended September 30, 2022 and September 30, 2021. Basic net loss per share is the same as diluted net loss per share for the three and nine month periods ended September 30, 2022 and for the nine months ended September 30, 2021 as the inclusion of all potential common shares outstanding would have been anti-dilutive. For the three months ended September 30, 2021, the Company included the potential effect of the warrants to purchase shares of common stock as the effect would be dilutive. Diluted net loss per share for the three months ended September 30, 2021 was computed by dividing the net loss, adjusted for the revaluation of warrant liability for private warrants, by the weighted average number of common shares outstanding for the period, adjusted for the dilutive effect of shares of common stock equivalents resulting from the assumed exercise of the warrants. The treasury stock method was used to calculate the potential dilutive effect of these common stock equivalents for the three months ended September 30, 2021. Potentially dilutive securities that were not included in the diluted per share calculation for these periods, as they would have an anti-dilutive impact on net loss per share, are as follows (in thousands): As of September 30, 2022 2021 Issued and outstanding stock options 3,794 4,428 Issued and outstanding performance stock options 406 — Unvested restricted stock units issued and outstanding 4,502 3,442 Unvested performance stock units issued and outstanding 255 90 Shares related to the 2027 Notes (1) 33,234 — Warrants to purchase shares of common stock — 8,000 42,191 15,960

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company's 2019 Incentive Award Plan ("2019 Plan") is more fully described in Note 14 of the "Notes to Consolidated Financial Statements" on Form 10-K. Under the 2019 Plan, the Company has the ability to grant incentive stock options, non-qualified stock options and restricted stock units ("RSUs") to employees, directors and other service providers. Performance stock units ("PSUs") are RSUs that vest based on achievement of specified performance criteria. Performance stock options ("PSOs") are stock options that vest based on achievement of specified performance criteria. Stock Options Twenty five percent of such stock options cliff vest at the grant date first anniversary, with the remaining options vesting ratably over the following three years, subject to continued employment on each vesting date. Vested options will be exercisable at any time until ten years from the grant date, subject to earlier expiration under certain terminations of service and other conditions. The stock options granted have an exercise price equal to the closing stock price of our common stock on the grant date. In March 2022, we issued stock options as incentive compensation for certain key employees. The fair values of these stock options were estimated using a Black-Scholes model with the following assumptions: 2022 Expected life (in years) (1) 6.11 Expected volatility (2) 69.0 % Risk free interest rate (3) 2.19 % Dividend yield (4) — % (1) The expected life is the period of time that participants are expected to hold their options before exercised using the "simplified method" as described in Staff Accounting Bulletin No. 107. (2) The expected volatility is a measure of the amount by which a stock price is expected to fluctuate based primarily on our and our peers' historical data. (3) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (4) The Company does not currently pay dividends nor has announced plans to begin paying dividends. The following table sets forth the summary of options activity for the nine month ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Weighted Average Grant Date Fair Value ($) Options outstanding at December 31, 2021 4,253,767 $ 14.09 7.60 6,187 — Granted 303,030 7.99 4.95 Exercised (4,182) 11.79 Forfeited options (758,250) 18.96 Options outstanding at September 30, 2022 3,794,365 $ 13.91 6.74 — — Options exercisable at September 30, 2022 2,346,118 $ 13.96 6.14 — — (1) Aggregate intrinsic value is calculated based on the difference between our closing stock price at period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised all their options on the period end date. Performance Stock Options Compensation expense on the PSOs will be recognized over the period between the grant date and the estimated vest date. The number of PSOs that will vest depends on the attainment of certain stock price goals. Vested options will be exercisable at any time until ten years from the grant date, subject to earlier expiration under certain terminations of service and other conditions. The stock options granted have an exercise price equal to the closing stock price of our common stock on the grant date. In March 2022, we issued PSOs as incentive compensation for certain key employees. The fair values of these stock options were estimated using a Monte-Carlo simulation with the following assumptions: 2022 Expected exercise behavior (1) 75.0 % Expected Volatility (2) 58.0 % Risk free interest rate (3) 2.19 % Dividend yield (4) — % (1) PSOs are expected to be exercised after 75% of the period between the vest date and the end of the contractual term has lapsed. (2) The expected volatility is a measure of the amount by which a stock price is expected to fluctuate based primarily on our and our peers' historical data. (3) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (4) The Company does not currently pay dividends nor has announced plans to begin paying dividends. The following table sets forth the summary of PSO activity for the nine month ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Weighted Average Grant Date Fair Value ($) PSOs outstanding at December 31, 2021 — $ — 0.00 — Granted 405,680 8.99 4.93 Exercised — — Forfeited options — — PSOs outstanding at September 30, 2022 405,680 $ 8.99 9.47 — PSOs exercisable at s September 30, 2022 — $ — 0.00 — (1) Aggregate intrinsic value is calculated based on the difference between our closing stock price at period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised all their options on the period end date. Restricted Stock Units The RSUs vest over four years with 25% cliff vest at the first year anniversary of the grant date, with the remaining vesting ratably over the next three years. The following table sets forth the summary of RSUs activity for the nine months ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Shares Weighted Average Fair Value RSUs outstanding at December 31, 2021 2,396,732 $ 27.89 Granted 3,900,745 8.42 Vested (1,144,802) 20.20 Forfeited (650,533) 16.54 RSUs outstanding at September 30, 2022 4,502,142 $ 13.65 Performance Stock Units Between 25% and 200% of the PSUs are eligible to vest based on the achievement of certain performance-based goals or market-based goals by specified target dates, subject to continued service through the applicable vesting date. PSUs with performance-based goals are amortized over the requisite service period in which it is probable that the performance goal is achieved. PSUs with market-based goals will vest based on the Company's common stock performance following the end of the three year performance measurement period based on the highest closing price over twenty consecutive trading days during the performance measurement period. PSUs with market-based goals cannot vest before the end of the performance measurement period, thus the requisite service period is three years. In March 2022, we issued PSUs as incentive compensation for certain key employees. The fair values of these stock units were estimated using a Monte-Carlo simulation with the following assumptions: 2022 Expected volatility (1) 95.0 % Risk free interest rate (2) 2.13 % Dividend yield (3) — % (1) The expected volatility is a measure of the amount by which a stock price is expected to fluctuate based primarily on our and our peers' historical data. (2) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (3) The Company does not currently pay dividends nor has announced plans to begin paying dividends. The following table sets forth the summary of PSUs activity for the nine months ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Shares Weighted Average Fair Value PSUs outstanding at December 31, 2021 89,839 $ 26.47 Granted 277,552 14.62 Forfeited (112,518) 26.17 PSUs outstanding at September 30, 2022 254,873 $ 14.67 Stock-based compensation expense was recorded in the following expense categories in the C ondensed Consolidated Statements of Operations and Comprehensive Loss : Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Stock option and PSO expense Selling, general and administrative $ 2,113 $ 1,735 $ 6,022 $ 12,590 Research and development 596 776 2,020 2,445 Total stock option and PSO expense 2,710 2,511 8,042 15,035 RSU and PSU expense Selling, general and administrative 6,045 6,805 18,046 24,414 Research and development 2,756 2,853 8,400 9,255 Total RSU and PSU expense 8,800 9,658 26,446 33,669 Total stock-based compensation expense $ 11,510 $ 12,169 $ 34,488 $ 48,704

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. We estimate fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which is categorized in one of the following levels: • Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date; • Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability; and • Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The carrying amounts included in the Condensed Consolidated Balance Sheets under current assets and current liabilities approximate fair value because of the short maturity of these instruments. The following tables summarize the fair value of assets that are recorded in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021 at fair value on a recurring basis: Fair Value Measurements as of September 30, 2022 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market $ 386,578 $ — $ — $ 386,578 Certificate of deposit 41,777 — — 41,777 US treasuries 148,919 — — 148,919 Corporate debt securities — 526,866 — 526,866 Total assets at fair value $ 577,274 $ 526,866 $ — $ 1,104,140 Liabilities: 2027 Notes $ — $ — $ 238,451 $ 238,451 Total liabilities at fair value $ — $ — $ 238,451 $ 238,451 The estimated fair value of the 2027 Notes were determined based on the quoted bid prices of the 2027 Notes in an over-the-counter market on the last trading day of the reporting period. Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money Market $ 402,889 $ — $ — $ 402,889 Certificate of Deposit 91,549 — — 91,549 Corporate debt securities — 380,881 — 380,881 Total assets at fair value $ 494,438 $ 380,881 $ — $ 875,319

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings From time to time, the Company is a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. The Company applies accounting for contingencies to determine when and how much to accrue for and disclose related to legal and other contingencies. Accordingly, the Company discloses contingencies deemed to be reasonably possible and accrues loss contingencies when, in consultation with legal advisors, it is concluded that a loss is probable and reasonably estimable. Although the ultimate aggregate amount of monetary liability or financial impact with respect to these matters is subject to many uncertainties and is therefore not predictable with assurance, management believes that any monetary liability or financial impact to the Company from these matters, individually and in the aggregate, beyond that provided at September 30, 2022, would not be material to the Company’s financial position, results of operations or cash flows. However, there can be no assurance with respect to such result, and monetary liability or financial impact to the Company from legal proceedings, lawsuits and other claims could differ materially from those projected. Lavin v. the Company On May 28, 2021, a class action complaint was filed against us in the Eastern District of New York captioned Lavin v. Virgin Galactic Holdings, Inc., Case No. 1:21-cv-03070. In September 2021, the Court appointed Robert Scheele and Mark Kusnier as co-lead plaintiffs for the purported class. Co-lead plaintiffs amended the complaint in December 2021, asserting violations of Sections 10(b), 20(a) and 20A of the Exchange Act of 1934 against us and certain of our current and former officers and directors on behalf of a putative class of investors who purchased our common stock between July 10, 2019 and October 14, 2021. The amended complaint alleges, among other things, that we and certain of our current and former officers and directors made false and misleading statements and failed to disclose certain information regarding the safety of its ships and success of its commercial flight program. Co-lead plaintiffs seek damages, interest, costs, expenses, attorneys' fees, and other unspecified equitable relief. Defendants filed a motion to dismiss on April 4, 2022, and that motion is now fully briefed. The Company intends to vigorously defend against this matter. Spiteri, Grenier, and Laidlaw, derivatively on behalf of the Company vs. Certain Current and Former Officers and Directors On February 21, 2022, March 1, 2022, and September 21, 2022, three alleged shareholders filed separate derivative complaints purportedly on behalf of the Company against certain of our current and former officers and directors in the Eastern District of New York captioned Spiteri v. Branson et al., Case No. 1:22-cv-00933, Grenier v. Branson et al., Case No. 1:22-cv-01100, and Laidlaw v. Branson et al., Case No. 1:22-cv-05634, respectively. Collectively, the complaints assert violations of Sections 10(b), 14(a), and 21D of the Exchange Act of 1934 and claims of breach of fiduciary duty, aiding and abetting breach of fiduciary duty, abuse of control, gross mismanagement, waste of corporate assets, contribution and indemnification, and unjust enrichment arising from substantially similar allegations as those contained in the securities class action described above. The complaints seek an unspecified sum of damages, interest, restitution, expenses, attorneys’ fees and other equitable relief. The cases are at a preliminary stage.

Employee Benefit Plan

Employee Benefit Plan	9 Months Ended
Employee Benefit Plan	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan The Company has defined contribution plans, under which the Company pays fixed contributions into a separate entity, and additional contributions to the plans are based upon a percentage of the employees’ elected contributions. The Company will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognized within selling, general, and administrative expenses and research and development in the Condensed Consolidated Statements of Operations and Comprehensive Loss , as incurred. Defined contributions were $1.4 million and $1.5 million for the three months ended September 30, 2022 and 2021, respectively. Defined contributions were $4.0 million and $4.1 million for the nine months ended September 30, 2022 and 2021, respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
Supplemental Cash Flow Information	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Nine Months Ended September 30, 2022 2021 (in thousands) Supplemental disclosure Cash payments and refunds for: Income tax refund $ 56 $ — Income tax paid (90) (84) $ (34) $ (84) Schedule for noncash investing activities: Unpaid property, plant, and equipment received $ 1,356 $ 1,021 $ 1,356 $ 1,021 Schedule for noncash financing activities: Issuance of common stock "cashless" warrants exercised $ — $ 170,090 Issuance of common stock through restricted stock units vested 9,557 36,692 Commercial Loan (310) (310) $ 9,247 $ 206,472

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). All intercompany transactions and balances between the various legal entities comprising the Company have been eliminated in consolidation. Certain reclassifications of the components of operating loss for the three and nine month period ended September 30, 2021 have been made to the comparable prior period in the Condensed Consolidated Statements of Operations and Comprehensive Loss to conform to the same current period presentations. Specifically, cost of revenue has been reclassified to customer experience, and gross margin is no longer presented. Customer experience expenses related to spaceflight operations include the consumption of a rocket motor and fuel and other consumables, as well as payroll and benefits for our pilots and ground crew. Customer experience expenses related to the payload cargo services, as well as engineering services, consist of materials and human capital, such as payroll and benefits, to perform these services. Additionally, customer experience expenses include costs associated with maintaining and growing our Future Astronaut community through offerings provided to community members, as well as hospitality, medical, safety, security, training, and facility costs that are for the benefit of our future astronauts. Additionally, depreciation and amortization expense are presented separately instead of included in selling, general, and administrative or research and development expenses. These reclassifications had no impact on total loss as previously reported.
Use of Estimates	Use of EstimatesThe preparation of the consolidated financial statements in conformity with GAAP required us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base these estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates. Significant estimates inherent in the preparation of the consolidated financial statements include, but are not limited to, accounting for revenue, contract assets, contract liabilities, useful lives of property, plant and equipment, fair value of investments, accrued liabilities, income taxes including deferred tax assets and liabilities and impairment valuation, warrants, stock-based awards and contingencies.
Convertible Senior Notes	Convertible Senior Notes On January 1, 2022, the Company adopted ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , which removes from GAAP the liability and equity separation model for convertible instruments with either cash or beneficial conversion features. As a result, convertible debt instruments would only be separated into multiple components if they were issued at a substantial premium or if embedded derivatives requiring bifurcation were identified. The convertible senior notes (the "2027 Notes") were not issued at a substantial premium, and the Company analyzed the provisions of the notes and did not identify any material embedded features which would require bifurcation from the host debt. As such, the notes are accounted for entirely as a liability net of unamortized issuance costs. The carrying amount of the liability is classified as long-term as the instrument does not mature within one year of the balance sheet date and the holder is not permitted to demand repayment of the principal within one year of the balance sheet date. However, if conditions to convertibility are met as described further in Note 11
Capped Call Transactions	Capped Call Transactions In connection with the pricing of our 2027 Notes, the Company entered into capped call transactions with respect to its common stock (the "2027 Capped Calls"). The 2027 Capped Calls are purchased call options that give the Company the option to purchase shares of our common stock, subject to anti-dilution adjustments substantially identical to those in the 2027 Notes. The Company's capped call transactions are accounted for as separate transactions from the 2027 Notes and are classified as equity instruments as a reduction to additional paid-in capital in the Condensed Consolidated Balance Sheets. The instruments are initially recorded at fair value and not subsequently remeasured so long as they continue to qualify for equity classification based on the Company's intent and ability for the 2027 Capped Calls to be settled in shares of our common stock. The capped call transactions have the effect of reducing the number of shares outstanding if exercised. Therefore, the capped call transactions are anti-dilutive and not included in the calculation of diluted shares outstanding for the purposes of diluted net loss per share. See Note 11 for additional information on the 2027 Capped Calls.
Other Summary Of Significant Accounting Policies	Other Summary of Significant Accounting PoliciesThere have been no other significant changes from the significant accounting policies disclosed in Note 2 of the “Notes to Consolidated Financial Statements” included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the "Annual Report on Form 10-K").The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. The interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K. Interim results are not necessarily indicative of the results for a full year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASU”). See Note 2 for additional information on recently adopted accounting pronouncements.

Cash, Restricted Cash, Cash E_2

Cash, Restricted Cash, Cash Equivalents and Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Marketable Securities	The amortized cost, unrealized loss and estimated fair value of the Company's cash, cash equivalents, restricted cash, and marketable securities as of September 30, 2022 and December 31, 2021: As of September 30, 2022 Amortized Cost Gross Unrealized Losses Fair Value (In thousands) Cash, restricted cash and cash equivalents Cash and restricted cash $ 8,358 $ — $ 8,358 Money market 384,575 — 384,575 Certificate of deposits 41,427 — 41,427 Marketable securities US treasuries 149,102 (183) 148,919 Corporate debt securities 536,913 (10,047) 526,866 Total cash, cash equivalents, restricted cash and marketable securities $ 1,120,375 $ (10,230) $ 1,110,145 As of December 31, 2021 Amortized Cost Gross Unrealized Losses Fair Value (In thousands) Cash, restricted cash and cash equivalents Cash and restricted cash $ 55,592 $ — $ 55,592 Money market 402,889 — 402,889 Certificate of deposits 91,549 — 91,549 Marketable securities Corporate debt securities 382,884 (2,003) 380,881 Total cash, cash equivalents and marketable securities $ 932,914 $ (2,003) $ 930,911
Schedule of Contractual Maturities	The following table presents the contractual maturities of the Company's marketable securities as of September 30, 2022: As of September 30, 2022 Amortized Cost Estimated Fair Value (In thousands) Matures within one year $ 614,641 $ 606,713 Matures between one to two years 71,374 69,072 Total $ 686,015 $ 675,785

Inventory (Tables)

Inventory (Tables)	9 Months Ended
Inventory (Tables)	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	As of September 30, 2022 and December 31, 2021, inventory is comprised of the following: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Raw materials $ 13,267 $ 21,127 Spare parts 9,584 8,541 Total inventory $ 22,851 $ 29,668

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Tables)	9 Months Ended
Property, Plant, and Equipment, net (Tables)	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant, and Equipment	As of September 30, 2022 and December 31, 2021, property, plant, and equipment, net consisted of the following: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Land $ 1,302 $ — Buildings 9,118 9,117 Leasehold improvements 30,457 29,155 Aircraft 195 195 Machinery and equipment 35,670 37,002 IT software and equipment 28,911 23,523 Construction in progress 3,152 2,901 108,805 101,893 Less accumulated depreciation and amortization (59,931) (54,395) Property, plant, and equipment, net $ 48,874 $ 47,498 The following table sets forth the summary of depreciation and amortization expense for property, plant and equipment, net: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Unaudited and in thousands) Customer experience $ — $ — $ — $ — Selling, general, and administrative 1,819 1,592 5,085 4,774 Research and development 395 1,304 2,896 3,861 $ 2,214 $ 2,895 $ 7,981 $ 8,635

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2022
Leases [Abstract]
Summary of Lease Expense and Cash Flow Information	The components of lease expense related to leases for the periods presented below are as follows: Three Months Ended 2022 2021 (Unaudited and in thousands) Lease Cost: Operating lease expense $ 2,553 $ 1,244 Short-term lease expense — 6 Finance Lease Cost: Amortization of right-of-use assets 42 34 Interest on lease liabilities 11 6 Total finance lease cost 53 40 Variable lease cost 1,760 1,475 Total lease cost $ 4,366 $ 2,765 Nine Months Ended 2022 2021 (Unaudited and in thousands) Lease Cost: Operating lease expense $ 6,622 $ 3,758 Short-term lease expense — 26 Finance Lease Cost: Amortization of right-of-use assets 100 103 Interest on lease liabilities 20 20 Total finance lease cost 120 123 Variable lease cost 4,654 4,185 Total lease cost $ 11,396 $ 8,092 The components of supplemental cash flow information related to leases for the period are as follows: Nine Months Ended September 30, 2022 2021 (In thousands, except term and rate data) Cash flow information: Operating cash flows for operating leases $ 7,980 $ 4,065 Operating cash flows for finance leases $ 20 $ 20 Financing cash flows for finance leases $ 132 $ 105 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations Operating leases $ 16,338 $ 501 Finance Leases $ 230 $ 19 Other Information: Weighted average remaining lease term: Operating leases (in years) 10.80 12.30 Finance leases (in years) 2.75 2.29 Weighted average discount rates: Operating leases 12.14 % 11.66 % Finance leases 11.26 % 8.22 %
Summary of Balance Sheet Information	The supplemental balance sheet information related to leases for the period is as follows: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Operating leases Long-term right-of-use assets $ 49,324 $ 35,486 Short-term operating lease liabilities $ 3,190 $ 2,204 Long-term operating lease liabilities 56,856 39,965 Total operating lease liabilities $ 60,046 $ 42,169
Summary of Operating Lease Maturities	Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum finance lease payments as of September 30, 2022 are as follows: Operating Leases Finance Leases (In thousands) 2022 (for the remaining period) $ 2,106 $ 47 2023 8,676 170 2024 10,034 94 2025 10,190 64 2026 10,347 35 Thereafter 71,707 2 Total lease payments $ 113,060 $ 412 Less: Imputed interest/present value discount $ (53,014) $ (62) Present value of lease liabilities $ 60,046 $ 350
Summary of Finance Lease Maturities	Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum finance lease payments as of September 30, 2022 are as follows: Operating Leases Finance Leases (In thousands) 2022 (for the remaining period) $ 2,106 $ 47 2023 8,676 170 2024 10,034 94 2025 10,190 64 2026 10,347 35 Thereafter 71,707 2 Total lease payments $ 113,060 $ 412 Less: Imputed interest/present value discount $ (53,014) $ (62) Present value of lease liabilities $ 60,046 $ 350

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
Accrued Expenses (Tables)	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	A summary of the components of accrued liabilities are as follows: As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Accrued payroll $ 8,331 $ 4,214 Accrued vacation 6,383 5,372 Accrued bonus 11,578 12,218 Accrued interest expense 1,771 — Accrued contract labor 7,869 1,147 Other accrued expenses 7,457 5,836 Total accrued expenses $ 43,389 $ 28,787

Commercial Loan (Tables)

Commercial Loan (Tables)	9 Months Ended
Commercial Loan (Tables)	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of September 30, 2022 December 31, 2021 (Unaudited) (In thousands) Commercial loan $ — $ 310 Less: Current portion — (310) Non-current portion $ — $ —

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	9 Months Ended
Convertible Senior Notes (Tables)	Sep. 30, 2022
Convertible Debt [Abstract]
Convertible Debt	The 2027 Notes, net consisted of the following (in thousands): As of September 30, 2022 (Unaudited) Principal $ 425,000 Less: unamortized debt issuance costs (9,812) Net carrying amount $ 415,188

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
Net Loss Per Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share	The following table presents net loss per share and related information: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (In thousands, except for share and per share data) Numerator: Net loss attributable to common shareholders $ (145,554) $ (48,368) $ (349,332) $ (272,102) Less: revaluation of warrant liability — (34,432) — — Adjusted net loss (145,554) (82,800) (349,332) (272,102) Denominator: Weighted average shares of common stock outstanding 263,907,259 254,749,195 260,255,202 244,157,923 Add: dilutive effect of common stock issuable from assumed exercise of warrants — 398,033 — — Weighted average shares outstanding, diluted 263,907,259 255,147,228 260,255,202 244,157,923 Net loss per share: Basic $ (0.55) $ (0.19) $ (1.34) $ (1.11) Diluted $ (0.55) $ (0.32) $ (1.34) $ (1.11)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Potentially dilutive securities that were not included in the diluted per share calculation for these periods, as they would have an anti-dilutive impact on net loss per share, are as follows (in thousands): As of September 30, 2022 2021 Issued and outstanding stock options 3,794 4,428 Issued and outstanding performance stock options 406 — Unvested restricted stock units issued and outstanding 4,502 3,442 Unvested performance stock units issued and outstanding 255 90 Shares related to the 2027 Notes (1) 33,234 — Warrants to purchase shares of common stock — 8,000 42,191 15,960

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted Average Assumptions	The fair values of these stock options were estimated using a Black-Scholes model with the following assumptions: 2022 Expected life (in years) (1) 6.11 Expected volatility (2) 69.0 % Risk free interest rate (3) 2.19 % Dividend yield (4) — % (1) The expected life is the period of time that participants are expected to hold their options before exercised using the "simplified method" as described in Staff Accounting Bulletin No. 107. (2) The expected volatility is a measure of the amount by which a stock price is expected to fluctuate based primarily on our and our peers' historical data. (3) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. 2022 Expected exercise behavior (1) 75.0 % Expected Volatility (2) 58.0 % Risk free interest rate (3) 2.19 % Dividend yield (4) — % (1) PSOs are expected to be exercised after 75% of the period between the vest date and the end of the contractual term has lapsed. (2) The expected volatility is a measure of the amount by which a stock price is expected to fluctuate based primarily on our and our peers' historical data. (3) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (4) The Company does not currently pay dividends nor has announced plans to begin paying dividends. 2022 Expected volatility (1) 95.0 % Risk free interest rate (2) 2.13 % Dividend yield (3) — % (1) The expected volatility is a measure of the amount by which a stock price is expected to fluctuate based primarily on our and our peers' historical data. (2) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (3) The Company does not currently pay dividends nor has announced plans to begin paying dividends.
Schedule of Options Outstanding	The following table sets forth the summary of options activity for the nine month ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Weighted Average Grant Date Fair Value ($) Options outstanding at December 31, 2021 4,253,767 $ 14.09 7.60 6,187 — Granted 303,030 7.99 4.95 Exercised (4,182) 11.79 Forfeited options (758,250) 18.96 Options outstanding at September 30, 2022 3,794,365 $ 13.91 6.74 — — Options exercisable at September 30, 2022 2,346,118 $ 13.96 6.14 — — (1) Aggregate intrinsic value is calculated based on the difference between our closing stock price at period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised all their options on the period end date. The following table sets forth the summary of PSO activity for the nine month ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Weighted Average Grant Date Fair Value ($) PSOs outstanding at December 31, 2021 — $ — 0.00 — Granted 405,680 8.99 4.93 Exercised — — Forfeited options — — PSOs outstanding at September 30, 2022 405,680 $ 8.99 9.47 — PSOs exercisable at s September 30, 2022 — $ — 0.00 — (1) Aggregate intrinsic value is calculated based on the difference between our closing stock price at period end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised all their options on the period end date.
Schedule of Restricted Stock Units Activity	The following table sets forth the summary of RSUs activity for the nine months ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Shares Weighted Average Fair Value RSUs outstanding at December 31, 2021 2,396,732 $ 27.89 Granted 3,900,745 8.42 Vested (1,144,802) 20.20 Forfeited (650,533) 16.54 RSUs outstanding at September 30, 2022 4,502,142 $ 13.65
Schedule of Performance Stock Unit Activity	The following table sets forth the summary of PSUs activity for the nine months ended September 30, 2022 under the 2019 Plan (dollars in thousands, except per share data): Shares Weighted Average Fair Value PSUs outstanding at December 31, 2021 89,839 $ 26.47 Granted 277,552 14.62 Forfeited (112,518) 26.17 PSUs outstanding at September 30, 2022 254,873 $ 14.67
Summary of Stock Option and RSU Expense	Stock-based compensation expense was recorded in the following expense categories in the C ondensed Consolidated Statements of Operations and Comprehensive Loss : Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in thousands) Stock option and PSO expense Selling, general and administrative $ 2,113 $ 1,735 $ 6,022 $ 12,590 Research and development 596 776 2,020 2,445 Total stock option and PSO expense 2,710 2,511 8,042 15,035 RSU and PSU expense Selling, general and administrative 6,045 6,805 18,046 24,414 Research and development 2,756 2,853 8,400 9,255 Total RSU and PSU expense 8,800 9,658 26,446 33,669 Total stock-based compensation expense $ 11,510 $ 12,169 $ 34,488 $ 48,704

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured on Recurring Basis	The following tables summarize the fair value of assets that are recorded in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021 at fair value on a recurring basis: Fair Value Measurements as of September 30, 2022 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market $ 386,578 $ — $ — $ 386,578 Certificate of deposit 41,777 — — 41,777 US treasuries 148,919 — — 148,919 Corporate debt securities — 526,866 — 526,866 Total assets at fair value $ 577,274 $ 526,866 $ — $ 1,104,140 Liabilities: 2027 Notes $ — $ — $ 238,451 $ 238,451 Total liabilities at fair value $ — $ — $ 238,451 $ 238,451 The estimated fair value of the 2027 Notes were determined based on the quoted bid prices of the 2027 Notes in an over-the-counter market on the last trading day of the reporting period. Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money Market $ 402,889 $ — $ — $ 402,889 Certificate of Deposit 91,549 — — 91,549 Corporate debt securities — 380,881 — 380,881 Total assets at fair value $ 494,438 $ 380,881 $ — $ 875,319

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
Supplemental Cash Flow Information (Tables)	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Nine Months Ended September 30, 2022 2021 (in thousands) Supplemental disclosure Cash payments and refunds for: Income tax refund $ 56 $ — Income tax paid (90) (84) $ (34) $ (84) Schedule for noncash investing activities: Unpaid property, plant, and equipment received $ 1,356 $ 1,021 $ 1,356 $ 1,021 Schedule for noncash financing activities: Issuance of common stock "cashless" warrants exercised $ — $ 170,090 Issuance of common stock through restricted stock units vested 9,557 36,692 Commercial Loan (310) (310) $ 9,247 $ 206,472

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Royalty payable, as a percentage of revenue	1%		1%
Royalty payable, quarterly amount	$ 40		$ 40
Sponsorship royalties payable, as a percentage of revenue	25%		25%
Affiliated Entity \| License and royalty fees
Related Party Transaction [Line Items]
Expenses from related party	$ 40	$ 390	$ 120	$ 470
Subsidiary of Common Parent
Related Party Transaction [Line Items]
Related party receivable	32		32		$ 43
Subsidiary of Common Parent \| Allocation of corporate expenses
Related Party Transaction [Line Items]
Transaction amounts from related party	$ 46	$ 33	$ 80	$ 104

Cash, Restricted Cash, Cash E_3

Cash, Restricted Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash, restricted cash and cash equivalents, amortized cost	$ 434,360	$ 720,643	$ 434,360	$ 720,643	$ 550,030	$ 678,955
Marketable securities amortized cost	686,015		686,015
Total cash, cash equivalents, restricted cash and marketable securities, amortized cost	1,120,375		1,120,375
Gross Unrealized Losses	(10,230)		(10,230)
Marketable securities, fair value	675,785		675,785
Total assets at fair value	1,110,145		1,110,145
Other non-current assets	55,220		55,220		41,281
Restricted cash and cash equivalents	40,328	18,078	40,328	18,078	25,549
Interest receivable	3,200		3,200		2,300
Amortization expense for marketable securities	1,500	300	5,500	300
Material gross realized gains and losses	(200)	$ 0	(300)	$ 0
US treasuries
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Marketable securities amortized cost	149,102		149,102		382,884
Gross Unrealized Losses	(183)		(183)		(2,003)
Marketable securities, fair value	148,919		148,919		380,881
Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Marketable securities amortized cost	536,913		536,913
Total cash, cash equivalents, restricted cash and marketable securities, amortized cost					932,914
Gross Unrealized Losses	(10,047)		(10,047)		(2,003)
Marketable securities, fair value	526,866		526,866
Total assets at fair value					930,911
Cash and restricted cash
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash, restricted cash and cash equivalents, amortized cost	8,358		8,358		55,592
Cash and cash equivalents, fair value	8,358		8,358		55,592
Money market
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash, restricted cash and cash equivalents, amortized cost	384,575		384,575		402,889
Cash and cash equivalents, fair value	384,575		384,575		402,889
Restricted cash and cash equivalents	39,800		39,800		1,000
Certificate of deposit
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash, restricted cash and cash equivalents, amortized cost	41,427		41,427		91,549
Cash and cash equivalents, fair value	$ 41,427		$ 41,427		$ 91,549

Cash, Restricted Cash, Cash E_4

Cash, Restricted Cash, Cash Equivalents and Marketable Securities - Contractual Maturities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Amortized Cost
Matures within one year	$ 614,641
Matures between one to two years	71,374
Total	686,015
Estimated Fair Value
Matures within one year	606,713
Matures between one to two years	69,072
Total	$ 675,785

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 13,267	$ 21,127
Spare parts	9,584	8,541
Total inventory	$ 22,851	$ 29,668

Inventory (Narrative) (Details)

Inventory (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Inventory (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory write-down	$ 2.2	$ 0.2	$ 3.3	$ 0.4

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net (Schedule of Property, Plant, and Equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 108,805	$ 101,893
Less accumulated depreciation and amortization	(59,931)	(54,395)
Property, plant, and equipment, net	48,874	47,498
Land
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	1,302	0
Buildings
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	9,118	9,117
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	30,457	29,155
Aircraft
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	195	195
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	35,670	37,002
IT software and equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	28,911	23,523
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 3,152	$ 2,901

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, net (Depreciation and Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation, amortization and impairment	$ 2,214	$ 2,895	$ 7,981	$ 8,635
Customer experience
Property, Plant and Equipment [Line Items]
Depreciation, amortization and impairment	0	0	0	0
Selling, general, and administrative
Property, Plant and Equipment [Line Items]
Depreciation, amortization and impairment	1,819	1,304	5,085	3,861
Research and development
Property, Plant and Equipment [Line Items]
Depreciation, amortization and impairment	$ 395	$ 1,592	$ 2,896	$ 4,774

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Millions	Jul. 14, 2022 USD ($) ft² hangar lease_option	Sep. 30, 2022
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, renewal term (in years)		3 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, renewal term (in years)		20 years
Arizona
Lessee, Lease, Description [Line Items]
Area of real estate property \| ft²	151,096
Number of real estate property \| hangar	2
Initial term (in years)	10 years
Operating lease expense, annual \| $	$ 3
Number of lease option \| lease_option	4
Operating lease, renewal term (in years)	5 years
Arizona \| Hangar C
Lessee, Lease, Description [Line Items]
Term before lease is commenced	10 months
Arizona \| Hangar B
Lessee, Lease, Description [Line Items]
Term before lease is commenced	15 months

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases (Lease Cost) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease expense	$ 2,553	$ 1,244	$ 6,622	$ 3,758
Short-term lease expense	0	6	0	26
Finance Lease Cost:
Amortization of right-of-use assets	42	34	100	103
Interest on lease liabilities	11	6	20	20
Total finance lease cost	53	40	120	123
Variable lease cost	1,760	1,475	4,654	4,185
Total lease cost	$ 4,366	$ 2,765	$ 11,396	$ 8,092

Leases (Cash Flow Information)

Leases (Cash Flow Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flow information:
Operating cash flows for operating leases	$ 7,980	$ 4,065
Operating cash flows for finance leases	20	20
Financing cash flows for finance leases	132	105
Right-of-use assets obtained in exchange for lease obligations
Operating leases	16,338	501
Finance Leases	$ 230	$ 19
Weighted average remaining lease term:
Operating leases (in years)	10 years 9 months 18 days	12 years 3 months 18 days
Finance leases (in years)	2 years 9 months	2 years 3 months 14 days
Weighted average discount rates:
Operating leases	12.14%	11.66%
Finance leases	11.26%	8.22%

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Long-term right-of-use assets	$ 49,324	$ 35,486
Short-term operating lease liabilities	3,190	2,204
Long-term operating lease liabilities	56,856	39,965
Total operating lease liabilities	$ 60,046	$ 42,169

Leases (Lease Maturities) (Deta

Leases (Lease Maturities) (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Operating Leases
2022 (for the remaining period)	$ 2,106
2023	8,676
2024	10,034
2025	10,190
2026	10,347
Thereafter	71,707
Total lease payments	113,060
Imputed interest/present value discount	(53,014)
Present value of lease liabilities	60,046
Finance Leases
2022 (for the remaining period)	47
2023	170
2024	94
2025	64
2026	35
Thereafter	2
Total lease payments	412
Imputed interest/present value discount	(62)
Present value of lease liabilities	$ 350

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued payroll	$ 8,331	$ 4,214
Accrued vacation	6,383	5,372
Accrued bonus	11,578	12,218
Accrued interest expense	1,771	0
Accrued contract labor	7,869	1,147
Other accrued expenses	7,457	5,836
Total accrued expenses	$ 43,389	$ 28,787

Commercial Loan (Schedule of De

Commercial Loan (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Jun. 18, 2020
Debt Instrument [Line Items]
Less: Current portion	$ 0	$ (310)
Non-current portion	0	0
Commercial loan \| Commercial loan
Debt Instrument [Line Items]
Total debt	$ 0	$ 310	$ 900

Commercial Loan (Narrative) (De

Commercial Loan (Narrative) (Details) - Commercial loan - Commercial loan $ in Thousands	27 Months Ended
	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 18, 2020 USD ($) installment
Debt Instrument [Line Items]
Commercial loan	$ 0	$ 310	$ 900
Number of installments \| installment			3
Annual payment	$ 300
Interest rate			0%

Convertible Senior Notes - Narr

Convertible Senior Notes - Narrative (Details) $ / shares in Units, shares in Millions		3 Months Ended		9 Months Ended
	Jan. 19, 2022 USD ($) day $ / shares shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 $ / shares
Line of Credit Facility [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Interest expense		$ 3,293,000	$ 6,000	$ 8,924,000	$ 19,000
Amortization of debt issuance costs				1,466,000	$ 0
Call Option
Line of Credit Facility [Line Items]
Capped call option to purchase common shares (in shares) \| shares	33
Call option price per share (in dollars per share) \| $ / shares	$ 12.79
Derivative, cap price (in dollars per share) \| $ / shares	$ 20.06
Premium over share price, percentage	100%
Derivative, notional amount	$ 52,300,000
2027 Notes \| Convertible Debt
Line of Credit Facility [Line Items]
Principal amount	$ 425,000,000
Interest rate	2.50%
Conversion ratio	0.0781968
Conversion price (in dollars per share) \| $ / shares	$ 12.79
Debt instrument, convertible, threshold trading days \| day	20
Threshold percentage of stock price trigger	130%
Accrued interest expense		1,800,000		1,800,000
Interest expense		3,200,000		8,900,000
Amortization of debt issuance costs		$ 500,000		$ 1,500,000
2027 Notes \| Convertible Debt \| Debt Conversion Option One
Line of Credit Facility [Line Items]
Debt instrument, convertible, threshold trading days \| day	20
Debt instrument, convertible, threshold consecutive trading days \| day	30
Threshold percentage of stock price trigger	130%
2027 Notes \| Convertible Debt \| Debt Conversion Option Two
Line of Credit Facility [Line Items]
Debt instrument, convertible, threshold trading days \| day	5
Debt instrument, convertible, threshold consecutive trading days \| day	10
Threshold percentage of stock price trigger	98%

Convertible Senior Notes - 2027

Convertible Senior Notes - 2027 Notes (Details) - 2027 Notes - Convertible Debt $ in Thousands	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Principal	$ 425,000
Less: unamortized debt issuance costs	(9,812)
Total debt	$ 415,188

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 21	$ 25	$ 69	$ 74
Effective income tax rate	0%	0%	0%	0%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		9 Months Ended
	Aug. 04, 2022	Jul. 16, 2021	Jul. 12, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jan. 19, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Change in fair value of warrants				$ 0	$ 34,432	$ 0	$ (34,650)
Common stock, par value (in dollars per share)				$ 0.0001		$ 0.0001		$ 0.0001	$ 0.0001
Proceeds from issuance of common stock						$ 99,573	500,000
Stock issuance costs						1,137	$ 6,753
At The Market Offering
Class of Warrant or Right [Line Items]
Stock sold, aggregate consideration	$ 300,000		$ 500,000
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Proceeds from issuance of common stock		$ 500,000				99,600
Stock issuance costs		$ 6,200				$ 1,200
Stock sold (in shares)		13,740,433				15,587,600
Public Warrant
Class of Warrant or Right [Line Items]
Outstanding warrants (in shares)				0		0			0

Net Loss Per Share (Schedule of

Net Loss Per Share (Schedule of Net Loss Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss attributable to common shareholders	$ (145,554)	$ (48,368)	$ (349,332)	$ (272,102)
Less: revaluation of warrant liability	0	(34,432)	0	0
Adjusted net loss	$ (145,554)	$ (82,800)	$ (349,332)	$ (272,102)
Weighted average common shares outstanding - basic (in shares)	263,907,259	254,749,195	260,255,202	244,157,923
Add: dilutive effect of common stock issuable from assumed exercise of warrants (in shares)	0	398,033	0	0
Weighted average common share outstanding - diluted (in shares)	263,907,259	255,147,228	260,255,202	244,157,923
Basic net loss per share (in dollars per share)	$ (0.55)	$ (0.19)	$ (1.34)	$ (1.11)
Diluted net loss per share (in dollars per share)	$ (0.55)	$ (0.32)	$ (1.34)	$ (1.11)

Net Loss Per Share - Anti-dilut

Net Loss Per Share - Anti-dilutive (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	42,191	15,960
Stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	3,794	4,428
Performance stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	406	0
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	4,502	3,442
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	255	90
Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	33,234	0
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential effect of warrants to purchase stock (in shares)	0	8,000

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) $ in Millions	1 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022 USD ($) day
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25%
Unrecognized stock-based compensation expense		$ 12.5
Unrecognized compensation cost, period for recognition		2 years
Stock option \| 2019 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Performance stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		10 years
Vesting percentage	75%
Unrecognized stock-based compensation expense		$ 0.7
Unrecognized compensation cost, period for recognition		8 months 12 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Unrecognized compensation cost, period for recognition		2 years 7 months 6 days
Unrecognized stock-based compensation expense, excluding options		$ 76.7
Restricted stock units \| Tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25%
Restricted stock units \| Tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25%
Restricted stock units \| Tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25%
Restricted stock units \| Tranche four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25%
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Consecutive trading days \| day		20
Unrecognized compensation cost, period for recognition		2 years 6 months
Unrecognized stock-based compensation expense, excluding options		$ 3.1
Performance stock units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25%
Performance stock units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		200%

Stock-Based Compensation (Valua

Stock-Based Compensation (Valuation Assumptions) (Details)	1 Months Ended	9 Months Ended
Stock-Based Compensation (Valuation Assumptions) (Details)	Mar. 31, 2022	Sep. 30, 2022
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	6 years 1 month 9 days
Expected volatility	69%
Risk free interest rate	2.19%
Dividend yield	0%
Vesting percentage		25%
Performance stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected exercise behavior	75%
Expected volatility	58%
Risk free interest rate	2.19%
Dividend yield	0%
Vesting percentage	75%
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	95%
Risk free interest rate	2.13%
Dividend yield	0%

Stock-Based Compensation (2019

Stock-Based Compensation (2019 Stock Plan Activity) (Details) - 2019 Stock Plan - Stock option - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Number of Shares
Beginning balance (in shares)	4,253,767
Granted (in shares)	303,030
Exercised (in shares)	(4,182)
Forfeited options (in shares)	(758,250)
Ending balance (in shares)	3,794,365	4,253,767
Options exercisable (in shares)	2,346,118
Weighted Average Exercise Price
Weighted-average exercise price, beginning (in dollars per share)	$ 14.09
Granted (in dollars per share)	7.99
Exercised (in dollars per share)	11.79
Forfeited options (in dollars per share)	18.96
Weighted-average exercise price, ending (in dollars per share)	13.91	$ 14.09
Options exercisable (in dollars per share)	$ 13.96
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding, weighted average contractual term	6 years 8 months 26 days	7 years 7 months 6 days
Options exercisable, weighted average contractual term	6 years 1 month 20 days
Options outstanding, aggregate intrinsic value	$ 0	$ 6,187
Options exercisable, aggregate intrinsic value	$ 0
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 4.95

Stock-Based Compensation (PSO A

Stock-Based Compensation (PSO Activity) (Details) - Performance stock options - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Number of Shares
Beginning balance (in shares)	0
Granted (in shares)	405,680
Exercised (in shares)	0
Forfeited options (in shares)	0
Ending balance (in shares)	405,680	0
PSOs exercisable (in shares)	0
Weighted Average Exercise Price
Weighted-average exercise price, beginning (in dollars per share)	$ 0
Granted (in dollars per share)	8.99
Exercised (in dollars per share)	0
Forfeited options (in dollars per share)	0
Weighted-average exercise price, ending (in dollars per share)	8.99	$ 0
PSOs exercisable (in dollars per share)	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual term	9 years 5 months 19 days	0 years
PSOs exercisable, weighted average contractual term	0 years
PSOs outstanding, aggregate intrinsic value	$ 0	$ 0
PSOs exercisable, aggregate intrinsic value	$ 0
Weighted Average Grant Date Fair Value
Granted (in dollars per share)	$ 4.93

Stock-Based Compensation (RSU A

Stock-Based Compensation (RSU Activity) (Details) - Restricted stock units	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Outstanding, beginning balance (in shares) \| shares	2,396,732
Granted (in shares) \| shares	3,900,745
Vested (in shares) \| shares	(1,144,802)
Forfeited (in shares) \| shares	(650,533)
Outstanding, ending balance (in shares) \| shares	4,502,142
Weighted Average Fair Value
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 27.89
Granted (in dollars per share) \| $ / shares	8.42
Vested (in dollars per share) \| $ / shares	20.20
Forfeited (in dollars per share) \| $ / shares	16.54
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 13.65

Stock-Based Compensation (PSU A

Stock-Based Compensation (PSU Activity) (Details) - Performance stock units	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Outstanding, beginning balance (in shares) \| shares	89,839
Granted (in shares) \| shares	277,552
Forfeited (in shares) \| shares	(112,518)
Outstanding, ending balance (in shares) \| shares	254,873
Weighted Average Fair Value
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 26.47
Granted (in dollars per share) \| $ / shares	14.62
Forfeited (in dollars per share) \| $ / shares	26.17
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 14.67

Stock-Based Compensation (Compe

Stock-Based Compensation (Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 11,510	$ 12,169	$ 34,488	$ 48,704
Stock option
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	2,710	2,511	8,042	15,035
Stock option \| Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	2,113	1,735	6,022	12,590
Stock option \| Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	596	776	2,020	2,445
RSU and PSU
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	8,800	9,658	26,446	33,669
RSU and PSU \| Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	6,045	6,805	18,046	24,414
RSU and PSU \| Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 2,756	$ 2,853	$ 8,400	$ 9,255

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Values) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	$ 675,785
Total assets at fair value	1,110,145
US treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	148,919	$ 380,881
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	526,866
Total assets at fair value		930,911
Money market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	384,575	402,889
Certificate of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	41,427	91,549
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	1,104,140	875,319
Total liabilities at fair value	238,451
Fair Value, Recurring \| 2027 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2027 Notes	238,451
Fair Value, Recurring \| US treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	148,919
Fair Value, Recurring \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	526,866
Fair Value, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	577,274	494,438
Total liabilities at fair value	0
Fair Value, Recurring \| Level 1 \| 2027 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2027 Notes	0
Fair Value, Recurring \| Level 1 \| US treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	148,919
Fair Value, Recurring \| Level 1 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	0
Fair Value, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	526,866	380,881
Total liabilities at fair value	0
Fair Value, Recurring \| Level 2 \| 2027 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2027 Notes	0
Fair Value, Recurring \| Level 2 \| US treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	0
Fair Value, Recurring \| Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	526,866
Fair Value, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	0	0
Total liabilities at fair value	238,451
Fair Value, Recurring \| Level 3 \| 2027 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
2027 Notes	238,451
Fair Value, Recurring \| Level 3 \| US treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	0
Fair Value, Recurring \| Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, fair value	0
Fair Value, Recurring \| Money market
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	386,578	402,889
Fair Value, Recurring \| Money market \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	386,578	402,889
Fair Value, Recurring \| Money market \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	0	0
Fair Value, Recurring \| Money market \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	0	0
Fair Value, Recurring \| Certificate of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	41,777	91,549
Fair Value, Recurring \| Certificate of deposit \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	41,777	91,549
Fair Value, Recurring \| Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	0	0
Fair Value, Recurring \| Certificate of deposit \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value	$ 0	0
Fair Value, Recurring \| Cash equivalents \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		380,881
Fair Value, Recurring \| Cash equivalents \| Level 1 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		0
Fair Value, Recurring \| Cash equivalents \| Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		380,881
Fair Value, Recurring \| Cash equivalents \| Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value		$ 0

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	Sep. 21, 2022 shareholder
Commitments and Contingencies Disclosure [Abstract]
Number of shareholders	3

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Defined contributions	$ 1.4	$ 1.5	$ 4	$ 4.1

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash payments and refunds for:
Income tax refund	$ 56	$ 0
Income tax paid	(90)	(84)
Income tax paid, net	(34)	(84)
Schedule for noncash investing activities:
Unpaid property, plant, and equipment received	1,356	1,021
Schedule for noncash financing activities:
Issuance of common stock "cashless" warrants exercised	0	170,090
Issuance of common stock through restricted stock units vested	9,557	36,692
Commercial Loan	(310)	(310)
Noncash financing activities	$ 9,247	$ 206,472