The company said it expects to raise capacity to 150 spaceflights a year by the end of 2028. It has begun booking a limited tranche of Spaceflight Expeditions at $850,000 per seat.

Virgin Galactic said in October that commercial spaceflights were expected to start in the second quarter of 2027. The company had previously pushed back its target to February 2027 from the fourth quarter of 2026.

In a securities filing Thursday, Virgin Galactic said it intended to exchange stock for 2.5% convertible senior notes due 2027. It also disclosed an open market sale agreement that could allow it to sell up to $250 million of stock, describing the measures as “part of a comprehensive plan to support its operations and growth initiatives.” A filing Friday said the company had reached an agreement with a noteholder for a $12.5 million exchange.

Third-quarter revenue was $427,000, compared with $365,000 a year earlier, the company reported Thursday afternoon. Its loss narrowed to 39 cents a share from $1.09 a share a year earlier.