Virgin Galactic Holdings, Inc.

Good afternoon. My name is Jason, and I will be your conference operator today. At this time, I would like to welcome everyone to Virgin Galactic's second quarter 2020 earnings conference call. All lines have been placed on mute to prevent any background noise. Hosting today's conference call will be Michelle Cly, Executive Vice President, General Counsel, and Secretary at Virgin Galactic. As a reminder, today's call is being recorded. I would now like to turn the conference over to Ms. Cly. Please go ahead.

Thank you and good afternoon, everyone. Welcome to Virgin Galactic's second quarter 2020 earnings conference call. On the call with me today are Michael Colglazier, Chief Executive Officer, George Whiteside, Chief Space Officer, and John Campagna, Chief Financial Officer, who will provide prepared remarks. Earlier today, we issued a press release and made a slide presentation available on our Investor Relations website, which provides an overview of our business and financial highlights for the second quarter 2020. During today's call, we will make certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions, and as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward looking statements in this communication. For more information about factors that may cause actual results to materially differ from forward looking statements, please refer to the earnings press release we issued today and other documents filed by Virgin Galactic from time to time with the Securities and Exchange Commission, including our Form 10-Q for the second quarter of 2020. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements. As I'm sure most of you have seen, today we filed a registration statement on Form S-1 for a proposed underwritten offering of Virgin Galactic stock. Given securities law restrictions around the public offering, we will not be hosting a Q&A on today's call, but we will resume our normal Q&A structure on our Q3 earnings call. With that, I'd like to turn over the call to Michael Colglazier.

Thank you, Michelle, and good afternoon, everyone. I'd like to start by thanking each of you for joining us today. I hope that you and your loved ones are continuing to stay healthy and safe. Today marks the start of my third week at Virgin Galactic. Over the past two weeks, I've been focused on meeting our team and getting up to speed on the primary efforts taking place within the company. I knew this would be the case, but my excitement and my passion about joining this talented team continues to grow each day. I've joined Virgin Galactic from the Walt Disney Company, where I gained over three decades of experience developing and growing consumer oriented businesses. Although clearly different companies, Virgin Galactic and Disney Parks have similarities in many respects. Both companies share a central focus on safety. This is built into the engineering, operations, processes, and culture here at Virgin Galactic, and this is something I'm very familiar with from my time at Disney. And like Disney, Virgin Galactic will provide amazing, transformational customer experiences. It's the core of what we're offering at Virgin Galactic, and I look forward to working with our team as we proceed with momentum towards commercial service. My priority for this initial onboarding period Thanks, Michael. Before I begin, I just wanted to say that we feel tremendously privileged that Michael has joined the company.