Even before Monday’s launch failure, Virgin Orbit’s finances were dismal

Enlarge / Virgin Orbit was founded by Sir Richard Branson. (credit: Virgin Orbit)

On Monday night Virgin Orbit's attempt to launch a rocket from the United Kingdom failed after a problem with the rocket's second-stage engine.

The US-based launch company did not provide any additional details about the cause of the accident, which led to the loss of nine small satellites on board. In the wake of the failure, officials sought to put a brave face on the mission's outcome and Virgin Orbit's future.

"We will work tirelessly to understand the nature of the failure, make corrective actions, and return to orbit as soon as we have completed a full investigation and mission assurance process," said Dan Hart, Virgin Orbit's chief executive officer, in a prepared statement.

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