Virgin Orbit builds and operates one of the most flexible and responsive satellite launchers ever invented: LauncherOne, a dedicated launch service for commercial and government-built small satellites. LauncherOne rockets are designed and manufactured in Long Beach, California, and are air-launched from a modified 747-400 carrier aircraft, Cosmic Girl, which allows Virgin Orbit to operate from locations all over the world in order to best serve each customer’s needs.

In just a span of four years since its creation in 2017, Virgin Orbit has developed a proprietary air-launch technology, coupled with world-class manufacturing infrastructure and a proven team to transform space access for a diverse and global customer base.

Hippo (HIPO: $3.99) suffered another hit following the release of its first results as a public company last week. The company's share price dropped by 15% despite the firm's announcement that it had crossed $500 million in total generated premium in force in Q2 of 2021 and year-one customer retention grew to 88%. The home insurer saw its total amount of generated premium increase by 101% to $159 million. However, of the $501 million generated, only $21 million was ultimately reported as revenue. The company's Gross Loss Ratio in the second quarter of 2021 was 161% compared to 106% in Q2 of 2020, far from the 60% it said it was targeting when it went public.

Hippo explained that severe hail storms in parts of Texas, where 19% of the company's clients are located, hurt its bottom line with Q2 residential cat losses in Texas being the third-highest reported in the past 24 years.

That also contributed to a Net Loss of $84.5 million in the quarter compared to just $24.8 million over Q2 of 2020. This also led to an Adjusted EBITDA Loss of $42.3 million in Q2, an increase of $23.5 million compared to last year. That was also partially the result of a jump in the company's operating expenses, which increased 54% from the prior year to $47 million. Headcount growth contributed to increases in all major categories, with Hippo now employing 603 people, up 117% from 278 last year.

Wand, nevertheless, remains extremely optimistic. “We will drive growth and focus on bottom-line metrics as we grow. We will carefully deploy the more than $900 million that we have on our balance sheet, to enhance our product offering and our growth, in order to become a leader in this industry,” said Wand during last week’s earnings conference call. “Home insurance is a vast, $110 billion industry, and we, at Hippo, have now crossed the $500 million mark. While this is a great milestone for the company… We are just beginning.”