SpaceX first earnings report after IPO

SpaceX, led by Elon Musk, reported its first quarterly earnings as a public company on August 4, 2026, covering Q2 2026. Revenue surged 92% year-over-year to $7.8 billion, beating analyst expectations of about $6.8 billion. The net loss narrowed to $541 million, or 9 cents per share, better than the expected 24-cent loss. All three business segments - launch, SpaceX — Starlink connectivity, and AI - exceeded revenue estimates. SpaceX — Starlink revenue reached $4.3 billion with 12 million subscribers, doubling year-over-year. The AI business generated $2.6 billion in revenue but posted an operating loss of $1.26 billion, better than expected. Capital spending jumped to $18.4 billion in Q2, driven by AI infrastructure, raising concerns about cash burn. Musk forecast $100 billion annual revenue run-rate by year-end and outlined plans to compete with major US mobile carriers using SpaceX — Starlink. The stock fell about 7% in after-hours trading to $116.40, below the IPO price of $135, as investors worried about AI spending and upcoming lockup expirations. The first lockup release of over 900 million shares was scheduled for August 6, potentially adding supply pressure. The earnings report came amid a broader AI selloff and concerns about SpaceX's high valuation, which had fallen from a peak of $2.6 trillion to about $1.6 trillion.