SpaceX Surpasses Expectations with $7.81B Revenue in First Earnings Report Since Record-Breaking IPO

SpaceX (NASDAQ: SPCX) unveiled its first-ever earnings report as a public company on August 4, 2026. The company surpassed Wall Street expectations on both revenue and loss per share. However, the stock tumbled in after-hours trading as investors were taken aback by the soaring AI spending.

The rocket and satellite behemoth reported a Q2 2026 revenue of $7.81 billion, significantly exceeding the $6.93 billion analysts had predicted. This represents a remarkable 92% increase from $4.1 billion a year earlier. The net loss narrowed sharply to $541 million, in contrast to a $1 billion loss in the same period last year. The loss per share of just 9 cents beat the expected 26-cent loss.

Despite the impressive headline numbers, SpaceX shares dropped by approximately 7–8.8% in extended trading. This drop came after the company disclosed that capital expenditures had surged to approximately $18.4 billion in the quarter, far higher than anticipated. This surge was driven by its massive push into artificial intelligence infrastructure. CFO Bret Johnsen struck an optimistic tone, stating that SpaceX is on track to reach $100 billion in annualized recurring revenue by year-end. This projection is bolstered by a newly contracted $6.7 billion in cloud services revenue ramping in October.

The report was released just days before a major insider share lock-up expiration on August 6. On this date, nearly one billion shares, worth over $106 billion, will become eligible for sale. SpaceX went public in June 2026 in a record-breaking $75 billion IPO, opening at $150 per share. The company’s shares have since fallen roughly 16% from that level.

Source: CNBC – SpaceX Q2 2026 Earnings Live Updates