SpaceX, in its inaugural public earnings report since its June IPO, announced second-quarter revenue of $7.8 billion, significantly surpassing the consensus analyst forecast of approximately $6.8 billion to $6.9 billion. This represents a 92% increase from the same period in 2025. Despite this robust revenue growth, the company reported a net loss of $541 million for the quarter, following a $4.3 billion loss in the first three months of the year, underscoring its continued unprofitability.
The substantial losses are largely attributed to the company's aggressive spending on its AI segment, which saw revenue grow by an impressive 247% year-over-year. Overall capital expenditures reached $18.37 billion, reflecting significant investments. The only profitable business segment, Starlink, the satellite-based internet service, experienced a 66% jump in revenue, though its subscriber count of 12 million fell slightly short of the 12.19 million estimate.
Following the earnings release, SpaceX shares tumbled between 7% and 9% in after-hours trading. This decline was partly due to the high costs associated with the unprofitable AI segment and possibly concerns about a looming lockup period expiration for 911 million shares. CEO Elon Musk, however, commented that investors might be "underestimating" the company, and he anticipates SpaceX will receive a "significant percentage" of Nvidia's sought-after graphics processing units next year.
