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SpaceX earnings are set to give Wall Street its first detailed look at the company’s finances since its historic initial public offering in June. The reusable rocket maker is scheduled to report fiscal second-quarter results after the market closes Tuesday, Aug. 4, 2026.
Investors are approaching the report cautiously. SpaceX shares opened at $150 on June 12 before falling sharply during the weeks that followed. The stock is now roughly 10% below its $135 IPO price and nearly 50% below its intraday peak reached on June 16, according to CNBC’s live market coverage.
SpaceX Earnings Face a Critical First Test
Analysts tracked by LSEG expect SpaceX to report approximately $6.93 billion in revenue for the quarter and a loss of 26 cents per share. The company’s reported earnings may not be directly comparable with analyst estimates because first-time public-company reports can include unusual adjustments.
The results will be closely watched because SpaceX has never before had to explain its financial performance to public-market investors. Elon Musk’s company is facing questions about profitability, cash flow, capital spending, satellite internet growth, and its expanding artificial intelligence operations.
According to StreetAccount estimates, analysts expect the company’s three main segments to produce the following revenue:
- Space: $835 million
- Connectivity: $3.83 billion
- Artificial intelligence: $2.18 billion
Starlink Profitability Emerges as the Powerful Story
Starlink is expected to be the most important part of the SpaceX earnings discussion. The satellite internet business was the company’s only profitable segment last year and generated $11.39 billion in revenue during 2025, representing 61% of total sales.
The connectivity unit produced $4.42 billion in income in 2025, helping offset losses from the company’s launch operations and newer technology investments. Starlink sells service to households, businesses, government agencies, and military customers around the world.
SpaceX said in June that Starlink had surpassed 12 million subscribers. However, industry observers expect investors to focus on the pace of new customer additions, average revenue per user, and the effect of recent price increases.
The company recently added a $10 monthly kit fee for terminal rentals and raised prices across several subscription tiers. Tim Farrar, president of TMF Associates, told CNBC that subscriber growth and average revenue per user will be important indicators of Starlink’s future profitability.
AI Spending and the SpaceX-xAI Buildout
Artificial intelligence is another major issue behind the SpaceX earnings report. SpaceX lost $4.9 billion in 2025, with heavy investment in AI infrastructure contributing to the pressure on its results.
The company reported $10.1 billion in capital expenditures during the first quarter, including $7.7 billion tied to AI. FactSet data showed analysts were expecting second-quarter capital expenditures of about $13.2 billion.
SpaceX merged with Musk’s xAI in February, bringing data centers, Grok models, the chatbot, and the social platform X into the broader corporate structure. The company has described an ambitious vision involving data centers in space. In June, SpaceX also agreed to acquire Cursor AI in a deal valued at approximately $60 billion, with closing expected during the third quarter.
That aggressive spending strategy could create long-term growth opportunities, but it also raises concerns about negative cash flow and the company’s ability to justify its public-market valuation. Analysts at Phillip Capital recently issued a rare sell rating, setting a $75 price target and citing expected losses and negative cash flow through at least 2030.
Starship, Lockups, and Investor Pressure
Bank of America aerospace and defense analyst Ron Epstein told CNBC that Starship may be the most important operational factor to watch. Investors want updates on the rocket’s development, launch performance, and path toward full reusability.
SpaceX’s share price has also created significant gains for short sellers. S3 Partners estimated that short sellers had approximately $8.3 billion in paper profits as of Friday’s close.
Another potential source of volatility is the expiration of IPO lockup restrictions. If early investors and employees become eligible to sell shares, a wave of new supply could increase pressure on the stock.
Musk has previously criticized short sellers, warning on X that companies maintaining significant short positions in SpaceX may face a low probability of long-term survival. The company’s first earnings conference call is scheduled for 4:30 p.m. Eastern time, when investors will hear directly from management about its financial outlook and growth plans.
Frequently Asked Questions About SpaceX Earnings
When will SpaceX report its earnings?
SpaceX is scheduled to report fiscal second-quarter results after the market closes on Tuesday, Aug. 4, 2026. Its conference call is expected to begin at 4:30 p.m. Eastern time.
What are analysts expecting from SpaceX?
LSEG analysts expect revenue of about $6.93 billion and a loss of 26 cents per share. StreetAccount estimates connectivity revenue of $3.83 billion, space revenue of $835 million, and AI revenue of $2.18 billion.
Why is Starlink important to SpaceX?
Starlink was SpaceX’s only profitable business in 2025. It generated $11.39 billion in revenue and $4.42 billion in income, making subscriber growth and pricing key investor concerns.
What risks are investors watching?
Investors are monitoring AI spending, capital expenditures, rocket development, negative cash flow, Starlink growth, and the possible increase in share supply after lockup restrictions expire.
