SpaceX reported better-than-expected revenue for the second quarter of 2026 in its first earnings release as a publicly traded company, posting $7.81 billion in revenue, a 92% increase from $4.1 billion in the year-ago period and ahead of the $6.93 billion analyst consensus, according to CNBC. Shares of SPCX rose 6.14% on Wednesday, August 6, as the stock staged a recovery after falling in extended trading following the August 4 report.
The company's artificial intelligence business was the fastest-growing segment, with AI revenues rising 247% year-over-year, per CNBC. Starlink, SpaceX's satellite internet service and the only unit that generates consistent profit, posted revenue growth of 66%. The net loss for the quarter narrowed to $541 million from approximately $1 billion in Q2 2025, while loss per share came in at $0.09, sharply below the $0.26 loss that analysts had projected.
Despite the headline beat, the stock dropped in after-hours trading on August 4 as investors weighed the company's capital expenditure guidance. SpaceX said it expects to exceed $45 billion in capex for the full year of 2026 as it accelerates spending on Starlink infrastructure and its next-generation Starship launch system. CNN Business reported the stock fell on those concerns even as revenue growth vastly exceeded estimates.
Lockup expiry adds selling pressure
The Q2 report arrived against a backdrop of significant near-term supply pressure on SPCX shares. Approximately $123 billion worth of shares held by SpaceX insiders, early investors, and employees became eligible for sale in early August 2026 as the standard 180-day IPO lockup period began to expire, per Investing.com. That overhang has contributed to SPCX's one-month decline of roughly 24.5% even as the underlying business continues to grow at a rapid pace.
SpaceX priced its IPO in June 2026 at $135 per share on the Nasdaq. At Wednesday's close of $114.92, the stock remains approximately 15% below that level. The company's market capitalization stood at roughly $1.51 trillion based on the closing price.