SpaceX Reports Near-Doubled Revenue and $541 Million Loss in First Post-IPO Quarterly Earnings

In its first quarterly earnings report since going public, SpaceX announced revenue of $7.8 billion — nearly double the same quarter a year prior — while posting a net loss of $541 million. The company spent $18.4 billion in capital investments during the period, directing funds toward its Starlink satellite communications network, spacecraft development, and artificial intelligence efforts.

On the earnings call, founder Elon Musk described SpaceX as solving "some of the hardest engineering problems in the history of humanity." He said the company launches more satellites than the rest of the world combined, that Starlink may deliver "a majority of the world's internet" within a decade, and that the company plans to launch orbiting AI data centers as soon as next year.

SpaceX's stock trajectory since its IPO has been turbulent. The company raised approximately $75 billion in what NPR described as a record-breaking IPO on June 12, with shares opening at $150. The stock reached an intraday high of $125.64 in mid-June before closing Tuesday at $125.33 — below the offering price. More than $1 trillion in market capitalization has been erased since the peak. Shares rose more than 9% during Tuesday's session ahead of the report, but gave back much of those gains in after-hours trading.