SpaceX reports 92% revenue surge to $7.8 billion in first earnings report since going public

Aug 5, 2026

SpaceX reported a 92% revenue surge to $7.8 billion in its first earnings report since going public, beating Wall Street expectations. However, the company's stock fell in after-hours trading as investors reacted to a massive capital expenditure jump to $18.4 billion, with $15.83 billion dedicated to AI infrastructure. While Starlink doubled its subscriber base to 12 million, massive spending on AI and Starship development resulted in a net loss of $541 million for the quarter.

SpaceX Q2 2026 earnings results

▪SpaceX's second-quarter 2026 revenue of $7.8 billion beat consensus analyst expectations, which had projected revenue of approximately $6.8 billion to $6.93 billion.
▪SpaceX reported a net loss of $541 million for the second quarter of 2026, narrowing from a loss of $1 billion in the year-ago period.
▪SpaceX reported second-quarter 2026 revenue of $7.8 billion, representing a 92% increase from $4.1 billion in the same period of 2025.

Starlink subscriber growth

▪Average revenue per Starlink subscriber fell to $66 in the second quarter of 2026, down from $85 a year earlier, as SpaceX expanded into more international markets.
▪SpaceX's Starlink satellite division reached 12 million subscribers in the second quarter of 2026, doubling from 6 million subscribers in the year-ago quarter.

Starlink mobile service rollout

▪SpaceX President Gwynne Shotwell announced that SpaceX plans to launch its Starlink mobile service to its first customers by the end of 2027.
▪SpaceX secured Federal Communications Commission approval for a spectrum transfer from EchoStar, which Gwynne Shotwell described as a foundational competitive advantage for Starlink mobile.

Nvidia AI infrastructure partnership

▪SpaceX partnered with Nvidia to use Nvidia's chips, including Rubin GPUs and Vera CPUs, in SpaceX's forthcoming Starmind AI1 orbital compute satellites.
▪Elon Musk announced that SpaceX plans to build its AI data centers exclusively using Nvidia chips, including Nvidia's Vera Rubin processors.

Capital expenditure surge

▪SpaceX allocated $15.83 billion of its second-quarter 2026 capital expenditures to its artificial intelligence segment, up from $749 million a year earlier.
▪SpaceX's total capital expenditures jumped more than sixfold to $18.4 billion in the second quarter of 2026, up from $2.8 billion a year earlier.
▪SpaceX Chief Financial Officer Bret Johnsen stated that capital expenditures over the next two quarters are expected to remain at levels similar to the second quarter of 2026.

Cursor acquisition regulatory approval

▪SpaceX expects the $60 billion Cursor transaction to close in the third quarter of 2026.
▪Elon Musk declined to comment on the details of SpaceX's pending $60 billion acquisition of Cursor, stating that the company is wary of jumping the gun on regulatory closures.