SpaceX Revenue Soars But Company Remains Unprofitable In First Earnings Report
SpaceX reported sharply higher revenue but remained unprofitable during the three months ending in June, according to its first post IPO earnings report.
The Elon Musk led aerospace company generated $7.8 billion in revenue, up from $4 billion during the same period last year and above Wall Street expectations. However, SpaceX recorded a $143 million loss, although this was significantly smaller than the $970 million loss reported a year earlier.
SpaceX shares rose by more than 9% before the earnings announcement but fell by more than 6% in after hours trading after the results were released. The company’s share price had already declined sharply since reaching a peak shortly after its June public listing.
The company’s stock reached $225 per share shortly after its initial public offering, rising by 66% within four days. However, the price later dropped as investors moved beyond the excitement surrounding the listing and focused more closely on SpaceX’s financial performance.
SpaceX operates spacecraft and thousands of satellites supporting its Starlink internet service. The company also oversees xAI, Elon Musk’s artificial intelligence business, placing it in competition with major technology companies operating in the AI sector.
Investors are expected to closely examine Starlink’s future growth because the satellite internet service is considered one of SpaceX’s most important sources of revenue. Analysts will be watching subscriber growth, pricing and the company’s ability to move towards profitability.
SpaceX reported $18.7 billion in revenue during 2025, representing annual growth of 33%. Despite the increase, the company recorded a $4.9 billion loss for the year, highlighting the high costs associated with its aerospace, satellite and technology operations.
The company could face further pressure later this week when its IPO lockup period expires. More than 900 million additional shares are expected to become available for trading, potentially increasing supply and creating further volatility in the stock price.
The earnings report also has significant implications for Elon Musk, who owns roughly 40% of SpaceX. His wealth increased sharply following the company’s public listing but later declined as SpaceX shares and Tesla stock lost value.
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