SpaceX Earnings Debut Lands As Stock Hits Low
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- SpaceX is set to report Q2 2026 results after Tuesday's close, marking its first earnings release since going public, with Bloomberg consensus projecting $6.87 billion in revenue (up from $4.7 billion in Q1) and an adjusted loss per share of $0.25.
- SpaceX stock hit a new all-time low of $111.06 on Monday, shedding nearly 30% from its $150 IPO last month and roughly 50% from its all-time high of $225.64, as the August 6 lockup expiration threatens to flood the market with up to 20% more shares.
- Analysts at S&P Global Visible Alpha project SpaceX capex will surge from $48.7 billion this year to $118.4 billion by FY 2028, with debt projected to balloon from $41.7 billion to over $218 billion — fueling concerns that AI infrastructure spending won't generate adequate returns.
- SpaceX is targeting late August or September for Flight 14, which Elon Musk said will attempt the first-ever tower catch of a Starship upper stage using the Mechazilla arms at Starbase.
- Elon Musk is still pushing for a SpaceX-Tesla merger, with the Wall Street Journal reporting Tesla executives are weighing how to dispose of the China business to clear the way — complicated by SpaceX's government and national defense contracts and Chinese government concerns.
Why it matters: SpaceX's debut earnings arrive with the stock down 30% from its $150 IPO and facing an Aug. 6 lockup expiration set to triple the tradable float, while projected capex of $118 billion and debt of $218 billion by FY 2028 test whether public investors will underwrite the AI-and-space buildout that private backers once funded.
