SpaceX Tops Revenue Forecast, Reports $540 Million Loss on Bitcoin Holdings
Key Takeaways
- •SpaceX’s second-quarter revenue reached $7.8 billion, beating analysts’ expectations of $6.9 billion.
- •The company’s net loss narrowed to $541 million from $1.0 billion a year earlier, and adjusted EBITDA climbed to $3.5 billion.
- •SpaceX disclosed holdings of 18,712 bitcoin, but the value of those holdings declined to $1.10 billion by June 30.
- •Capital expenditures totaled $18.4 billion, exceeding the $13 billion analysts had expected.
- •About 912 million employee and early backer shares will become eligible for sale on Aug. 6, potentially expanding the stock’s public float.
SpaceX reported second-quarter revenue of $7.8 billion, beating Wall Street expectations of $6.9 billion, as the company posted its first quarterly results as a public company on Tuesday.
Elon Musk’s space technology company said its net loss narrowed to $541 million from $1.0 billion a year earlier. Adjusted EBITDA nearly tripled to $3.5 billion, supported by growth in launch, Starlink and AI businesses.
The company disclosed that it held 18,712 bitcoin, according to an SEC filing. However, the value of those holdings fell to $1.10 billion at June 30 from $1.64 billion at the end of 2025, reflecting bitcoin’s 33% price decline over the period.
SpaceX also reported $18.4 billion in capital expenditures during the quarter, above analysts’ expectations of $13 billion, as it continued to invest heavily in artificial intelligence infrastructure. The spending underscores how closely investors are now tracking the company’s capital intensity alongside top-line growth, especially as it expands across launch services and Starlink.
SPCX fell 6% in after-hours trading to $118 after closing the regular session nearly 10% higher. The Nasdaq 100 gained 3.3% on the day.
The report came less than two months after SpaceX’s record-breaking $86 billion IPO and ahead of the stock’s first major test. On Aug. 6, about 912 million shares held by employees and early backers will become eligible for sale, potentially increasing the stock’s public float.