SpaceX Reports First Public Earnings Ahead of Lock-up Expiry

Space Exploration Technologies Corp. is scheduled to report its first quarterly earnings as a public company on August 4, 2026. Investors are focusing on the report to evaluate revenue growth and capital expenditures across the company's satellite internet, rocket launch, and artificial intelligence sectors.

Following the earnings report, a significant pre-IPO lock-up period will expire on August 6. This event will increase the public stock float from 4.9% to approximately 12%, allowing pre-IPO shareholders to sell roughly 911 million shares. Some estimates suggest between 20% and 30% of outstanding shares could be unlocked for sale by employees and early investors, though some holdings may be limited to a 20% sale of total positions.

The stock has experienced considerable volatility since debuting at an offer price of $135. While the share price peaked above $225 on June 16 and the company's market capitalization reached $2.5 trillion, the stock recently traded around $121 with a market capitalization of approximately $2 trillion. Additional shares may be released if the price maintains a 30% premium over the IPO price for five of the ten trading days before the earnings report. Elon Musk, who maintains over 80% of voting power and holds about 40% of shares, remains subject to a full one-year lock-up period.