SpaceX Reports First Public Earnings Amid Stock Volatility

Space Exploration Technologies Corp. released its first quarterly earnings report as a public company on August 4, 2026, reporting year-over-year quarterly sales growth of 15% and a price-to-sales ratio of 73. The report arrives as the company's stock price has plummeted nearly 50% from a peak of $225, dropping below its original $135 offering price and erasing over $1 trillion in market value.

Investors are closely monitoring the company's spending on artificial intelligence, including $7.7 billion in AI-related capital expenditures during the first quarter, as well as revenue growth from the Starlink satellite network. Wall Street anticipated a second-quarter loss of 24 cents per share on approximately $6.8 billion in revenue. The company's June initial public offering was the largest in history, raising between $75 billion and $85.7 billion and briefly making CEO Elon Musk the first trillionaire.

Market volatility is expected to intensify on August 6 when the first lockup period expires. This event will make approximately 912 million shares—valued at over $100 billion—available for trading, more than doubling the current public float. SpaceX has become one of the most shorted stocks in the United States, with short sellers holding nearly $25 billion of tradable stock.