SpaceX Reports First Public Earnings Amid Lockup Expiration

Space Exploration Technologies Corp. is scheduled to report its first quarterly earnings as a public company on Tuesday, August 5, 2026. The disclosure comes after a volatile period following its June IPO, with the stock falling from a peak of $225.64 to approximately $121, resulting in a market capitalization loss of over $500 billion.

Investors are focused on whether profits from the Starlink connectivity segment can offset losses in the rocket launch business and fund aggressive capital expenditures. Analysts expect AI-related spending to reach $10.2 billion for the April-June quarter, with total expenses hitting nearly $14.05 billion. To generate revenue, the company has leased AI compute capacity to Google, Anthropic, and Reflection AI.

On August 6, a significant post-IPO lock-up period expires, potentially unlocking between 20% and 30% of outstanding shares for sale by employees and early investors. This may increase the public float from 4.9% to roughly 12%. While the expiration could create downward price pressure, Elon Musk remains subject to a one-year lock-up on his shares. Musk also recently dismissed reports of a potential merger between SpaceX and Tesla as fake news.