HAWTHORNE, Calif. — SpaceX opened its books to public shareholders for the first time on Tuesday, reporting roughly $6.93 billion in second-quarter revenue and moving past Wall Street's $6.81 billion consensus in the company's debut earnings report since its record June IPO.
A Historic First
The report is the first quarterly update SpaceX has ever filed as a public company, closing a chapter that began in June when the launch and satellite giant staged the largest initial public offering in history. Revenue climbed sharply from about $4.7 billion in the first quarter, and the company posted an adjusted loss of roughly 26 cents per share alongside adjusted EBITDA near $2.0 billion. Management also issued full-year guidance for the first time, giving investors a formal look at how quickly the business expects to grow through year end. Just days earlier, our preview laid out the numbers the market was watching, and you can revisit them in our look at SpaceX's first earnings report since its record IPO.
Starlink And Starship Do The Heavy Lifting
The quarter underscored how much of SpaceX's momentum now flows through Starlink, the satellite broadband network that anchors the company's profitable connectivity segment. The constellation has grown past 10,800 satellites in orbit, and the unit continues to add subscribers worldwide even as the company rolls out lower-cost plans in newer markets.
Alongside connectivity, SpaceX highlighted the growth of its compute business, which now includes a contract with Alphabet's Google Cloud worth roughly $920 million per month. Executives framed the AI and data-center push as a long-term engine that will complement the launch and Starlink cash flows rather than compete with them. That optimistic thesis echoes the bull case some analysts have built even after a rocky post-IPO stretch, which we detailed in our report on SpaceX's bull case after Starship's success.
