SpaceX posted Q2 2026 revenue of $7.81 billion, blowing past analyst estimates of $6.93 billion by a comfortable margin. Year-over-year growth clocked in at 92%. After-hours trading on August 4-5 told a different story, with shares sliding roughly 8% as investors zeroed in on $18.4 billion in capital expenditures for a single quarter.
The numbers behind the nerves
SpaceX’s Q2 report marks a milestone. It’s the company’s first earnings release since going public in June 2026 under the ticker SPCX, in what was the largest IPO in history at $135 per share. The net loss narrowed to $541 million for the quarter, or $0.09 per share.
Of the $18.4 billion in capital expenditures, $15.83 billion was directed toward AI infrastructure initiatives, including a project called Colossus II.
Lockup expiration adds fuel to the fire
