SpaceX is scheduled to report its fiscal second-quarter results after the market closes on Tuesday, marking its first earnings report since its record initial public offering in June. According to CNN, investors will be closely watching the company’s spending on AI, revenue growth from Starlink, its satellite internet business, and progress on its flagship Starship rocket program.
SpaceX shares surged following the IPO about two months ago. Since then, however, the stock has retreated from both its post-IPO high and its offering price. The earnings report could provide investors with a clearer picture of the company’s financial performance and help determine the stock’s next direction.
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Earlier this year, SpaceX said it was still losing money. The company reported a loss of about $4.3 billion in the first quarter, following a loss of roughly $4.9 billion in 2025. While SpaceX generates billions of dollars in revenue from Starlink, it also spends heavily on rocket launches and AI initiatives, including the construction of data centers.
Analysts do not expect SpaceX to turn a profit yet, but they will be closely watching the company’s spending and revenue trends. Investors are also looking for updates on the Starship program, particularly following a mix of recent successes and setbacks in its test launches.
In June, SpaceX priced the biggest-ever U.S. initial public offering at $135 per share, raising a record $75 billion on the sale of 555.56 million shares. This valued the company at $1.77 trillion, a record for an initial offering and has also made the company’s founder and CEO Elon Musk the first trillionaire. While volatility following an IPO is common, the report is expected to serve as a “pulse check” for the company, and investors are eager to hear from Musk.
“In our view, results are secondary to reading management’s body language and outlook,” Timothy Horan, an equity analyst at brokerage and investment firm Oppenheimer, said in a note.
SpaceX has ambitious plans to dominate the global rocket industry. However, analysts note that long-term goals, such as deploying data centers in space, are unlikely to be defined by a single quarter of earnings.
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The company has significantly increased its AI spending this year following its acquisition of xAI. In the first quarter, SpaceX reported capital expenditures of $10.1 billion, of which approximately $7.7 billion was allocated to AI-related investments.
Wall Street analysts have an average target price of $228 on SpaceX, according to FactSet.
“With this company, the value is so much based upon uncertain future,” said Jay Ritter, professor emeritus at the University of Florida and an expert in IPOs.