SpaceX Posts First Earnings Report Since IPO — Revenue Beats at $7.81B, but AI Capex Spooks Investors

SpaceX reported its first quarterly results as a public company on August 4, 2026: Q2 revenue of $7.81 billion, up 92% year-over-year from $4.1 billion and well above the $6.93 billion analysts expected, with a narrower-than-forecast net loss of $541 million (9 cents/share) versus a $1 billion loss a year earlier. Space segment revenue grew 55% sequentially and 29% year-over-year to $962 million on higher large-customer launch volume. CFO Bret Johnsen told analysts SpaceX is on pace for $100 billion in annualized recurring revenue by year-end and has already contracted an additional $6.7 billion of AI cloud-compute revenue for the six months starting in October, adding that AI capex projects are achieving 'less than a one-year payback.' Despite the beat, shares fell roughly 8% in after-hours trading as investors focused on surging capital expenditure tied to the Colossus AI buildout, with the stock extending losses into the next session.