SpaceX to Report Q3 Earnings on Oct. 20 Amid Rising AI Spending
SpaceX will release its third-quarter results on Oct. 20, with analysts expecting revenue of $12.7 billion and highlighting growing AI-related expenditures as a key risk factor.
SpaceX is slated to announce its third-quarter financial results after the market close on Oct. 20, marking only its second earnings release as a publicly traded company. Analysts surveyed by Bloomberg project quarterly revenue of $12.7 billion, up from $7.8 billion in the prior quarter, and an adjusted earnings per share of $0.15. Adjusted EBITDA is estimated at $6.59 billion.
The company’s AI division, now operating under the name SpaceXSI, is a focal point of the upcoming report. In the previous quarter the unit recorded an operating loss of $1.26 billion, while AI-related spending rose to $15.8 billion, far exceeding the $7.7 billion spent in the first quarter.
"Need for additional financing remains a key overhang for sentiment, especially given the recent neocloud debt saga," wrote Morgan Stanley analyst Adam Jonas in a note published Monday. "This is the biggest risk to our model, and we do not want to downplay it."
Evercore ISI analyst Kutgun Maral suggested that the surprise earnings date could be intended to provide updated financials ahead of further financing arrangements or to give the market time to absorb operational updates before large lock-up share releases.
Deutsche Bank analyst Edison Yu highlighted that the scale of SpaceX’s compute deployment will be a decisive factor for future performance, noting the company’s target of more than 2 GW of power capacity by the end of 2026 and 5-10 GW by 2027.
Separately, Ark Invest speculated on a potential merger between SpaceX and Tesla, estimating combined sales of $3.8 trillion and operating profits of $2.7 trillion by 2031, though the note stressed that the model treats Tesla as a standalone business.
Investors will be watching the earnings release for clues on how the company plans to fund its expanding AI infrastructure and whether additional financing will be secured.