SpaceX to Release First Quarterly Earnings as Public Company

SpaceX is set to file its first quarterly earnings report as a publicly traded company after the closing bell on Tuesday. The filing will detail the firm’s expenditures on artificial-intelligence initiatives, revenue generated by its Starlink satellite-internet service, and updates on the development of the Starship launch vehicle.

The company’s shares have fallen from the record high reached shortly after its initial public offering two months ago, trading at $114 on Monday, roughly 50% below the June 16 peak and 15% beneath the IPO target price. Analysts note that while the earnings numbers may have limited impact on a stock that has only been listed for a short period, the report will serve as a gauge of cash burn and revenue trends.

Timothy Horan, an equity analyst at Oppenheimer, said, "In our view, results are secondary to reading management’s body language and outlook."

SpaceX disclosed losses of about $4.3 billion for the first quarter, following a $4.9 billion loss in the prior year. Capital expenditures reached $10.1 billion, with $7.7 billion allocated to AI projects after the acquisition of xAI earlier this year. Analysts expect Starlink to remain the primary revenue source, though Oppenheimer projects a modest slowdown in its growth due to launch-schedule delays.

The earnings release also coincides with the expiration of a lock-up period covering up to 911.5 million shares, allowing certain insiders to sell holdings, which could add to short-term price volatility. Average analyst price targets for the stock stand at $228, with Oppenheimer assigning a $250 target.