SpaceX grew revenue 92% to $7.8 billion in the second quarter, beating Wall Street’s consensus estimate of approximately $6.9 billion by nearly $1 billion. The company reported a net loss of $541 million, a marked improvement from a $1 billion loss a year ago, while adjusted EBITDA nearly tripled to $3.5 billion. Since its Nasdaq debut in June, SpaceX shares have tumbled roughly 50% from their peak of $211. Starlink’s subscriber base doubled year-over-year and the AI segment turned positive on adjusted EBITDA for the first time. The earnings release triggers a lockup provision allowing pre-IPO shareholders to begin selling a portion of their holdings.
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