SpaceX reported $7.8 billion in Q2 2026 revenue, a 92% year-over-year increase that surpassed analyst expectations of approximately $6.8 to $6.9 billion. The company posted $3.5 billion in adjusted EBITDA but recorded a net loss of $4.3 billion in Q1 2026 following a total loss of roughly $4.9 billion for all of 2025. SPCX shares have declined more than 20% from their $135 IPO price despite a target valuation of approximately $1.75 trillion at the June 2026 listing. CFO Bret Johnsen cited AI compute agreements as a key driver of margin expansion alongside continued growth in the Starlink satellite internet service. The company continues to burn billions of dollars in cash to fund Starship development, rocket manufacturing, and AI data center infrastructure buildout.
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