SpaceX tops Wall Street revenue forecast, posts $540 million loss on bitcoin holdings
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
SpaceX reported second-quarter revenue of $7.8 billion, exceeding Wall Street expectations of $6.9 billion. The company narrowed its net loss to $541 million from $1 billion a year earlier, with adjusted EBITDA nearly tripling to $3.5 billion due to growth in its launch, Starlink, and AI businesses. SpaceX disclosed $1.10 billion in digital assets at the end of the quarter, down from $1.64 billion at the end of 2025, reflecting a bitcoin price decline.
Why it matters
The report highlights SpaceX's strong revenue performance and improved profitability, signaling accelerated growth across its business segments. The decline in bitcoin holdings’ value illustrates the impact of cryptocurrency market fluctuations on the company's financials. The upcoming opportunity for early investors and employees to sell shares could affect the stock's public float and market dynamics.
Key context
This was SpaceX’s first quarterly earnings report as a public company, following its record-breaking $86 billion IPO less than two months earlier. The $1.10 billion in digital assets primarily consists of 18,712 bitcoin, whose value fell due to a roughly 33% price drop during the first half of 2026. On August 6, about 912 million shares held by employees and early backers will become eligible for sale.
Key numbers and entities
SpaceX (ticker SPCX), Elon Musk (CEO), second-quarter revenue $7.8 billion, Wall Street forecast $6.9 billion, net loss $541 million (down from $1 billion), adjusted EBITDA $3.5 billion, bitcoin holdings 18,712 BTC valued at $1.10 billion as of June 30, down from $1.64 billion at end of 2025. The stock dropped 6% after-hours to $118 after a nearly 10% rise during the day; Nasdaq 100 gained 3.3%.
What remains unclear
The source does not flag any open questions or limitations within the reported information.