Key Stats for SpaceX Stock
- Pre-Market Price change for SpaceX stock: -7%
- $SPCX Stock Price as of Aug. 4: $125
- 52-Week High: $226
- $SPCX Stock Price Target: $225
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What Happened?
SpaceX (SPCX) beat consensus estimates on nearly every number that matters.
Revenue came in at $7.81 billion, well above expectations of $6.82 billion; the loss per share was reported at $0.09, much smaller than the forecasted figure of $0.21; and adjusted EBITDA nearly tripled from last year. Yet SpaceX stock still dropped sharply after hours.
The reason comes down to spending. The company spent about $18.4 billion in capital expenditures during the quarter, and $15.8 billion of that went toward AI compute infrastructure alone. That’s a massive number, even for a company this size.
Breaking down the three segments:
Connectivity, which includes Starlink, remains the profit engine. It brought in $4.29 billion in revenue and $1.66 billion in operating income, helped by a record 1.7 million new Starlink subscribers in the quarter.
The Space segment (launches) grew revenue 29% year-over-year to $962 million but posted an operating loss of $542 million as SpaceX ramps up Starship production.
The AI segment grew fastest, up 247% year-over-year to $2.56 billion, but it also lost $1.26 billion on an operating basis, even though adjusted EBITDA for that segment turned positive.
All the segments above reported revenue above analyst estimates.
On the call, President Gwynne Shotwell said Starlink Mobile remains a priority.
The near-term plan is launching mobile satellites on Starship, followed by integrating spectrum from the recently approved EchoStar deal.
She said SpaceX aims to fly standalone-capable satellites in 2027 and hopes to serve its first mobile customers by the end of that year, eventually competing for AT&T, Verizon, and T-Mobile customers.
Elon Musk was asked about the pending $60 billion Cursor acquisition, expected to close in Q3, but declined to share details on product plans, citing regulatory caution.
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What the Market Is Telling Us About SpaceX Stock
Investors reacted to the spending, not the beat.
A 92% revenue jump and a much smaller loss would normally be seen as a strong quarter, but the size of the AI infrastructure spend is raising questions about how quickly that investment will pay off.
SpaceX ended the quarter with $100 billion in cash and marketable securities plus a $47.5 billion backlog, so the balance sheet looks solid for now.
Still, the market’s reaction suggests investors want to see capital expenditures translate into profit before they reward SpaceX stock for growth alone.
With SpaceX stock now down 16% since its IPO, the coming quarters of AI segment profitability will likely determine whether that patience holds.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
