For the first time since going public with a record-breaking IPO, space giant SpaceX (NASDAQ: SPCX) will report quarterly financial results, with earnings set for Tuesday after market close.
Here are the earnings estimates, what experts are saying ahead of the report and the key items to watch:
SpaceX Q2 Earnings Estimates
Analysts expect SpaceX to report second-quarter revenue of $6.93 billion, according to data from Benzinga Pro.
Analysts expect a quarterly loss of 26 cents per share.
With the company newly public, there are not figures from last year's second quarter.
SpaceX had revenue of $18.7 billion in fiscal 2025 and reported a net loss of $4.9 billion.
What Experts are Saying
SpaceX has attracted many analyst ratings and price targets since going public, along with commentary from top market experts.
"Investors won't be focused on what the company earned over the past three months, but will likely be looking years down the road," Freedom Capital Markets Chief Market Strategist Jay Woods said in a weekly newsletter.
Woods highlights capital spending as one of the biggest items to watch in the earnings report and in commentary from company management.
"This is expected to be less about the numbers and more about Elon Musk's vision, his capital spending plans and whether Wall Street is willing to continue funding one of the market's most ambitious growth stories."
Woods said to look for spending on Starship, Starlink and AI infrastructure and the expected capital returns. Specifically, the market expert said investors should also look for updates on Starlink subscriber growth, government contracts and Starship's commercialization timeline.
The market expert also said investors should be aware of a lock-up expiration of around 911 million shares on Aug. 6. Those shares held by employees and early investors will be eligible to be sold, adding to the supply of shares available. SpaceX is unlikely to hit other milestones that would unlock more shares yet.
"For one of the year's most anticipated IPOs, the first earnings report could set the tone for the rest of 2026."
Here are some recent analyst ratings on SpaceX stock and their price targets:
- Macquarie: Maintained Outperform rating, with price target $250
- HSBC: Initiated with Hold rating, with price target $115
- Piper Sandler: Initiated with Neutral rating, with price target $156
- Needham: Maintained Buy rating, raised price target from $200 to $250
- Evercore ISI: Initiated with Outperform rating, with prices target $230
As the first earnings report as a public company, this could mark a turning point in the SpaceX storyline. The company's IPO prospectus featured large focus on total addressable market sizes for items like space, AI and more.
Musk is likely to give more details on timelines for some items, including trips to the Moon and Mars.
Similar to Musk's other main company Tesla, SpaceX opened up for submitted investor questions ahead of the report. The top voted on questions centered on topics like renaming Starship, if rockets could be painted pink and if the company's mascot Asteroid could be used for children's education programs.
Those items don't exactly spark great ideas on the company's future.
Expect Musk to be overly positive on the company's future, as he has already warned short sellers betting against the company. With the stock price down, Musk is likely to find more ways to get investors excited about the company's future.
SpaceX Stock Price Action
SpaceX stock is up 1.9% to $110.37 on Monday versus a 52-week trading range of $104.83 to $225.64. SpaceX stock is down 31.4% from its initial market debut and shares are down 51.1% from their market highs.