SpaceX Beats Revenue Expectations, But Bitcoin Holdings Take a Hit
SpaceX, the space technology company founded by Elon Musk, reported its first quarterly results as a public company on Tuesday. The firm's second-quarter revenue came in at $7.8 billion, exceeding Wall Street expectations of $6.9 billion.
The company narrowed its net loss to $541 million from $1.0 billion a year earlier, while adjusted EBITDA nearly tripled to $3.5 billion on growth in launch, Starlink and AI businesses.
SpaceX also disclosed that it held $1.10 billion in digital assets at the end of the second quarter, down from $1.64 billion at the end of 2025. The company's bitcoin holdings were valued at $1.29 billion as of March 31 but dropped to an unspecified value by the end of June.
Shares of SpaceX (SPCX) fell 6% immediately following the report, despite closing the session nearly 10% higher on the day's trading. The Nasdaq 100 gained 3.3% during this time.