SpaceX tops Wall Street revenue forecast, posts $540 million loss on bitcoin holdings

SpaceX (SPCX), Elon Musk’s space technology company, reported its first quarterly results as a public company on Tuesday, announcing second-quarter revenue of $7.8 billion.

That figure topped Wall Street expectations of $6.9 billion, while narrowing its quarterly loss to $541 million as growth accelerated across its launch, Starlink and AI businesses.

The company reported a net loss of $541 million, an improvement from a $1.0 billion loss a year earlier, while adjusted EBITDA nearly tripled to $3.5 billion.

The firm held onto its stash of 18,712 bitcoin BTC$64,182.74, according to the SEC filing. However, the value of holdings declined to $1.10 billion at June 30 from $1.64 billion at the end of 2025, coinciding with bitcoin’s 33% price slump through that period.

SPCX was down 6% after-hours on the report to $118 after closing the regular session nearly 10% higher on the day’s trading, while the Nasdaq 100 gained 3.3%.

The firm’s report arrived less than two months after SpaceX’s record-breaking $86 billion IPO and ahead of the stock’s first major test. On Aug. 6, roughly 912 million shares held by employees and early backers will become eligible for sale, potentially increasing the stock’s public float.