# SpaceX earnings latest: Stock hits record low today, investors’ first glimpse into Q2 2026 AI spending results comes due > Source: > Published: 2026-08-03 19:30:00+00:00 Elon Musk’s [SpaceX](https://www.fastcompany.com/section/spacex) is gearing up for another milestone—its first-ever earnings report, which it is scheduled to deliver tomorrow, Tuesday, August 4 after the closing bell. Analysts and investors are highly anticipating the space and [AI](https://www.fastcompany.com/section/artificial-intelligence) company’s second-quarter 2026 earnings results. They come less than two months after SpaceX’s much-hyped initial public offering (IPO) on June 12, which has so far delivered less-than-stellar returns. Since its [first trade](https://www.cnbc.com/2026/06/12/spacex-ipo-spcx-live-updates.html), SpaceX has lost [over $500 billion in market cap](https://www.cnbc.com/2026/08/03/spacexs-post-ipo-plunge-sets-tense-backdrop-for-first-earnings-report.html) and is down over 50% off its intraday high. Shares of Space Exploration Technologies Corporation ([Nasdaq: SPCX)](https://finance.yahoo.com/quote/SPCX/) were trading at $109.80 Monday afternoon at the time of this writing, well below both the stock’s first-trade price of $160.95 and [its listing price](https://www.fastcompany.com/91574475/spacex-stock-today-update-spcx-fell-below-ipo-price) of $135 per share. The stock briefly hit a new all-time low on Monday morning before rebounding slightly. As *Fast Company* has [reported](https://www.fastcompany.com/91576516/wall-streets-ipo-comeback-is-delivering-mixed-results), the largest IPO on record joins a host of companies that have, at the very least, not lived up to their enormous hype, and radically underperformed since going public. Not since May 2012, when Facebook (now Meta) went public, have shares of such a high-profile tech company fallen so hard right out of the gate. ([Facebook’s stock fell 54%, and was down 32% by year-end](https://finance.yahoo.com/markets/article/psyched-about-the-spacex-ipo-dont-forget-the-brutal-lesson-from-facebooks-ipo-133806117.html).) There are a few key indicators that investors will be watching for when SpaceX’s earnings come in on Tuesday. At the top of the list are concerns about the company’s spending: Like many other tech giants who are building [AI](https://www.fastcompany.com/section/artificial-intelligence) services and data centers (including Google, Meta, OpenAI, and Anthropic), SpaceX is spending massive amounts ([$40 billion a year](https://finance.yahoo.com/markets/article/psyched-about-the-spacex-ipo-dont-forget-the-brutal-lesson-from-facebooks-ipo-133806117.html)) on building its AI infrastructure and on its rocket program. (SpaceX posted a massive $4.94 billion GAAP net loss for full-year 2025 and $4.28 billion net loss in the first quarter of this year in its prospectus, per [Yahoo Finance](https://finance.yahoo.com/markets/article/psyched-about-the-spacex-ipo-dont-forget-the-brutal-lesson-from-facebooks-ipo-133806117.html).) At the same time, investors are worried about the potential for a new supply of the stock, which comes available after [lockup periods expire](https://www.nytimes.com/2026/07/15/business/spacex-ipo-price.html), the *New York Times* reported. Finally, SpaceX’s dominance in the rocket industry could falter now that China has [successfully completed](https://arstechnica.com/space/2026/07/china-recovered-its-first-reusable-rocket-and-showed-a-new-way-to-do-it/) its [first-ever controlled recovery of an orbital-class rocket booster](https://www.fastcompany.com/91574475/spacex-stock-today-update-spcx-fell-below-ipo-price), as *Fast Company* previously reported.