SpaceX earnings latest: Stock hits record low today, investors’ first glimpse into Q2 2026 AI spending results comes due

SpaceX (Nasdaq: SPCX) is set to report its first-ever earnings on Tuesday, August 4, after the closing bell, with shares trading at $109.80 on Monday, down over 50% from their intraday high and below the IPO price of $135 and first-trade price of $160.95, as the company has lost over $500 billion in market cap since its June 12 IPO. Investors will focus on SpaceX's massive spending, including $40 billion a year on AI infrastructure and rocket programs, after the company posted a $4.94 billion GAAP net loss for 2025 and a $4.28 billion net loss in Q1 2026, as well as concerns about lockup expirations and competition from China's first controlled recovery of an orbital-class rocket booster.

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.