Wall Street's Expectations for SpaceX's First Earnings Report
SpaceX will report its first earnings as a publicly traded company on August 4, following its historic $85.7 billion IPO in June. The stock has fallen over 45% since the offering price of $135 per share and is now trading at around 49 times expected revenue—a high multiple that leaves little room for disappointment. Analysts are closely watching for signs of meaningful revenue growth, particularly from Starlink, which had 10.3 million subscribers as of March 2026. Investors will also be looking for updates on free cash flow and progress in AI infrastructure and the Starship program. SpaceX is investing heavily across multiple segments but needs to show positive operating cash flow to justify its valuation. Additionally, a $16 billion contract with the U.S. Space Force could impact future revenue projections. Two days after earnings, up to 911.5 million insider shares will unlock on August 6—the largest lock-up expiration in financial history—potentially increasing market volatility.
Tickers: $SPCX
Topics: IPO performance SpaceX Starlink growth Wall Street expectations