SpaceX Q2 2026 Earnings Beat Estimates with $7.8 Billion Revenue Amid Lockup Expiration and AI Costs

SpaceX reported its Q2 2026 earnings with a loss per share of $0.09, significantly better than the expected loss of $0.24. The company posted revenue of $7.814 billion, surpassing analyst estimates of $6.934 billion and marking a 92% year-over-year increase. Despite strong earnings and growth in key areas like AI and Starlink users, SpaceX shares fell over 8% in after-hours trading due to a massive lockup expiration of approximately 911.5 million shares and significant capital expenditures in AI, which led to $12.6 billion in losses. The company also reported substantial cash reserves and a large backlog of $47.5 billion in orders.