After market close today, Elon Musk’s space exploration, satellite deployment, and AI company SpaceX (NASDAQ: SPCX) posted its first quarterly earnings report after its IPO in June.
The company’s CEO and its top executives also conducted the Q2 2026 Earnings Call and answered questions from investors and the media.
SpaceX (SPCX) reported revenue growth of 92% in Q2 2026 compared to the same quarter last year. The space company also reported a net loss of $541 million (unaudited).
Interestingly, the reported net loss is an improvement of $467 million compared to last year’s 2nd quarter ending on June 30, 2025.
Last year, SpaceX was a privately owned company. The financial numbers in the new reports also provide insights into the company’s financial situation before becoming a public company.
YoY Comparisons
SpaceX scored revenue of $7.814 billion in Q2 2026 vs $4.017 billion in Q2 2025. This is a 92% increase year-over-year (YoY) for the 2nd quarter.
The company is operating in three major areas: Space, Connectivity, and Artificial Intelligence (AI). Compared to last year, the biggest jump in revenue has come from SpaceX’s AI business segment.
In Q2 2025, SpaceX made $737 million from its AI operations. In Q2 2026, these revenues increased to $2.561 billion, a 247% YoY increase.
The Connectivity segment mainly consists of Starlink high-speed satellite internet. SpaceX has created a constellation of Starlink satellites in space and sells Starlink terminals to individual, corporate, and government customers for a recurring monthly fee.
Starlink generated revenue of $4.291 billion in this year’s 2nd quarter. Last year, in the same quarter, it was $2.588 billion. Overall, the connectivity business grew around 66% YoY in Q2.
However, SpaceX’s core mission is ‘Space’. This includes space launches with commercial payloads for customers and internal launches of Starlink satellites into space (currently using the Falcon rocket).
The Space segment brought in revenue of $962 million in Q2 2026, which is an increase of around 29% compared to last year’s revenue of $746 million in the same quarter.
QoQ Comparisons
Compared to Q1 2026, SpaceX increased its total revenue from $4.694 billion to $7.814 billion, which is a hike of more than 64% QoQ.
All three SpaceX revenue streams (Space, Connectivity, and AI) demonstrated growth. However, the AI business segment took the lead with the launch of the latest versions of Grok AI Assistant and the X.AI website generating paid subscriptions.
SpaceX’s AI revenue grew from $818 million in Q1 to $2.561 billion in Q2 this year. This is a sharp increase of 212% quarter-over-quarter (QoQ).
The Connectivity segment generated revenue of $3.257 billion in Q1, which increased to $4.291 billion in Q2, an increase of 31.7%.
In the Space segment, SpaceX generated revenue of $619 million in Q1 and $962 million in Q2, which is an increase of more than 55%.
SpaceX (SPCX) Q2 2026 Financial Results (PDF)
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 announces its financial results for Q2 2026. Get the comparison of revenues from last year's Q2 (YoY) and Q1 2026 (QoQ), and more.){kind=link}