SpaceX 10-Q Details Q3 Swing to $4.4B Net Income on $14.6B Revenue
SPCX sits 38% above its 52-week low of $104.83 on elevated volume (1.9× avg).
Summary
SpaceX's first full 10-Q as a public company shows Q3 revenue of $14,575M (up 161.4%) and net income of $4,404M, backed by $51.3B of cash and $38.6B of marketable securities, with heavy AI capex and a newly disclosed special committee weighing a Tesla combination.
Key Events · Earnings and Guidance · SPCX
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Q3 Revenue Jumps 161% to $14.6B
Revenue rose to $14,575M from $5,576M a year earlier, with SI segment revenue of $7,560M (up 829.9%) and Connectivity of $5,248M (up 69.5%) driving the increase.
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Net Income Turns Positive at $4.4B
Net income was $4,404M versus a $1,054M loss a year ago; diluted EPS was $0.35. Results include $1,025M of other income and a $390M tax benefit from a partial valuation-allowance release.
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Cash Pile $51.3B, Capex $48.1B
Cash and equivalents were $51,294M with $38,561M of marketable securities at September 30, 2026; nine-month capital expenditures reached $48,069M, mostly for SI data centers and launch infrastructure.
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Cursor Merger Closed at $42.5B
The Cursor acquisition closed August 14, 2026 for total consideration of $42,474M, including 271 million SpaceX shares at $141.29 and $4,181M of replacement equity awards; goodwill was $36,646M.
Analysis · SPCX · Technology
The headline numbers were already out in the October 20 8-K, but this 10-Q is where the full picture sits: $14,575M of quarterly revenue (up 161.4%), $2,791M of operating income versus a $273M loss a year ago, and $4,404M of net income. That profit is not purely operating — it includes a $1,025M other-income line (a $561M unrealized gain on The Boring Company stake and digital-asset gains) and a $390M tax benefit from releasing part of the valuation allowance. Cash is enormous at $51,294M plus $38,561M of marketable securities, yet nine-month capex of $48,069M shows how fast the SI buildout is consuming it. The filing also confirms the Cursor deal closed at $42,474M and discloses a board special committee evaluating a SpaceX-Tesla combination, plus fresh Grok-related legal notices from Virginia and Mississippi regulators.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 36.9% of the 1013 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.77%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SPCX was trading at $144.41 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9T. The 52-week trading range was $104.83 to $225.64. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.