SpaceX Q2 Revenue Soars 92% to $7.8B, AI and Connectivity Drive Growth
SPCX sits 20% above its 52-week low of $104.83.
Summary
SpaceX reported Q2 2026 revenue of $7.8 billion, up 92% year-over-year, with AI revenue surging 247% and Connectivity up 66%. Adjusted EBITDA hit $3.5 billion, and the company holds $100 billion in cash. The results underscore rapid scaling in AI infrastructure and Starlink subscriber growth.
Key Events · Earnings and Guidance · SPCX
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Revenue Nearly Doubles to $7.8B
Total Q2 revenue of $7.8 billion, up 92% from $4.1 billion a year ago, driven by AI (up 247% to $2.6B) and Connectivity (up 66% to $4.3B).
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Adjusted EBITDA Triples to $3.5B
Adjusted EBITDA reached $3.5 billion, up 191% year-over-year, with all three segments showing improvement. AI segment achieved positive adjusted EBITDA of $1.1 billion.
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AI Segment Turns Profitable on Adjusted Basis
AI revenue surged to $2.6 billion, and the segment posted adjusted EBITDA of $1.1 billion, reversing a $276 million loss a year ago, driven by new cloud services agreements.
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$14.1B in New Cloud Contracts and $60B Cursor Acquisition
SpaceX signed cloud services agreements totaling $14.1 billion in contracted sales and announced a $60 billion acquisition of AI coding tool Cursor, expected to close in Q3 2026.
Analysis · SPCX · Technology
In its debut quarterly report as a public company, SpaceX delivered blockbuster results that validate the IPO thesis and show accelerating momentum across all three business lines. Revenue nearly doubled to $7.8 billion, propelled by a 247% surge in AI revenue and 66% growth in Connectivity. Adjusted EBITDA tripled to $3.5 billion, and the company ended the quarter with $100 billion in cash. The AI segment turned profitable on an adjusted basis, while new disclosures included $14.1 billion in cloud contracts and a $60 billion acquisition of Cursor.
At the time of this filing, SPCX was trading at $125.39 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $104.83 to $225.64. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.