NASDAQ: SPCX
SpaceX
Communication Services · Services-Computer Programming, Data Processing, Etc.
52-week range
Stock price
Market cap
At each quarter end: closing price × shares outstanding.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.$2.05T
Show tableHide table
| Period | Market cap |
|---|---|
| Q2 FY2025, ended Jun 30, 2025 | — |
| Q3 FY2025, ended Sep 30, 2025 | — |
| Q2 FY2026, ended Jun 30, 2026 | $2.25T |
| Q3 FY2026, ended Sep 30, 2026 | $2.05T |
Revenue
By fiscal quarter.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.$14.6B
Show tableHide table
| Period | Revenue |
|---|---|
| Q2 FY2025, ended Jun 30, 2025 | $4.07B |
| Q3 FY2025, ended Sep 30, 2025 | $5.58B |
| Q2 FY2026, ended Jun 30, 2026 | $7.81B |
| Q3 FY2026, ended Sep 30, 2026 | $14.6B |
Net income and free cash flow
By fiscal quarter. Free cash flow is operating cash flow minus capex.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| Q2 FY2025, ended Jun 30, 2025 | −$1.01B | — |
| Q3 FY2025, ended Sep 30, 2025 | −$1.05B | −$3.11B |
| Q2 FY2026, ended Jun 30, 2026 | −$541M | — |
| Q3 FY2026, ended Sep 30, 2026 | $4.40B | −$9.96B |
Cash and cash equivalents
At each quarter end.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.$51.3B
Show tableHide table
| Period | Cash and cash equivalents |
|---|---|
| Q2 FY2025, ended Jun 30, 2025 | $15.1B |
| Q3 FY2025, ended Sep 30, 2025 | $12.1B |
| Q2 FY2026, ended Jun 30, 2026 | $93.5B |
| Q3 FY2026, ended Sep 30, 2026 | $51.3B |
Total debt
At each quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.$37.9B
Show tableHide table
| Period | Total debt |
|---|---|
| Q2 FY2025, ended Jun 30, 2025 | — |
| Q3 FY2025, ended Sep 30, 2025 | — |
| Q2 FY2026, ended Jun 30, 2026 | $38.3B |
| Q3 FY2026, ended Sep 30, 2026 | $37.9B |
Shares outstanding
At each quarter end, adjusted for splits. Up 364% since Q2 FY25.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.13.6B
Show tableHide table
| Period | Shares outstanding |
|---|---|
| Q2 FY2025, ended Jun 30, 2025 | 2.93B |
| Q3 FY2025, ended Sep 30, 2025 | 2.94B |
| Q2 FY2026, ended Jun 30, 2026 | 13.2B |
| Q3 FY2026, ended Sep 30, 2026 | 13.6B |
Buybacks and new shares
By fiscal quarter, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for Q3 FY2026, ended Sep 30, 2026. Hover or tap a column for another quarter.$2.36B
Net: $2.36B more issued than bought back
Show tableHide table
| Period | Paid to employees |
|---|---|
| Q2 FY2025, ended Jun 30, 2025 | $463M |
| Q3 FY2025, ended Sep 30, 2025 | $350M |
| Q2 FY2026, ended Jun 30, 2026 | $831M |
| Q3 FY2026, ended Sep 30, 2026 | $2.36B |
SpaceX hasn’t filed an annual report (10-K) yet, so there are no trailing-twelve-month figures or ratios. Its quarterly figures are under History.
Not enough reported figures for highlights yet.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 22, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each quarterly report
0 to 100 · 60 means nothing notable · tap a column for its details
Jun 30, 2026 · 10-Q68Mildly positive
10-Q for the quarter ended Jun 30, 2026
Filed Aug 4, 2026 · Read the filing on EDGAR
- Quarterly revenue nearly doubled to $7.8 billion, helped by $1.6 billion from new AI cloud contracts and growing Starlink sales.
- The net loss narrowed to $541 million for the quarter, but the six-month loss tripled to $4.8 billion.
- The June IPO raised $85.7 billion, and new notes raised $25 billion, leaving about $100 billion in cash and short-term securities.
- SpaceX agreed to buy software company Cursor with shares based on a $60 billion value, and expects to close in the third quarter of 2026.
Business momentum
Strong improvement
“Revenue for the three months ended June 30, 2026 increased by $3,743 million, or 91.9%, compared to the three months ended June 30, 2025.”
Outlook
Neutral
“Accordingly, we believe we have sufficient sources of funding to meet our business requirements for at least the next twelve months.”
Financial stress
Low
“we and our subsidiaries had outstanding $38,433 million in aggregate principal amount of indebtedness and no material debt principal payments are due until July 15, 2031 under SpaceX Notes”
Tone against the previous report
No earlier report to compare
Red flags
- Minor
Loan covenant breach
“The First Amendment, among other things, (i) waived certain specified defaults and (ii) amended certain definitions and covenants under the SpaceX Credit Facility to conform to the terms of the SpaceX Bridge Loan.”
Positives
Revenue nearly doubled, with all three segments growing
“Revenue for the three months ended June 30, 2026 increased by $3,743 million, or 91.9%, compared to the three months ended June 30, 2025.”
Starlink's Connectivity segment is growing profitably
“Connectivity income from operations for the three and six months ended June 30, 2026 increased by $733 million, or 79.4%, and $888 million, or 45.4%, respectively, compared to the prior periods driven by the factors described above.”
IPO brought in a very large amount of cash
“which resulted in net proceeds of $85,675 million after deducting the underwriting commissions and offering costs of $575 million”
Concerns
Six-month net loss more than tripled
“net loss for the six months ended June 30, 2026 increased by $3,281 million, or 213.6%, compared to the six months ended June 30, 2025”
Spending on data centers and launch sites surged far above operating cash flow
“This increase was primarily driven by an increase in capital expenditures of $21,511 million related to the build out of data centers and related infrastructure, and space launch facilities and related infrastructure”
Starlink earns less per subscriber as it adds cheaper plans
“offset by a 22.4% decline in Starlink subscriber ARPU, primarily due to international expansion and the addition of lower priced service plans”
New risks since the previous report
AI cloud revenue depends on a few customers
“In addition, a significant portion of our AI infrastructure revenue is concentrated in a small number of customers.”
AI cloud contracts can be ended on short notice
“may be terminated by either party upon 90 days' notice”
More efficient AI could reduce demand for data centers
“if advancements in model efficiency or alternative architectures reduce demand for our infrastructure”
Data center disruptions could delay capacity and raise costs
“Physical damage, natural disasters, cybersecurity incidents, construction delays, workforce disruption or turnover, power constraints, supply chain disruptions, equipment”
Biggest risks named
- Reliance on a few AI cloud customers with short-notice contract terms
- Slower AI adoption or lower demand for AI infrastructure
- Heavy spending on AI and Starship while still losing money
- Data center construction, power and supply disruptions
- Share dilution and integration risk from the Cursor and EchoStar spectrum deals
Artificial intelligence in this business: Core to the business
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −4.5 | |
| New risks | 0 | |
| Score | 68 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 14 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 22, 2026 | Pro | |||
| 10-Q | Aug 4, 2026 | 68 | Strong improvement | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology