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SpaceX’s first earnings report since its historic IPO is about to drop, and it comes at a sensitive time for the stock, which has tumbled 15% from the $135 offering price.
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Wall Street isn’t expecting the company to report a surprise profit. Starlink, its satellite internet business, is where investors will want to see growth in order to keep the money coming in while other projects pan out.
The report comes two days before a lockup expiration is set to significantly increase the public float, or the amount of stock available to trade. On August 6, insiders and early investors will be allowed to sell nearly a billion shares into the market, or about $106.4 billion worth of stock based on Monday’s closing price.
It could be a fresh headwind, and with a staggered lockup expiry schedule, investors could be in for months of volatility as supply of SpaceX stock steadily balloons.
SpaceX will report earnings after the 4 p.m. ET closing bell. The call with analysts will begin around 4:30 p.m. ET.
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Max Adams
Wall Street expects Q2 revenue of $6.81 billion
Second quarter
- Revenue estimate $6.81 billion (Bloomberg Consensus)
- AI segment operating loss estimate $2.39 billion
- Net loss attributable to holders estimate $2.11 billion
- Loss per share estimate 24c
- Pro forma loss per share estimate 24c
- Starlink subscribers estimate 12.19 million
- Starlink ARPU estimate $65.60
- Adjusted Ebitda estimate $2 billion
- AI segment adjusted EBITDA Loss estimate $15.5 million
- AI segment total revenue estimate $2.08 billion
- Space segment adjusted EBITDA loss estimate $409.9 million
- Space segment net sales estimate $873.7 million
- Connectivity segment adjusted EBITDA estimate $2.41 billion
- Connectivity segment revenue estimate $3.88 billion
- Total Costs & Expenses estimate $8.52 billion
- Capital expenditure estimate $18.58 billion
- AI segment capital expenditure estimate $13.09 billion
- R&D expenses estimate $4.39 billion
- Cash and cash equivalents estimate $93.78 billion
- Total assets estimate $189.49 billion
Year
Second quarter
- Revenue estimate $6.81 billion (Bloomberg Consensus)
- AI segment operating loss estimate $2.39 billion
- Net loss attributable to holders estimate $2.11 billion
- Loss per share estimate 24c
- Pro forma loss per share estimate 24c
- Starlink subscribers estimate 12.19 million
- Starlink ARPU estimate $65.60
- Adjusted Ebitda estimate $2 billion
- AI segment adjusted EBITDA Loss estimate $15.5 million
- AI segment total revenue estimate $2.08 billion
- Space segment adjusted EBITDA loss estimate $409.9 million
- Space segment net sales estimate $873.7 million
- Connectivity segment adjusted EBITDA estimate $2.41 billion
- Connectivity segment revenue estimate $3.88 billion
- Total Costs & Expenses estimate $8.52 billion
- Capital expenditure estimate $18.58 billion
- AI segment capital expenditure estimate $13.09 billion
- R&D expenses estimate $4.39 billion
- Cash and cash equivalents estimate $93.78 billion
- Total assets estimate $189.49 billion
Year
- Capital expenditure estimate $45.52 billion
Source: Bloomberg
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