SpaceX reported $7.8 billion in second-quarter revenue, crushing Wall Street's $6.9 billion forecast. The space company narrowed its net loss to $541 million, down from $1.0 billion a year ago, as growth kicked in across launches, Starlink, and AI services.
But there's a catch. The company's bitcoin holdings tanked in value. SpaceX disclosed $1.10 billion in digital assets at quarter's end, down sharply from $1.64 billion at the close of 2025. The firm still holds 18,712 bitcoin, yet the 33% price collapse through the first half cost it roughly $540 million on paper.
Adjusted EBITDA nearly tripled to $3.5 billion, signaling operational momentum even as the balance sheet took a hit on crypto exposure. The stock initially jumped nearly 10% during regular trading but slid 6% in after-hours action following the earnings release, while the Nasdaq 100 climbed 3.3%.
The timing matters. SpaceX went public just two months ago in an $86 billion IPO. Now it faces a real test. On August 6, roughly 912 million shares held by employees and early investors unlock for sale, potentially flooding the market with new supply and testing whether momentum holds.
This article provides factual reporting on SpaceX's financial results and is for informational purposes only, not investment advice.
