SpaceX (NASDAQ:SPCX) Announces Quarterly Earnings Results

SpaceX (NASDAQ:SPCX) posted its earnings results on Tuesday. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.10 by $0.25, FiscalAI reports. The firm had revenue of $14.57 billion during the quarter. The company’s revenue was up 161.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.36) earnings per share.

Here are the key takeaways from SpaceX’s conference call:

• SpaceX reported a sharp third-quarter acceleration, with revenue rising 161% year over year to $14.6 billion, net income reaching $4.4 billion versus a prior-year loss, and adjusted EBITDA increasing 306% to $8.8 billion.
• Starlink continued strong expansion, adding 1.6 million consumer subscribers to reach 13.6 million, while enterprise and government revenue grew 91% year over year. Aviation contracts now cover roughly 12,000 aircraft, and Starlink Mobile surpassed 22 million monthly users.
• Starship Flight 14 reached orbit and deployed operational V3 Starlink satellites, which management says will substantially increase network capacity. SpaceX plans to attempt recovery of both stages on Flight 15 and targets weekly Starship launches in the first half of 2027, although executives acknowledged that success is not guaranteed.
• The superintelligence business became the largest growth driver, generating $7.6 billion of third-quarter revenue, supported by cloud-compute agreements and the Cursor acquisition. Management cited strong demand, less-than-one-year compute payback periods, and a target of $100 billion in annual recurring revenue by year-end.
• SpaceX is committing to an extremely capital-intensive expansion: third-quarter capital expenditures were $19.6 billion, with fourth-quarter spending now expected at $35 billion-$40 billion to support compute, Starship, and satellite infrastructure. The company also recorded $1.2 billion of stock-based compensation related to the Cursor acquisition, while its ambitious compute and launch targets carry substantial execution and funding risks.

SpaceX Trading Down 0.1%

Shares of SPCX stock opened at $147.79 on Wednesday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.95 trillion and a PE ratio of -1,642.11. The company has a 50 day moving average of $148.92. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Q3 results exceeded expectations. SpaceX reported $14.58 billion in revenue, up 161% year over year, and earnings per share of $0.35 versus the $0.10 consensus estimate. Net income reached approximately $4.4 billion, compared with a loss a year earlier. SpaceX quarterly revenue jumps, beats estimates as AI business surges
• Positive Sentiment: AI and Starlink are accelerating growth. Super Intelligence revenue reached $7.56 billion, while Connectivity revenue rose 69% to $5.25 billion. Starlink subscribers increased to 13.6 million, and recurring satellite revenue helped support profitability. SpaceX Q3 revenue surges and beats estimates
• Positive Sentiment: Potential Tesla merger talks added to investor enthusiasm. SpaceX and Tesla formed independent committees to evaluate a possible merger, which Elon Musk called a “good idea.” Analysts including Dan Ives and Gene Munster view a transaction as plausible, though no deal or terms are certain. SpaceX and Tesla boards form special committees to review merger
• Neutral Sentiment: Management outlined ambitious expansion plans. Musk expects significant additional AI computing capacity and projected long-term recurring revenue growth, while the company and Tesla are targeting volume chip production through their Terafab project in 2028. These forecasts offer upside but remain execution-dependent.
• Negative Sentiment: Heavy investment and financing needs remain key risks. SpaceX spent about $19.6 billion on capital expenditures during the quarter, including $16.4 billion for AI infrastructure. Analysts warn that additional borrowing, cash burn and rising debt could pressure valuation despite the profit beat. More than one billion shares may also become eligible for sale as lockups expire.
• Negative Sentiment: Starlink faces reputational and regulatory concerns. Reports that Musk ordered a slowdown of Starlink service affecting Ukraine could increase political scrutiny and create risks for government relationships and future contracts. Musk ordered Starlink slowdown affecting Ukraine

Insider Transactions at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

Large investors have recently modified their holdings of the stock. SC US Ttgp LTD. bought a new position in shares of SpaceX during the 2nd quarter worth about $20,933,621,000. Darsana Capital Partners LP acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $17,335,783,000. K5 Global Advisor LLC bought a new stake in SpaceX in the 2nd quarter valued at about $6,587,531,000. State Street Corp bought a new stake in SpaceX in the 2nd quarter valued at about $1,858,329,000. Finally, Dragoneer Investment Group LLC bought a new stake in SpaceX in the 2nd quarter valued at about $1,366,880,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Phillip Securities upgraded SpaceX to a “strong sell” rating and set a $75.00 price target for the company in a research note on Friday, July 31st. Mizuho began coverage on SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 price objective on the stock. Clear Str raised SpaceX to a “strong-buy” rating in a report on Tuesday, July 7th. Daiwa Securities Group started coverage on shares of SpaceX in a research report on Thursday, July 2nd. They issued a “neutral” rating and a $175.00 target price for the company. Finally, Susquehanna upped their price target on shares of SpaceX from $144.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, SpaceX presently has an average rating of “Moderate Buy” and an average target price of $221.44.

About SpaceX

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.