SpaceX posts its first quarterly results as a public company today

SpaceX will release its first earnings report as a public company today, offering investors an early look at the performance behind Elon Musk’s company.

Despite a strong debut on June 12 that sparked enthusiasm among retail investors, the company has since lost more than $500 billion in market value.

The Elon Musk company traded at $176 per share in June and, as of last week, is at $108.37. Short sellers have capitalized on the decline, accumulating about $8.3 billion in paper profits.

Investors are focused on the success of the Starship rocket, which completed its 13th test flight on July 24. Analysts highlight Starship’s role in satellite deployment and potential orbital AI data centers.

To drive growth, SpaceX agreed to acquire AI coding startup Cursor for $60 billion, with the deal expected to close in the third quarter.

Despite its massive $1.4 trillion market capitalization, SpaceX continues to face financial challenges, including billions of dollars in quarterly cash burn and debt roughly twice its cash reserves.