SpaceX Q2 Highlights: Double Beat, Revenue Up 92%, Backlog Hits $47.5 Billion

Space giant SpaceX ) reported its first quarterly financial results as a public company Tuesday • What’s driving SPCXHere are the highlights.SpaceX Q2 EarningsSpaceX reported second-quarter revenue of $7.81 billion, up 92% year-over-year. The revenue total beat a Street consensus estimate of $6.93 billion according to dataRevenue by segment was the following:Space: $962 million, +29% year-over-yearConnectivity: $4.29 billion, +66% year-over-yearAI: $2.56 billion, +247% year-over-yearThe company reported a loss of nine cents per share, beating a Street consensus estimate of a loss of 24 cents per share.Operating loss/income by segment was:Space: -$542 millionConnectivity: +$1.66 billionAI: -$1.26 billionSpaceX highlighted two successful Starship V3 flight tests over the last 90 days, closing $14.1 billion in cloud service agreements contracted sales and doubling Starlink subscribers year-over-year to 12 million.The company has had 78 launches year-to-date and Starlink now serves 167 countries.Digital assets, which include the company’s Bitcoin (CRYPTO:BTC) holdings, were $1.1 billion at the end of the quarter, down from $1.6 billion in the previous quarter."2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX," SpaceX Chief Financial Officer Bret Johnsen said. Read Also: SpaceX Q2 Earnings Preview: Expert Says Report ‘Less About The Numbers and More About Elon Musk’s Vision’ What’s Next for SpaceXThe company ended the quarter with $100 billion in cash and cash equivalents.SpaceX’s total backlog was $47.5 billion at the end of the quarter."This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework," Johnsen said.SpaceX Stock Price ActionSpaceX stock is down 6.20% to $117.56 in after-hours trading Tuesday versus a 52-week trading range of $104.83 to $225.64. The company went public at $135 per share, with shares opening at $150 when the stock was public. Read Also: EXCLUSIVE: SpaceX Earnings Reaction–52% of Benzinga Viewers Say This Happens Image: Shutterstock