SpaceX Q2 Revenue Surges 92% to $7.81B; Digital Assets Drop to $1.10B
AI Market Summary
SpaceX's filing shows strong operating momentum (revenue +92% YoY; adjusted EBITDA +191%) but a marked reduction in the carrying value of its digital assets to $1.10B (about -33% vs end-2025). Given prior disclosure of holding 18,712 BTC, the change may reflect valuation marks and/or position adjustments, adding incremental signal on corporate crypto treasury posture without being systemically decisive.
Impact level
● Medium
Affected assets
BTC/USDT+0.88%
AI Insight · BTC/USDTAI Insight
● Neutral
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SpaceX posted second-quarter 2026 revenue of $7.81 billion, a 92% increase from a year earlier, and reported a narrower net loss of $541 million versus $1.01 billion. Adjusted EBITDA climbed 191% to $3.54 billion.
Connectivity revenue rose to $4.29 billion as Starlink subscribers doubled to 12 million. The AI business delivered 247% revenue growth to $2.56 billion, though it recorded an operating loss of $1.26 billion.
Capital expenditures totaled $18.37 billion for the quarter, including $15.83 billion tied to the AI segment.
At quarter-end, SpaceX reported digital assets with a carrying value of $1.10 billion, down about 33% from $1.64 billion at the end of 2025. The company previously disclosed holding 18,712 BTC in its IPO filing.
SpaceX also reported approximately $100 billion in cash, cash equivalents and marketable securities. Contract backlog was $47.5 billion.
