Key Points
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Space Exploration Technologies bulls and bears will be anxious to see the latest three-month financial snapshot from the company.
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SpaceX has pitched investors on huge growth over the next three to five years, so while one quarter won’t make or break an investing thesis, time is not unlimited, given the company’s valuation.
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The second-quarter earnings date will also enable insiders to sell a significant tranche of their shares.
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Since its initial public offering in June, Space Exploration Technologies (NASDAQ: SPCX) has arguably been the most widely discussed stock in the market.
The company saw its stock soar out of the gate but has since given back much of those gains, despite joining several prominent market indexes sooner than most post-IPO stocks. While there is seemingly never a dull moment at the company, investors should definitely mark their calendars for Aug. 4.
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Here’s why.
Image source: The Motley Fool.
Second-quarter earnings will be announced Aug. 4
SpaceX recently announced that it will release its second-quarter 2026 financial results on Aug. 4 after the market closes. Management, including SpaceX founder Elon Musk, will host a live conference call at 4:30 p.m. ET to discuss the results with Wall Street analysts. Earnings allow investors to review financial results over three months.
While SpaceX filed its registration statement earlier this year, providing a lot of information about the company, second-quarter results will present investors with new information that will better inform their view of the company and their opinion of the stock and its valuation.
It’s also possible, although certainly not guaranteed, that SpaceX provides financial guidance, which would better inform analysts’ financial models.
But for a company like SpaceX, which is a long-term bet on the space economy and artificial intelligence, insights from Musk on the conference call are likely to be just as, if not more important than, second-quarter financials.
Investors will have many questions about initiatives like Starship, the company’s fully reusable, heavy-lift rocket on which much of the SpaceX business model hinges.
I’m sure investors will also be curious about the company’s data center deals announced earlier this year, its planned future Terafab facility to be run in partnership with Intel and Tesla, and how Grok Intelligence is advancing.
Starlink, the company’s low earth orbit satellite internet service, which has thus far been its most profitable business, will also be top of mind.
Consensus estimates project revenue of around $6.87 billion for the quarter and a loss of $0.28 per share, according to Yahoo! Finance (as of July 22). In the first quarter of 2026, SpaceX generated revenue of nearly $4.7 billion and a loss of $1.27 per share.
During SpaceX’s IPO roadshow, the Financial Times reported that investment bankers suggested total revenue at the company could surge from about $19 billion in 2025 to $474 billion by 2030.
So while investors aren’t focused on one quarter, they will be looking for clues about medium-term growth.
A big tranche of the lock-up shares expires
SpaceX’s second-quarter earnings report will also trigger the release of a big tranche of shares subject to the company’s lock-up policy.
Following most IPOs, company insiders and employees are prevented from selling their shares for a certain period to maintain stability in the stock when it first hits the market. SpaceX has a staggered lock-up policy, under which a certain number of insider shares are gradually made available for sale over the first six months following the IPO.
On the second full trading day following the release of the company’s second-quarter earnings results, a fifth of insider shares will be eligible for sale. Interestingly, if the stock price is at least 30% above SpaceX’s IPO price of $135, an additional 10% of insider shares will be eligible for sale.
As of July 21, SpaceX stock traded at roughly $123.50, so there’s some ground to make up for insiders to unlock that additional 10%. This policy does not apply to Musk, who holds an extraordinary amount of the company’s shares and can’t sell any stock until at least one year after the IPO.
If insiders sell a large number of their shares, that could flood the market with supply and hurt the stock, even if earnings are perceived positively.
Ultimately, SpaceX’s second-quarter earnings report has both mechanical and fundamental implications for the stock. It could very well be the biggest day for the company and stock since the IPO.
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Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
