SpaceX reports its first financials as a public company today: Here are 4 key details to watch out for

What is arguably set to be the most watched earnings call of any company this year will take place later today.

Just after market close, Space Exploration Technologies Corp., better known as SpaceX (Nasdaq: SPCX), will report its first financial results as a publicly traded company.

The stakes couldn’t be higher for SpaceX and its legions of investors who have watched the company’s stock price plummet from an all-time high of over $225 per share—achieved just days after its much-hyped IPO—to its current price of around $117 today as of this writing.

Here’s what to watch out for when SpaceX reveals its Q2 2026 results this afternoon.

SpaceX’s total and segmented revenue

The headline item that investors and analysts will be most interested in is SpaceX’s revenue. As noted by CNBC, LSEG analysts are expecting the company to post total revenue of $6.93 billion, with a earnings per share (EPS) of negative 26 cents.

According to the company’s IPO documents, SpaceX generated total revenue of around $18.7 billion in fiscal 2025, when it was still a private company. But that’s before expenses are taken into account. In total for its fiscal 2025, SpaceX had a net loss of around $4.9 billion, according to CBS News.

But investors won’t only be interested in SpaceX’s total revenue (and/or losses). They’ll be keeping a keen eye on how the company’s different businesses are performing independently.

As noted by Hargreaves Lansdown, SpaceX separates its business operations into three main divisions:

Space: including its rocket products and payload delivery services
Connectivity: the company’s Starlink satellite internet services
AI: including social media platform X, Grok, and compute infrastructure services

In 2025, the company’s Connectivity division accounted for the overwhelming majority of SpaceX’s revenues, at 61%. Space came in a distant second at 22%, and AI came third at 17%.

That order is expected to change for SpaceX’s first quarterly results, notes CNBC. Analysts expect SpaceX’s three divisions to post the following revenues this time around for the quarter:

Connectivity: $3.83 billion
AI: $2.18 billion
Space: $835 million

Analysts will carefully watch for any surprises or upsets here.

Whether Elon Musk will be a fixture on financial calls

While a CEO leads a company, they don’t always make an appearance on the company’s quarterly financial calls, where leadership takes questions from analysts. Sometimes the CEO will join the call, and other times the call will be led solely by a company’s chief financial officer (CFO).

SpaceX CEO Elon Musk is widely expected to be the key speaker on the company’s first quarterly financial call today, alongside SpaceX CFO Bret Johnsen.

But investors will likely wonder whether Musk will be a permanent fixture on quarterly financial calls going forward. If Tesla’s financial calls are any indication, Musk will be. But look out for confirmation on this today.

Q3 2026 guidance

Of course, the company’s Q2 results are only one part of the pie.

Investors will also be keenly interested in the company’s forecast for its current third quarter.

Even if SpaceX posts disappointing Q2 results, strong Q3 guidance could give SPCX investors a boost of confidence the stock sorely needs.

How SpaceX stock reacts after-hours

The biggest thing investors will be keeping an eye on is how SpaceX stock reacts after the company’s first quarterly results as a public company are released. Though markets will be closed, investors will still be trading the company’s shares after hours.

Better-than-expected Q2 results could see SPCX shares get a boost—especially if investors react well to the company’s Q3 guidance. Poor results could cause the company’s stock price to pull back even further.