STARBASE, TEXAS / RankWire.AI / – SpaceX experienced a 13.6% decline on Wednesday, August 5, closing at $108.27, marking its lowest closing price since the company’s June public debut. The fall followed the release of its initial quarterly financial results as a publicly traded entity, revealing $18.37 billion in capital expenditures for the quarter, with artificial intelligence infrastructure accounting for $15.83 billion of this total. During the same period last year, SpaceX allocated $749 million to AI assets.
During intraday trading, the stock dipped to $107.18 before ending the day nearly 20% below its IPO price of $135. Since beginning Nasdaq trading on June 12, SpaceX issued 638.9 million Class A shares, including the full allotment for underwriters, raising approximately $85.68 billion. The stock reached a high of $201.80 post-IPO before the recent decline.
Revenue for the quarter surged 92%, reaching $7.81 billion from $4.07 billion a year earlier. The company’s net loss was reduced to $541 million from roughly $1.01 billion, while operating loss decreased to $143 million from $970 million. Adjusted EBITDA hit $3.54 billion. SpaceX CEO Elon Musk participated in the first earnings call following the IPO alongside other executives.
AI Infrastructure Investment Drives Capital Increase
The AI segment generated $2.56 billion, representing a 247.5% increase from $737 million. The rise was mainly driven by new AI services and infrastructure, which contributed $1.88 billion. Despite the revenue growth, the segment reported an operating loss of $1.26 billion, a slight improvement from $1.52 billion last year. R&D expenses for AI rose 94.1% to $2.18 billion. Advertising revenue declined by $59 million in the quarter.
Starlink and related connectivity services brought in $4.29 billion, a 65.8% increase. Operating income from connectivity improved 79.4% to $1.66 billion. The company saw a 101.2% rise in consumer subscribers, although average revenue per user decreased 22.4%. Revenue from government, aviation, maritime, and enterprise activities added $939 million. The space division generated $962 million in sales but incurred an operating loss of $542 million.
Share Restrictions Post-IPO Begin to Lift
On Thursday, August 6, up to 911.5 million shares owned by employees and early investors become eligible for sale. This stake accounts for about 6.9% of SpaceX’s 13.18 billion Class A and Class B shares outstanding, exceeding the IPO share count by approximately 272.6 million. The company outlined the phased release schedule in its SEC filing. While these shares become eligible for sale, holders are not obligated to transact.
As of July 28, SpaceX listed 7.70 billion Class A and 5.49 billion Class B shares outstanding. Its cash holdings at the end of June totaled $93.52 billion, with $6.49 billion in marketable securities. The first scheduled release of restricted shares coincides with the August 6 session, with additional lock-up periods remaining per the company’s IPO timetable.
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