SpaceX's first public earnings statement shows the financials of an AI company in 2026

That's a lot of capital expenditure. Justin Sullivan/Getty Images SpaceX has published its first earnings report since going public on June 12. The company's Q2 topline is broadly positive. As a whole, SpaceX increased revenue by 92 percent year-over-year, bringing its total revenue for the quarter to $7.8 billion. The company also shaved the gap between its revenue and operating expenses by more than half, reducing net losses to $541 million, down from $1 billion a year ago. But digging deeper, the financials reveal just how expensive is to run an AI company. Over the past three months, the division previously known as xAI generated $2.56 billion in revenue, an increase of 247 percent from $737 million one year ago. SpaceX attributes that increase primarily to "Cloud Services Agreements"