STARBASE, TEXAS / RankWire.AI / – SpaceX experienced a 13.6% drop in its share price on Wednesday, August 5, closing at $108.27, marking its lowest point since going public in June. This decline followed the release of the company’s initial quarterly financial results as a publicly traded entity. The report revealed $18.37 billion in capital expenditures for that quarter, with artificial intelligence infrastructure accounting for $15.83 billion of that total. In the same quarter last year, SpaceX invested $749 million in AI assets.
During intraday trading, the stock dipped to $107.18 and ended the day nearly 20% below its $135 IPO price. Since its Nasdaq debut on June 12, SpaceX sold 638.9 million Class A shares through the offering, including the full allotment allocated by underwriters, which generated approximately $85.68 billion in net proceeds. The stock climbed afterward to a post-IPO high of $201.80 before experiencing the recent downturn.
Revenue for the quarter increased by 92%, reaching $7.81 billion compared to $4.07 billion a year earlier. The company’s net loss was reduced to $541 million from roughly $1.01 billion. Operating losses decreased from $970 million to $143 million. Adjusted EBITDA hit $3.54 billion. Elon Musk, SpaceX’s CEO, participated alongside other executives in the company’s first earnings call following the IPO.
AI Infrastructure Investment Drives Capital Increase
Revenues from the artificial intelligence segment soared 247.5%, reaching $2.56 billion from $737 million. The growth was driven mainly by new AI services and infrastructure, which contributed $1.88 billion to this increase. Despite the revenue growth, the segment posted an operating loss of $1.26 billion, compared to $1.52 billion a year earlier. R&D costs for AI climbed 94.1% to $2.18 billion. Meanwhile, advertising revenue declined by $59 million during the quarter.
Starlink and associated connectivity services generated $4.29 billion, marking a 65.8% increase. Operating income from these services grew 79.4% to $1.66 billion. Subscriber numbers for consumers grew by 101.2%, though the average revenue per user dropped by 22.4%. Revenues from government, aviation, maritime, and enterprise sectors added $939 million. SpaceX’s space division reported $962 million in sales but experienced an operating loss of $542 million.
Restrictions on Shares Post-IPO Set to Expire
On Thursday, August 6, up to 911.5 million shares held by employees and early investors will become eligible for sale. This block represents approximately 6.9% of SpaceX’s total 13.18 billion outstanding Class A and Class B shares. It exceeds the initial IPO share count by roughly 272.6 million. The company’s detailed staggered release schedule is included in its prospectus filed with the Securities and Exchange Commission. While holders are now eligible to sell, they are not obligated to do so.
At Wednesday’s closing price, the first unlocked block had a notional value of roughly $98.7 billion. As of July 28, SpaceX listed 7.70 billion Class A shares and 5.49 billion Class B shares outstanding. By the end of June, the company held $93.52 billion in cash and $6.49 billion in marketable securities. The August 6 release marks the beginning of the scheduled unlock for restricted shareholders, with additional lock-up expirations outlined in the company’s post-IPO timetable.