STARBASE, TEXAS / RankWire.AI / – SpaceX experienced a 13.6% decrease in its stock price on Wednesday, August 5, closing at $108.27, marking its lowest settlement since the company’s public debut in June. This downturn followed the release of its inaugural quarterly financial results as a publicly traded entity, which revealed a total capital expenditure of $18.37 billion for the quarter. Out of this, $15.83 billion was allocated to artificial intelligence infrastructure. During the same period last year, SpaceX invested $749 million specifically in AI assets.
The stock touched an intraday low of $107.18 and ended nearly 20% below its IPO price of $135. Trading began on Nasdaq on June 12, with SpaceX offering 638.9 million Class A shares, including the full allotment for underwriters. The offering generated approximately $85.68 billion in net proceeds. Following the IPO, the stock climbed to a peak of $201.80 before the recent decline took hold.
Revenue for the quarter jumped by 92%, reaching $7.81 billion from $4.07 billion a year earlier. The company reduced its net loss 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, the CEO, participated in the first earnings call after the IPO alongside other company executives.
Capital boost driven by AI infrastructure expenditures
The artificial intelligence division generated $2.56 billion in revenue, reflecting a 247.5% increase from $737 million. The rise was primarily driven by new AI services and infrastructure, contributing $1.88 billion of the growth. Despite the revenue increase, the segment reported an operating loss of $1.26 billion, compared to $1.52 billion a year earlier. R&D expenses for AI surged 94.1% to $2.18 billion, while advertising revenue declined by $59 million during the quarter.
Starlink and its related connectivity offerings brought in $4.29 billion, up 65.8%. Income from connectivity operations increased 79.4%, reaching $1.66 billion. Subscriber growth in the consumer segment was 101.2%, although average revenue per user dropped 22.4%. Revenues from government, aviation, maritime, and enterprise sectors added $939 million. The space division recorded sales of $962 million but incurred an operating loss of $542 million.
Initial post-IPO share restrictions set to lapse
On Thursday, August 6, up to 911.5 million shares held by employees and early investors will become eligible for sale. This amount accounts for about 6.9% of SpaceX’s total 13.18 billion outstanding Class A and Class B shares. It surpasses the IPO share count by approximately 272.6 million. SpaceX’s prospectus filed with the Securities and Exchange Commission details the phased release schedule. While these shares can now be sold, there is no obligation for holders to do so.
The initial unlocked block was valued at roughly $98.7 billion based on Wednesday’s closing price. As of July 28, SpaceX reported 7.70 billion Class A shares and 5.49 billion Class B shares outstanding. As of the end of June, the company held $93.52 billion in cash and $6.49 billion in marketable securities. The August 6 event marks the beginning of the first scheduled release for restricted shareholders, with further lock-up expirations listed under the company’s post-IPO timetable.