STARBASE, TEXAS / RankWire.AI / – SpaceX shares declined by 13.6% on Wednesday, August 5, closing at $108.27, marking their lowest level since the company’s public debut in June. This drop followed the release of its inaugural quarterly results as a publicly traded entity. The report highlighted $18.37 billion in capital expenditure for that quarter, with artificial intelligence infrastructure making up $15.83 billion of the total. During the same period last year, SpaceX invested $749 million in AI assets.
The stock experienced an intraday low of $107.18 and ended nearly 20% below its $135 IPO price. Trading on Nasdaq commenced for SpaceX on June 12, with the company selling 638.9 million Class A shares through the offering, including the full allotment allocated to underwriters. This transaction raised approximately $85.68 billion in net proceeds. Following the IPO, the stock reached a high of $201.80 before the recent downturn.
Revenue for the quarter surged 92% to $7.81 billion from $4.07 billion a year earlier. SpaceX reduced its net loss to $541 million from roughly $1.01 billion. Operating loss decreased to $143 million from $970 million. Adjusted EBITDA reached $3.54 billion. CEO Elon Musk participated alongside other leadership during the first earnings call following the company’s IPO.
AI infrastructure expenditure drives capital increase
The artificial intelligence segment generated revenue of $2.56 billion, reflecting a 247.5% rise from $737 million. The growth was driven by new AI services and infrastructure, which contributed $1.88 billion of the increase. Although the segment recorded an operating loss of $1.26 billion, it was down from $1.52 billion a year earlier. R&D expenses for AI jumped 94.1% to $2.18 billion. Advertising revenue, however, declined by $59 million during this quarter.
Starlink and its related connectivity services brought in $4.29 billion, an increase of 65.8%. Revenue from connectivity operations rose 79.4% to $1.66 billion. Subscriber growth among consumers hit 101.2%, though average revenue per user fell by 22.4%. Revenue from government, aviation, maritime, and enterprise sectors added $939 million. SpaceX’s space division generated $962 million in sales but faced an operating loss of $542 million.
Restrictions on shares following IPO begin to lift
On Thursday, August 6, up to 911.5 million shares held by employees and early investors become eligible for sale. These shares represent about 6.9% of SpaceX’s total 13.18 billion outstanding Class A and Class B shares. This amount exceeds the 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 permitted to sell, they are not obligated to do so.
The first unlocked block was valued at approximately $98.7 billion based on Wednesday’s closing price. As of July 28, SpaceX listed 7.70 billion Class A shares and 5.49 billion Class B shares outstanding. At 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 outlined in the company’s post-IPO timetable.