NASDAQ: SPCX
SPACE EXPLORATION TECHNOLOGIES CORPCIK 0001181412 · SIC 7370 · Computer & Data Processing
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SpaceX closes $60B acquisition of Anysphere (Cursor), issues 389M shares
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SpaceX reports 92% revenue growth to $7.8B, announces $60B Cursor acquisition
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revenue $7.81B, net income -$541.0M. SpaceX debuts as public company with ~ (638.9M × ) IPO, Cursor deal pending, Q2 revenue up 92%
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SpaceX issues $25.0 billion in senior unsecured notes across five tranches, 5-30 year maturities
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SpaceX prices $25B inaugural bond offering to refinance bridge loan
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SpaceX launches inaugural bond offering to refinance bridge loan, discloses $100.8B cash
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SpaceX elects Sequoia's Roelof Botha independent director / Audit Committee member post-S-1
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SpaceX to acquire AI coding company Cursor for $60B in all-stock deal
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SpaceX completes $86B IPO, converts 103M preferred shares to dual-class common stock
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SpaceX prices 555.6M-share IPO at $135.00, raising $74.4B net proceeds (or $85.7B with overallotment)
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SPCX prices $35.3B IPO at $135/share; new investors pay 94% premium over book value
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SpaceX prices $494M IPO; Musk holds 1.3B restricted shares tied to Mars colony milestone
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SpaceX (SPCX) files to go public at a preliminary price range; offering size and terms TBD
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Latest financial statements
From 10-Q filed Aug 4, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
(in millions, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | 7,814 | 4,071 | 12,508 | 8,138 |
| Costs and expenses | ||||
| Cost of revenue | 3,495 | 2,282 | 5,883 | 4,244 |
| Research and development | 3,548 | 1,958 | 7,062 | 3,515 |
| Selling, general, and administrative | 912 | 606 | 1,658 | 1,099 |
| Restructuring charges (credits) | 2 | 190 | (9) | 194 |
| Impairment | — | 5 | — | 29 |
| Total costs and expenses | 7,957 | 5,041 | 14,594 | 9,081 |
| Loss from operations | (143) | (970) | (2,086) | (943) |
| Interest expense (related party of $327 and $— for the three months ended June 30, 2026 and 2025, respectively, and $513 and $— for the six months ended June 30, 2026 and 2025, respectively) | (629) | (411) | (1,293) | (858) |
| Interest income | 340 | 98 | 553 | 215 |
| Other income (expense), net | (86) | 413 | (1,962) | 202 |
| Loss before income taxes | (518) | (870) | (4,788) | (1,384) |
| Provision for income taxes | 23 | 138 | 29 | 152 |
| Net loss | (541) | (1,008) | (4,817) | (1,536) |
| Net loss attributable to shareholders basic and diluted | (541) | (1,008) | (5,488) | (1,536) |
| Net loss per share of common stock attributable to common shareholders | ||||
| Basic and Diluted | (0.09) | (0.34) | (1.12) | (0.53) |
| Weighted average shares used in computing net loss per share of common stock | ||||
| Basic and Diluted | 5,864 | 2,929 | 4,879 | 2,902 |
Consolidated Balance Sheets (Unaudited)
(in millions, except per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 93,522 | 24,747 |
| Marketable securities | 6,487 | — |
| Accounts receivable, net of allowance for credit losses of $50 and $39 at June 30, 2026 and December 31, 2025, respectively | 3,596 | 1,579 |
| Inventory | 2,718 | 2,416 |
| Prepaid expenses and other current assets | 1,724 | 2,210 |
| Total current assets | 108,047 | 30,952 |
| Property, plant, and equipment, net(a) | 65,736 | 42,602 |
| Finance lease right-of-use assets | 1,118 | 1,260 |
| Intangible assets, net | 1,318 | 1,548 |
| Digital assets | 1,098 | 1,637 |
| Goodwill | 11,645 | 11,809 |
| Deferred tax assets | 354 | 141 |
| Other assets | 3,454 | 2,130 |
| Total assets | 192,770 | 92,079 |
| Liabilities, Redeemable Convertible Preferred Stock, and Shareholders’ Equity | ||
| Current liabilities | ||
| Accounts payable | 8,243 | 11,792 |
| Deferred revenue, current | 7,977 | 6,111 |
| Debt and finance leases, current (related party of $2,039 and $455 at June 30, 2026 and December 31, 2025, respectively) | 2,525 | 928 |
| Accrued expenses and other current liabilities | 2,377 | 2,569 |
| Total current liabilities | 21,122 | 21,400 |
| Long-term liabilities | ||
| Deferred revenue, net of current | 6,309 | 6,005 |
| Debt and finance leases, net of current (related party of $11,290 and $4,052 at June 30, 2026 and December 31, 2025, respectively) | 36,839 | 21,968 |
| Other liabilities | 1,276 | 1,381 |
| Total liabilities | 65,546 | 50,754 |
| Commitments and contingencies (Note 16) | ||
| Redeemable convertible preferred stock | ||
| Redeemable convertible preferred stock, par value $0.001; and 2,351 shares issued; — and 2,046 shares outstanding as of June 30, 2026 and December 31, 2025, respectively | — | 38,752 |
| Shareholders’ equity | ||
| Preferred stock, par value $0.001; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Class A common stock, par value 0.001; 7,607 and 2,036 shares issued; 7,607 and 1,952 shares outstanding as of June 30, 2026 and December 31, 2025, respectively | 7 | 3 |
| Class B common stock, par value $0.001; 5,569 and 644 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 6 | 1 |
| Class C common stock, par value $0.001; and 482 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | — | 0 |
| Additional paid-in capital | 167,344 | 37,706 |
| Accumulated deficit | (41,852) | (37,035) |
| Accumulated other comprehensive income | 1,719 | 1,898 |
| Total shareholders’ equity | 127,224 | 2,573 |
| Total liabilities, redeemable convertible preferred stock, and shareholders’ equity | 192,770 | 92,079 |
Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | (4,817) | (1,536) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 5,290 | 2,970 |
| Share-based compensation | 1,470 | 694 |
| Deferred income taxes | (9) | 120 |
| Unrealized (gain) loss on digital assets | 539 | (252) |
| Impairment and loss on disposal of fixed assets, net | 40 | 54 |
| Loss on debt extinguishment | 1,545 | — |
| Other | (72) | 126 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (2,003) | (470) |
| Inventory | (827) | (360) |
| Prepaid expenses and other assets | 102 | (2,125) |
| Accounts payable | (88) | 309 |
| Deferred revenue | 2,169 | 680 |
| Other liabilities | 127 | 141 |
| Net cash provided by operating activities | 3,466 | 351 |
| Cash flows from investing activities | ||
| Purchases of property, plant, and equipment (related party of $329 and $101 for June 30, 2026 and 2025, respectively) | (28,476) | (6,965) |
| Capitalized interest | (20) | (22) |
| Proceeds from product rebates | 1,195 | — |
| Purchases of marketable securities | (13,630) | (601) |
| Maturities of marketable securities | 7,248 | 543 |
| Proceeds from sales of marketable securities | — | 1,173 |
| Investments in unconsolidated affiliates | — | (86) |
| Payments for intangible assets | (856) | — |
| Other investing activities, net | 52 | (74) |
| Net cash used in investing activities | (34,487) | (6,032) |
| Cash flows from financing activities | ||
| Principal repayments on finance leases | (173) | (137) |
| Proceeds from debt and other financing obligations | 51,812 | 10,943 |
| Payment of debt issuance costs | (124) | (61) |
| Repayments on debt and other financing obligations | (39,396) | (5,990) |
| Payment of debt extinguishment premium | (1,153) | — |
| Proceeds from issuance of capital stock, net of issuance costs | 8,319 | 5,047 |
| Proceeds from employee equity award plans | 316 | 155 |
| Payments for repurchase of common and redeemable convertible preferred stock | (4,426) | (520) |
| Taxes paid related to net share settlement of equity awards | (559) | (238) |
| Proceeds from IPO, net of underwriting commissions and offering costs | 85,675 | — |
| Net cash provided by financing activities | 100,291 | 9,199 |
| Effect of exchange rate changes on cash and cash equivalents | (42) | 75 |
| Net change in cash and cash equivalents and restricted cash | 69,228 | 3,593 |
| Cash and cash equivalents and restricted cash, beginning of the period | 25,124 | 11,501 |
| Cash and cash equivalents and restricted cash, end of the period | 94,352 | 15,094 |
Amounts as printed on the EDGAR/iXBRL face — (in millions, except per share data); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗