SpaceX Q1 Report: Losses Beat Forecasts, Revenue Surges 90%

SpaceX announced its Q1 results, showing losses far below expectations and revenue nearly doubling.

Sales Surge and Revenue Boom

■$7.8 billion revenue, up 90% YoY.

■Loss $541 million, 9 cents per share, roughly 50% better than forecasts.

■Stock rose 9% during regular trading but gave back most gains after hours.

Starlink’s Explosive Growth

■Subscribers hit 12 million, a 100% YoY increase.

■Connectivity revenue jumped 66%.

■Musk said “Starlink could eventually deliver a majority of global internet.”

Investor Concerns and Lockup Release

■Insider‑sell window opens for up to 900 million shares, more than doubling float.

■AI chatbot Grok and space‑travel ambitions face skepticism.

■CFO Bret Johnsen expects similar capital expenditures for the next two quarters.

Forward‑Looking Capex and AI Playbook

■Infrastructure and R&D spending rose to $18 billion from $3 billion a year ago.

■Musk claims the outlays will push the company to $1 trillion in annual revenue by 2030.

■Starship reusability test slated for end‑of‑month; NASA eyes a 2028 lunar landing.

Dr. Yaman Ege: While SpaceX’s aggressive capex fuels short‑term stock volatility, the scalability of Starlink and AI integration underpin a strong long‑term value case. The impending lockup release could pressure liquidity and amplify market sensitivity, urging investors to adopt a cautious risk‑management stance.