STARBASE, TEXAS / RankWire.AI / – SpaceX experienced a 13.6% decline in its stock price on August 5, closing at $108.27. The decline came after the company issued its first quarterly report following its June initial public offering. Investors weighed the company’s significant revenue growth against an $18.37 billion capital expenditure during the quarter. Notably, AI infrastructure costs reached $15.83 billion, a sharp increase from $749 million a year earlier.
During the trading session, the stock dipped as low as $107.18 and finished nearly 20% below its $135 IPO price. Through the offering, SpaceX sold 638.9 million Class A shares, including the full underwriters’ option, raising net proceeds of roughly $85.68 billion. Trading on Nasdaq commenced on June 12, with the shares later peaking at $201.80.
In the second quarter, SpaceX reported revenues of $7.81 billion, marking a 92% increase from $4.07 billion a year earlier. The company reduced its net loss to $541 million from approximately $1.01 billion. Its operating loss decreased to $143 million from $970 million in the same period. Adjusted EBITDA stood at $3.54 billion.
AI Investment Growth Accelerates
The AI division generated $2.56 billion in quarterly revenue, representing a 247.5% increase from $737 million. The rise was primarily driven by new AI services and infrastructure, which contributed $1.88 billion. Meanwhile, advertising revenue declined by $59 million for the quarter. The division posted a $1.26 billion operating loss, with research and development spending climbing 94.1% to $2.18 billion.
Starlink and other connectivity services continued to be SpaceX’s dominant revenue generators. Connectivity sales increased 65.8% to $4.29 billion, and operating income grew 79.4% to $1.66 billion. Subscriber growth among consumers reached 101.2%, although average revenue per user decreased by 22.4%. Revenue from government, aviation, maritime, and enterprise sectors added another $939 million.
Major Share Unlocking Post-IPO
Beginning August 6, up to 911.5 million employee and early investor shares become eligible for sale. This amount represents approximately 6.9% of SpaceX’s total 13.18 billion Class A and Class B shares outstanding. It surpasses the shares sold during the IPO by around 272.6 million. The company detailed the phased release schedule in its SEC filing, specifically in its prospectus.
At the August 5 closing price, the initial unlocked block of shares had an approximate notional value of $98.7 billion. As of July 28, SpaceX reported holding 7.70 billion Class A shares and 5.49 billion Class B shares. The company finished June with $93.52 billion in cash and $6.49 billion in marketable securities. August 6 marks the first trading day when eligible shareholders can sell shares from the initially restricted group.
}dominent