SpaceX reported a smaller-than-expected quarterly loss in its first earnings report as a public company, with revenue surging more than 90 percent from a year earlier to beat analyst forecasts. The stronger sales, however, were overshadowed by a sharp jump in capital expenditures that spooked investors and dragged the stock lower.
Chief Executive Elon Musk used the earnings call to outline ambitious plans for moon robots and reiterated the company's long-held target of generating $1 trillion in annual revenue. Musk had earlier described the lunar robot concept as ‘totally nuts,’ underscoring the scale of his vision.
The financial results mark the first time the rocket-and-AI company has disclosed quarterly figures as a listed entity. Revenue growth outpaced expectations, but the rapid rise in spending raised questions about how long the company can keep investing at such a pace while still turning a profit.
Analysts said the loss was smaller than anticipated, a positive sign, but noted that investor confidence could hinge on how quickly SpaceX manages to convert its aggressive spending into sustainable earnings. Musk remains confident that the $1 trillion target is achievable, but the market's immediate reaction focused on the mounting costs tied to expansion.
SpaceX did not provide a timeline for when it expects to reach the revenue goal. The company continues to invest heavily in its rocket launch business and new ventures, including robotics and satellite services.