Space Exploration Technologies Corp: Beat — EPS $0.35, Revenue $14.58B
Earnings BeatQ3 2026 · After-market
Did Space Exploration Technologies Corp (SPCX) beat earnings?
Yes, Space Exploration Technologies Corp (SPCX) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+118.75% surprise
$0.35Actual
Expected: $0.16
vs. year ago +197.2%
Total Revenue+12.12% surprise
$14.58BActual
Expected: $13B
vs. year ago +161.0%
Released Oct 20 · 4:02 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $14.57B | $5.58B | +161.0% |
| Revenue detail — reported lines | |||
| └─Space | $1.77B | $1.67B | +6.0% |
| └─Launch services | $1.13B | $1.00B | +13.0% |
| └─Launch & development | $637.00M | $666.00M | -4.4% |
| └─Connectivity | $5.25B | $3.10B | +69.0% |
| └─Consumer revenues | $3.12B | $1.99B | +57.0% |
| └─Enterprise & government | $2.13B | $1.11B | +91.0% |
| └─SI | $7.56B | $813.00M | +830.0% |
| └─Advertising revenues | $538.00M | $454.00M | +18.5% |
| └─SI solutions & infrastructure | $7.02B | $359.00M | +1856.0% |
| Net income (loss) | $4.40B | $(1,054M) | - |
| Basic | $0.37 | $(0.36) | - |
| Diluted | $0.35 | $(0.36) | - |
Business Highlights
- ➤Completed Starship Flight 14, the first orbital Starship flight, deploying 26 Starlink V3 satellites.
- ➤Delivered NASA’s Nancy Grace Roman Space Telescope mission among 12 customer launches.
- ➤Signed three additional NASA ISS Crew missions and 18 National Security Space Launch missions.
- ➤Signed three commercial Starfall missions and a Starship lunar-payload delivery contract.
- ➤Announced planned Starbase, Louisiana, targeting its first launch in 2029.
- ➤Reached more than 3,800 aircraft equipped with Starlink through aviation partnerships.
- ➤Entered an agreement to acquire 800 MHz spectrum licenses for Starlink Mobile.
- ➤Expanded COLOSSUS II as nameplate compute reached 1.7 GW.
- ➤Signed additional cloud-services agreements for third-party SI infrastructure capacity.
- ➤Accelerated Grok model deployments and introduced the always-on agentic Grok Bot.
- ➤Completed the Cursor acquisition on August 14, 2026.
- ➤Cursor acquisition advances vertical integration of compute infrastructure, SI models, and applications.
Management Commentary
CFO
“We delivered another strong quarter in Q3. Revenue grew an impressive 161% year-over-year, fueled by continued momentum in Connectivity and a clear inflection in our Super Intelligence business. The combination of our launch leadership, recurring Starlink revenue, and the significant expansion of our SI infrastructure continues to drive meaningful operating leverage.”
CFO
“We are building the infrastructure of the future with discipline — focused on capital efficiency, strong returns on invested capital, and maintaining a robust, investment-grade balance sheet — while moving with the velocity to capture the opportunity in front of us.”