SpaceX braces for first earnings as shares slide ahead of insider lockup

SpaceX will report its Q2 results as its first earnings release as a public company, with the stock under pressure after about a 30% drop from its IPO. An upcoming insider lockup could release up to roughly 20% of shares, adding supply. Analysts expect around $6.81 billion in Q2 revenue and an adjusted loss per share of about $0.24, with EBITDA near $2 billion; capex is projected to rise toward $118 billion by 2028 and debt to grow. Investors will focus on SpaceX’s AI infrastructure investments, Starlink, Starship development, and potential Musk-driven strategic moves (including talks of a Tesla merger) as catalysts and risks for the stock.