NEW YORK: SpaceX will release its first quarterly earnings report as a publicly traded company on August 4, the rocket and AI giant said Monday on its investor relations website.

The Elon Musk-led company, which trades under the ticker SPCX on the Nasdaq exchange, is scheduled to report results after markets close that day, at 2130 GMT. The figures will cover the second quarter, which ended June 30.

The announcement comes as shares in the company have fallen well below their initial public offering price.

SpaceX went public on June 12 at $135 a share, with the stock later soaring as high as $225.64 and pushing the company's valuation above $2.6 trillion.

Shares have since tumbled, closing at $119.85 on Monday -- more than 45% below their post-IPO peak.

The company, which reported a loss of $4.3 billion last year in its IPO filings, has a long-term goal of developing data centers in space. Analysts do not expect profitability anytime soon.

SpaceX now operates three divisions: a launch and space unit, the Starlink satellite internet service, and an artificial intelligence arm that includes the Grok chatbot and social media platform X.

Starlink, the company's only consistently profitable business, had 10.3 million subscribers as of the first quarter, with revenue up about 50% year-on-year, according to SpaceX's IPO filing.

The AI division, weighed down by heavy data center spending, posted steep losses last year.

Crucially, the earnings report will also trigger the first scheduled unlock of insider shares, freeing up stock that has been restricted from sale since the IPO.

That could add further pressure on the price if shareholders decide to sell.

Articles tagged with "Aerospace"

SpaceX to report first earnings as public company on August 4