⏳ Upcoming event · SPCX
Q3 2026 Earnings Report
Expected window: late October – early November Estimated — date not yet confirmed
You'll get a T-24h alert the moment the date is official, and a plain-English breakdown within 30 minutes of the release.
📊 Last time out (Q2, reported for period ending Jun 30)
SpaceX is still loss-making per share (TTM EPS −$0.75) — normal for a company building two businesses at once. What matters is whether losses shrink as Starlink scales. Q2 said yes. Source: Finnhub earnings data
🎯 The 4 numbers that matter this time
1. Starlink subscriber growth
The engine of the whole valuation. Watch the net adds — and whether Venezuela/India launches (both announced this week) show up in guidance.
2. Direct-to-phone: first revenue words
Friday's FCC clearance is potentially the biggest new business since Starlink itself. Any comment on pricing, carrier deals or launch timing moves the stock.
3. Launch cadence & Starship milestones
Launch revenue is the cash cow funding everything else. Cadence = cash. Starship progress = the Mars optionality priced into a $2.1T market cap.
4. Debt & gross margin
Dalio just put SpaceX's balance sheet in the bubble debate. TTM gross margin is 50.8% — if it holds while capex rises, the debt story loses teeth. If it slips, expect a rough call.
⚠️ Volatility warning
SPCX has a beta of 4.93 and only one earnings report as a public company — there's no reliable "usual move" to lean on. Treat any historical-average you see elsewhere as made up. A double-digit swing on report day is entirely possible in either direction, whatever the numbers say.