Third-quarter revenue rose 161% to $14.6bn ($12.7bn expected). Super Intelligence (formerly AI) was the standout unit, with revenue rising more than ninefold, driven by new cloud services deals and the Cursor acquisition. Connectivity (Starlink) revenue grew 69%.
Operating profit came in at $2.8bn ($2.1bn expected), up from a loss of $273mn last year, as the Super Intelligence unit turned profitable.
Free cash outflow was $10.0bn ($8.0bn outflow expected), as capital expenditure rose to $19.6bn, with the bulk directed toward the Super Intelligence business. Net cash, including lease liabilities, was $51.0bn at the end of the quarter.
SpaceX expects to end 2026 with $100bn of annualised revenue, based on December's sales. Fourth-quarter capital expenditure should rise to $35-40bn, while gross margins are expected to dip. First-quarter 2027 revenue is guided at $33-37bn.
The shares rose 8.1% in after-hours trading.
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SpaceX key facts
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