SpaceX Reports $4.4 Billion in Net Income in Q3 2026
Key Facts
SpaceX reported net income of $4.4 billion in the third quarter of 2026, alongside operating income of $2.8 billion and adjusted earnings before interest, taxes, depreciation and amortization of $8.8 billion. The company reported the figures in its filing with the U.S. Securities and Exchange Commission. The results were announced on October 20, according to EL7 data. Net income therefore exceeded operating income, making non-operating earnings components an important part of the results. The results also showed an expansion in spending on operating infrastructure, alongside the diversification of the company's activities across connectivity and artificial intelligence.
Connectivity segment revenue was $5,248 million in the quarter, compared with $7,560 million for the superintelligence segment, according to the company's filing. The connectivity segment recorded operating income of $2,367 million. These figures place connectivity as the activity with reported operating profitability among the two segments in the filing. Revenue from the superintelligence segment exceeded connectivity revenue during the period, according to the published figures. SpaceX said nominal computing capacity reached 1.7 gigawatts on September 30, indicating the scale of infrastructure it has built for the business.
Net income included an unrealized gain of $561 million on SpaceX's investment in The Boring Company, recorded under other income. The filing linked the gain to a revaluation of the investment after the company's funding round in September 2026. This accounting gain does not represent realized operating income from connectivity or artificial intelligence. Interest income also rose by $718 million, or 463.2%, compared with the same period. SpaceX attributed the increase to returns on cash and securities following its stock offering and bond issuance at the end of June.
The company paired income growth with high capital spending: total capital expenditure was $19,593 million in the third quarter of 2026, compared with $6,880 million a year earlier. Of the capital spending, $16.444 billion went to the superintelligence segment, versus $4.760 billion in the third quarter of 2025. This shows that a large share of investment went to computing-related infrastructure. On September 30, cash and cash equivalents stood at $51.294 billion, while short-term securities reached $38.561 billion. The company also said it had $5 billion available to borrow under a credit facility.
SpaceX shares moved higher after the results were announced, rising 7.8% in trading on Wednesday, October 21, according to the Associated Press. The stock closed at $144.75 on October 22, according to EL7 data. The results announcement had come two days before that day's close, on October 20. In a move to expand connectivity, SpaceX announced an agreement on October 8 to acquire a portfolio of low-band spectrum licenses covering the United States. The deal includes up to 14 megahertz of paired spectrum in the 800-megahertz band, with completion expected in the first half of 2027, subject to approvals.
The company's schedule also includes the Starship launch program. The Associated Press said SpaceX will attempt, in the launch scheduled for the following month, to catch the booster and ship with mechanical arms as they return to the base. The attempt will test the vehicle's reusability, according to the report. The move comes alongside capital expenditure that rose to $19,593 million during the quarter. The spectrum licensing agreement is also expected to be completed in the first half of 2027, if it receives the required approvals. The quarterly results remain a mix of operating income, unrealized gains and interest returns, alongside extensive capital investment.