SpaceX just executed a successful IPO.
Now, investors are waiting for SpaceX’s first earnings report.
The Space Explorations Technology Corp. (NASDAQ: SPCX) IPO has already exceeded many analyst expectations. Consider the warnings from Morningstar analysts on June 9 — days before the record-breaking IPO.
“The SpaceX IPO is shaping up to be one of the largest and most closely watched market debuts in recent memory,” the Morningstar report began. “The valuation, however, deserves more careful scrutiny.”
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
After an independent analysis, Morningstar concluded that SpaceX’s current business should only be valued at $780 billion — less than one-third of its current market cap. “We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO,” its report concluded.
Image source: Getty Images.
With SpaceX stock already up by more than 30% since its IPO day, Morningstar’s analysts may already be scratching their heads. But the road ahead will be long. SpaceX will need to continually prove its ability to execute on long-shot opportunities with massive growth potential to keep investors interested in its multitrillion-dollar market cap.
When will we get the first official update from SpaceX outlining its post-IPO spending to execute critical growth milestones? The company’s first big reveal should occur within the next few months.
Wall Street analysts expect the first SpaceX earnings report to occur sometime in late July or early August. While it will be the company’s first official earnings disclosure, technically it will be classified as the company’s second-quarter results.
SpaceX CEO Elon Musk has a long history of making surprising comments on earnings calls. On Tesla (NASDAQ: TSLA) earnings calls, for example, he has predicted “record-breaking” revenues, previously unannounced product launches, and technology rollouts with timelines that seem highly aggressive, if not outright impossible. Expect the same Musk to appear on SpaceX’s earnings call.
What exactly will Musk be commenting on? Wall Street will likely care most about progress on the company’s Starlink internet segment. That segment produces the most cash for the company, with impressive growth rates and earnings before interest, taxes, depreciation, and amortization (EBITDA) margins.
But I’m not sure if this is the segment the market cares about most long-term. After all, the vast majority of SpaceX’s claimed total addressable market has nothing to do with Starlink. The public, I’m predicting, will care most about two things: rockets and AI.
I expect Musk to provide bullish updates on the company’s Starship megarocket, a key enabler for the rest of the company’s space-based growth initiatives. I also expect Musk to provide details surrounding the company’s capital expenditures on AI infrastructure. That includes both the continued rollout of its terrestrial data center facilities and progress on the potential launch of orbital data centers.
Following the publication of the company’s 370-page IPO prospectus, I don’t expect any major changes to SpaceX’s core narrative. But armed with more than $75 billion in fresh capital, I’m looking forward to Musk’s commentary regarding how that money is being spent, as well as key catalysts to expect in the coming months and years.
Before you buy stock in Space Exploration Technologies, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Space Exploration Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $415,040!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,256,076!*
Now, it’s worth noting Stock Advisor’s total average return is 920% — a market-crushing outperformance compared to 207% for the S&P 500. Don’t miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 18, 2026.
Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
