Connectivity (Starlink)
The satellite broadband business and the most profitable segment. Starlink ended Q3 2026 with 13.6M consumer subscribers (up 1.6M in the quarter; 7.2M a year earlier) at $69 consumer ARPU, plus 3,800+ aircraft equipped.
SpaceX stock trades on the Nasdaq under the ticker SPCX. Space Exploration Technologies Corp. priced its IPO at a fixed $135.00 on June 11, 2026 — about $86 billion gross with the greenshoe, the largest IPO ever — and began trading on June 12. The stock ran to an all-time high of $225.64 on June 16, broke below the IPO price in mid-July and hit an all-time low of $104.83 on Aug 3, days before the first lock-up release. After Q2 results on Aug 4 and that first tranche on Aug 6, shares rallied to an intraday $176.42 on Oct 6. The Oct 20 Q3 report showed revenue up 161% to $14.58B and SpaceX's first profitable quarter as a public company; the pullback that followed coincided with a larger post-Q3 lock-up tranche becoming eligible. SPCX closed at $141.31 on Nov 3 — +4.7% vs. the IPO price, −37% vs. the peak.
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The strip above the chart carries the last SPCX print, the change on the session, and the day's range. It updates through regular Nasdaq hours — 9:30 a.m. to 4:00 p.m. Eastern — and goes static outside them, so an unchanged price at 7 a.m. ET is the previous close, not a stalled feed.
Switch the interval on the live chart to change what you are actually looking at. Intraday candles show the session's liquidity pattern; a daily or weekly view is the one that puts the post-IPO round trip in context. SPCX only has price history back to June 12, 2026, so a six-month view is already the whole life of the stock — the June spike, the summer slide to $104.83 and the autumn recovery.
The histogram beneath the candles matters more than usual here. SPCX listed with a free float of only about 5% of shares outstanding (638.9M of ~13.2B), and that float has grown in steps as lock-up tranches released, so the bars around eligibility dates such as Aug 6 and Oct 22 are worth a look — see the SPCX lock-up schedule and the SpaceX cap table. A still-young float is why the intraday swings are wide and why limit orders beat market orders.
The company-profile and fundamental-data panels pull the same figures SpaceX filed with the SEC. For the underlying statements — $18.67B of FY2025 revenue against a ~$4.94B net loss, then Q3 2026 revenue of $14.58B and net income of $4.40B — read the SpaceX financial statements rather than the summary tiles.
FY2025 net loss: ~$4.94B on a $(2.59)B operating loss — the AI segment's $(6.36)B operating loss outweighed Connectivity's $4.42B operating profit; adjusted EBITDA was $6.58B. Q3 2026 swung to $4.40B of net income, the first profitable quarter as a public company; the nine months to Sept 30 still show a $(413)M net loss.
SpaceX reports three segments. Starshield is not broken out separately. Source: S-1 and the Q3 2026 8-K.
The satellite broadband business and the most profitable segment. Starlink ended Q3 2026 with 13.6M consumer subscribers (up 1.6M in the quarter; 7.2M a year earlier) at $69 consumer ARPU, plus 3,800+ aircraft equipped.
Falcon and Dragon launch services for NASA, national-security and commercial customers, plus Starship development. SpaceX flew 35 launches in Q3 (12 for customers, 23 internal), and the segment came in near break-even.
The renamed AI segment: xAI's Grok, the X platform, Cursor (acquired Aug 14 at an implied $60B) and AI compute rented to Google, Anthropic and others. Now the largest segment by revenue, with 1.7 GW of nameplate compute.
A program, not a reported segment. Starship Flight 14 in late September was the first orbital Starship flight, deploying 26 Starlink V3 satellites; Flight 15 is planned next, with a booster-and-ship catch attempt.
SpaceX reports three segments — Connectivity, Space and Super Intelligence. Starshield, the government constellation, is not reported separately, and the filings do not break out its revenue. Super Intelligence operating income is after $1.22B of acquisition-related stock compensation, mostly for Cursor.
Any U.S. broker with Nasdaq access carries SPCX — Fidelity, Schwab, Robinhood, Interactive Brokers, E*TRADE. Most waive commissions on stock trades.
ACH transfer typically clears in 1–3 business days. Wire transfers settle same-day if you want cash ready sooner.
More stock can still come to market: the remaining standard 180-day lock-up ends in early December 2026, and Musk and other insiders are locked up until roughly mid-June 2027 — see the SPCX lock-up schedule. The Q4/FY2026 report date has not been announced; SpaceX posts earnings dates on its investor-relations site and by press release, typically a few weeks ahead.
Use a limit order, not a market order. SPCX still swings several percent in a session — +7.79% on Oct 21, −9.14% on Oct 22 — and thin early-morning liquidity makes execution price critical.
Revenue rose 161% to $14.58B, ahead of the ~$12.72B consensus (CNBC), and net income came in at $4.40B — GAAP diluted EPS $0.35 — helped by $1.03B of other income and a $390M tax benefit. Adjusted EBITDA was $8.81B. Per the Q3 8-K, Super Intelligence is now the largest segment.
SPCX touched $176.42 intraday on Oct 6. After the Q3 report it rose 7.79% to $159.31 on Oct 21, then fell 9.14% to $144.75 on Oct 22 — the same window in which the large post-Q3 lock-up tranche became eligible. It closed at $134.72 on Oct 30 and $141.31 on Nov 3.
On the Q3 call, Musk said both companies had formed special committees to consider a combination; they "have not reached agreement on the terms of any transaction" (CNBC).
~911.5M shares became eligible on Aug 6 and up to ~1.3B more after the Q3 report. The remaining standard 180-day lock-up ends in early December; Musk and insiders are locked up to roughly mid-June 2027. IFR puts more than $500B of stock eligible between August and year-end. See the SPCX lock-up schedule.
Starship reached orbit and deployed 26 Starlink V3 satellites, according to SpaceX's Q3 release. Flight 15 is planned next, with an attempt to catch both the booster and the ship.
Announced with Q2 results and completed Aug 14 at an implied $60B equity value. Cursor now sits in the Super Intelligence segment, whose Q3 operating income of $431M is after $1.22B of acquisition-related stock compensation, mostly for Cursor.
Revenue of $7.81B (+92%), a $(541)M net loss and EPS of $(0.09) against ~$(0.26) expected. Shares fell as much as ~8% after hours on capex concerns — $18.37B in the quarter, $15.83B of it for AI. SpaceX also issued $25B of bonds. Q2 8-K.
SPCX broke below $135 for the first time in mid-July and hit an all-time low of $104.83 intraday on Aug 3, days before the first lock-up release. When ~911.5M shares became eligible on Aug 6, the stock rose ~6% that day and nearly 16% the next (CNBC).
In July, outlets including TradingKey and IBTimes reported a lawsuit seeking to shut the gas turbines powering Colossus 2, which they said could imperil part of a reported $45B Anthropic compute contract; no court ruling or confirmed shutdown has been found. In October, a federal judge denied the DOJ's bid to dismiss an NAACP Clean Air Act suit over turbines at the Memphis-area Colossus data centers (CNBC).
Nasdaq's fast-entry rule added SPCX on July 7, 15 trading days after listing, at a ~1.3% weight. S&P declined to fast-track it, and its profitability and seasoning rules left SPCX ineligible (CNBC, June 26); there had been no S&P 500 inclusion as of Nov 4.
At the Nov 3 close, SPCX trades at roughly 60× trailing-twelve-month revenue (~$32.0B), ~103× FY2025 revenue and ~33× Q3 annualized revenue (~$58.3B) — all derived figures. SpaceX said on the call it targets a ~$100B annualized revenue run-rate by December 2026. As of July, Morningstar's fair-value estimate was near $780B.
Class B shares carry 10 votes and convert to Class A on sale. At the IPO, Musk held more than 5.5B Class B shares — roughly 42% of the equity and about 82% of the voting power, per the prospectus as reported — under a 366-day lock-up to mid-June 2027. Track his holdings via Form 4 filings on EDGAR.
Yes. SPCX began trading June 12, 2026 on the Nasdaq after SpaceX priced its IPO at a fixed $135.00 on June 11. It opened at $150, closed the first day at $161.11 — up 19.3% — and hit an all-time high of $225.64 intraday on June 16. The stock broke below the IPO price in mid-July and set an all-time low of $104.83 intraday on Aug 3, 2026, then recovered; it closed at $141.31 on Nov 3, 2026, +4.7% vs. the IPO price. SPCX has been in the Nasdaq-100 since July 7, 2026; it is not in the S&P 500.
At the Nov 3, 2026 close of $141.31, SpaceX's market cap is about $1.9 trillion (13.58B shares outstanding at Sept 30). The IPO at $135.00 valued the company at roughly $1.77 trillion — the largest IPO ever, with 638.9M Class A shares sold including the greenshoe, ~$86B gross and ~$85.7B net. At the June 16 peak of $225.64 the market cap briefly neared $3 trillion. On derived figures, the Nov 3 price is roughly 60× trailing-twelve-month revenue (~$32.0B) and ~33× Q3 2026 annualized revenue. See the SpaceX valuation analysis.
For one quarter so far, yes. In Q3 2026, reported Oct 20, SpaceX posted net income of $4.40B on revenue of $14.58B, up 161% — its first profitable quarter as a public company; GAAP diluted EPS was $0.35. Pre-tax income of $4.01B was helped by $1.03B of other income, and a $390M tax benefit lifted net income above it. Q2 2026 was a $(541)M net loss, the nine months to Sept 30 a $(413)M net loss, and FY2025 a net loss of ~$4.94B. See SpaceX earnings.
Per the S-1, $18.67B of consolidated revenue in 2025, up from $14.02B in 2024 and $10.39B in 2023. SpaceX reports three segments: Connectivity (Starlink) $11.39B (61.0%), Space $4.09B (21.9%) and AI $3.20B (17.1%). Starshield is not reported as a separate segment. By Q3 2026 the mix had shifted: Super Intelligence — the renamed AI segment — was ~52% of revenue, Connectivity ~36% and Space ~12%. Full detail in the SpaceX financial statements.
It is staggered, not a single date. A first tranche of ~911.5M shares became eligible on Aug 6, 2026. IFR's reading of the prospectus points to further tranches of up to ~328.4M shares each at 70, 90, 105, 120 and 135 days after the IPO, and up to ~1.3B more following the Oct 20 Q3 report. The remaining standard 180-day lock-up ends in early December 2026 (Dec 8 is the 180th day after pricing), and Musk and other insiders are under a 366-day lock-up to roughly mid-June 2027. Eligible for sale does not mean sold. See the full SPCX lock-up schedule.
Any U.S. broker with Nasdaq access can fill an order — use a limit order, not a market order; SPCX still moves several percent in a session. Since the July 7 Nasdaq-100 inclusion, index funds like QQQ also hold SPCX (it is not in the S&P 500), and the Cambria ERShares Private Investments ETF (XOVR) remains an indirect route. See our step-by-step guide.
SpaceXChart does not make buy or sell calls. The bull case rests on Starlink growth (13.6M consumer subscribers at Q3), the first profitable quarter, Starship reaching orbit, and SpaceX's stated target of a ~$100B annualized revenue run-rate by December 2026. The bear case is the multiple (~60× trailing revenue on derived figures), heavy AI capex ($19.6B in Q3, with $35–40B guided for Q4), lock-up supply through mid-2027, Musk key-person risk and legal risk around the Colossus data centers. As of July, Morningstar's fair-value estimate was near $780B. Read our valuation analysis for both sides. This site is not investment advice — see disclaimer.
No. SpaceX uses a dual-class structure: Class A (public) gets 1 vote per share; Class B gets 10 votes per share and converts to Class A when sold. At the IPO, Musk held more than 5.5 billion Class B shares — roughly 42% of the equity and about 82% of the voting power, per the prospectus as reported. His shares are under a 366-day lock-up to roughly mid-June 2027; for his current count, check his Form 4 filings on SEC EDGAR. See the Class A vs. Class B explainer.
Per the S-1 risk factors and events since listing: (1) capex — $19.6B in Q3 2026, $16.4B of it in Super Intelligence, with $35–40B guided for Q4; (2) lock-up supply — the remaining 180-day lock-up ends in early December and the insider lock-up in mid-June 2027; (3) legal and regulatory risk — in October a federal judge denied the DOJ's bid to dismiss an NAACP Clean Air Act suit over turbines at the Memphis-area Colossus data centers; (4) Starship execution — Flight 14 reached orbit, and Flight 15 plans a booster-and-ship catch attempt; (5) Musk key-person risk and a possible Tesla tie-up — both companies have special committees considering a merger, with no agreed terms; (6) customer concentration in U.S. government contracts; (7) valuation. See the full SPCX risk factors.