SpaceX swings to a $4.4 billion third-quarter profit as revenue jumps 161% on its super intelligence unit

SpaceX swung to a third-quarter profit as revenue more than doubled, powered by its Super Intelligence business and fast growth at Starlink.

Net income was $4.40 billion, or $0.35 a diluted share, compared with a net loss of $1.05 billion, or $0.36 a share, a year earlier, according to its earnings release filed with an 8-K on Tuesday. Revenue rose 161% to $14.58 billion from $5.58 billion, and operating income was $2.79 billion versus an operating loss of $273 million.

Adjusted EBITDA, a non-GAAP measure, climbed to $8.81 billion from $2.17 billion. The income statement shows a $390 million income tax benefit in the quarter.

Super Intelligence takes the lead

The SI segment became the company's largest, with revenue of $7.56 billion, up from $813 million a year earlier and $2.56 billion in the second quarter. SpaceX credited new cloud services agreements, the Cursor acquisition and growing adoption of Grok across enterprise customers and consumers. The segment earned $431 million from operations, including $1.2 billion of share-based compensation tied to Cursor.

SpaceX completed the Cursor deal on Aug. 14 at an implied equity value of $60 billion, and Cursor contributed $608 million of revenue through Sept. 30, the release said. Nameplate compute reached 1.7 gigawatts, up from 0.6 gigawatts a year earlier.

Starlink and launch

Connectivity revenue rose 69% to $5.25 billion, and the segment's operating income nearly doubled to $2.37 billion. Starlink consumer subscribers reached 13.6 million, up from 7.2 million a year ago, with monthly consumer revenue per user of $69 versus $83.

The Space segment brought in $1.77 billion of revenue, up 6%, and posted a $7 million operating loss as Starship research spending rose. SpaceX said it flew its first revenue-generating Starship mission, delivering 26 Starlink V3 satellites.

Heavy spending

Capital expenditures totaled $19.59 billion in the quarter, including $16.44 billion for the SI segment, up from $6.88 billion company-wide a year earlier. The cash flow statement shows $4.43 billion of payments for repurchases of common and redeemable convertible preferred stock in the first nine months.

By the numbers

• Revenue: $14.58 billion, up 161%
• Net income: $4.40 billion, vs. a $1.05 billion loss
• Diluted EPS: $0.35, vs. a $0.36 loss
• SI revenue: $7.56 billion, vs. $813 million
• Starlink consumer subscribers: 13.6 million
• Q3 capex: $19.59 billion

Sources

1. Space Exploration Technologies Corp., Form 8-K (Item 2.02) with Exhibit 99.1 third quarter 2026 earnings release, filed Oct. 20, 2026, accession 0001628280-26-066482

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Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.