Spacex's Second-quarter Revenue Grew 92% to $7.8 Billion, With a Net Loss of $541 Million

SpaceX said Starlink's paid subscribers reached 12 million, with first operational V3 satellites set to launch on the next Starship test flight. The company reported second-quarter results for 2026, showing Starlink added 1.7 million new users in the April-June period, doubling its total subscriber count year over year. Despite price hikes on residential plans in May and expired promotions, growth continued.

Connectivity revenue rose 32% quarter over quarter and 66% year over year to $4.3 billion, while average monthly revenue per user stayed flat at $66, which SpaceX attributed to global expansion and local pricing. CEO Elon Musk said the 14th Starship test flight will place V3 Starlink satellites, capable of gigabit speeds, into operational orbit for the first time. In last month's test, V3 satellites re-entered the atmosphere and were destroyed after about 20 minutes, but the company confirmed communication via radio frequency and laser links and successful telemetry collection.

Musk said Starlink needs about 1,000 V3 satellites to offer speed increases, achievable by the second quarter of next year, with each Starship launch targeting 60 V3 satellites. Revenue from enterprise and government customers rose 63% quarter over quarter and 108% year over year to $1.8 billion, and Musk expects long-term enterprise revenue to exceed consumer revenue. SpaceX's second-quarter revenue grew 92% to $7.8 billion, with a net loss of $541 million. The company ended the period with $100 billion in cash and equivalents and a $47.5 billion order backlog.