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SpaceX

SPCX·NASDAQ·USD

148.58+1.68 (+1.14%)
Regular-session close·Definitions
Price history2026-06-12 — 2026-10-23Valid trading days: 92 · Unverified dates: 1 · Through 2026-10-23 · All expected trading dates since listing are present · History update delayed
Operating history2025-06-30 — 2026-09-307 historical metrics · 4 workpaper periods
Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The first price observation reaches the verified listing date. This does not mean that security continuity, every trading day and adjusted prices have all been verified throughout the history.

The first price reaches the verified listing date 2026-06-12. Trading-date coverage and price verification are shown separately below.

Trading dates checked for 2026-06-12 — 2026-10-23: all 93 expected dates are present. Complete dates do not establish independent verification of every price.

Security basis: The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

1 dates have missing or conflicting prices. Their dates remain visible with gaps in the chart; missing values are not replaced with zero or connected across gaps.

Original verification records

verified-listing-start-covered

History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z

The announcement confirms that Class A common stock began trading on Nasdaq Global Select and Nasdaq Texas on 2026-06-12. Nasdaq Texas and TXSE are different venues.

View sources and versions ↗
Financial drivers from public filings · single quarter

Compare growth, earnings, cash flow and capital investment for aligned reporting periods to examine company-wide financial drivers. Calculation inputs and original filings remain available.

Coverage and applicability

2025-06-30 — 2026-09-30 · Valid observations: 18. These observations analyze public financial data; they are not a standalone sector research report, score or price target. Company-wide figures do not replace segment, product or contract disclosures.

  • Days sales outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Days inventory outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Days payable outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Cash conversion cycle (average balances): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Cash purchases of productive assets / revenue: The selected capital-expenditure measure does not represent the broader concept of productive-asset purchases.

Price and operations

Research history
Reproducible calculations from public filings, without inferring segment-level results.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

Add metrics 3
Available metrics: 7

Financials and cash flow

Last value in range
SPCX Share priceTrading day
USD100125150175200147.49
Operating marginQuarterly observations
%-100102019
Net marginQuarterly observations
%-200204030
(CFO − cash purchases of PP&E) / revenueQuarterly observations
%-80-75-70-65-6025.10.2326.01.0126.04.0126.07.0126.10.23-68.3

Time rangeSPCX Share price

2025-10-23 — 2026-10-23
Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Underlying data Operating metrics: 3
Observations in this chart, including unverified periods or dates · original values and source versions retained
Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period endOperating margin% · Calculated from disclosuresNet margin% · Calculated from disclosures(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures
2026-09-302026-09-3019.15%
Basis · Calculated from disclosures

Source version date: 2026-10-22

View calculation inputs · 4 items
Currency
USD
operatingIncome
2,791,000,000
Revenue
14,575,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2026-07-01
Period end
2026-09-30
value
2,791,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-066880
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-07-01
Period end
2026-09-30
value
14,575,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-066880
SPCX · 10-Q · Filing version 2026-10-22
30.22%
Basis · Calculated from disclosures

Source version date: 2026-10-22

View calculation inputs · 4 items
Currency
USD
Net income
4,404,000,000
Revenue
14,575,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-07-01
Period end
2026-09-30
value
4,404,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-066880
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-07-01
Period end
2026-09-30
value
14,575,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-066880
SPCX · 10-Q · Filing version 2026-10-22
-68.35%
Basis · Calculated from disclosures

Source version date: 2026-10-22

View calculation inputs · 5 items
Currency
USD
Operating cash flow
9,631,000,000
Cash capital expenditure
19,593,000,000
Revenue
14,575,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-09-30
value
13,097,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-066880
1
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-06-30
value
3,466,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
-1
sourceIds
0
spcx-sec-0001628280-26-052535
2
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2026-01-01
Period end
2026-09-30
value
48,069,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
-1
sourceIds
0
spcx-sec-0001628280-26-066880
3
role
numerator
Original XBRL field
us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
Original unit
USD
Period start
2026-01-01
Period end
2026-06-30
value
28,476,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-052535
4
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-07-01
Period end
2026-09-30
value
14,575,000,000
Filing date
2026-10-22
form
10-Q
accn
0001628280-26-066880
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-066880
SPCX · 10-Q · Filing version 2026-10-22SPCX · 10-Q · Filing version 2026-08-04
2026-06-302026-06-30-1.83%
Basis · Calculated from disclosures

Source version date: 2026-08-04

View calculation inputs · 4 items
Currency
USD
operatingIncome
-143,000,000
Revenue
7,814,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
-143,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-052535
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
7,814,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-052535
SPCX · 10-Q · Filing version 2026-08-04
-6.92%
Basis · Calculated from disclosures

Source version date: 2026-08-04

View calculation inputs · 4 items
Currency
USD
Net income
-541,000,000
Revenue
7,814,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
-541,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-052535
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
7,814,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-052535
SPCX · 10-Q · Filing version 2026-08-04
—
Basis · Calculated from disclosures

Source version date: 2026-08-04

Required inputs with matching periods and currencies are insufficient, or the denominator is not positive.

View calculation inputs · 5 items
Currency
USD
Operating cash flow
Not disclosed
Cash capital expenditure
Not disclosed
Revenue
7,814,000,000
Input source document
0
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
7,814,000,000
Filing date
2026-08-04
form
10-Q
accn
0001628280-26-052535
Input sign
1
sourceIds
0
spcx-sec-0001628280-26-052535
SPCX · 10-Q · Filing version 2026-08-04
Calculations and sources 3 items
Operating margin% · Calculated from disclosures
Calculation basis

Operating income / revenue × 100

Reading guide

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Net margin% · Calculated from disclosures
Calculation basis

Selected net-income concept / revenue × 100

Reading guide

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

(CFO − cash purchases of PP&E) / revenue% · Calculated from disclosures
Calculation basis

(Operating cash flow − cash purchases of PP&E) / revenue × 100

Reading guide

A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Business and research scope

How the business turns into revenue and cash, and what the available evidence can establish.

Company filings ↗

Space Exploration Technologies Corp.. The quote provider classifies its industry as Computer Software: Programming, Data Processing. Structured segment, customer-mix and contract information is not yet available. Company information and original financial documents are provided below; business revenue is not inferred from supply-chain classification.

Company profile and filings
Legal name
Space Exploration Technologies Corp.
Exchange / quote currency
NASDAQ / USD
Reporting currency
USD
Source industry classification
Computer Software: Programming, Data Processing
Financial period end / Source version used
Unverified / Unverified
Value-chain roles (not revenue shares)
Cloud and compute rental · Models
Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.
MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

148.58 +1.14%
2026-07-23 — 2026-10-23Price change over the selected period +24.74%
Provider split-adjusted prices excluding dividends, USD. Recorded trading days are equally spaced from 2026-07-23 to 2026-10-23 (66 trading days). Volume is shown separately in shares.USD100120140160180147.49Volume · shares2026-07-23 Volume 75,246,500 shares2026-07-24 Volume 56,786,100 shares2026-07-27 Volume 64,540,700 shares2026-07-28 Volume 81,714,300 shares2026-07-29 Volume 53,995,200 shares2026-07-30 Volume 56,008,000 shares2026-07-31 Volume 58,835,700 shares2026-08-03 Volume 70,524,000 shares2026-08-04 Volume 144,130,100 shares2026-08-05 Volume 208,488,400 shares2026-08-06 Volume 255,176,600 shares2026-08-07 Volume 242,130,700 shares2026-08-10 Volume 169,934,300 shares2026-08-11 Volume 108,900,600 shares2026-08-12 Volume 167,236,400 shares2026-08-13 Volume 120,282,200 shares2026-08-14 Volume 96,727,800 shares2026-08-17 Volume 116,675,400 shares2026-08-18 Volume 84,191,000 shares2026-08-19 Volume 76,612,300 shares2026-08-20 Volume 119,813,200 shares2026-08-21 Volume 78,808,300 shares2026-08-24 Volume 60,188,400 shares2026-08-25 Volume 53,075,000 shares2026-08-26 Volume 61,380,500 shares2026-08-27 Volume 55,268,800 shares2026-08-28 Volume 55,111,200 shares2026-08-31 Volume 63,145,000 shares2026-09-01 Volume 53,808,100 shares2026-09-02 Volume 49,903,700 shares2026-09-03 Volume 121,333,600 shares2026-09-04 Volume 49,122,400 shares2026-09-08 Volume 85,840,700 shares2026-09-09 Volume 120,593,500 shares2026-09-10 Volume 118,598,900 shares2026-09-11 Volume 79,273,400 shares2026-09-14 Volume 67,861,000 shares2026-09-15 Volume 72,746,800 shares2026-09-16 Volume 108,770,000 shares2026-09-17 Volume 83,986,400 shares2026-09-18 Volume 335,670,500 shares2026-09-21 Volume 82,283,700 shares2026-09-22 Volume 59,197,600 shares2026-09-23 Volume 60,641,600 shares2026-09-24 Volume 72,721,400 shares2026-09-25 Volume 54,595,200 shares2026-09-28 Volume 83,516,700 shares2026-09-29 Volume 80,056,700 shares2026-09-30 Volume 79,614,200 shares2026-10-01 Volume 69,092,500 shares2026-10-02 Volume 119,859,100 shares2026-10-05 Volume 135,688,900 shares2026-10-06 Volume 106,952,400 shares2026-10-07 Volume 77,473,000 shares2026-10-08 Volume 71,897,800 shares2026-10-09 Volume 93,042,600 shares2026-10-12 Volume 67,434,500 shares2026-10-13 Volume 69,022,500 shares2026-10-14 Volume 68,781,000 shares2026-10-15 Volume 101,177,100 shares2026-10-16 Volume 88,552,900 shares2026-10-19 Volume 74,037,800 shares2026-10-20 Volume 117,204,900 shares2026-10-21 Volume 220,785,200 shares2026-10-22 Volume 197,046,500 shares2026-10-23 Volume 110,352,500 shares335.7M007-2308-1409-0910-0110-23
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 92 / trading dates: 93Market data source
MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close
146.90
Session open
147.41
Session range
146.61 – 151.36
Session volume
95.85 M
20 Average daily volume
101.58 M
Historical range
104.83 – 213.80

Valuation and cash

Market cap · USD
2.02 T
Price / sales · Reporting period
—
Free cash flow yield
—

Financial denominator

Revenue · Reporting period
— USD
Period end
Unverified
Source version
Unverified

Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end Unavailable

Research archiveNo standalone articles or full reports for this company have been included yet

Public financial and operating analysis is available. Standalone research has not yet been published; exploreOperating data、Financial comparison and SourceSource document。

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Quarter · As of 2026-09-30Source version used 2026-10-22 · Original currency USD
USD · Quarter
Current period 2026-07-01 — 2026-09-30Comparison period 2026-04-01 — 2026-06-30
Financial comparison of two defined periods; expand values for source records
Line itemCurrent periodComparison periodAmount changeGrowth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive
14.58 B

Raw value 14,575,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

7.81 B

Raw value 7,814,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+6.76 B+86.52%
Operating incomeOperating margin 19.15% · Change +20.98 percentage points
2.79 B

Raw value 2,791,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

-143.00 M

Raw value -143,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+2.93 B—
Net incomeNet margin 30.22% · Change +37.14 percentage points
4.40 B

Raw value 4,404,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

-541.00 M

Raw value -541,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

+4.95 B—
Operating cash flowOperating cash flow / revenue 66.08%
9.63 BDerived by subtraction

Raw value 9,631,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 13.10 B USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 3.47 B USD · Source version 2026-08-04
———
Capital expenditureCapital expenditure / revenue 134.43%
19.59 BDerived by subtraction

Raw value 19,593,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 48.07 B USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 28.48 B USD · Source version 2026-08-04
———
Comparable values unavailable for the two selected periods · Gross profit
  • Gross profit:Reported value unavailable; Reported value unavailable.
Check filing sources ↗

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials
Comparable-period financial trends
Last value in range
USD million-5k05k10k15k25.06.3025.10.0126.01.0126.04.0126.07.0126.09.3014.6k4.4k2.8k

Time rangeRevenue

2025-06-30 — 2026-09-30
Methodology and controls

Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Quarterly financials, USD. Records without verified periods or units are excluded from comparison columns.
Reporting period end · USD2025-06-302025-09-302026-06-302026-09-30
Revenue
4.07 B

Raw value 4,071,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

5.58 B

Raw value 5,576,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

7.81 B

Raw value 7,814,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

14.58 B

Raw value 14,575,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Gross profit————
Operating income
-970.00 M

Raw value -970,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

-273.00 M

Raw value -273,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

-143.00 M

Raw value -143,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

2.79 B

Raw value 2,791,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Net income
-1.01 B

Raw value -1,008,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

-1.05 B

Raw value -1,054,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

-541.00 M

Raw value -541,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

4.40 B

Raw value 4,404,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reported data

Operating cash flow—
3.77 BDerived by subtraction

Raw value 3,769,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 4.12 B USD · Source version 2026-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 351.00 M USD · Source version 2026-08-04
—
9.63 BDerived by subtraction

Raw value 9,631,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 13.10 B USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 3.47 B USD · Source version 2026-08-04
Capital expenditure—
6.88 BDerived by subtraction

Raw value 6,881,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 13.85 B USD · Source version 2026-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 6.97 B USD · Source version 2026-08-04
—
19.59 BDerived by subtraction

Raw value 19,593,000,000.00 USD

2026-07-01 — 2026-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-09-30 · 48.07 B USD · Source version 2026-10-22
  • Subtract: 2026-01-01 — 2026-06-30 · 28.48 B USD · Source version 2026-08-04
Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗
Disclosed events

Unnamed AI compute hosting customer of SpaceX (deal closed early September 2026) · Offtake and leasing

New AI compute hosting deal closed in early September 2026, worth about $1.11bn per month starting 2026-12-01 (roughly $13bn of ARR); term, capacity and site not disclosed; disclosed by CFO Bret Johnsen at the Goldman Sachs Communacopia & Technology Conference on 2026-09-10; customer not named [11]

Disclosed events

TSLA · Equipment and engineering

Related-party procurement of Tesla Megapack energy storage products and vehicles, capitalized into property, plant and equipment: $295m in Q2 2026 and $329m in H1 2026; cumulative $506m of Megapack products and $131m of Cybertrucks as of December 31, 2025. [7]

Disclosed events

Valor Equity Partners · Capital and financing

Related-party equipment lease of AI infrastructure hardware from Valor Equity Partners, accounted for as a failed sale-leaseback financing: $2,039m current plus $11,290m non-current related-party debt at June 30, 2026 (vs $455m and $4,052m at December 31, 2025), i.e. $13.3bn; $513m of related-party interest expense in H1 2026. Valor founder and CEO Antonio Gracias serves on the company's board. [8]

Disclosed events

Anonymous customer · SPCX (Customer A, all three segments) · Customer

Disclosed >10% customer ("Customer A"): 17.9% of H1 2026 revenue (18.3% in Q2 2026; 19.9% in H1 2025 and 16.7% in Q2 2025). Revenue from Customer A relates to all three segments. Customer not named in the filing. [9]

View remaining recorded events (1)
Disclosed events

Anonymous customer · SPCX (Customer B, AI segment) · Customer

Disclosed >10% customer ("Customer B"): 12.2% of H1 2026 revenue and 19.5% of Q2 2026 revenue; revenue from Customer B relates to the AI segment. No comparable disclosure in 2025. Customer not named in the filing. [10]

Included financial source versions
  1. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-09-30. The same document includes multiple comparison periods.

  2. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-06-30. The same document includes multiple comparison periods.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Direct relationships: 11 · Excluded by current filters: 1

Upstream supply

1 companies
2026-06-301 record

Downstream demand

4 companies
Date not specified1 record
2026-06-301 record
2026-06-301 record
2026-09-101 record

Capital sources

2 companies
↗
Date not specified1 record
2026-06-301 record

Capital deployed

4 companies
Date not specified1 record
Date not specified1 record
Date not specified1 record
Date not specified1 record

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Upstream supply · Equipment / construction

TSLASPCX

Signed / existingA · Original filing

What this relationship establishes

Related-party purchases

Relationship type
Equipment / construction

Recorded as signed or existing; performance progress requires separate verification

Amount basis
USD 0.329 billion Amount classification not yet structured
  • Capitalized $295m in Q2 2026 and $329m in H1 2026, within construction in progress / property, plant and equipment
  • Cumulative amounts through year-end 2025 were $506 million for Megapack and $131 million for Cybertruck

A period-by-period schedule of payments and revenue recognition has not been established. The recorded amount is not converted into current-period revenue, cash paid or stock-price impact.

Attribution
Applies to this relationship; the original document determines the specific legal entities and attribution.
Concentration
A relationship amount and company denominator with matching periods and definitions are not provided

Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

Related-party procurement of Tesla Megapack energy storage products and vehicles, capitalized into property, plant and equipment: $295m in Q2 2026 and $329m in H1 2026; cumulative $506m of Megapack products and $131m of Cybertrucks as of December 31, 2025.

A · Original filing

Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Related Party Transactions note

Procurement constraints and delivery

The excerpts below come from this record. Verify signed status separately from actual completion.

  • This record does not specify performance milestones, payment arrangements or termination provisions.
Inputs still needed to quantify the impact
  • The actual schedule for staged deliveries and acceptance
  • Payment milestones and cost attribution
  • Utilization, depreciation and maintenance spending for new capacity

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

  1. Delivery terms

    TSLA supplies equipment or engineering services to SPCX; distinguish contract status from actual delivery status.

  2. Execution

    Verify each stage: prepayment, production or construction, arrival, acceptance and commissioning.

  3. Financial outcomes

    Assess capital expenditure and cash tied up in prepayments, commissioning timing, depreciation and subsequent operating cash flows.

  4. Testing price implications

    Separate construction-period cash flows from steady-state cash flows; nominal capacity cannot be treated directly as profit.

Cross-check relationship events against subsequent disclosures of company revenue, costs, working capital and cash flows; movements in the same direction alone do not establish causation.

Operating data to test the relationship

SPCX · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.
Operating metricLatest valueDefinition and boundaries
Operating margin ↗2026-09-30 · Research calculation19.15%
Definition and boundaries

Operating income / revenue × 100

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Net margin ↗2026-09-30 · Research calculation30.22%
Definition and boundaries

Selected net-income concept / revenue × 100

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Operating cash flow / revenue ↗2026-09-30 · Research calculation66.08%
Definition and boundaries

Operating cash flow / revenue × 100

Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

(CFO − cash purchases of PP&E) / revenue ↗2026-09-30 · Research calculation-68.35%
Definition and boundaries

(Operating cash flow − cash purchases of PP&E) / revenue × 100

A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Investment and funding needs

How much cash is required for construction and procurement before delivery?

Compare prepayments, cash capital expenditure and commissioning plans. Current-period revenue is not a substitute for a full investment-recovery calculation.
Operating metricLatest valueDefinition and boundaries
Cash purchases of PP&E / revenue ↗2026-09-30 · Research calculation134.43%
Definition and boundaries

Cash purchases of PP&E / revenue × 100

Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Show remaining company metrics (2)
Other operating observations

What verifiable information does this metric provide about this relationship?

Use the metric's definition and original inputs. Quantitative attribution to this relationship has not been established.
Operating metricLatest valueDefinition and boundaries
Revenue growth YoY ↗2026-09-30 · Research calculation161.39%
Definition and boundaries

(Current-period revenue / comparable prior-year revenue − 1) × 100

Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

(Net income − operating cash flow) / revenue ↗2026-09-30 · Research calculation-35.86%
Definition and boundaries

(Net income − operating cash flow) / revenue × 100

The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Related companies in the value chain 10 companies · Cloud and compute rental

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

Search all operating metrics and calculation methods

Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Historical research methodology
7 / 7 items
Operating metricLatest valuePeriod / classificationDefinition and interpretation boundariesAnalysis
Revenue growth YoY161.39%2026-09-30Research calculation(Current-period revenue / comparable prior-year revenue − 1) × 100Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating margin19.15%2026-09-30Research calculationOperating income / revenue × 100Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Net margin30.22%2026-09-30Research calculationSelected net-income concept / revenue × 100May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating cash flow / revenue66.08%2026-09-30Research calculationOperating cash flow / revenue × 100Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
(CFO − cash purchases of PP&E) / revenue-68.35%2026-09-30Research calculation(Operating cash flow − cash purchases of PP&E) / revenue × 100A free-cash-flow proxy deducting only identified PP&E purchases. It does not deduct acquisitions, capital prepayments, intangible assets or lease principal, and does not establish cash distributable to common shareholders. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Cash purchases of PP&E / revenue134.43%2026-09-30Research calculationCash purchases of PP&E / revenue × 100Identified cash purchases of PP&E, excluding non-cash additions. Maintenance and expansion investment are not separated. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
(Net income − operating cash flow) / revenue-35.86%2026-09-30Research calculation(Net income − operating cash flow) / revenue × 100The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions
Quotes and valuation

2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity has been checked. Continuity with earlier issuers has not been independently verified; listing-date coverage is shown separately.

Original verification notes

verified-listing-start-covered

The announcement confirms that Class A common stock began trading on Nasdaq Global Select and Nasdaq Texas on 2026-06-12. Nasdaq Texas and TXSE are different venues.

Financial statements

Reporting period unavailable; filing date unavailable. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

Business evidence

Based on value-chain records; original operating disclosures are still needed.

Citations: 11 · Documents: 9 · Duplicate documents are grouped; individual source locations are retained

1NVDA 13F-HR 0001045810-26-000065 (period 2026-06-30, filed 2026-08-14); SPCX 10-Q 0001628280-26-052535 (2026-06-30) Common Control Mergers noteValue-chain archive

NVDA 13F-HR 0001045810-26-000065 (period 2026-06-30, filed 2026-08-14); SPCX 10-Q 0001628280-26-052535 (2026-06-30) Common Control Mergers note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
2SPCX 8-K 0001628280-26-043411 (Item 1.01, 2026-06-16); SPCX 10-Q 0001628280-26-052535 (2026-06-30) Note 20Value-chain archive

SPCX 8-K 0001628280-26-043411 (Item 1.01, 2026-06-16); SPCX 10-Q 0001628280-26-052535 (2026-06-30) Note 20 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
3SPCX 10-Q 0001628280-26-052535 (2026-06-30) Note 20Value-chain archive · 2 citations
References 3

SPCX 10-Q 0001628280-26-052535 (2026-06-30) Note 20 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

References 6

SPCX 10-Q 0001628280-26-052535 (2026-06-30) Note 20 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
4SPCX 10-Q 0001628280-26-052535 (2026-06-30) commitments and contingencies noteValue-chain archive

SPCX 10-Q 0001628280-26-052535 (2026-06-30) commitments and contingencies note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
5SPCX 10-Q 0001628280-26-052535 (2026-06-30) Common Control Mergers noteValue-chain archive

SPCX 10-Q 0001628280-26-052535 (2026-06-30) Common Control Mergers note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
7Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Related Party Transactions noteValue-chain archive

Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Related Party Transactions note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
8Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Related Party Transactions note and detailsValue-chain archive

Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Related Party Transactions note and details · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
9Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Revenue note - significant customers and concentration of riskValue-chain archive · 2 citations
References 9

Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Revenue note - significant customers and concentration of risk · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

References 10

Space Exploration Technologies Corp (SPCX) Form 10-Q for the period ended June 30, 2026 (filed 2026-08-04), Revenue note - significant customers and concentration of risk · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
11Remarks by SpaceX CFO Bret Johnsen at the Goldman Sachs Communacopia & Technology Conference (2026-09-10, webcast on ir.spacex.com; date per SpaceX IR notice of 2026-08-27), quoted verbatim by Yahoo Finance [B]Value-chain archive

Remarks by SpaceX CFO Bret Johnsen at the Goldman Sachs Communacopia & Technology Conference (2026-09-10, webcast on ir.spacex.com; date per SpaceX IR notice of 2026-08-27), quoted verbatim by Yahoo Finance [B] · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
Missing evidence
  • Primary-source coverage of the company’s standalone business analysis and falsification criteria is incomplete.
  • Company-specific operating KPIs are not yet available; financial ratios do not substitute for evidence about products, orders or capacity.
Unresolved business questions
Which products, customers and revenue categories can be independently verified from primary materials?
Existing relationship records do not represent the entire business; company-level primary evidence for segments, products, customer concentration and key operations remains incomplete.
Relationships
Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version
60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644

ResearchSource document

Sources: 2
01SPCX · 10-Q · Filing version 2026-08-04

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
02SPCX · 10-Q · Filing version 2026-10-22

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure