According to data compiled by Woofun AI, SpaceX (SPCX.US) released its first quarterly earnings report since going public on Tuesday, prompting a sharp market reaction. Although its core operations performed strongly, net profit was pressured by a digital asset impairment, leading to notable stock price swings.

Second-quarter revenue reached $7.8 billion, significantly surpassing Wall Street's forecast of $6.9 billion. Fueled by rapid expansion in rocket launches, Starlink, and artificial intelligence operations, the quarterly net loss narrowed to $541 million, a marked improvement from the $1 billion loss recorded a year earlier. Adjusted EBITDA nearly tripled to $3.5 billion, indicating stronger profitability in the core business.

Woofun AI data shows that SpaceX (SPCX.US) digital asset value fell from $1.64 billion at the end of 2025 to $1.1 billion in the second quarter. IPO filings reveal that as of March 31, the company held 18,712 Bitcoin with a cost basis of approximately $661 million, at which time they were valued at $1.29 billion. The earnings report did not disclose the exact holdings or the reasons for the impairment.

As a result, SPCX.US shares fell 6% during the session, after having risen nearly 10% earlier in the day. Over the same period, the Nasdaq 100 Index gained 3.3%. This earnings release comes less than two months after a record-breaking $86 billion IPO, placing the company at a critical juncture.

On August 6, approximately 912 million shares held by employees and early investors will become eligible for sale, potentially increasing the float. Although the stock has recovered from its post-IPO slump, it remains nearly 50% below its all-time high of $225 reached shortly after the June listing, with valuation pressures still present.