SpaceX Reports 161% Revenue Growth and Holds 18,712 Bitcoins

On October 20, SpaceX released its third-quarter 2026 report, which exceeded Wall Street expectations. Revenue grew by 161% to $14.6 billion, and instead of a $1.1 billion loss a year earlier, the company posted a profit of $4.4 billion. Operating profit amounted to $2.8 billion, and adjusted EBITDA reached $8.8 billion, which is 306% more than a year ago. Diluted earnings per share were 35 cents, compared to forecasts ranging from 13 to 16 cents, and revenue exceeded estimates of $12.7-12.9 billion. The main driver was the Super Intelligence division, which brought in $7.56 billion, an 830% increase compared to the same quarter last year. This includes Grok, cloud infrastructure, and the recently acquired Cursor. Operating profit for this segment reached $431 million, whereas a year earlier, a loss of $1.72 billion was recorded. Starlink generated $5.25 billion in revenue, increasing the figure by 69% thanks to 13.6 million private subscribers. Traditional space operations added $1.77 billion, and Starship, during its first commercial mission, launched 26 next-generation satellites into orbit.

In the consolidated balance sheet as of September 30, 2026, the digital assets section shows an amount of $1.573 billion. At the end of December 2025, it was $1.637 billion, meaning the reported value decreased by $64 million. The report does not explicitly mention Bitcoin, but previous documents indicated that SpaceX owns 18,712 BTC, acquired for approximately $661 million. The Arkham Intelligence platform also records this volume, primarily associated with storage on Coinbase Prime. The decrease in the reported value does not necessarily indicate a sale: the cash flow statement for the first nine months of 2026 reflects an unrealized loss on digital assets of the same $64 million, corresponding to a change in market valuation. There are no indications of additional Bitcoin purchases or sales in the latest report, so the previously disclosed position remains unchanged.

SpaceX's capital expenditures for the quarter amounted to $19.6 billion, with $16.4 billion directed towards Super Intelligence. At the end of September, the company had approximately $89.9 billion in cash and securities. Elon Musk retains the top spot on the Forbes list, where on October 20, his wealth was estimated at approximately $925 billion, which is $1.4 billion more than the previous trading day. Most of the capital is tied to stakes in SpaceX and Tesla, so the valuation can change sharply with the market. The growth of SpaceX's profits, the expansion of the AI direction, and a Bitcoin reserve worth over $1.5 billion bring Musk's wealth closer to the $1 trillion mark.