Filing Flows › Space Exploration Technologies (SPCX) › Q3 2026
Space Exploration Technologies (SPCX) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 22, 2026
Space Exploration Technologies (SPCX) reported revenue of $14.6B for the third quarter 2026 (Q3 2026), +161% from a year earlier and +87% from the quarter before. Operating margin was 19.1%, net earnings $4.4B (30.2% of revenue).
Space Exploration Technologies, Q3 2026: revenue $14.6B (+161% year over year), operating margin 19.1%, net earnings $4.4B, operating cash flow $9.6B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.6B | +87% | +161% |
| Operating profit | $2.8B | — | — |
| Net earnings | $4.4B | — | — |
| Operating cash flow | $9.6B | — | +156% |
What changed
Revenue was $14.6B in Q3 2026, up 161% year over year and up 87% from the previous quarter. SI was the largest line at 52% of revenue. SI added $6.7B year over year (up 830%), 75% of the total change.
Operating profit was $2.8B, a 19.1% margin (up 24.0 points year over year). Total costs grew 101% against revenue growth of 161%. The fastest-growing cost line was SG&A (+197%). Net earnings were $4.4B. The effective tax rate was -9.7%. Non-operating items added $1.2B, 30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $9.6B (up 156% year over year), 219% of net earnings. Non-cash charges added back $3.6B of depreciation and amortization and $2.4B of share-based compensation. Working capital and other items used $0.78B. Capital expenditures of $19.6B exceeded it, leaving free cash flow of −$10.0B.
Questions
What was Space Exploration Technologies' revenue in the third quarter 2026?
Space Exploration Technologies (SPCX) reported revenue of $14.6B for the third quarter 2026 (Q3 2026), +161% from a year earlier and +87% from the quarter before.
Was Space Exploration Technologies profitable in the third quarter 2026?
Operating profit was $2.8B (19.1% of revenue) and net earnings $4.4B.