SpaceX Q3 FY26: where the revenue came from and where it went
The whole income statement of SpaceX for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2026
Revenue$14.58B
+161% year over year
Gross profit$9.10B
62% margin
Operating profit$2.79B
19% margin
Net profit$4.40B
30% margin
Net profit is larger than what operations earned, because the statement adds $1.61B below it, under Tax benefit and other.
Figures in billions of dollars.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 14.58 | 100% | +161% |
| Connectivity | 4.29 | 29% | |
| AI | 2.56 | 18% | |
| Consumer | 2.49 | 17% | |
| Solutions & infrastructure | 2.19 | 15% | |
| Other | 0.97 | 7% | |
| Space | 0.96 | 7% | |
| Launch services | 0.65 | 4% | |
| Products | 0.46 | 3% | |
| Cost of revenue | −5.48 | 38% | |
| Gross profit | 9.10 | 62% margin | +11pp |
| R&D | −4.60 | 31% | −10pp |
| SG&A | −1.71 | 12% | +1pp |
| Operating profit | 2.79 | 19% margin | +24pp |
| Tax benefit and other | 1.61 | ||
| Net profit | 4.40 | 30% margin | +49pp |
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