Starlink
12 million subscribers at the end of Q2 2026, double a year earlier, with Connectivity revenue up 66%.
The numbers
What it is
Low-orbit satellite internet with consumer, aviation, maritime and government plans. Subscriber growth is the core driver of the stock, and average revenue per user has been falling as the base moves to cheaper plans.
Why it matters to the stock. Starlink brought in most of the company's revenue in 2025 and is the only segment that makes an operating profit. Traders watch subscriber adds and ARPU together to judge whether growth is coming from volume or price.
News
SpaceX posts first public quarter with revenue up 92% to $7.8 billion
SpaceX reported its first quarterly results as a public company for the quarter ended June 2026.
Starlink ARPU falls to $66 a month from $85 as subscribers reach 12.0 million
SpaceX reported 12.0 million Starlink subscribers at June 30, 2026, up from 10.3 million at March 31 and 6.0 million a year earlier.
SpaceX public S-1 shows $18.7 billion 2025 revenue and $4.9 billion net loss
SpaceX's public S-1 showed 2025 revenue of $18.7 billion, a net loss of $4.9 billion and an operating loss of $2.6 billion, with adjusted EBITDA of $6.6 billion.