Total sales grew from $4 billion in the second quarter of 2025 to $7.8 billion in Q2 2026, a jump of 92%. Nearly $2 billion of that growth came from its AI division, while Starlink revenue also grew by $1.7 billion. The company still lost $541 million in the quarter, but that was down from $1 billion in the second quarter last year. Both of those compute deals were announced in the weeks before SpaceX’s IPO, and they represented a major pivot for the company. “The incremental revenue from new hosting deals generated high incremental EBITDA margins as we monetized available compute capacity,” Johnsen said on a conference call Tuesday.