According to CoinMeta, after the company’s first public quarterly financial report, SpaceX’s stock price fell by 11% in pre-market trading on Wednesday. Although the company’s revenue increased by 92% year-over-year to reach $7.8 billion, exceeding Wall Street’s expectations, and the adjusted EBITDA nearly grew to $3.5 billion, investors expressed concerns about the upcoming heavy capital expenditures and the unlocking of internal shares. SpaceX’s net loss for the quarter narrowed to $541 million, but expenditures amounted to $18.4 billion, mainly used for expanding the infrastructure of Starlink, Starship, and AI. At the end of the quarter, the company held 18,712 bitcoins, valued at approximately $1.1 billion, however, this position lost about $195 million in value during the quarter, adding to the volatility of the financial report. JPMorgan Chase raised its target price from $225 to $240 and expects SpaceX’s capital expenditures to reach nearly $200 billion in 2027 and 2028, putting further pressure on free cash flow.