SpaceX Won't Use Traditional Wire Services to Share Financial Results. What That Means for Investors.

Space Exploration Technologies (NASDAQ: SPCX) has announced that it will share quarterly and annual financial results on its investor relations website and on its @SpaceX account on X, rather than through traditional news release services such as Berkshire Hathaway's Business Wire or PR Newswire.

SpaceX is not avoiding disclosure. The company must file the required information with the U.S. Securities and Exchange Commission (SEC). But the move implies that investors may need to check SpaceX's website, X account, and SEC filings more actively to keep up with the company.

Image source: Getty Images.

SpaceX's public communication strategy

The SEC has previously said that companies can use websites and social media for material announcements, provided investors are told where to look. SpaceX has done so by designating its investor relations page and X account as disclosure channels.

SpaceX recently completed an IPO of 638.9 million shares at $135 per share. The company raised about $85.7 billion after underwriters bought their additional shares.

SpaceX's business is too large to ignore. Starlink satellite internet had about 10.3 million subscribers across 164 countries, territories, and markets at the end of the first quarter of fiscal 2026 (ending March 31, 2026). SpaceX also had more than 9,600 Starlink broadband and mobile satellites orbiting relatively close to Earth, which helps reduce internet delay. The company has carried over 80% of the world's satellite and cargo weight launched into orbit since 2023.

SpaceX also has growth opportunities beyond home internet. In January, the Federal Communications Commission (FCC) approved the deployment of 7,500 additional Gen 2 Starlink satellites, bringing SpaceX's authorized Starlink satellite count to 15,000. Hence, SpaceX may see significant improvement in internet coverage and capacity over time. SpaceX has also agreed to buy wireless spectrum from EchoStar, giving it more of the airwaves needed to connect Starlink directly to ordinary mobile phones.

SpaceX's artificial intelligence infrastructure business is also gaining traction. In June 2026, Alphabet's Google business agreed to pay SpaceX $920 million per month from October 2026 through June 2029 for xAI's computing capacity involving roughly 110,000 of Nvidia's GPUs. Anthropic has also agreed to pay SpaceX $1.25 billion per month through May 2029 for AI computing services. But the deal is not fully locked in, as either party can terminate it with 90 days' notice.

Risks to consider

Traditional news release services help push company announcements into media outlets, financial systems, databases, and online channels. SpaceX's disclosure strategy places more responsibility on investors to monitor the company's website, X account, and SEC filings directly.

The additional burden on investors matters, as SpaceX is not a simple business. Starlink is growing fast, but its average revenue per user has fallen from $99 in 2023 to $66 in the first quarter of 2026. Hence, subscriber growth may not fully translate into higher revenue.

The AI business also increases risk. Large contracts with Google and Anthropic are promising, but the business remains capital-intensive. SpaceX may also need to borrow funds. Reuters reported that bankers were preparing a possible bond sale of at least $20 billion to repay a short-term loan tied to the xAI acquisition.

SpaceX's no-wire policy is not a reason to ignore the stock. But it is a reason to follow it more carefully.

Manali Pradhan, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Berkshire Hathaway, and Nvidia. The Motley Fool has a disclosure policy.