On January 31, Reuters reported that two people familiar with SpaceX’s performance said that SpaceX achieved a profit of approximately US$8 billion last year, with revenue between US$15 billion and US$16 billion. That provides new insight into the financial health of Elon Musk's space exploration company, which is expected to go public later this year.
SpaceX
SpaceX's latest financial data has never been reported before. Some banks have estimated that the company could go public at a valuation of more than $1.5 trillion and raise more than $50 billion, people familiar with the matter said.
The profit figure refers to earnings before interest, taxes, depreciation and amortization (EBITDA), a key measure of operating performance. People familiar with the matter said that Musk's satellite Internet system "Starlink" is the main revenue growth engine, accounting for about 50% to 80% of total revenue.
Since 2019, SpaceX has rapidly launched 9,500 Starlink satellites, becoming the world's largest satellite operator, with more than 9 million broadband Internet service users. This Internet service, along with government contracts related to Starlink and the military-grade satellite network "StarShield" project, together form a key source of revenue for the company, providing financial support for the development of Musk's new generation of "Starship" rockets designed to launch more powerful Starlink satellites.
People familiar with the matter said that SpaceX is planning to conduct the world's largest initial public offering (IPO), which may be close to Musk's 55th birthday on June 28.
Reuters also reported on Thursday that SpaceX was discussing a merger with Musk's AI company xAI before its IPO.
As of press time, SpaceX has not commented on this.