SpaceX generated about $10 billion in profit last year ahead of IPO, sources say
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Billionaire Elon Musk’s space company is expected to go public later this year.
PHOTO: REUTERS
- SpaceX made about US$8 billion profit on US$15 billion to US$16 billion revenue in 2023, according to sources familiar with the company's results.
- Starlink, Mr Musk's satellite-based internet, drives most of SpaceX's revenue, accounting for about 50 per cent to 80 per cent of the total.
- Banks estimate that SpaceX could raise over US$50 billion at a valuation exceeding US$1.5 trillion, ahead of a potential IPO later this year.
AI generated
NEW YORK - SpaceX generated about US$8 billion (S$10.1 billion) in profit on US$15 billion to US$16 billion of revenue in 2025, two people familiar with the company’s results said, providing fresh insight into the financial health of Elon Musk’s space company that is expected to go public later this year.
SpaceX’s most recent financials, which have not been previously reported, led some banks to estimate that the company could raise more than US$50 billion at a valuation exceeding US$1.5 trillion, said the people, who asked not to be named to discuss private conversations.
Reuters reported on Jan 29 that SpaceX is also in talks with Mr Musk’s artificial intelligence company, xAI, about a merger ahead of the IPO.
SpaceX did not immediately return a request for comment.
The profit figure was earnings before interest, taxes, depreciation and amortisation, a key measure of operating performance.
Mr Musk’s satellite-based internet system Starlink is the main revenue driver, accounting for about 50 per cent to 80 per cent of the total, the people said. REUTERS
