SpaceX files IPO prospectus revealing strong Starlink growth
SpaceX, the space exploration company founded by Elon Musk, has for the first time provided investors with a detailed look at its financial performance. On Wednesday, the company filed its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) ahead of its highly anticipated initial public offering, which could become one of the largest in history.
Highlights
- SpaceX filed its S-1 prospectus for an IPO on Nasdaq under ticker SPCX.
- Q1 2026 revenue reached $4.694 billion; full-year 2025 revenue was $18.674 billion.
- Starlink remains the main driver of growth and profitability.
- The company continues heavy investment in Starship and artificial intelligence.
- Expected valuation at IPO is around $1.8 trillion.
Financial results
For the three months ended March 31, 2026, SpaceX reported consolidated revenue of $4.694 billion with an operating loss of $1.943 billion. Adjusted EBITDA stood at $1.127 billion. For the full year 2025, the company generated revenue of $18.674 billion, an operating loss of $2.589 billion, and adjusted EBITDA of $6.584 billion.
The primary driver of growth was the “Connectivity” segment, which is almost entirely powered by the Starlink satellite internet service. In the first quarter of 2026, this segment generated $3.257 billion in revenue and operating profit of $1.188 billion. For the full year 2025, Starlink revenue grew 49.8% compared to the previous year.
Other segments and future plans
The space launch segment (rockets) remains unprofitable, while the artificial intelligence division (including xAI) recorded significant losses. The company also disclosed that it has already spent more than $15 billion on the development of its next-generation Starship rocket.
SpaceX aims to raise up to $75 billion through its IPO and is targeting a market capitalization of approximately $1.8 trillion. Shares are expected to trade on Nasdaq under the ticker “SPCX.” Elon Musk is estimated to retain around 42% of the company’s shares following the offering.
A milestone for SpaceX and Musk
The filing marks a significant milestone for SpaceX, which had long remained a private company. The disclosure of financial figures gives investors a clearer understanding of the business structure, where profitable Starlink operations help offset losses in strategically important areas such as rocket launches and artificial intelligence.
For Elon Musk, a successful IPO could provide crucial capital to fund ambitious goals, including Mars colonization and the development of orbital data centers. The market is eagerly awaiting June 5, when SpaceX is scheduled to hold its investor presentation — a moment that will reveal how highly the public market values one of the most ambitious companies of our time.
As we previously reported, Goldman Sachs has been selected as the lead underwriter for SpaceX’s anticipated initial public offering (IPO).
Latest SpaceX News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
