tech
SpaceX not the behemoth everyone thought
The company's IPO hinges on investor confidence in staggering future growth.
TL;DR
- SpaceX's IPO prospectus shows it is not a financial juggernaut.
- The company reported a $4.9 billion net loss in 2025 on $18.67 billion in revenue.
- SpaceX's AI unit, containing X and xAI, generated $818 million in Q1 2026.
- The Starlink connectivity business is SpaceX's only profitable unit and accounted for most of its Q1 revenue.
- SpaceX is expected to begin trading next month on the Nasdaq under the ticker symbol 'SPCX'.
- AI rivals OpenAI and Anthropic are also expected to go public after Labor Day.