20 May 2026 SpaceX officially started the IPO process (initial public offering of shares), by filing registration documents and revealing their real financial performance for the first time.
The company has filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) after the markets close. The S-1 form does not specify the number of shares to be sold and their value. Ці відомості зазвичай пропускають у першій редакції документа й додають безпосередньо перед виходом на IPO. Станом на сьогодні у медіа ширяться повідомлення, що SpaceX планує залучити до 80 billions of dollars, based on the market valuation of the company in approx 2 trillions of dollars.
At the same time, the document contains financial information, which the private company had not previously disclosedAccording to the results 2025 year, SpaceX's total revenue reached 18,7 A billion dollars, while adjusted EBITDA was 6,6 A billion dollars. During the first three months 2026 year, these indicators were 4,7 billions of dollars and 1,1 billion dollars respectively.
For reference: THE EVENTS (from English. Earnings Before Interest, Taxes, Depreciation, and Amortization) is an analytical indicator, which reflects the company's profit before deducting interest expenses on loans, taxes, as well as depreciation. It is used to assess the overall financial performance of a business and its ability to generate cash flow.
SpaceX divides its financial results into three business segments: space, communication and AI. Space segment, which includes launches and related activities, in 2025 year brought 4,1 billion dollars in revenue, and in the first quarter 2026 year — 619 millions of dollars. Adjusted EBITDA was positive (653 Millions of dollars) in 2025 year and negative (351 a million dollars) in the first quarter of 2026.
The document shows the company's high level of investment in the Starship rocket. Starship development costs amounted to 3 billions of dollars in 2025 year and 930 million dollars in the first quarter of 2026.
Communication segment covers Starlink services and provides most of the company's revenues and profits. He brought 11,4 billions of dollars of income in 2025 year and 3,3 billions of dollars in the first quarter of 2026, with adjusted EBITDA 7,2 billions of dollars in 2025 year and 2,1 billions of dollars in the first quarter of 2026. SpaceX said, that as of the end of the first quarter 2026 a year old 10,3 million Starlink subscribers compared to 5,0 million years earlier.
Segment NE був створений після придбання SpaceX компанії xAI. He brought 3,2 мільярди доларів доходу у 2025 year and 818 million dollars in the first quarter of 2026, зі збитками за скоригованим EBITDA 1,2 billion dollars in 2025 year and 609 million dollars in the first quarter of 2026. Звітність показує, що витрати SpaceX на розробки штучного інтелекту значно вищі за капіталовкладення в супутниковий чи космічний напрями. Такі інвестиції компанія аргументує перспективністю обраних ринкових ніш.
For reference: R&D (from English. Research and Development, що означає «дослідження та розробка») — це діяльність компанії, спрямована на створення нових знань, пошук інноваційних рішень та перетворення їх на нові або значно вдосконалені продукти, послуги й технології.
Source: https://spacenews.com