SpaceX Reveals Financials as It Prepares for Major IPO

SpaceX, the rocket and satellite maker founded by Elon Musk, has maintained an air of financial secrecy for years, despite its ambitious space exploration plans. This changed recently when the company disclosed its financial performance while gearing up for a significant public offering.

In 2025, SpaceX’s revenue surged to $18.7 billion, marking a 33% increase from the previous year. Revenue for the first quarter of 2026 was $4.7 billion, up from $4.1 billion in the same period of 2025. Despite these gains, the company experienced a loss of over $4.9 billion in 2025, a sharp contrast to the $791 million profit it recorded in 2024. This loss was attributed to substantial capital expenditures, which nearly doubled to $20.7 billion due to heavy investments in artificial intelligence development. The financial losses continued into the first quarter of 2026, with SpaceX posting a $4.3 billion loss.

SpaceX, which also owns the social media platform X and xAI, the creator of the Grok chatbot, unveiled these financials for the first time as part of its preparation for an initial public offering (IPO). The company values itself at $1.25 trillion and plans to enter the stock market potentially as early as next month. It aims to raise between $50 billion and $75 billion from the IPO.

If successful, SpaceX’s IPO could open the door for other large offerings, including those from AI companies such as Anthropic and OpenAI, which are reportedly preparing for their IPOs. Last week, Cerebras, an AI chip maker, initiated the anticipated wave of offerings, experiencing a 68% increase on its first day of trading. This event marked the largest public offering of the year and the most significant since 2019 within the technology sector.