SpaceX ended 2025 with a profit of $8 billion: when it goes public, the company’s valuation could exceed $1.5 trillion.
SpaceX earned almost $8 billion in profit in 2025 with revenue of about $15–16 million
The space giant owned by Elon Musk, Space X, announced last year a net profit of roughly $8 billion and total revenue of $15–$16 million, Reuters reports based on an “informed source.” Anonymous experts estimate that the company is already ready for its first public offering (IPO) this year.
Why investors are watching SpaceX
| Factor | Explanation |
|---|---|
| High profitability | The earnings before interest, taxes and depreciation (EBITDA) figure signals strong operational efficiency. |
| Core revenue from Starlink | The satellite‑communications network accounts for 50 %–80 % of the company’s total sales. |
| Growing user base | Over 9 million subscribers worldwide; since 2019, 9 500 satellites have been launched. |
| Government contracts & Starshield | These provide a steady cash flow to develop the next‑generation Starship rocket. |
Possible steps toward an IPO
1. Merger with xAI
SpaceX is in talks with Elon Musk’s AI startup, xAI, about a joint public listing. A combined entity could boost technological appeal for investors.
2. Planned “world‑largest” IPO
The offering may be timed to coincide with Elon Musk’s 55th birthday on June 28, potentially generating extra media buzz and demand for shares.
3. Valuation above $1.5 trillion
Banks believe SpaceX could raise roughly $50 billion at such a market cap.
Technological milestones
| Technology | Highlights |
|---|---|
| Starship | • 11 test launches since 2023. • First satellite deliveries scheduled for this year. • Planned deployment of AI‑data‑center hubs in orbit (beneficial if merged with xAI). |
| Expanded spectrum | Last year the company acquired a frequency band from EchoStar, enabling Starlink to provide direct satellite‑to‑smartphone connectivity and open new markets. |
Bottom line
SpaceX shows steady revenue growth and profitability driven by its Starlink network, government contracts, and the innovative Starship rocket. A merger with xAI and an upcoming IPO could lift the company’s market value beyond $1.5 trillion and attract around $50 billion in investment. All of these developments are part of the preparation for what may become the largest equity offering in space‑industry history.
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