Comment by boshalfoshal
16 hours ago
SpaceX is _not_ profitable by most reasonable measurements of accounting. If you discount rocket depreciation costs and R&D, then yeah its profitable from starlink revenue.
16 hours ago
SpaceX is _not_ profitable by most reasonable measurements of accounting. If you discount rocket depreciation costs and R&D, then yeah its profitable from starlink revenue.
They haven't released a 10k yet so we don't know, but from what I understand SpaceX+X.ai is not GAAP profitable.
SpaceX was, but SpaceTwitter is not. xAI is hoovering all the money out of SpaceX.
SpaceX reuses its boosters 20+ times. Surely the depreciation is tiny when compared to the revenue of 60M+ per launch?
The entire space launch market is about $20B with multiple competitors in 2025. And by the most generous estimates it is going to be $80B by 2035. They can reuse the rockets as much as they like, the company isn’t worth $1.7T.
3x growth in ten years is the “most generous” estimate?
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How can you say “The company isn’t worth X”? Isn’t the company worth exactly as much as people are willing to pay for its shares?
I don’t personally think Google is worth $4T but the share price says otherwise.
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They also have to replace 20%+ of their satellite network every year.
why is that ?
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What about the R&D costs of blowing up vehicle after vehicle?
They have over 300 falcon 9 launches in a row now, just in case you’re not caught up on the latest
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Depreciation isn't the only thing that matters. R&D, manufacturing, maintenance, fuel, launch, support staff, and I'm sure there are countless others.
I'm not saying they aren't profitable. I don't know, but it's definitely not a given.
They did report FCF before xai and also invested at least $1B before they merged xai
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Between launches alone, Starlink and Starshield, SpaceX will likely be a money printing machine for a long time.