Famously secret about its finances, SpaceX opens its books for the first time
Summary
SpaceX filed detailed financial documents with the U.S. Securities and Exchange Commission ahead of a planned stock market debut possibly as soon as June 12, 2024. The filing showed the company earned $18.67 billion in 2025 but lost $4.94 billion, mainly due to spending on artificial intelligence (AI). Elon Musk will keep majority control after the company goes public.Key Facts
- SpaceX was founded in 2002 and operated privately until this recent financial disclosure.
- The company reported $18.67 billion in revenue for 2025, up from $14.02 billion in 2024.
- SpaceX had a small profit in 2024 but a $4.94 billion loss in 2025 due to heavy AI development costs.
- SpaceX estimates its total market opportunity at $28.5 trillion, mostly from AI-related services, with $2 trillion from space activities and Starlink internet.
- Elon Musk will hold 85.1% of the voting power after the public offering and remain CEO and chairman.
- Musk’s salary was $54,080 in 2025, while President and COO Gwynne Shotwell earned $1.08 million salary plus $85.8 million in stock awards.
- The company’s future could be affected by changes in U.S. government politics, spending, and regulations.
- SpaceX’s business includes rocket launches, space missions, satellite internet, and AI and social media ventures through recent acquisitions.
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