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Internal pre-Starlink SpaceX financials show big spending on moonshot bets

TechCrunchTechCrunch · 7m
Internal pre-Starlink SpaceX financials show big spending on moonshot bets

Confidential financial reports from SpaceX reveal the company's dependence on its Starlink business unit and the launch of its Starship rocket to achieve positive cash flow. The reports, from 2018 and 2019, show that while SpaceX's revenue increased to $1.98 billion in 2018 and $1.45 billion in 2019, the company operated at a net loss of -$308 million and -$501 million respectively. SpaceX's focus on the Starlink and Starship programs is evident through its spending on research and development. Despite this, SpaceX has seen significant growth and now has over 2.5 million customers for its satellite internet service. However, the launch of the Starship rocket is essential for expanding the capacity and reach of the Starlink network.

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