Filing: SpaceX reports 2025 revenue of $18.7B, up 33% YoY, a $4.9B loss, vs. a $791M profit in 2024, and $20.7B in capital expenditures, up from $11.2B New York Times: New York Times 2026-05-20 New York Times, SpaceX Related Coverage SpaceX just filed for what could be the biggest IPO ever The Verge · Thomas Ricker Elon Musk's SpaceX reveals its finances for the first time The Boston Globe SpaceX reports $4.6B revenue, $4.2B net loss in Q1 Crypto Briefing SpaceX's S-1 lays out its government work and market ambitions Washington Technology · Ross Wilkers SpaceX's $20.7 Billion in 2025 CapEx Fueled by AI, Spacecraft Bloomberg · Eric Johnson SpaceX has officially filed to go public, a move expected to make Elon Musk a trillionaire The Independent Discussion @danprimack Dan Primack on x Twitter had $1.2b of revenue in Q1 2022. SpaceX's AI unit, including X and Grok and all AI compute, was only $818m in Q1 2022. @danprimack Dan Primack on x $TSLA had 5x SpaceX revenue last year. This biz is not as big as expected.