SpaceX, the company led by Elon Musk and known for its ambitious space missions, has unveiled its financial data. This marks a shift from the company’s previously enigmatic financial status. The disclosure comes as SpaceX prepares for a major public offering, potentially one of the largest ever.
The company’s financial statement indicates that revenues reached $18.7 billion in 2025, reflecting a 33% increase compared to the previous year. During the first quarter of this year, revenues grew to $4.7 billion from $4.1 billion in the same period last year.
Despite the revenue growth, SpaceX experienced a loss of over $4.9 billion last year. This result contrasts with a $791 million profit in 2024. The substantial loss is attributed to capital expenditures, which almost doubled to $20.7 billion, mainly due to investments in artificial intelligence development. In the first quarter of this year, SpaceX reported a $4.3 billion loss, nearly matching the total loss of 2025.
In addition to its space ventures, SpaceX holds ownership of the social media platform X and xAI, the creator of the Grok chatbot. By opening up its financial records for the first time, SpaceX is setting the stage for what could be one of the largest initial public offerings.
SpaceX, currently valued at $1.25 trillion, is looking to go public as early as next month. The company aims to raise between $50 billion to $75 billion through this offering. If successful, SpaceX’s IPO might encourage other significant offerings in the tech sector, including those from AI companies like Anthropic and OpenAI. OpenAI is reportedly planning to file confidentially for an IPO soon. Recently, Cerebras, an AI chip manufacturer, initiated a trend with its public offering, surging 68% on its first trading day. This event marked the largest tech firm public offering since 2019.