> $18.7B revenue in 2025. Starlink alone was $11.4B
But ... you do realize how you have to use those numbers right? SpaceX owns Starlink. So let's do some basic accounting.
For ease of calculation I call upon the Math Gods to change $11.4B to $12B.
SPCX -> Starlink $12B
Starlink -> SPCX $12B
SPCX uses 50% more than that amount to launch the rockets (because SPCX has a negative margin (if you include debt service + research), after with 50% SPCX would have less than $5B loss). Hence:
SPCX -> $18B (to whatever SPCX does to build rockets)
In other words: your fabulous "Starlink alone was $11.4B" really means SpaceX lost $18B (a bit less) and gained starlink shares, which it already owned ... in other words: that revenue represents a $18B loss for the company.
This is the same problem people have with AI spending, but there the math is 100x more complicated.
But ... you do realize how you have to use those numbers right? SpaceX owns Starlink. So let's do some basic accounting.
For ease of calculation I call upon the Math Gods to change $11.4B to $12B.
SPCX -> Starlink $12B
Starlink -> SPCX $12B
SPCX uses 50% more than that amount to launch the rockets (because SPCX has a negative margin (if you include debt service + research), after with 50% SPCX would have less than $5B loss). Hence:
SPCX -> $18B (to whatever SPCX does to build rockets)
In other words: your fabulous "Starlink alone was $11.4B" really means SpaceX lost $18B (a bit less) and gained starlink shares, which it already owned ... in other words: that revenue represents a $18B loss for the company.
This is the same problem people have with AI spending, but there the math is 100x more complicated.