A Falcon Heavy rocket launches the USSF-67 mission from NASA’s Kennedy Space Center in Florida, Jan. 15, 2023.
SpaceX
According to The Wall Street Journal, SpaceX achieved profitability in the first quarter of this year, driven by a substantial increase in revenue. The privately held company’s financial documents reveal a profit of $55 million on revenue of $1.5 billion for the quarter. In 2022, the company experienced a loss of $559 million on revenue of $4.6 billion, indicating significant progress in reducing losses and increasing revenue compared to the previous year.
This rare glimpse into SpaceX’s financials provides insight into its current performance as it focuses on expanding its Starlink internet satellite service and accelerating the deployment of its Starship rocket for transporting payloads to space. The success of Starship is crucial to SpaceX’s future endeavors, enabling faster expansion of the Starlink network and creating new opportunities for commercial rocket services.
However, SpaceX’s ambitions come at a cost. The company reported total expenses of $5.2 billion in the previous year, a significant increase compared to $3.3 billion in the year before, emphasizing its dedication to advancing its projects.
Comments from SpaceX regarding these financial results are currently unavailable.
For more detailed information, refer to the full report on The Wall Street Journal.
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