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Space Exploration Technologies Corp. (SPCX)
Space Exploration Technologies will go public soon. The estimated IPO date is June 12, 2026.
Stock Price: Pending
IPO price not available yet

Revenue Breakdown

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023
Period Ending
Dec '25 Dec '24 Dec '23
Launch Services Revenue
2.58B2.58B
Launch Services Revenue Growth
-0.31%31.57%
Launch & Development Revenue
1.51B1.21B
Launch & Development Revenue Growth
24.59%-23.92%
Total Space Revenue
4.09B3.80B
Total Space Revenue Growth
7.64%6.72%
Consumer Revenue
7.21B4.83B
Consumer Revenue Growth
49.23%71.46%
Enterprise & Government Revenue
4.18B2.77B
Enterprise & Government Revenue Growth
50.92%163.21%
Total Connectivity Revenue
11.39B7.60B
Total Connectivity Revenue Growth
49.85%96.41%
Advertising Revenue
1.84B1.73B
Advertising Revenue Growth
6.71%-25.61%
AI Solutions & Infrastructure Revenue
1.36B892.00M
AI Solutions & Infrastructure Revenue Growth
52.13%39.81%
Total Artificial Intelligence (AI) Revenue
3.20B2.62B
Total Artificial Intelligence (AI) Revenue Growth
22.18%-11.52%
Revenue (Total)
18.67B14.02B
Revenue (Total) Growth
33.24%34.93%

Revenue by Geography

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023
Period Ending
Dec '25 Dec '24 Dec '23
USA Revenue
12.97B10.01B
USA Revenue Growth
29.56%33.92%
Ireland Revenue
1.83B1.37B
Ireland Revenue Growth
33.26%30.95%
Canada Revenue
764.00M582.00M
Canada Revenue Growth
31.27%30.20%
All Other Countries Revenue
3.12B2.05B
All Other Countries Revenue Growth
51.75%44.65%
Revenue (Total)
18.67B14.02B
Revenue (Total) Growth
33.24%34.93%

Revenue Breakdown 2

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023
Period Ending
Dec '25 Dec '24 Dec '23
Products Revenue
1.51B1.47B
Products Revenue Growth
2.72%34.49%
Services Revenue
17.16B12.55B
Services Revenue Growth
36.82%34.98%
Revenue (Total)
18.67B14.02B
Revenue (Total) Growth
33.24%34.93%

Adjusted EBITDA

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023
Period Ending
Dec '25 Dec '24 Dec '23
Space Adjusted EBITDA
653.00M1.15B
Space Adjusted EBITDA Growth
-43.41%15.75%
Connectivity Adjusted EBITDA
7.17B3.85B
Connectivity Adjusted EBITDA Growth
86.23%140.26%
Artificial Intelligence (AI) Adjusted EBITDA
-1.24B347.00M
Artificial Intelligence (AI) Adjusted EBITDA Growth
--71.60%
Operating Income (Total)
-2.59B466.00M

EBIT

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023
Period Ending
Dec '25 Dec '24 Dec '23
Space Income from Operations
-657.00M21.00M
Connectivity Income from Operations
4.42B2.01B
Connectivity Income from Operations Growth
120.49%327.72%
Artificial Intelligence (AI) Income from Operations
-6.36B-1.56B
Operating Income (Total)
-2.59B466.00M

Capital Expenditures

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
FY 2025FY 2024FY 2023
Period Ending
Dec '25 Dec '24 Dec '23
Space Capital Expenditures
3.83B2.03B
Space Capital Expenditures Growth
88.58%35.74%
Connectivity Capital Expenditures
4.18B3.50B
Connectivity Capital Expenditures Growth
19.44%42.48%
Artificial Intelligence (AI) Capital Expenditures
12.73B5.63B
Artificial Intelligence (AI) Capital Expenditures Growth
125.94%1116.63%

Key Performance Indicators

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2025FY 2024FY 2023
Period Ending
Mar '26 Dec '25 Dec '24 Dec '23
Total Backlog
27.62K28.38K-
Total Backlog Growth
-2.66%--
Backlog to be Recognized Over NTM
36.00%53.00%-
Mass to Orbit Launches - Space (Metric Tons)
-2.21K1.70K
Mass to Orbit Launches - Space (Metric Tons) Growth
-30.25%40.41%
Number of Falcon Launches - Space
-165.00134.00
Number of Falcon Launches - Space Growth
-23.13%39.58%
Number of Starship Launches - Space
-5.004.00
Number of Starship Launches - Space Growth
-25.00%100.00%
Total Number of Launches - Space
-170.00138.00
Total Number of Launches - Space Growth
-23.19%40.82%
Starlink Subscribers - Connectivity
10.30M8.90M4.40M
Starlink Subscribers - Connectivity Growth
15.73%102.27%91.30%
Starlink ARPU - Connectivity (USD per month)
-81.0091.00
Starlink ARPU - Connectivity (USD per month) Growth
--10.99%-8.08%
Nameplate Compute Draw - Artificial Intelligence (AI) (Gigawatts)
-0.800.30
Nameplate Compute Draw - Artificial Intelligence (AI) (Gigawatts) Growth
-166.67%-
Updated Mar 31, 2026. Data Source: Fiscal.ai.