SpaceX is growing fast and posted more than $4 billion in net income in the third quarter of 2026.
For 2025, the company reported $18.674 billion in revenue. It also reported a net loss of $4.937 billion.
In the second quarter of 2026, SpaceX posted $7.814 billion in revenue and a $541 million net loss. In the third quarter, revenue rose to $14.575 billion, net income was $4.404 billion, and operating income was $2.791 billion.
To size up SpaceX, though, you need more than revenue and losses. Since the xAI acquisition, spaceflight, satellite internet, and AI belong to the same company.
This article collects the key SpaceX statistics for 2026. You'll get numbers and facts on the IPO, Starlink, AI capacity, Starship, and Falcon 9. Here's the short version:
- SpaceX closed its IPO on June 15, 2026. At $135 per share, the gross proceeds were $86.25 billion. The SEC filing reports $85.675 billion in net proceeds after $575 million in offering costs.
- In the third quarter of 2026, SpaceX reported $14.575 billion in revenue (up 161%), $4.404 billion in net income, and $2.791 billion in operating income. The second quarter still showed a $541 million net loss.
- Starlink had about 13.6 million consumer subscribers at September 30, 2026, and AI compute capacity rose to 1.7 gigawatts. Starship reached orbit for the first time on September 28, 2026.
1. IPO and financial results
SpaceX set its IPO price at $135 per share on June 11, 2026. Trading on Nasdaq began the next day under ticker SPCX.
After the underwriters exercised their full overallotment option, SpaceX closed the offering on June 15 with 638.9 million shares. At $135 per share, that equals $86.25 billion in gross proceeds. The SEC quarterly filing reports $85.675 billion in net proceeds after $575 million in underwriting commissions and offering costs.
1.1 Private valuations and the IPO
The first five bars show reported private company valuations from funding rounds, planned financings, and sales of existing shares. The IPO offer-price value and the first market close (June 12, 2026, $160.95 per share) are shown as separate bars.
gradually.aiAfter the underwriters exercised their full overallotment option, the prospectus listed 7.464 billion Class A shares and 5.696 billion Class B shares outstanding. Multiplying the combined total by $135 per share gives an implied market value of about $1.78 trillion at the offer price.
1.2 Market value compared with Big Tech
At the October 26, 2026 close ($146.90) and 13.58 billion Class A and Class B shares, SpaceX has a market capitalization of about $2 trillion. That puts it behind Nvidia, Apple, Microsoft, Alphabet and Amazon, but ahead of Meta and Tesla. Boeing, the largest traditional aerospace group, is worth only a fraction of that.
The chart uses the same trading close for every company. The article on the SpaceX IPO shows the share price path since the first trading day.
gradually.ai1.3 Total addressable market in the prospectus
The same prospectus estimates SpaceX's total addressable market at $28.5 trillion: $370 billion for Space, $1.6 trillion for Connectivity, and $26.5 trillion for AI. SpaceX excludes China and Russia from its calculation.
1.4 Financial results and revenue by segment
In its audited annual figures, SpaceX's EU prospectus reports consolidated revenue of $18.674 billion for 2025. The company recorded a net loss of $4.937 billion that year.
According to the quarterly release filed with the SEC, revenue in the second quarter of 2026 rose 92% year over year to $7.814 billion. The company reported a net loss of $541 million. Adjusted EBITDA was $3.538 billion, a non-GAAP measure.
At quarter end, SpaceX reported $100 billion in cash, cash equivalents, and marketable securities, along with a $47.5 billion backlog. SpaceX also closed its first bond issuance, totaling $25 billion, on June 26.
In its Q3 results release of October 20, SpaceX reported revenue up 161% to $14.575 billion (Q3 2025: $5.576 billion). Revenue for the first nine months of 2026 was $27.083 billion.
Net income was $4.404 billion, compared with a net loss of $1.054 billion in the prior-year quarter. Operating income was $2.791 billion, after negative $143 million in Q2. Adjusted EBITDA rose to $8.809 billion (Q2: $3.538 billion).
Capital expenditure in the third quarter was $19.593 billion, of which $16.444 billion went to the Super Intelligence segment. On September 30, SpaceX held $51.294 billion in cash and cash equivalents and $38.561 billion in marketable securities.
The Space segment reported $1.767 billion in Q3 2026 revenue (Q2: $962 million). Connectivity reported $5.248 billion (Q2: $4.291 billion). The former AI segment is now called Super Intelligence and reported $7.560 billion (Q2: $2.561 billion). That includes $608 million in Cursor revenue since the acquisition closed on August 14. Connectivity includes enterprise and government services as well as Starlink.
1.5 Segment operating income
In Q3 2026, segment operating income was negative $7 million for Space (Q2: negative $542 million), positive $2.367 billion for Connectivity (Q2: positive $1.656 billion), and positive $431 million for Super Intelligence (Q2: negative $1.257 billion). Super Intelligence earned that after $1.217 billion in share-based compensation related to the Cursor acquisition.
For 2025, SpaceX reported $11.387 billion in Connectivity revenue and $4.423 billion in operating income for that segment. The prospectus says Starlink primarily drives Connectivity, which also includes enterprise and government services.
1.6 How many employees does SpaceX have?
The prospectus reports more than 22,000 full-time employees worldwide, 21,896 of them in the United States and 725 abroad (as of April 30, 2026).
The jump to 22,621 is largely due to the xAI acquisition: the April 30, 2026 figure includes 3,173 employees in the AI segment, which earlier year-end figures do not. Space accounts for 11,665 and Connectivity for 5,551.
2. xAI, Cursor, and AI capacity
According to SpaceX's quarterly filing, SpaceX completed its acquisition of xAI on February 2, 2026. xAI is now a wholly owned subsidiary.
2.1 xAI funding rounds
An SEC Form D filed on December 5, 2023, reported $134.7 million in equity sold to that date under an offering of up to $1 billion. xAI announced $6 billion for Series B in May 2024 and another $6 billion for Series C that December.
On July 1, 2025, Morgan Stanley reported $10 billion in financing, split between $5 billion in debt and a separate $5 billion strategic equity investment. xAI announced a completed $20 billion Series E in January 2026.
gradually.ai2.2 Cursor acquisition
SpaceX and Cursor signed the agreement on June 16, 2026; the acquisition became effective on August 14. The SEC filing gives the transaction an implied equity value of $60 billion and says consideration was primarily SpaceX Class A shares. In its Q3 release, SpaceX reports $608 million in Cursor revenue from the August 14 closing through September 30. That covers just under seven weeks and is not an annual figure. Share-based compensation related to the acquisition was $1.217 billion in the third quarter. For more on the code editor, see my Cursor statistics.
2.3 AI compute capacity and Grok usage
SpaceX calls its installed GPU capacity “Nameplate Compute Draw.” It was 0.4 gigawatts in Q2 2025. The reported figure rose to 1.0 gigawatt in Q1 2026, 1.4 gigawatts in Q2 2026, and 1.7 gigawatts on September 30.
SpaceX attributes the increase to the buildout of Colossus and Colossus II.
In the quarterly release, SpaceX also reported cloud service agreements totaling $14.1 billion in “contracted sales.” These are signed contracts that are non-cancellable over their terms.
In an announcement on January 6, 2026, xAI reported more than one million H100 GPU equivalents for Colossus I and II at the end of 2025.
In its prospectus, SpaceX reported about 117 million monthly active users who used Grok AI features on March 31, 2026. The company also reported that Grok Imagine generated an average of about 10 billion images and more than 2 billion videos per month during the first quarter.
3. Starlink subscribers and satellites
Two metrics show how Starlink is growing, subscriber lines and satellites in orbit.
3.1 Starlink subscriber lines
SpaceX counts Starlink subscribers as service lines, and one person or organization can have several. Directly negotiated enterprise and government contracts are excluded.
The Q3 release speaks of consumer subscribers, counting personal and business plans but not managed enterprise and government customers. Its comparison value for June 30 is 12.0 million, unchanged.
The prospectus reports 2.3 million service lines at the end of 2023 and 4.4 million at the end of 2024. SpaceX reported 5.0 million on March 31, 2025, and 8.9 million at the end of that year. There were 10.3 million on March 31, 2026, and, according to its Q2 release, 12.0 million on June 30. According to the Q3 release, there were 13.6 million on September 30, up 1.6 million in the quarter. Monthly average revenue per consumer subscriber was $69 (Q2: $66).
SpaceX reported coverage across 164 countries, territories, and other markets on March 31, 2026, in its prospectus. The Q2 release updates subscriber lines but does not give a newer total for geographic reach.
3.2 Starlink satellites in orbit
Jonathan McDowell's Starlink catalog listed 13,015 satellites launched as of October 15, 2026. Of those, 11,154 were still in orbit and 11,140 were classified as working. The working total subtracts satellites classified as failed from those still in orbit.
“Still in orbit” includes working and failed satellites. An earlier count from October 2 listed 9,727 satellites in an operational orbit.
4. Starship: 14 integrated flight tests
According to SpaceX flight reports, Starship had completed 14 integrated flight tests through September 28, 2026. I classified the flights as successes, partial successes, and failures myself, based on SpaceX's summary of vehicle reusability and the NASA Spaceflight archive.
During Flight 13 in July, Starship deployed 20 Starlink V3 satellites and relit a Raptor engine in space. SpaceX reported in its Q2 filing that the flight achieved all its objectives.
Flight 14 reached orbit for the first time and deployed 26 Starlink V3 satellites on September 28, 2026. The mission ended after about three hours. SpaceX had planned six orbits, which would have taken roughly ten hours. The Associated Press reported that Starship then splashed down in the Pacific.
5. Falcon family and the global launch market
NASA's Aerospace Safety Advisory Panel counted 165 Falcon 9 orbital missions in 2025. The boosters returned successfully on 162 missions.
NASA reports that all 165 Falcon 9 orbital missions in 2025 used Falcon 9. Its report gives 134 launches for the Falcon family in 2024.
BryceTech counted 325 orbital launches worldwide that year. Dividing SpaceX's 165 launches by that total gives about 50.8%. This calculation leaves 160 launches for all other providers.
Spaceflight Now reported that the 700th Falcon-family launch took place on September 13, 2026. The total comprised 687 Falcon 9 launches and 13 Falcon Heavy launches.
In the third quarter of 2026, SpaceX counted 35 missions according to its Q3 results release, 12 for customers and 23 internal. Over the first nine months, the total was 113 missions.
6. Conclusion
SpaceX now publishes detailed quarterly results, while independent catalogs track the orbital status of individual satellites. See our Grok statistics for more AI data.
