The Wall Street Journal obtained Spacex internal documents which reveal Spacex has a thin bottom line vulnerable to accidents, hopes planned satellite-internet business will finance eventual Mars missions
- SpaceX lost $260 million in 2015. An explosion of a Falcon 9 rocket grounded Spacex for six months;
- Spacex ended 2015 with $1.3 billion in cash. This was mainly from a $1 billion investment by Google and Fidelity and upfront payments. This is similar to reservations for Telsa motors model 3.
- SpaceX projected $55 million in operating profit for 2016 based on launching 20 times, but it only flew eight times before a Falcon 9 exploded on the launch pad on Sept. 1 and grounded the booster
- SpaceX projected launching 27 times in 2017 with an increase to 44 in 2018;
- Spacex is betting big on its 4,000-satellite Internet business, expecting it to generate annual operating profits of $15 billion to $20 billion by 2025.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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1 thought on “Spacex financials show it is a big startup and the 4000 satellite internet business is the big payday”
The graphic repeated in this article is a SaVi rendering http://savi.sf.net/ taken from a SpaceNews Editorial, Wave of Constellation Fever Has a Familiar Ring (later retitled Constellation Choir Singing Familiar Tune), February 5, 2015, without credit or attribution.
See http://savi.sourceforge.net/papers/ for attribution terms.
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