If anyone wants to get in early on these bags Echostar(ticker: SATS) has a contract to exchange spectrum for $40B of SpaceX shares.
SpaceX S-1
211–220 of 404 posts
Re: SpaceX S-1
#212Crazy this company will IPO for >1B with such bad financials! That said, Starlink seems to be a real cash machine, not as good as ads but enough to support AI bets. 2025: - Revenue: $18.7B, up from $14.0B in 2024 - Operating loss: -$2.6B - Net loss: -$4.9B - Adjusted EBITDA: $6.6B - Operating cash flow: $6.8B - Capex: $20.7B Segment breakdown: - Starlink / Connectivity: $11.4B revenue, $4.4B operating income, $7.2B a…
It's pretty much expected that a rapidly growing high tech company is gonna have a lot of losses and debt right? They're just spending huge amounts of money on capex. Not doing so would be like floating minerals in Starcraft: symptomatic of bad macro.
Now you have me imagining uThermal as CEO of SpaceX and I think it'd be worth it to see the cheese runs.
Re: SpaceX S-1
#213Re: SpaceX S-1
#214Earlier quoted context omitted.
you're right, looks I mixed up some numbers while googling. their revenue went from 11->53b in 6yrs which was very off from my original comment Which honestly surprises me, Uber was called a VC pump and dump scheme for years on HN before their IPO. Maybe that's the better lesson here (dont take financial advice from HN comments)
Uber WAS a pump and dump. Insiders used the public for exit liquidity and any public shareholders got stuck with a pretty crap stock. Uber went up 100% from IPO to mid 2025, Google went up 400% in that time period (and I picked 2025 to avoid the huge AI runup we have seen). It was hemorrhaging in many cities using extremely profitable cities like London and NYC to keep their global competitiveness. Uber was able to p…
I'm guessing COVID also played a major role. The other narrative around Uber's IPO was gig-work was evil and should be banned, then pandemic hit and everyone started using uber eats constantly. Looking at their revenue growth it started doubling after 2020
Re: SpaceX S-1
#215If any company can put profitable data centers in space, it will be SpaceX. But I doubt that any company can. The difficulties of the physics and engineering of cooling seem like they will always outweigh the advantages of keeping your data center on Earth. I am annoyed by the insistence that the value of this company comes from something that no one has been able to show is possible yet without multiplying it by the…
You know 'space' is a vacuum, right?
Re: SpaceX S-1
#216Earlier quoted context omitted.
Spacex is not too big to fail.
Yes but only if its added before the index funds. Let's just hope that the nasdaq and the other markets just don't take spacex (Nasdaq is literally bending its rules to accodomate SpaceX) The worst thing is that we don't even have a say in all of this and chances are most likely that its gonna IPO and get listed on the index funds soon and once it gets into Index funds, a lot of collateral damage might happen. I must…
Total market cap of NASDAQ 100 (QQQ) is $40 trillion, SpaceX joining that and immediately going to zero would be a 5% drop, big but not the worst we've seen.
Re: SpaceX S-1
#217"in May 2026, we entered into Cloud Services Agreements with Anthropic PBC (“Anthropic”), an AI research and development public benefit corporation, with respect to access to compute capacity across COLOSSUS and COLOSSUS II. Pursuant to these agreements, the customer has agreed to pay us $1.25 billion per month through May 2029, with capacity ramping in May and June 2026 at a reduced fee" Anthropic is paying them 1.2…
If this doesn't completely destroy any benefit of doubt that people have in Dario, I don't know what to say. The guy has been speaking out of both sides of his mouth since the foundation of Anth. Over and over he repeated that Anth's investment in compute would not be reckless; it would represent sanity and be proportional to growth. Over and over Anth told users that the models weren't nerfed overnight, we were just prompting wrong. As expected, Anth simply failed to make the early compute deals when everyone else did, and are now forced to be on the wrong end of price gouging just to keep pace. Actions speak louder than words.
Re: SpaceX S-1
#218This thread contains a significantly higher concentration of dumb than the typical front page post. Gee, I wonder why.
Re: SpaceX S-1
#219Earlier quoted context omitted.
The numbers overall are worse than I expected. I can't believe Serious People are talking about putting this in the market at a trilly. > Starlink seems to be a real cash machine It has been said more than once that Starlink financials cannot be analyzed apart from SpaceX financials. Very easy to move the launch costs from one entity to the other depending on whether it is more beneficial to show more revenue for Spa…
The use of EBITDA for Starlink is also interesting. For something like terrestrial fiber, I can imagine thinking that there’s a lot of depreciation on the books, but that most of the equipment keeps working after the depreciation period or is cheaper to replace than it was to buy, and that the right of ways and attachments don’t really depreciate. But Starlink satellites are actually gone at the end of their useful l…
Starlink satellites can likely have their life extended by quite a bit, like past constellation satellites did. But it doesn’t really matter as SpaceX is still upgrading capability like crazy. Starship will mean a factor of 10-100x Starlink capacity expansion.
Re: SpaceX S-1
#220Crazy this company will IPO for >1B with such bad financials! That said, Starlink seems to be a real cash machine, not as good as ads but enough to support AI bets. 2025: - Revenue: $18.7B, up from $14.0B in 2024 - Operating loss: -$2.6B - Net loss: -$4.9B - Adjusted EBITDA: $6.6B - Operating cash flow: $6.8B - Capex: $20.7B Segment breakdown: - Starlink / Connectivity: $11.4B revenue, $4.4B operating income, $7.2B a…
I'm surprised launch is only -$0.65B, given just how much were they sinking into launch infrastructure and R&D for Starship. Guess Falcon 9 the old reliable is still printing cash in the meanwhile.
"Printing cash" is generous given the expenses and attempted $2 trillion valuation.