When it comes to finances, Elon Musk-led SpaceX’s landscape has typically appeared rather gloomy. The company endured prolonged losses, exacerbated by both the construction and testing expenses of the “Starship” rocket system and the costs associated with the satellite internet project “Starlink,” which had already garnered 1.5 million customers by May but was not yet turning a profit. However, according to the documents from the Wall Street Journal, after two years of losses, SpaceX has once again turned the tide and become a profitable company.
The documents indicate that in the first quarter of this year, SpaceX earned $1.5 billion in revenue and achieved a net profit of $55 million. In contrast, throughout the year 2022, the company generated $4.6 billion in revenue but still suffered losses of $559 million. These losses were largely attributed to the same “Starlink” project and the development and testing of “Starship.”
The majority of SpaceX’s revenue comes from contracts with governments and companies that use the company’s rockets to deploy satellites into orbit. SpaceX also has significant collaborations with NASA, which involve the transportation of valuable cargo and NASA astronauts to and from the International Space Station. SpaceX is actively engaged in NASA’s “Artemis” lunar mission program as well, with plans to send astronauts to the Moon.”
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