Spacex financials show it is a big startup and the 4000 satellite internet business is the big payday
by noreply@blogger.com (brian wang) from NextBigFuture.com on (#299Y3)
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
Read more
- 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.
Read more