---
title: "SpaceX IPO filing reveals soaring revenue but deep losses"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287144508.md"
description: "SpaceX's IPO filing reveals $18.7 billion in projected 2025 revenue but a $2.6 billion operating loss, primarily from Starlink. The IPO could raise $75–80 billion, valuing the company at $1.75 trillion, surpassing Saudi Aramco. Elon Musk will maintain 85% voting power, with risks including Starship delays and high valuation."
datetime: "2026-05-21T02:07:28.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287144508.md)
  - [en](https://longbridge.com/en/news/287144508.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287144508.md)
---

# SpaceX IPO filing reveals soaring revenue but deep losses

Record-breaking filing: SpaceX disclosed $18.7 billion in 2025 revenue and a $2.6 billion operating loss, with Starlink contributing most of the profits. Historic valuation: The IPO could raise $75–80 billion at a $1.75 trillion valuation, surpassing Saudi Aramco’s record debut. Risks and control: Musk will retain about 85% voting power, while Starship delays and steep valuation present significant investor risks.

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