SpaceX posts $19 billion revenue, $5 billion net loss
SpaceX is pitching investors on a record $75 billion public offering, despite posting a net loss of nearly $5 billion in 2025.
The company generated nearly $19 billion in revenue in 2025, with a significant business scale and tech appeal.
The IPO filing shows the company’s scale, but also a gap in profitability, which may impact investor analysis.
Historical IPO data shows that money-losing companies tend to have a stronger opening, but a negative return after three years.