SpaceX revenue grew 33% to $18.7 billion in fiscal 2025, but the company recorded a $4.9 billion net loss amid expansion costs.
SpaceX reported $18.7 billion in revenue for fiscal 2025, a 33% increase from the prior year, driven by growth in its Starlink broadband service and reusable rocketry. The company now serves 10.3 million Starlink subscribers across 164 countries and territories as of March 2026.
Despite top-line growth, SpaceX posted a net loss of $4.9 billion for the period, reversing a prior-year net income during its aggressive expansion phase. The company’s current ratio stands at 1.4x, while its debt-to-equity ratio is 0.6x, reflecting ongoing investment in satellite deployment and infrastructure.
SpaceX’s strategy focuses on reducing launch costs through reusability and scaling its satellite constellation, contrasting with peers like BWX Technologies, which specializes in nuclear manufacturing for government contracts.