Overview
- SpaceX filed an S-1 with the U.S. Securities and Exchange Commission in May 2026 and is targeting a Nasdaq debut on June 12, 2026 under the ticker SPCX with Goldman Sachs named as lead left underwriter.
- The company is seeking to raise between roughly $40 billion and $75 billion and is targeting an implied post-IPO valuation near $1.75–2.0 trillion, a sum that would make the offering the largest IPO on record if achieved.
- SpaceX reported about $18.7 billion in revenue for 2025 and roughly $4.69 billion in Q1 2026 while posting large net losses of about $4.94 billion for 2025 and $4.28 billion in Q1 2026, figures disclosed for the first time in the prospectus.
- Starlink generated the bulk of revenue—about $11.4 billion in 2025 and $3.3 billion in Q1 2026—while the company’s AI operations (including xAI and X-related businesses) produced about $3.2 billion in 2025 revenue but recorded substantial losses that materially drove the company’s overall deficit.
- The offering preserves founder control through a dual-class share plan that leaves Elon Musk with roughly 85 percent of voting power, and the IPO remains subject to SEC review, market demand and final pricing decisions that will determine whether SpaceX reaches its fundraising and valuation goals.