SpaceX finally files IPO prospectus, reveals revenue is up–but losses are too

The IPO prospectus, long-awaited for the much-hyped rocket maker that’s been around since 2002, brought forward financials that have long been speculated on. But now we know something that was perhaps suspected: SpaceX is growing rapidly, but its losses are also expanding.

The filing revealed that SpaceX brought in $4.69 billion in revenue in the first three months of 2026, which is up 15.4% from the first quarter of 2025, when the company’s revenue came in a little over $4 billion in revenue.

Simultaneously, SpaceX’s losses are also accelerating. In the first quarter of 2025, SpaceX’s net losses were roughly $528 million, a number that rocketed to more than $4.27 billion in the same period in 2026—a difference of more than $3.7 billion.

The filing also confirmed that Musk, also CEO of Tesla, has more than 50% control of the company. The filing reads: “Mr. Musk will control the voting power over the selection of our board. As a result, Mr. Musk will have the power to control the outcome of matters requiring shareholder approval, including election of all our directors.”

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