SpaceX files for US IPO on Nasdaq under SPCX

TL;DR: SpaceX said in a US Securities and Exchange Commission filing that it plans to list on Nasdaq under the ticker SPCX, with the IPO potentially starting as early as next month. The filing did not disclose the offer size or valuation. SpaceX also reported Q1 2026 revenue of $4.7 billion, a net loss of $4.3 billion, and 10.3 million Starlink subscribers at the end of the quarter.

SpaceX confirmed plans for a US initial public offering in a Securities and Exchange Commission filing, with the listing set for Nasdaq under the symbol SPCX and a launch that could begin as early as next month. The filing did not state the size of the offering or a proposed valuation. The Financial Times had previously reported a possible valuation of $1.75 trillion and IPO proceeds of $75 billion. Goldman Sachs, Morgan Stanley and Citigroup are listed as underwriters.

SpaceX disclosed financial results in the filing, reporting Q1 2026 revenue of $4.7 billion, up 15.4% year on year, and a net loss of $4.3 billion, compared with a $528 million loss in the same quarter a year earlier. For full-year 2025, SpaceX reported revenue of $18.7 billion, up 33%. The company said its balance sheet included $102 billion in assets and net debt of $60.5 billion.

SpaceX said its Connectivity division, led by Starlink, was a major source of growth. Starlink subscribers increased from 2.3 million in 2023 to 4.4 million in 2024 and 8.9 million in 2025. By the end of Q1 2026, Starlink had 10.3 million subscribers and generated $3.3 billion in revenue, up 31.6%. For 2025, Connectivity revenue reached $11.4 billion, up 50%, and income was $4.4 billion, up 120%.

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