Elon Musk’s space company SpaceX has filed an IPO application with Nasdaq under the ticker symbol SPCX. The rocket company formally submitted its S-1 IPO prospectus to the U.S. Securities and Exchange Commission on Wednesday, preparing for its investor roadshow scheduled for June 5. Elon Musk has not yet made any public comments on the recently disclosed financial information.
The IPO filing is expected to be released soon, but the document also provides investors with insight into SpaceX’s current financial position and profitability. For the three months ended March 31, 2026, SpaceX reported consolidated revenue of $4.694 billion, an operating loss of $1.943 billion, and adjusted EBITDA of $1.127 billion. The filing also states that for 2025, SpaceX’s consolidated revenue was $18.674 billion, with an operating loss of $2.589 billion and adjusted EBITDA of $6.584 billion.
According to Nasdaq regulations, SpaceX must file its IPO documents at least 14 days before its upcoming investor roadshow. SpaceX secretly submitted its S-1 filing to the U.S. Securities and Exchange Commission (SEC) in April to receive feedback on its upcoming IPO. At the time, it was reported that SpaceX aimed to raise up to $75 billion through this IPO, with a valuation nearing $1.8 trillion. However, the financial data disclosed in the latest IPO filing may alter this expected valuation.
In addition, the documents show that SpaceX's capital expenditures nearly doubled last year to $20.7 billion, up from $11.2 billion the previous year, primarily due to significant investments in artificial intelligence research and development. However, revenue is expected to surge to $18.7 billion in 2025, a 33% increase from the prior year, helping to offset the rising expenses.
SpaceX is expected to go public in June, paving the way for other large tech companies that have previously operated privately. Elon Musk’s competitors, OpenAI, are also targeting an IPO before the end of the year, and the AI startup Anthropic plans to go public as well. If SpaceX’s IPO succeeds, it could provide financial momentum for these other massive companies to eventually go public.