SpaceX Q3 Earnings Breakdown: $14.6B Revenue + Tesla Merger in 2027?
In this emergency Valuation Corner, Aman Verjee breaks down SpaceX's Q3 earnings call. Revenue came in at $14.6B against a $12.8B estimate, SpaceX posted its first profitable quarter, and Elon Musk said annual recurring revenue could reach $500B to $1T by the end of 2027, two years ahead of the guidance he gave on the IPO roadshow.
Aman walks through all three segments: space at $1.8B, Starlink at $5.2B (up 69% year over year) and the super intelligence segment at $7.6B, driven by compute contracts with Google and Anthropic and a partial quarter of Cursor. He covers the capex payback period…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.