SpaceX Q3 revenues up 161% YoY

Elon Musk reported some remarkable financial numbers during SpaceX’s Q3 earnings call. Talking to analysts, he said that the company could reach $500 billion (€596m) to $1 trillion in annual recurring revenue by the end of 2027.

Total quarterly revenue at the moment is $14.58 billion, up 161 per cent y-o-y and up 87 per cent from the previous quarter. Net income is now in positive territory at $4.04 billion compared with a loss of $1.05 billion for the same period last year. SpaceX is targeting $100 billion in overall revenues for the full 2026 year.

SpaceX’s Starlink consumer subscribers now number 13.6 million, up 89 per cent y-o-y. ARPU rose by $3 (from Q2) to $69 per month.

More than 3,800 aircraft were equipped with Starlink as of September 30th and 12,000 aircraft are under contract to have Starlink added. This is said to be around a quarter of the available commercial aircraft market.

Musk talked about the much-rumoured merger between SpaceX and Tesla and said that both companies had set up special committees to examine the prospect. The committees did not include Musk.

However, not everything is positive. The WSJ has reported that it was Musk himself who directed that the Starlink/Starshield satellite coverage over Ukraine be switched off. According to the newspaper, Musk personally ordered, on October 14th, to limit the capabilities of Starlink used by the Ukrainian army, affecting not only offensive drones, but also those tasked with intercepting Russian attacks.

This decision comes just a few days after Trump’s criticisms of Ukrainian strikes on Russian refineries, which he accuses of contributing to the rise in diesel prices, two weeks before the midterms. Musk himself had stated that Zelensky had “gone too far”. Musk has previously said that Ukraine should give up some of its territory to Russia.

There are calls from US-based politicians that the US Congress should be recalled in order to discuss the matter. Reuters is reporting that the ultimate order to end coverage over Ukraine came from the White House.

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