SpaceX plans a $75 billion IPO on June 12 targeting a $1.75 trillion valuation at a 94x trailing price-to-sales multiple and allocating 30% of shares to retail investors. Sales hit $18.67 billion in 2025 (up 33%), 60% from 10.3 million Starlink users across 9,600 satellites; xAI merger drove a $4.94 billion net loss.
SpaceX will raise approximately $75 billion in its June 12 IPO, seeking a $1.75 trillion valuation. The offering is priced at $135 per share, reflecting a 94x trailing price-to-sales ratio, one of the highest multiples among major public companies.
Thirty percent of shares are reserved for retail investors, distributed through platforms such as Robinhood, Fidelity, and Schwab. While this broad allocation underscores a push to democratize access, high demand may still leave many individual investors partially or entirely unfilled.
In 2025, SpaceX generated $18.67 billion in sales, a 33% year-over-year increase driven by Starlink, which accounted for 60% of revenue. The satellite internet network served 10.3 million users via a constellation of 9,600 satellites, cementing its role as the company’s primary cash generator.
Despite robust top-line growth, SpaceX reported a $4.94 billion net loss in 2025 after completing its merger with xAI. The integration of the money-losing artificial intelligence business increased overall losses, underscoring ongoing challenges in achieving profitability across diversified operations.
