SpaceX has revealed its financials for the first time as it prepares for a potentially massive IPO. The New York Times reports: SpaceX's revenue soared to $18.7 billion in 2025, up 33 percent from a year earlier, the company disclosed in a filing required of firms that are seeking to go public. In the first three months of this year, revenue rose to $4.7 billion from $4.1 billion in the same period a year ago. But the company lost more than $4.9 billion last year, compared with a $791 million profit in 2024, as capital expenditures nearly doubled to $20.7 billion from heavy spending on artificial intelligence development. In the first three months of this year, SpaceX lost almost as much money as all of 2025, recording a $4.3 billion loss.

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