Starlink revenue in 2024 estimated at $6.6 billion
According to an independent analysis of the state of SpaceX’s Starlink constellation, the company will generate $6.6 billion in revenue in 2024.
The independent analysis was done by the market research firm Quilty, and was based largely on extrapolating out from Starlink’s 2.7 million known subscribers.
“We’re projecting a revenue jump from $1.4 billion in 2022 to $6.6 billion in 2024.”
To put that in perspective, the combined revenue of the two largest geostationary satellite operators, SES and Intelsat, which recently announced a merger, is around $4.1 billion. “The answer lies in their subscriber base,” explained Quilty. Viasat and Hughes, two dominant players in the consumer GEO satellite internet market for over 20 years, peaked at a combined 2.2 million subscribers in 2020. Starlink surpassed that number in just a few years, he said.
The financial outlook is equally impressive. Quilty Space estimates Starlink’s EBITDA (earnings before interest, taxes,depreciation, and amortization) to reach $3.8 billion in 2024, a significant leap from negative $128 million in 2022.”We expect Starlink to achieve positive free cash flow for the first time in 2024,” said Quilty.
This revenue number is even more astonishing when you compare it with the $12 billion in private capital the company has raised from investors since 2017. Next year alone SpaceX’s returns will cover half that investment, practically guaranteeing a generous profit in the coming years for those investors.
Even more significant, these revenues mean SpaceX now has a very healthy cash stream for completing construction of Starship/Superheavy, or in fact practically anything the company decides to build.
According to an independent analysis of the state of SpaceX’s Starlink constellation, the company will generate $6.6 billion in revenue in 2024.
The independent analysis was done by the market research firm Quilty, and was based largely on extrapolating out from Starlink’s 2.7 million known subscribers.
“We’re projecting a revenue jump from $1.4 billion in 2022 to $6.6 billion in 2024.”
To put that in perspective, the combined revenue of the two largest geostationary satellite operators, SES and Intelsat, which recently announced a merger, is around $4.1 billion. “The answer lies in their subscriber base,” explained Quilty. Viasat and Hughes, two dominant players in the consumer GEO satellite internet market for over 20 years, peaked at a combined 2.2 million subscribers in 2020. Starlink surpassed that number in just a few years, he said.
The financial outlook is equally impressive. Quilty Space estimates Starlink’s EBITDA (earnings before interest, taxes,depreciation, and amortization) to reach $3.8 billion in 2024, a significant leap from negative $128 million in 2022.”We expect Starlink to achieve positive free cash flow for the first time in 2024,” said Quilty.
This revenue number is even more astonishing when you compare it with the $12 billion in private capital the company has raised from investors since 2017. Next year alone SpaceX’s returns will cover half that investment, practically guaranteeing a generous profit in the coming years for those investors.
Even more significant, these revenues mean SpaceX now has a very healthy cash stream for completing construction of Starship/Superheavy, or in fact practically anything the company decides to build.