SpaceX to raise another $750 million in stock sale; earnings rise to $8 billion in ’23

According to anonymous sources, a new stock sale at SpaceX is likely to raise another $750 million because of enthusiasm on Wall Street for the stock due to the company’s growing earnings, which are expected to double to $8 billion this year.

Last week, CNBC reported that Elon Musk’s SpaceX valuation reached nearly $150B following an announcement of a stock sale by existing investors. According to a copy of the purchase offer sent by CFO Bret Johnsen, which CNBC obtained, the company has entered into an agreement with new and existing investors to sell up to $750 million in stock at a price of $81 per share. This represents a 5% increase from the previous secondary sale at $77 per share, which valued the company at approximately $140B. SpaceX has not provided any comments regarding the purchase offer.

Though the article does not say, that revenue comes from two sources, SpaceX’s rocket launches and its Starlink constellation. In the first case the company dominates the launch industry, because its launch price is so much cheaper than everyone else. In the second case, Starlink is producing so much revenue because Elon Musk forced the company to move fast and get its satellites in orbit quickly. Though both SpaceX and Amazon announced their internet constellations at about the same time, Amazon has still not launched any satellites, while SpaceX has more than 4,000 in orbit. This active and operating constellation has allowed SpaceX to grab market share that Amazon is now likely never to get, even when it begins launching.

All this makes SpaceX very appealing to investors, which is why its private stock price has gone up. It is also why it has been able to raise now almost $11 billion in private investment capital for building both Starlink and its Starship/Superheavy rocket.

SpaceX launches using its second Falcon 9 first stage on its sixteenth flight

SpaceX tonight successfully launched 54 Starlink satellites into orbit, lifting off from Cape Canaveral.

The Falcon 9 rocket used a first stage flying on its sixteenth flight, landing successfully on a drone ship in the Atlantic. That is the second 1st stage in SpaceX’s fleet to complete that many flights. Both first stages completed their sixteen flights in only three years, which means that those two first stages have actually flown more times than the entire United States rocket industry did annually from 2000 to 2019. I don’t have a full count, but I suspect both stages have launched in those three years more satellites then the totals for almost all other nations, excepting possibly Russia and the U.S. Both probably allowed SpaceX to amortize the cost of those launches considerably, possibly as much as 90%.

Just remember: Rocket industry experts were insisting even as late as 2016 that it was impractical to make rocket stages reusable, that to make a profit “a partially reusable rocket would need to launch 35-40 times per year to maintain a sizable production facility while introducing reused hardware into the manifest.” Based on that calculation, these experts determined with utmost certainty that a partly reusable rocket — like the Falcon 9 — could never make a profit.

Elon Musk must have agreed, and decided he needed an extra profit center for the Falcon 9. Starlink has provided that profit center. It not only needs that many launches, and pays for them, its profit stream from its internet customers is already adding to SpaceX’s bottom line.

Regardless, Musk has proved these “experts” utterly wrong. I always thought they were talking through their hat, but had no way to prove it. Thank you Mr. Musk for proving the point.

Note too that the two fairing halves on this flight were also reused, completing their ninth and tenth flights respectively.

The leaders in the 2023 launch race:

47 SpaceX
26 China
9 Russia
5 Rocket Lab
5 India

American private enterprise now leads China in successful launches 53 to 26, and the entire world combined 53 to 45, while SpaceX alone now leads the rest of the world (excluding other American companies) 47 to 45.

And it is doing this with that impractical, unprofitable, and impossible reusable Falcon 9 rocket. Heh.

SpaceX launches 22 Starlink satellites using a first stage for 16th time

SpaceX tonight successfully launched 22 Starlink satellites, its Falcon 9 rocket lifting off from Cape Canaveral using a first stage for a record sixteenth time, all achieved with a period of just over three years.

The stage successfully landed on its drone ship in the Atlantic. In addition, the two fairing halves each successfully completed its ninth flight.

In those three years this one first stage flew almost as many times as all of the launches of Russia (24), ULA (20), and Europe (20). Somehow, with those sixteen launches I think SpaceX has fully gotten its full value for what it spent building and refurbishing that stage.

To understand how routine SpaceX has made all this, when that first stage landed tonight there were no cheers at SpaceX, at all. There was just routine silence, as the launch crew proceeded with what has become an entirely routine procedure.

The leaders in the 2023 launch race:

46 SpaceX
25 China
9 Russia
5 Rocket Lab

American private enterprise still leads China in launches 52 to 25, and the entire world combined 52 to 43, with SpaceX by itself leading the rest of the world, excluding American companies, 46 to 43.

SpaceX launches another 48 Starlink satellites

Using its Falcon 9 rocket, SpaceX today successfully launched another 48 Starlink satellites, lifting off from Vandenberg Space Force Base.

The first stage completed its twelfth flight, landing softly on a drone ship in the Pacific. The two fairing halves completed their fourth and seventh flights respectively.

The leaders in the 2023 launch race:

45 SpaceX
24 China
9 Russia
5 Rocket Lab

In successful launches, American private enterprise now leads China 51 to 24 in the national rankings, while SpaceX by itself leads the entire world combined, excluding American companies, 45 to 42.

SpaceX launches Europe’s Euclid space telescope

SpaceX this morning successfully launched Europe’s Euclid space telescope, designed to map the spatial distribution of several billion galaxies across one third of the sky.

The first stage successfully completed its second flight, landing on a drone ship in the Atlantic. The two fairing halves completed their first flight.

This ESA science mission would have normally been launched on an Arianespace rocket, but Europe’s ability to launch anything now is nil, as it is about to retire its Ariane-5 rocket (with one launch left) and has so failed to get its replacement, Ariane-6, operational. As such, SpaceX got the business, since it is the cheapest and most reliable alternative.

The leaders in the 2023 launch race:

44 SpaceX
24 China
9 Russia
5 Rocket Lab

In the national rankings, American private enterprise now leads China in successful launches 50 to 24, and the entire world combined 50 to 41, with SpaceX by itself leads the entire world, excluding other American companies, 44 to 41.

SpaceX launches 56 more Starlink satellites

SpaceX this morning successfully launched another 56 Starlink satellites, with its Falcon 9 rocket lifting off from Cape Canaveral.

The first stage completed its eighth flight, landing on its drone ship in the Atlantic. The fairing halves completed their 7th and 10th flights, with the latter a new record.

The leaders in the 2023 launch race remain the same:

43 SpaceX
24 China
8 Russia
5 Rocket Lab

American private enterprise now leads China in successful launches 49 to 24 in the national rankings, and the entire world combined 49 to 40, with SpaceX by itself still leading the rest of the world, excluding other American companies, 43 to 40.

SpaceX launches another 47 Starlink satellites into orbit

Just after midnight tonight SpaceX successfully launched 47 more Starlink satellites, with its Falcon 9 rocket lifting off from Vandenberg Space Force Base in California.

The first stage completed its fourth flight, landing on a drone ship in the Pacific. Both fairing halves completed their third flight.

The leaders in the 2023 launch race:

42 SpaceX
24 China
8 Russia
5 Rocket Lab

American private enterprise now leads China in successful launches 47 to 24 in the national rankings, and the entire world combined 47 to 40, with SpaceX by itself still leading the rest of the world, excluding other American companies, 42 to 40.

SpaceX successfully launches Indonesian broadband satellite

SpaceX yesterday successfully launched an Indonesian broadband satellite, using its Falcon 9 rocket lifting off from Cape Canaveral.

The first stage completed its twelfth flight, landing on a drone ship in the Atlantic. The fairing halves completed their seventh and ninth flights respectively.

The leaders in the 2023 launch race:

41 SpaceX
23 China
8 Russia
5 Rocket Lab

American private enterprise now leads China 46 to 23 in the national rankings, and the entire world combined 46 to 39, with SpaceX by itself still leading the rest of the world, excluding other American companies, 41 to 39.

SpaceX launches 72 smallsats; lands a Falcon 9 1st stage for the 200th time

SpaceX today successfully launched 72 smallsats using its Falcon 9 rocket, lifting off from Vandenberg Space Force Base in California.

With this launch, SpaceX achieved a significant milestone, successfully landing a Falcon 9 first stage for the 200th time, an achievement that for more than a half century all managers and most engineers in the rocket business claimed was not only impossible, but impractical. They insisted that the first stage would not be able to be reused because of the stress of launch. SpaceX has proved these close-minded fools very wrong. This particular first stage completed its ninth mission on this flight, a number that has become very routine for SpaceX’s Falcon 9 first stages. The stage landed back at Vandenberg,

As of posting the satellites have not all deployed.

The leaders in the 2023 launch race:

40 SpaceX
22 China
8 Russia
5 Rocket Lab

American private enterprise now leads China 45 to 22 in the national rankings, and the entire world combined 45 to 38, with SpaceX by itself leading the rest of the world, excluding other American companies, 40 to 38.

SpaceX launches another 52 Starlink satellites

Just after midnight tonight (Pacific) SpaceX successfully launched another 52 Starlink satellites, its Falcon 9 rocket lifting off from Cape Canaveral.

The first stage successfully completed its ninth flight, landing on a drone ship in the Atlantic, the 199th time that SpaceX has accomplished this so-called impossible task. The two fairing halves completed their fourth and fifth flights respectively.

The leaders in the 2023 launch race:

39 SpaceX
22 China
8 Russia
5 Rocket Lab

American private enterprise now leads China 44 to 22 in the national rankings, and the entire world combined 44 to 38, with SpaceX by itself leading the rest of the world, excluding other American companies, 39 to 38.

Space Force awards SpaceX and ULA contracts for six launches each

As part of its long term launch agreement with SpaceX and ULA, the Space Force today awarded both companies contracts for six launches each, all to occur beginning in 2025.

According to the overall agreement, each company got five-year contracts to launch as many as 40 missions. ULA won 60% of the missions and SpaceX 40%. However, the delays to ULA’s Vulcan rocket will likely change those numbers:

In a report released June 8, the Government Accountability Office noted that the NSSL program office continues to order launch services from ULA and SpaceX amid concerns about Vulcan’s delays. “ULA delayed the first certification flight of the Vulcan launch system … to accommodate challenges with the BE-4 engine and a delayed commercial payload, nearly two years later than originally planned,” said GAO. “In the event that Vulcan is unavailable for future missions, program officials stated that the Phase 2 contract allows for the ability to reassign missions to the other provider.”

One of the reasons that ULA has not hurried its effort to make Vulcan reusable and more competitive with SpaceX is that is already has this guaranteed military launch commitment. It doesn’t need to be as competitive.

What needs to happen is a third or fourth company has to enter the market, giving the military other options. The military also has to cancel this long term launch agreement, which limits the number of companies it will do business with to just SpaceX and ULA. It would be much better to open the competition up to everyone. The ULA would be forced to compete.

SpaceX successfully launches cargo Dragon to ISS

Capitalism in space: SpaceX this morning successfully launched another cargo Dragon freighter to ISS, lifting off on a Falcon 9 rocket from Cape Canaveral.

This cargo capsule is on its fourth flight. The first stage completed its fifth flight, landing on a drone ship in the Atlantic. The capsule carries about 7, 000 pounds of supplies, including another set of new solar arrays for ISS, and will dock with ISS tomorrow.

The leaders in the 2023 launch race:

38 SpaceX
20 China
8 Russia
5 Rocket Lab

American private enterprise now leads China 43 to 20 in the national rankings, and the entire world combined 43 to 36. SpaceX by itself leads the world 38 to 36, but when you add other American companies it still trails everyone else combined 38 to 42.

SpaceX launches 22 2nd generation Starlink satellites

SpaceX this morning successfully launched another 22 2nd generation Starlink satellites into orbit, with its Falcon 9 rocket lifting off from Cape Canaveral at 8:20 am (Eastern).

The first stage completed its third flight, landing successfully on a drone ship in the Atlantic. The two fairing halves completed their sixth and ninth times respectively.

The company had hoped to follow this launch with a second from Cape Canaveral only hours later, sending a new Dragon cargo freighter to ISS, but that launch was scrubbed due to weather concerns later in the day. It has been rescheduled for tomorrow.

The leaders in the 2023 launch race:

37 SpaceX
20 China
8 Russia
5 Rocket Lab

American private enterprise now leads China 42 to 20 in the national rankings, and the entire world combined 42 to 36. SpaceX by itself leads the world 37 to 36, but when you add other American companies it trails everyone else combined 37 to 42.

SpaceX launches another 52 Starlink satellites

SpaceX tonight successfully launched another 52 Starlink satellites, using its Falcon 9 rocket lifting off from Vandenberg in California.

The first stage completed its fourteenth flight, landing successfully on a drone ship in the Pacific. The fairing halves completed their fifth and seventh flights respectively.

The leaders in the 2023 launch race:

36 SpaceX
20 China
8 Russia
5 Rocket Lab

American private enterprise now leads China 41 to 20 in the national rankings, and the entire world combined 41 to 36. SpaceX alone is now tied with the rest of the world combined 36 to 36, but trails the entire world including American companies 36 to 41.

AX-2 commercial passenger flight to ISS splashes down safely

Axiom’s second commercial passenger flight to ISS, dubbed AX-2, successfully splashed down in the Gulf of Mexico a little after 11 pm (Eastern) tonight after spending eight days in space.

Recovery efforts of the Freedom capsule are still underway by SpaceX crews. It is necessary again to emphasize that this is a private mission, launched by a private company in a privately owned capsule for a private company and private passengers. The only government involvement was when the capsule was docked to ISS and the crew was on the station.

SpaceX launches Axiom’s second commercial manned mission to ISS

SpaceX today successfully used its Falcon 9 rocket to launch its Freedom manned capsule on its second flight, carrying four passengers on Axiom’s second commercial manned mission to ISS.

The Axiom crew included three paying passengers, one from the U.S. and two from Saudi Arabia, with the fourth crew member former NASA astronaut Peggy Whitson, now acting as Axiom’s commander. They plan to spend eight days docked to ISS. Making this commercial flight even more interesting is that the station already has a Middle Eastern commercial astronaut, from the United Arab Emirates. The Arab space race is clearing heating up.

The first stage was making its first flight, and successfully landed back at Cape Canaveral.

Were you aware this was happening? With my readers I expect so, but I am willing to bet that we are a very small minority. SpaceX has now made American manned spaceflight so routine almost no one pays attention.

The leaders in the 2023 launch race:

34 SpaceX
18 China
6 Russia
4 Rocket Lab

American private enterprise now leads China 38 to 18 in the national rankings, and the entire world combined 38 to 30. SpaceX by itself is now tied in total launches with the rest of the world, including American companies.

SpaceX launches 5 Iridium and 16 OneWeb satellites

SpaceX early today successfully used its Falcon 9 rocket to put five Iridium and sixteen OneWeb satellites into orbit, lifting off from Vandenberg Space Force Base.

The first stage successfully completed its eleventh flight, landing on a drone ship in the Pacific. The two fairings completed their third and sixth flights respectively.

The leaders in the 2023 launch race:

33 SpaceX (with a launch scheduled for tomorrow)
18 China
6 Russia
4 Rocket Lab (with a launch scheduled for tomorrow)

American private enterprise now leads China 37 to 18 in the national rankings, and the entire world combined 37 to 30. SpaceX now trails the entire world combined, including American companies, by only 33 to 34.

SpaceX launches another 22 upgraded Starlink satellites into orbit

Using its Falcon 9 rocket SpaceX early today successfully launched another 22 upgraded Starlink satellites into orbit, lifting off from Cape Canaveral.

The first stage completed its fifth flight, landing successfully on a drone ship in the Atlantic. The fairings completed their eighth flight.

The leaders in the 2023 launch race:

32 SpaceX
18 China
6 Russia
4 Rocket Lab

American private enterprise now leads China 36 to 18 in the national rankings, and the entire world combined 36 to 30. SpaceX by itself only trails the entire world combined, including American companies, 32 to 34.

SpaceX launches another 56 Starlink satellites into orbit

Using its workhorse Falcon 9 rocket, SpaceX tonight successfully launched another 56 Starlink satellites into orbit from Cape Canaveral.

The first stage successfully completed its eleventh flight, landing on a drone ship in the Atlantic. The two fairings completed their 7th and 8th flights, respectively.

The leaders in the 2023 launch race:

31 SpaceX
17 China
6 Russia
4 Rocket Lab

American private enterprise now leads China 35 to 17 in the national rankings, and the entire world combined 35 to 29. SpaceX by itself trails the entire world, including other American companies, only 31 to 33 in launches this year.

SpaceX successfully launches another 51 Starlink satellites

SpaceX today successfully launched another 51 Starlink satellites, using its Falcon 9 rocket lifting off from Vandenberg Space Force Base in California.

The first stage successfully completed its third flight, landing on a drone ship in the Pacific. Both fairings completed their second flight in space.

The leaders in the 2023 launch race:

30 SpaceX
17 China
6 Russia
4 Rocket Lab

American private enterprise now leads China 34 to 17 in the national rankings, and the entire world combined 34 to 29. SpaceX by itself trails the entire world, including other American companies, only 30 to 33 in launches this year.

SpaceX launches 56 Starlink satellites into orbit

Using its Falcon 9 rocket, SpaceX tonight successfully placed 56 Starlink satellites into orbit, lifting off from Cape Canaveral.

The first stage completed its seventh flight, landing safely on a drone ship in the Atlantic. The two fairing halves completed their eighth and ninth flights, respectively.

The leaders in the 2023 launch race:

29 SpaceX
16 China
6 Russia
3 Rocket Lab
3 India

American private enterprise now leads China 32 to 16 in the national rankings, and the entire world combined 32 to 28. SpaceX now trails the rest of the world, including American companies, 29 to 31.

SpaceX successfully launches Falcon 9 from Cape Canaveral

SpaceX today successfully used its Falcon 9 rocket to put a SES communications satellite into orbit.

The first stage successfully completed its eighth flight, landing on a drone ship in the Atlantic.

The company also attempted to complete a second launch just a little more than three hours later from Cape Canaveral, but the countdown of the Falcon Heavy rocket aborted just 59 seconds prior to liftoff. No word on what happened, though the company has another launch window beginning around 7:30 pm Eastern time tomorrow. If successful it would be the second Falcon Heavy launch in 2023, using two side boosters flying their eighth and third flights respectively. Because of the fuel needs of the payload, neither the side boosters or the core stage will be recovered.

The leaders in the 2023 launch race:

27 SpaceX
16 China
6 Russia
3 Rocket Lab
3 India

American private enterprise now leads China 30 to 16 in the national rankings, and the entire world combined 30 to 28. SpaceX by itself trails the rest of the world, including other American companies, 27 to 31.

SpaceX and Canadian phone company Rogers sign deal

SpaceX and the Canadian phone company Rogers Communications yesterday announced that they have signed an agreement to provide satellite-to-phone communications to customers throughout Canada.

Rogers and SpaceX will offer satellite-to-phone technology in Canada using SpaceX’s Starlink low earth orbit satellites and Rogers national wireless spectrum. The companies plan to start with satellite coverage for SMS text and will eventually provide voice and data across the country’s most remote wilderness, national parks and rural highways that are unconnected today.

This deal makes SpaceX now a direct competitor to OneWeb, as it is apparently structured comparable to how OneWeb operates. Up until now, SpaceX has been almost exclusively marketing to individuals, who connect up to Starlink directly. OneWeb meanwhile provides its service to large ground-based customers who then sell their network — enhanced by OneWeb capabilities — to individuals or small businesses. Because of this difference in approach, the two companies were selling their wares to different markets, making the competition less intense.

SpaceX with this deal is copying OneWeb’s approach almost exactly, which means the competition for satellite internet communications is now going to heat up considerably. For users of the internet, this is the best thing that could happen.

SpaceX successfully launched 46 upgraded Starlink satellites

SpaceX early this morning successfully launched 46 upgrades Starlink satellites, launching its Falcon 9 rocket from Vandenberg Space Force Base in California.

The first stage successfully completed its thirteenth flight, landing on a drone ship in the Pacific. The two fairings completed their sixth and seventh flights respectively.

The leaders in the 2023 launch race:

26 SpaceX (with a Falcon Heavy launch planned later today)
16 China
6 Russia
3 Rocket Lab
3 India

American private enterprise now leads China 29 to 16 in the national rankings, and the entire world combined 29 to 28.

I have embedded the live stream of the Falcon Heavy launch below, for those that wish to view it. It is scheduled for a 7:29 pm (Eastern) launch from Cape Canaveral.
» Read more

SpaceX launches 21 second generation Starlink satellites

SpaceX this morning successfully used its Falcon 9 rocket from Cape Canaveral to launch 21 second generation Starlink satellites into orbit.

The first stage successfully completed its eighth flight, landing on a drone ship in the Atlantic.

The leaders in the 2023 launch race:

25 SpaceX
16 China
6 Russia
3 Rocket Lab

American private enterprise now leads China 28 to 16 in the national rankings, and the entire world combined 28 to 27. SpaceX now trails the entire world, including American companies, 25 to 30.

April 18, 2023 Quick space links

Courtesy of BtB’s stringer Jay.

 

 

SpaceX successfully launches 51 payloads using Falcon 9

SpaceX tonight successfully used its Falcon 9 rocket to launch 51 payloads into orbit, including a whole range of microsats, cubesats, and orbital tugs.

The first stage completed its tenth flight, landing at Vandenberg Space Force Base. The fairings completed their second and fifth flights respectively. As of posting the satellites have not yet deployed.

The leaders in the 2023 launch race:

24 SpaceX
15 China
6 Russia
3 Rocket Lab

American private enterprise now leads China 27 to 15, and the entire world combined 27 to 26. SpaceX by itself trails the entire world, including American companies, 24 to 29.

Axiom sets date for next commercial manned flight to ISS

Axiom and NASA yesterday announced May 8, 2023 as the launch date for the private company’s second commercial flight to ISS, this time carrying three passengers out of a crew of four, two from Saudi Arabia and the third, John Shoffner, completing his second paid flight with Axiom.

Two of its crewmates are Rayyanah Barnawi and Ali AlQarni, members of the first Saudi Arabian astronaut class. Barnawi will become the first Saudi woman ever to reach space, and she and AlQarni will be the first people from the kingdom to travel to the ISS.

Retired NASA astronaut Peggy Whitson will command the mission for Axiom. The Dragon capsule used will be Freedom, making its second flight, lifting off on a Falcon 9 rocket with a new first stage. The plan is to be docked to ISS for ten days, which means for that time period ISS will have three Arab astronauts on board, including the UAE’s astronaut, Sultan Al Neyadi, who is in the middle of a six month mission and is about to do his first spacewalk.

SpaceX successfully launches Intelsat communications satellite

SpaceX tonight successfully used its Falcon 9 rocket to launch an Intelsat communications satellite into orbit, lifting off from Cape Canaveral.

The first stage completed its fourth flight, landing on a drone ship in the Atlantic. The two fairings completed their second and eighth flights.

The leaders in the 2023 launch race:

23 SpaceX
14 China
6 Russia
3 Rocket Lab

American private enterprise now leads China 26 to 14 in the national rankings, and the entire world combined 26 to 24. SpaceX now trails the rest of the world combined, including American companies, 23 to 27.

SpaceX and Chinese pseudo-company complete launches

Two launches today. First, a new Chinese pseudo-company, dubbed Space Pioneer, completed the first launch of its liquid kerosene-fueled Tianlong-1 rocket, putting a military surveillance satellite into orbit.

Space Pioneer is the third Chinese pseudo-company to achieve orbit, but the first to do it with a liquid-fueled rocket. The previous two, Ispace and Galactic Energy, used solid-fueled rockets based on military missile technology. All of these Chinese companies follow a private model. An individual or a group of individuals creates the company, obtains private investment capital, and then wins contracts from the Chinese government. What makes them pseudo is that they do not work independently and freely, and really do not own their products. The Chinese government supervises and approves everything, and can take over at any time.

The second launch today was by SpaceX, using its Falcon 9 rocket lifting off from Vandenberg Space Force Base in California to put a new smallsat constellation of ten military satellites, designed to test the quick development (under two years) of such smallsats for use by the military.

The first stage successfully completed its second flight, landing back at Vandenberg. The fairings completed their fourth and sixth flights, respectively.

The leaders in the 2023 launch race:

22 SpaceX
14 China
6 Russia
3 Rocket Lab

American private enterprise still leads China 25 to 14 in the national rankings, and the entire world combined 25 to 24. SpaceX by itself trails the entire world, including American companies, 22 to 27.

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