SpaceX has released its financial data for the first time as the company prepares for a possible initial public offering (IPO).According to the filing, the company generated $18.7 billion in revenue in 2025, a 33% increase compared to 2024.In the first quarter of 2026, revenue reached $4.7 billion, up from $4.1 billion during the same period the previous year.Despite this growth, SpaceX reported a loss of $4.9 billion in 2025, a sharp decline from a $791 million profit in 2024.The losses were attributed to a substantial increase in capital expenditures, which nearly doubled to $20.7 billion, driven largely by investments in artificial intelligence development.The first quarter of 2026 mirrored these losses, with SpaceX losing $4.3 billion.The financial disclosures highlight the company's aggressive expansion strategy and heavy investment in emerging technologies.

Analysts and investors are debating the implications of these results, particularly considering SpaceX's dominance in space launch services and its connection to Elon Musk's broader ventures.

While revenue is growing, the high losses and significant AI spending raise questions about the company's short-term profitability and the potential risks for future shareholders.