SpaceX Files for US IPO, Reports Wider Q1 Loss

MT Newswires Live05:38

Space Exploration Technologies (SPCX), known as SpaceX, filed an S-1 registration statement with the US Securities and Exchange Commission late Wednesday for an initial public offering.

In the quarter ended March 31, the company reported a net loss of $1.27 per diluted share, widening from the loss of $0.18 a year ago. Revenue rose to $4.69 billion from $4.07 billion.

Elon Musk's rocket and satellite company estimates its quantifiable total addressable market at $28.5 trillion, spanning space-enabled solutions, Starlink broadband and mobile services, and AI-related markets, according to the filing.

SpaceX has applied to list its shares on Nasdaq and Nasdaq Texas under the ticker SPCX and will use a dual-class structure that gives Class B shares 10 votes each, ensuring Musk retains majority voting control.

The filing does not include an expected IPO price range.

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