Starlink achieves cash-flow breakeven, says SpaceX CEO Musk

2023-11-05 18:00:24

Mobile World Congress (MWC) in Barcelona

Nov 2 (Reuters) – SpaceX CEO Elon Musk stated on Thursday the rocket firm’s satellite tv for pc web unit, Starlink, had achieved money circulate breakeven.

In 2021, Musk stated SpaceX would spin off and take Starlink public as soon as its money circulate was fairly predictable.

Since 2019, Starlink has grown its community in low-Earth orbit to roughly 5,000 satellites, swiftly positioning itself because the world’s largest satellite tv for pc operator and a rival to satellite tv for pc web companies comparable to Viasat (VSAT.O) and Eutelsat’s newly acquired OneWeb.

“Starlink can also be now a majority of all energetic satellites and can have launched a majority of all satellites cumulatively from Earth by subsequent 12 months,” Musk stated in a put up on social media platform X on Thursday.

Starlink has been within the highlight since final 12 months because it helps present Ukraine with satellite tv for pc communications key to its conflict efforts in opposition to Russia.

Final month, Musk stated Starlink will assist communication hyperlinks in Gaza with “internationally acknowledged help organizations” after a phone and web blackout remoted individuals within the Gaza Strip from the world and from one another.

Musk has sought to determine the Starlink enterprise unit as a vital income to fund SpaceX’s extra capital-intensive initiatives comparable to its next-generation Starship, an enormous reusable rocket the corporate intends to fly to the moon for NASA throughout the subsequent decade.

Starlink posted a greater than six-fold surge in revenue final 12 months to $1.4 billion, however fell wanting targets set by Musk, the Wall Road Journal reported in September, citing paperwork.