SpaceX is optimistic for the future
It looks like SpaceX has a pretty optimistic targets in the financial terms. The in-house documents, published by The Wall Street Journal, provide insight into SpaceX’s financial performance and its goals.
According to the document, the company lost serious money due to the rocket explosion in 2015. One of the details in the report mentions that so far, the most importation financial foundation for achieving the goal of Mars journey is the satellite internet business.
The Wall Street Journal has underlined the financial results and forecasts of SpaceX’s non-public 2011 and 2015 financial results. The documents generally show that the company has set very large targets for itself, but it is not very close to realizing them. For instance, it is seen that due to the rocket explosion in the June of 2015, the company lost $ 260 million. While SpaceX has completed the two years before the explosion with operational profit, it seems that the company has carried out its operations with a very small margin of profit to break the price.
Elon Musk’s pursuit of big dreams makes SpaceX an interesting company. However, although Musk can help everyone to influence his imagination, he can not always keep his promise or complete it on time. For example, Musk does not want to publicize SpaceX’s Mars plans until he has successfully completed his mission. However, this is not expected to happen before 2024. The CEO of SpaceX promised to transport people in three years in 2011. However, as of 2017, this promise has not yet been fulfilled. When you look at the financial statement, it is thought that SpaceX is a company that is not very solid on its bases and often comes to the market with rocket problems.
Private companies and agreements made with NASA show that the company’s revenue, which was $ 680 million in 2013, rose $ 1 billion in 2014. However, due to the explosion in 2015 and the delays resulting from it, revenue has fallen by 6 percent and the year has reached $ 250 million with a loss. As of the end of 2015, although the company has $ 1.3 billion in cash, the company says it has brought less cash than invested.
The documents also provide information about the company’s large-scale plan for profitability. SpaceX is planning to send 4,000 communication satellites in order to expand global internet access. The company plans to earn more than 30 billion dollars in income from this project by 2025 and reach 40 million subscribers. However, this projection is also very optimistic. For example, Comcast had only $ 12 billion in revenue in 2015 with its high-speed internet service.
According to SpaceX’s predictions, the telecommunication satellites to be used for internet access can be the main activity of the company as of 2020. Between 2020 and 2025, this business segment is expected to generate an operating profit of between $ 15 and $ 20 billion. However, there is not even a factory for this business line that is still in the planning stage. The first phase of the project is planned to be online in 2018.
SpaceX aims to launch a rocket every week in 2019
Looking at the projections made for 2016, it is seen that the company aims to complete the year with an income of 1.8 billion dollars and an operating profit of 55 million dollars. However, it should be noted that this projection was made on 20 successful rocket launches. The company had been able to throw only 8 rockets over the past year. Therefore, it is unlikely that the identified targets have been met. The company plans to send 27 rockets in 2017, and in 2019 it aims to launch a rocket every week. However, it should be reminded that the company, which is the CEO of Elon Musk, is able to launch a maximum of 8 rockets in a year. While SpaceX is an exciting company, it can be said that the goals it has set are a bit too optimistic.