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SpaceX's Starlink satellite internet breaks even

by on07 November 2023

Two million subscribers 

There's now two million subscribers to SpaceX's Starlink satellite internet service, with CEO Elon [look at me] Musk claiming the service has "achieved breakeven cash flow."

Like many of Musk's announcements he did not specify whether that milestone was hit on an operating basis or for a specified time period. In fact, SpaceX President and Chief Operating Officer Gwynne Shotwell announced that Starlink "had a cash flow positive quarter" in 2022, and the overall SpaceX company reportedly turned a profit in the first quarter of 2023.

SpaceX's valuation has soared to about $150 billion, with Starlink seen as a key economic driver of the company's goals.

Two years ago, Musk emphasised that making Starlink "financially viable" required crossing "through a deep chasm of negative cash flow."

Musk has discussed spinning off Starlink to take it public through an initial public offering once the business was "in a smooth sailing situation."

But timing of a Starlink IPO remains uncertain. Last year, Musk told employees that taking the business public wasn't likely until 2025 or later.


Last modified on 07 November 2023
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