SpaceX’s Starlink satellite internet service has achieved a significant milestone, reaching two million subscribers. CEO Elon Musk announced that the service has achieved breakeven cash flow, although it was not specified whether this milestone was reached on an operating basis or for a specific time period.
Furthermore, SpaceX President and Chief Operating Officer Gwynne Shotwell revealed that Starlink had a cash flow positive quarter in 2022. It is also worth noting that the overall SpaceX company reportedly turned a profit in the first quarter of 2023.
Starlink is considered a crucial economic driver towards SpaceX’s goals, contributing to the company’s valuation soaring to approximately $150 billion.
Notably, two years ago, Elon Musk emphasized the financial viability of Starlink, stating that navigating through a significant period of negative cash flow was necessary for its success. Musk has even discussed the possibility of spinning off Starlink and making it public through an initial public offering, but the timing of such an IPO remains uncertain.
While Musk previously stated that a Starlink IPO was unlikely before 2025, or possibly even later, the future plans for taking the company public are still uncertain.
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