SpaceX reportedly targets 2026 IPO as valuations rise

SpaceX has told investors it is aiming for an initial public offering in the second half of 2026, The Information reported, citing two people familiar with the matter.

The company is reportedly considering listing the entire business, including its Starlink satellite internet unit.

The move comes as SpaceX launches a secondary share sale that could value the company at up to US$800 billion, while Bloomberg News reported insider shares might be sold at a price valuing it at about US$560 billion.

These developments follow growing investment in the US space sector, driven by increased competition in rockets and satellites.

🔗 Source: Reuters

🧠 Food for thought

Implications, context, and why it matters.

SpaceX revenue supports a 2026 IPO timeline, while valuation stays uncertain

SpaceX revenue in 2024 is estimated at $13.1 billion, up 51% from $8.7 billion in 2023 1 2. Starlink contributes about $8.2 billion after doubling year over year and now makes up 63% of the total 1 2.
The service posted its first positive cash flow quarter in 2022 and was on track to profit in 2023 3. About 79% of 2024 revenue near $6.5 billion comes from subscriptions rather than equipment sales 2.
The $560 to $800 billion range assumes big growth 2. Current numbers do not support those valuation multiples which are ratios to revenue or earnings, since 4.6 million users bring in under $2,000 each per year 2. Meeting that bar needs either far more users or higher ARPU 2.
Elon Musk has said SpaceX would wait for regular Mars flights before going public 3. He has floated a first crewed Starship which is SpaceX’s fully reusable heavy-lift rocket under development as early as 2026, so IPO timing may hinge on technical milestones as well as finances 3.

Enterprise partners can tap pre-IPO growth through the Starlink reseller program

Reseller targets start at $5 million in annual recurring revenue which is reachable with roughly 2,500 active terminals which are user antennas plus modems at $165 per month or 6,500 at $65 per month, setting a clear path for managed service providers and system integrators which are firms that design and deploy complex IT and communications solutions 4.
Authorized partners get account control and can bundle software-defined wide area network (SD-WAN), cybersecurity, 24/7 network operations center (NOC) support, plus industry tools 4 5. That mix helps them stand apart.
Specialized plans carry higher prices 6 2. Global Priority which is a high-availability service tier for mission-critical or mobile use starts at $250 per month versus $65 for basic plans 6. Government-focused Starshield which is SpaceX’s secure satellite service portfolio for public-sector missions contributed about $2 billion or roughly 25% of Starlink revenue in 2024 2.
An IPO push could speed Starlink enterprise sales to feature predictable subscription revenue for public investors, which could lift demand for partners that handle install, integration, and managed services.