SpaceX’s rocket segment generates $619 M revenue, far below its $2 trillion IPO valuation
The S‑1 shows SpaceX’s launch business (Space segment) posted $619 million in Q1 2026 revenue and a $351 million adjusted EBITDA loss, while the IPO market values the whole company at about $2 trillion. That gap signals investors are betting on future Starlink and AI satellite revenues, not current rocket cash flow.