New report details SpaceX’s enormous launch and Internet ambitions – Ars Technica

A privately held company, SpaceX has kept its finances largely shrouded from public view since its founding nearly 15 years ago. But now The Wall Street Journal has obtained financial documents that provide a revealing look at the company’s successes—and struggles—as it has sought to remake the global launch industry this decade.

The report, which reviewed finances for the company from 2011 through 2015, shows SpaceX made a modest profit until its catastrophic accident in 2015, when a Falcon 9 rocket carrying supplies to the International Space Station exploded during its ascent to orbit. Despite revenues of nearly $1 billion in 2015, the company lost $260 million, the newspaper reported. Financial results for 2016, when SpaceX lost another rocket on the pad during a static fire test, were not available but are likely to be similarly grim.

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