Wallstreetcn
2023.07.18 10:59
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Report: SpaceX expects its revenue to double to $8 billion this year, with its latest valuation approaching $150 billion.

SpaceX will complete its second round of equity sales at $81 per share, with a valuation close to $150 billion, representing an increase of approximately 5% from $77 per share in January.

On July 18th, The Information cited insider sources as saying that Tesla's space exploration company SpaceX informed investors that it expects its revenue to reach $8 billion (approximately RMB 57.2 billion) in 2023, about twice the revenue of the previous year.

Insiders said that excluding the cost of manufacturing rockets and satellites, SpaceX expects its operating profit this year to be about $3 billion (approximately RMB 21.45 billion).

CNBC reported that after announcing the sale of internal shares last week, SpaceX's valuation has approached $150 billion. According to a copy of the acquisition offer issued by SpaceX CFO Bret Johnsen, the company has reached agreements with new and existing investors to sell up to $750 million worth of shares at a price of around $81 per share.

This time, SpaceX did not issue new shares or raise capital, but provided existing shareholders with an opportunity to cash out their shares. In April of this year, Tesla stated that the company "does not expect to raise funds" to further support projects such as Starship. SpaceX usually conducts two secondary financings each year, giving employees and other shareholders the opportunity to sell their shares.

In January of this year, SpaceX raised $750 million in a financing round, with the company's stock price at $77 per share, bringing its valuation to $137 billion.

This means that the stock price shown in the new acquisition offer has increased by about 5% compared to the previous secondary sale price of $77 per share.

Has SpaceX monopolized global rocket launches?

Tesla founded SpaceX in 2002 with the aim of one day transporting humans to other planets. Since then, SpaceX has gradually established a monopoly position in the rocket launch business through active testing and improvement of its carrier rockets.

SpaceX is also the only company that transports NASA astronauts to the International Space Station. A few years ago, SpaceX began handling national security space flights in the United States, ending ULA's previous monopoly in this field.

On July 7th, according to launch data compiled by astrophysicist Jonathan McDowell, in 2022, 66% of customer flights from US launch sites were powered by SpaceX rockets, and this proportion for the first six months of this year was 88%.

This reflects that SpaceX has achieved a de facto "monopoly position" in the rocket launch field, including transporting astronauts and launching satellites. Their flight speed is unmatched by competitors, and their prices are lower.

According to The Wall Street Journal, former Air Force Space Operations Officer John Holst said, "Competitors are currently unable to launch any products, making SpaceX the de facto monopolist."

In response to this, Tesla replied on Twitter on Friday:

The goals of the country and the company are too low, and their lack of ambition is their shortcoming.

SpaceX's mission is to enable life to become multi-planetary.

Even if only a little success can be achieved in this goal, it will bring better performance to the Earth's orbit.