Starship
Fully reusable super-heavy launch system still in flight testing. Test flights have slipped repeatedly in 2026.
The numbers
What it is
Starship is a two-stage, fully reusable rocket meant to lower launch costs and carry Starlink satellites, cargo and eventually crews to the Moon and Mars. Development runs through repeated test flights from Starbase in Texas.
Why it matters to the stock. Starship is the main cost in the Space segment, at roughly $3 billion of research spending in 2025, and its success decides whether the next Starlink generation can be deployed at scale. Each flight result moves the stock more than most launch news.
News
Starship reaches orbit for the first time and deploys 26 Starlink satellites
SpaceX's Starship completed its 14th test flight from Starbase, Texas, on September 28, 2026, its first flight to reach orbit.
Starship Flight 13 deploys 20 Starlink V3 satellites and ship soft-splashes in Indian Ocean
Starship Flight 13 launched from Starbase, Texas, on July 24, 2026, the second flight of the V3 vehicle after Flight 12 in May.
Starship Flight 12 flies the first V3 vehicle; ship splashes down in Indian Ocean as planned
Starship Flight 12 flew the upgraded V3 version of the vehicle from Starbase, Texas, on May 22, 2026.
SpaceX public S-1 shows $18.7 billion 2025 revenue and $4.9 billion net loss
SpaceX's public S-1 showed 2025 revenue of $18.7 billion, a net loss of $4.9 billion and an operating loss of $2.6 billion, with adjusted EBITDA of $6.6 billion.