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SpaceX files financial document ahead of IPO. After nearly a quarter of a century operating as a private company, with its financial accounts a closely guarded secret, SpaceX on Wednesday afternoon released a detailed accounting of its business in a nearly 400-page S-1 filing with the US Securities and Exchange Commission. Founded in 2002 and still led by Elon Musk, SpaceX submitted the filing in anticipation of an initial public offering of its stock as soon as June 12, Ars reports.
From money winner to money loser … The document revealed no major surprises about the company’s space operations, but there was a trove of details about its sprawling operations, which now encompass launch, spaceflight, space-based Internet, and, thanks to its recent acquisition of Musk’s xAI, social media and AI. The company reported revenues of $18.67 billion in 2025, up significantly from $14.02 billion the year before. However, after turning a small profit in 2024, the company lost $4.94 billion in 2025 largely due to spending on artificial intelligence development.
Roscosmos begins rocket advertising in earnest. Since January 1, Russian rockets have been regularly plastered with advertising for banks, restaurants, and more, Ars reports. Last fall, President Vladimir Putin, who has served in that role for all but four years this century, approved changes to federal laws governing advertising and space activities to allow for the placement of advertising on spacecraft.
Marginal gains so far … Six large advertisements have been placed on Russian rockets in 2026. These include ads for PSB Bank, the Kofemaniya restaurant chain, the Russian Media Group, and the Russian Olympic Committee. The other two were public service announcements. The policy change is intended to offset Roscosmos’ losses in recent years, which have mounted after the onset of Western sanctions. However, annual revenues from space advertising may only amount to a few million dollars per year.
Ground system issue scrubs Starship test flight. SpaceX got within 40 seconds of launching the first flight of a taller, more powerful version of its Starship rocket Thursday, but a pesky problem with the launch tower kept the vehicle bound to Earth for at least one more day, Ars reports. Clouds and rain showers cleared the area around SpaceX’s launch site in South Texas, leaving mostly sunny skies over the Starship launch pad Thursday afternoon. SpaceX pushed back the launch time by one hour, but the countdown appeared to proceed smoothly once propellants began loading into the rocket.
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