There’s now two million subscribers to SpaceX’s Starlink satellite internet service, with CEO Elon Musk announcing Thursday that it has “achieved breakeven cash flow…”
Long-time Slashdot reader SonicSpike shared this report from CNBC:
Musk did not specify whether that milestone was hit on an operating basis or for a specified time period. Earlier this year, SpaceX President and Chief Operating Officer Gwynne Shotwell said Starlink “had a cash flow positive quarter” in 2022, and the overall SpaceX company reportedly turned a profit in the first quarter of 2023.
SpaceX’s valuation has soared to about $150 billion, with Starlink seen as a key economic driver of the company’s goals. Two years ago, Musk emphasized that making Starlink “financially viable” required crossing “through a deep chasm of negative cash flow.”
Musk has discussed spinning off Starlink to take it public through an initial public offering once the business was “in a smooth sailing situation.” But timing of a Starlink IPO remains uncertain. Last year, Musk told employees that taking the business public wasn’t likely until 2025 or later.
