News
SpaceX Crew Dragon spacecraft sails home after flawless in-flight abort test
SpaceX’s newest Crew Dragon spacecraft has successfully returned to port aboard one of the company’s dedicated recovery vessels, neatly wrapping up what appears to have been a completely flawless in-flight abort (IFA) test.
Designed to prove that Crew Dragon can safely escape a failing Falcon 9 rocket at essentially any point from the launch pad to orbit, SpaceX voluntarily chose to perform a full-fidelity IFA test – something NASA left up to both it and Boeing. Boeing instead decided to extrapolate from a pad abort test – which SpaceX completed in 2015 – and a presumably large number of digital simulations to verify that Starliner would survive an in-flight abort.
To be clear, NASA is explicitly okay with this, but space agency officials did not shy away from openly embracing the superiority of integrated flight testing at several points both before, during, and after SpaceX’s second Crew Dragon launch. Although it will almost certainly remain (publicly) unsaid, there should be little doubt that for astronauts scheduled to fly on either Crew Dragon and Starliner, the successful completion of in-flight abort and pad abort tests almost certainly engenders at least a little more confidence in the vehicle they will be entrusting their lives to.
It’s worth noting that although NASA argues – perhaps soundly – that digital modeling, a pad abort test, and an orbital flight test are enough to determine whether any given spacecraft is safe enough to launch US astronauts, the unspoken reality – or at least a large part of it – is that cost is a major concern. At this point in time, NASA’s Commercial Crew Program (CCP) contracts are expected to cost a total of $3.1B for SpaceX and $5.1B for Boeing – both including at least four total orbital launches of their respective spacecraft.
In simpler terms, despite the fact that SpaceX has received a full $2 billion (~40%) less than Boeing to accomplish the same tasks in the same time, SpaceX’s Crew Dragon completed a flawless orbital launch debut and space station rendezvous with Crew Dragon almost 10 months before Boeing’s Starliner suffered a serious partial failure in space. Simultaneously, for $2 billion less, SpaceX has now given NASA a seemingly flawless full-up in-flight abort test of Crew Dragon before the space agency will fully entrust the spacecraft with the safety of its astronauts.
In the last 10 or so weeks, Boeing has thus suffered a minor Starliner parachute failure, a far more concerning spacecraft failure during its first orbital flight test (OFT), has no plans to perform an in-flight abort test, and nevertheless still wants Starliner’s next launch to carry NASA astronauts.
A clear path ahead
SpaceX, on the other hand, has now completed two seemingly-flawless integrated launches of Crew Dragon on a Falcon 9 rocket – one of which successfully rendezvoused with the ISS and returned to Earth; the other of which has now proven that Crew Dragon can whisk astronauts to safety from a failing supersonic rocket. SpaceX says it will carefully inspect capsule C205 and eventually refurbish the spacecraft, although it’s entirely unclear what kind of mission the company could foreseeably reuse it on in the near future.
Speaking shortly after Crew Dragon’s second flawless launch, SpaceX CEO Elon Musk said that he had spoken with NASA administrator Jim Bridenstine just prior to the post-launch press conference and together came up with a response to the most obvious question: when will SpaceX fly astronauts? In short, Musk was almost certain that all the hardware needed for the Demo-2 astronaut test flight – Falcon 9 booster, F9 upper stage, Crew Dragon capsule C206, and a Dragon trunk – will be completed, tested, and delivered to Cape Canaveral by late-February 2020.
If everything goes exactly as planned, NASA – prior to launch – indicated that an early-March 2020 launch was actually within reach. After launch, Musk tempered expectations, stating that SpaceX would almost certainly launch its first NASA astronauts sometime in Q2 – perhaps as early as April. Regardless, it looks like we wont have to wait more than a few months to find out.
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Tesla (NASDAQ: TSLA) reported its earnings for the third quarter of 2026, marking a reasonable performance on the various financial metrics. Tesla still plans to hold a call that will field investor questions at 5:30 p.m. ET, 4:30 p.m. CT.
Here’s where Earnings came in:
- Total Revenues: $28.046 reported vs. $28.34B expected
- Non-GAAP EPS: $0.48 reported vs. $0.45 expected
- Operating Margin: 2.6 % reported vs. 2.5% expected
- Operating Income: $718M reported vs. $721M expected
- Free Cash Flow: $1.531B reported vs. ~-$4.51B expected
Tesla $TSLA Earnings Results:
Revenues: $28.046B
Non-GAAP EPS: $0.48
Operating Margin: 2.6%
Operating Income: $718M
FCF: $1.531B— TESLARATI (@Teslarati) October 21, 2026
Major Takeaways
Full Self-Driving (Supervised)
“FSD (Supervised)⁴ attach rate continued to grow, reaching over 75% of new vehicle deliveries in North America – our most mature market – a nearly twenty percentage point sequential increase. We believe that FSD is driving demand in markets where it is available, and we continue to work with regulators to get it approved in other markets.”
Tesla Semi
“We began volume production of Tesla Semi, our Class 8 heavy-duty truck. The top variant can go 500 miles at full 82,000 lbs gross combination weight while achieving an efficiency of 1.7 kWh/mile. That efficiency allows the Tesla Semi to use a third of the energy used by a comparable diesel truck to haul the same payload. In a transportation market where energy is one of the largest components of total cost per mile, this will provide a meaningful advantage to Tesla Semi operators.”
SI Compute
“We plan to reach 400 MW of SI training compute by the end of the year, supporting the development of both vehicle and humanoid robot autonomy software. Additionally, we continued construction for the Austin Fab, where we plan to start commissioning equipment in 2027.”
Robotaxi
“We began deployment of Cybercab into our Robotaxi fleet in Austin. We reached nearly two million cumulative unsupervised miles for our Robotaxi service as of the end of the quarter. Operating hours in Austin are now 6am to midnight, and we expect to reduce wait times via increased fleet supply and improvement of Robotaxi orchestration algorithms. Grok is available in Cybercab with access to Grok Bot and Connectors, which allows users to manage their inbox, calendars, files, chats and tasks – all hands free via voice command – making Cybercab a mode of transport, a productivity space and, with our entertainment options, a second living room.”
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Tesla (NASDAQ: TSLA) reports its earnings for Q3 today. Here’s what to expect, as the company will reveal its balance sheet after the market closes on Wednesday.
Tesla already reported deliveries just after Q3 ended, and it demolished Wall Street consensus estimates of roughly 462,000 vehicles. Tesla delivered 486,532 cars in the third quarter, which was a big beat, but was down 2.1 percent from the same quarter last year. Energy storage deployments were 13.7 GWh, up year-over-year.
Tesla showrooms picked clean ahead of Q3 end as demand looks strong
For the quarter, analysts have already compiled their predictions for what Tesla will report this afternoon:
- Total Revenues: $28.34B
- Non-GAAP EPS: $0.43
- Operating Margin: 2.5%
- Operating Income: $721M
- Free Cash Flow: ~-$4.51B
Here are a few things we are looking forward to hearing about on the call:
Automotive Gross Margin and Overall Profitability
This was 16.3 percent in Q2, down from 19.2 percent in Q1, and was impacted by warranty charges and some fading regulatory credits. Consensus implies overall gross margin near 18 percent, but a miss here would potentially reinforce concerns about pricing pressure on its vehicles.
Pay attention to energy storage margins as well, especially since Tesla missed GWh expectations, although it was still a strong quarter.
Robotaxi/Cybercab, Unsupervised FSD, and Optimus Progress
The Say questions from retail investors usually focus on these types of projects, and this quarter is no different. Scaling the Cybercab fleet beyond Austin amid the open NHTSA safety review, timeline for Unsupervised FSD in customer cars, Robotaxi unit economics, and Optimus cost per unit plus when it could start generating revenue, are all things to be looking for.
Any concrete timelines or regulatory path details will likely move the stock more than the near-term numbers. SpaceX merger speculation, which was detailed during SpaceX’s earnings call last night, may also surface, although the key details were shared last night.
Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for
Say Investor Questions
- How does the Cybercab fleet scale past Austin, and what’s the regulatory path outside Texas given NHTSA’s open safety review?
- When can we anticipate FSD unsupervised in customer cars?
- When will the CyberCab be available for customer purchase/ownership?
- What’s the unit economics per paid robotaxi mile, and how does it compare to the thirty-cent target?
- Tesla has acknowledged that HW3 vehicles cannot support unsupervised FSD. When will owners know whether they can upgrade their hardware for free, and when will Tesla provide a clear plan?
The full Earnings Call will be streamed this evening after market close around 5 p.m. this evening.
SpaceX confirmed the date of Starship’s 15th launch window with some massive ambitions for the mission, as it will attempt to catch Ship for the first time.
CEO Elon Musk confirmed during SpaceX’s Earnings Call last night on October 20 that it would launch Starship for its 15th test flight in November, and there are some incredible things the company wants to try, making it perhaps the most groundbreaking launch in the program’s history.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
The most major development of the call was SpaceX’s intention to catch Ship alongside catching the Super Heavy Booster, something that has happened in the past. SpaceX showed an animation of the Ship catch, which will be done on the launch tower’s chopsticks:
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u
— Truthful🛰️ (@Truthful_ast) October 20, 2026
This monumental goal is to catch both the Ship and Booster in a dual-catch scenario, an incredible feat since SpaceX has never been able to reuse a Ship after launch. Musk said it would be “the first time that an orbital launch vehicle has been fully recovered,” and said it would be a “profound technology milestone.”
Musk said the odds of success on this first Ship catch attempt are “more likely than not,” but SpaceX is ultimately prepared for more tries moving forward. The SpaceX frontman said that, starting next year, Starship would have a “steady stream” of flights through the end of the year.
The cadence will accelerate in 2027, with Musk stating the company plans to target weekly flights in the first half of 2027 and twice-weekly by year-end.
The Flight 15 attempt follows that of Flight 14, which took off in late September and was Starship’s first orbital mission. It deployed 26 Starlink V3 satellites, accomplished a controlled ocean splashdown of both stages, and shed more light on potential challenges for the program moving forward.
As of now, the Starship program is firing on all cylinders.
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Tesla Q3 2026 Earnings results: in-line revenues, slight beat on EPS
Tesla reports Q3 Earnings today: here’s what to expect
