News
SpaceX CEO Elon Musk forecasts a dozen Starship launches next year
CEO Elon Musk has provided a small update on SpaceX’s next-generation Starship rocket in a brief statement to and Q&A with the board of the US National Academies of Science, Engineering, and Medicine.
While it’s now been more than two years since Musk last gave a proper presentation on the Starship program, a number of excellent questions from board members still managed to extract a handful of new details about the fully reusable rocket, which the SpaceX CEO says aims to “be a generalized transport mechanism for the [entire] solar system.” According to Musk, though, the most pressing near-term issues facing SpaceX are more down to Earth.
Reiterated several times in his comments to the National Academies, Musk says that the current limiting factor for Starship is securing regulatory approvals from the FAA for the rocket’s first orbital test flights, which SpaceX and Musk initially hoped would begin as early as mid-2021. Targets from July to November 2021 have since come and gone, while SpaceX has only begun to make concerted progress towards Starship’s first orbital launch in the last two or so months. Almost two months after its first rollout, Starship S20 – the first orbital-class prototype – began integrated testing, completing ambient and cryogenic proof tests in late September and its first Raptor preburner and static fire tests in the second half of October.
Most recently, after almost a month spent inactive at SpaceX’s Starbase test facilities, Starship S20 fired up all six of its Raptor engines – the first test of its kind and a major milestone for the program. Save for the completion of some relatively simple closeout tasks, Starship S20 is now more or less qualified for flight after its successful static fire. That leaves Super Heavy Booster 4 (B4) – the first stage meant to carry Ship 20 into space – up next on SpaceX’s South Texas testing docket after almost four agonizing months spent sitting, untested, at various Starbase facilities.
Musk says that SpaceX preparing to complete “a bunch of tests in December” with the implication that those tests likely include the first full Super Heavy wet dress rehearsal (WDR) with thousands of tons of live propellant and the first several booster static fire tests. Recently refitted with 29 Raptor engines for the third time in four months, it appears that SpaceX is finally close to finishing Super Heavy B4 to a point that will allow the booster to begin integrated testing. Through Super Heavy B3, which completed testing this summer, SpaceX thankfully already knows that the basic booster design is a structurally sound pressure vessel with plumbing and systems capable of surviving a three-Raptor static fire.
Still, that’s barely more than 10% of the total number of engines Super Heavy will need operational to send Starship to orbit. After months at the pad, SpaceX is finally closing out Booster 4’s aft section and installing a basic heat shield around its 29 Raptor engines, which will produce up to ~5400 metric tons (~12M lbf) of thrust at liftoff – more than any other rocket in history. Following Starship S20’s recent success, SpaceX has now fired six Raptors simultaneously and in close proximity without issue. However, Super Heavy B4 will have to fire 29 engines packed into roughly the same amount of space. No other liquid rocket stage in history has a more densely-packed thrust section, averaging at least 85 tons of thrust per square meter (~125 psi) of available engine space.
It’s thus likely that SpaceX will split Super Heavy B4’s first static fire campaign into several different parts, possibly involving seperate tests of the center cluster of nine Raptor Center (RC) engines and outer ring of 20 Raptor Boost (RB) engines before firing up all 29 together. Even if that testing is completed without issue on the first attempts, SpaceX will still likely want to perform a full wet dress rehearsal – and possibly even another 29-engine static fire – with Ship 20 installed on top of Booster 4.
Musk also believes that Starbase’s first orbital launch site will be complete as early as “later this month” – essential for full booster testing. Once all testing is complete, Musk says Starship, Super Heavy, and Starbase should be ready for their first orbital launch attempt as early as January or February 2022. Of course, that launch is entirely contingent upon FAA environmental approval and launch licensing, the former still incomplete and the latter unable to proceed until the former is complete. If the FAA reaches a favorable conclusion, meets its recently-announced target of December 31st to complete Starbase’s environmental review, and grants SpaceX a new launch license just days or a few weeks later, a January-February launch isn’t out of the question.
Looking further into 2022, Musk also revealed that he hopes SpaceX will complete “a dozen [Starship] launches” next year – incredibly ambitious by any measure. There isn’t a rocket in history that’s achieved double-digit launches in the same year as its debut. More importantly, even if the FAA environmental review SpaceX is in the middle of ends with the best possible outcome for Starship, it limits the company to either 3, 5, or 8 (it’s somewhat ambiguous) orbital launch attempts per year. Still, even a ‘mere’ three orbital Starship launch attempts in 2022 would be an incredible acheivement for SpaceX – let alone five, or Musk’s forecast of a dozen.
SpaceX (NASDAQ: SPCX) will report its first public earnings call today since its IPO earlier this year, and there are a few things we expect to hear about, as well as Wall Street analysts, who have already outlined their expectations for the call.
Wall Street analysts have a consensus of $12.72 billion in revenue and an earnings per share (EPS) of $0.13. These are broken down into three sectors: Space, Connectivity, and AI/SI, which are perceived in this way:
- Space: $1.41 billion
- Connectivity: $4.84 billion
- AI/SI: $6.47 billion
Other outlets cluster near $12.8 or $12.9 billion in revenue and $0.14 – $0.15 EPS. This implies a roughly 65 percent sequential growth from Q2’s $7.81 billion, driven mostly by AI/SI, with the first post-IPO positive EPS expected.
Here are the three things to watch for on the call:
AI Revenue Ramp and the $100B+ ARR target
AI is truly the swing factor for SpaceX, and analysts expect it to roughly double from Q2’s $2.56 billion and become about half of total revenue. Management previously guided to a $100 billion+ annualized run rate by December, including the Cursor acquisition, which was $60 billion, to close the quarter.
Listen for updates on SpaceX’s compute capacity, especially pertaining to its contracts with Google, Anthropic, and others, revenue per watt, any new deals, and Cursor’s early contribution.
Starlink/Connectivity Metrics and Mobile Expansion
Connectivity remains a main profit engine for SpaceX. Subscriber additions will be something to pay attention to, as Q2 ended at 12 million and previews are looking at 14 million for this quarter. Additionally, ARPU trends, enterprise and government growth, and any commentary on Starlink Mobile will be something to pay attention to, especially following the recent low-band spectrum deal and FCC-related constellation approvals.
Capex Trajectory, Cash Burn/FCF, and Starship/Operational Updates
Q2 capex of roughly $18.4 billion weighed on the stock. Investors will look to scrutinize Q3 spending levels, any guidance on the pace into Q4/2027, free cash flow, backlog, and liquidity. Operational color on Starship (Flight 14 milestones and Flight 15 timing/reusability progress), Falcon cadence, and government/NASA contracts are also in focus.
Of course, there will also be some speculation on the potential Tesla-SpaceX merger, but there was nothing mentioned in the company’s proxy it sent earlier this week.
SpaceX will report earnings after market close today and will stream the call on X.
Watch live as SpaceX discusses our Q3 2026 earnings at 3:30pm CT today → https://t.co/Qrb0qeVG15
— SpaceX (@SpaceX) October 20, 2026
News
SpaceX just launched its secret Starfall saucer again
SpaceX launched its Starfall capsule again on Bandwagon-5, this time listed openly beside rideshare customers.
SpaceX launched its Starfall reentry capsule for the second time on Tuesday morning, flying it as the payload of the Bandwagon-5 rideshare mission. Falcon 9 lifted off from Space Launch Complex 40 in Florida at 7:04 a.m. ET with 32 payloads, and the first stage booster, on its 19th flight, landed on the droneship A Shortfall of Gravitas about nine minutes later.
Starfall was scheduled to separate last, 2 hours and 48 minutes after liftoff. The final customer satellite on SpaceX’s mission timeline comes off the upper stage about an hour and nine minutes in, which left a long gap before the capsule was due to be released alone. SpaceX later posted that the payload deployment sequence is complete. At liftoff, the company said Starfall “enables affordable, routine access to a microgravity environment, providing unique opportunities for on-orbit manufacturing, scientific research, and testing.”
Starfall enables affordable, routine access to a microgravity environment, providing unique opportunities for on-orbit manufacturing, scientific research, and testing https://t.co/y8kJg3QDor
— SpaceX (@SpaceX) October 20, 2026
As Teslarati reported before the first Starfall flight, SpaceX made no public announcement about the vehicle then, and nearly everything known came from FAA and FCC filings. This time Starfall is an item name on the official mission page, listed beside paying rideshare customers. SpaceX has still not said what, if anything, is aboard this Starfall, Spaceflight Now noted.
The FAA’s environmental assessment from May describes a disk about 10.2 feet wide and 2.5 feet tall that weighs roughly 4,600 pounds and can bring 2,200 pounds of payload back to Earth.
Interestingly, the same rocket also carries a competitor’s hardware. Varda Space Industries launched its W-Series 7 capsule on Bandwagon-5, a spacecraft about three times smaller than Starfall that will test whether microgravity can improve the solubility of a cancer drug called Protac. It is Varda’s ninth reentry capsule, and W-8 and W-9 launched earlier this month on Transporter-18. SpaceX has been Varda’s launch provider since the company’s first Falcon 9 rideshare contract in 2021.
SpaceX has not published where or how this Starfall will come down. The preview we ran in June described a recovery from the Pacific Ocean, and the company has not said whether this flight follows the same plan. The launch also arrives hours before SpaceX posts its third quarter results after the market closes, a report we previewed earlier this week.
Elon Musk
The Boring Company’s latest Tesla tunnel truck mod “fits like a glove”
The Boring Company has modified a Tesla powered tunnel truck to carry freight containers underground.
The Boring Company has found a second job for the Tesla hardware it already runs underground. In a post on X, Elon Musk’s tunneling company showed its latest Prufrock Liner Truck modified to carry a standard 20 foot shipping container. “Using TBC tunnels to transport freight,” the company wrote. “The latest Prufrock Liner Truck (using Tesla Model 3 batteries and drive units) has been modified to carry a standard 20′ shipping container. Fits like a glove!”
The photo shows a red container sitting on a long, low white chassis parked outside, with drive hardware visible at one end. The Boring Company did not say where or when freight hauling would start, which customers it has in mind, or how many trucks it is converting.
Using TBC tunnels to transport freight.
The latest Prufrock Liner Truck (using Tesla Model 3 batteries and drive units) has been modified to carry a standard 20’ shipping container.
Fits like a glove! https://t.co/VV0phWK4fc
— The Boring Company (@boringcompany) October 19, 2026
Until now, the liner trucks have hauled concrete. Teslarati reported in August on Liner Truck 3, which uses Model 3 battery packs and drive units to move more than 22,000 pounds of precast tunnel segments to the boring machine. It has 28 miles of range, tops out at 12 mph, and is piloted remotely from the company’s operations center in Texas. The freight version appears to be the same platform with a different bed, and The Boring Company has not said whether it will also be remotely piloted.
Freight has been on the company’s menu for years. When TBC updated its product lineup in 2021, its freight tunnel was described as sized to fit a standard shipping container, “barely.” The company later used the idea at Tesla’s own factory, where Prufrock 3 dug a tunnel to Giga Texas that now moves finished Cybertrucks away from the production line.
The Boring Company closed a $3 billion Series D in September at a $23 billion valuation, and Teslarati has covered how that money is tied to a UAE tunneling push and a faster Nashville build. In Nashville, Prufrock MB1 and MB2 are mining at the same time, and a third machine is expected to launch in late October. Each machine needs a steady supply of liner trucks, so any design that works for segments and containers alike gives the company more use out of the same Tesla parts.
The Vegas Loop remains the only Boring Company system open to the public, and it moves passengers in Tesla vehicles. A freight service would be a separate product, and the post gave no indication that one is close to launch. For now, it is a truck, a container and a short caption saying they fit together.
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SpaceX just launched its secret Starfall saucer again
The Boring Company’s latest Tesla tunnel truck mod “fits like a glove”
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