SpaceX
SpaceX fairing catcher Mr. Steven heads for Panama Canal after one last drop test
Iconic fairing recovery vessel Mr. Steven appears to have quietly departed for SpaceX’s Florida launch facilities a few days after completing (successfully or not) one final controlled fairing catch test in the Pacific Ocean.
While bittersweet for those that have closely followed the vessel’s development and many attempted Falcon fairing recoveries, this move should ultimately give Mr. Steven around three times as many opportunities to attempt fairing recoveries thanks to SpaceX’s significantly higher East Coast launch cadence.
Mr Steven docking last night after another helicopter drop test, fairing half aboard. #spacex @Teslarati pic.twitter.com/1uMm8ktzWY
— Pauline Acalin (@w00ki33) January 26, 2019
Under SpaceX lease since late 2017, the company moved the vessel to California and modified it with its first net and set of arms around December 2017. Mr. Steven attempted his first Falcon fairing catch – each half worth more than $3M – in February 2018 after the launch of Earth imaging satellite PAZ and two SpaceX Starlink prototypes, thus beginning a string of five unsuccessful recovery attempts for West Coast Falcon 9 launches. The lack of success has most certainly not been for a lack of trying, exemplified in large part by Mr. Steven’s frequent net and arm upgrades over the last year, culminating in the installation of four massive arms, a vast primary net, and a smaller secondary net below it.
Recent fairing recovery test with Mr. Steven. So close! pic.twitter.com/DFSCfBnM0Y
— SpaceX (@SpaceX) January 8, 2019
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SpaceX engineers and technicians repeatedly managed to get Falcon fairing halves – autonomously guided by GPS after deploying parafoils – within 50 to a few hundred feet during several of those five post-launch attempts. In the last few months of 2018, SpaceX also began a program of controlled fairing drop tests, where a helicopter would lift a fairing half 5,000-10,000 feet up before releasing it for Mr. Steven. A recent drop test organized in either late-December or early-January saw the parasailing fairing half get so close to a successful catch that its parafoil rigging actually appeared to get tangled on (or at least bump) the edge of Mr. Steven’s net, spanning an area of around 3000 square meters (~30,000 sq ft).
Barring a continuation of SpaceX’s helicopter drop test program on the East Coast, Mr. Steven’s final controlled fairing recovery attempt occurred on January 25th, perhaps less than four days before the ship departed for Florida. After maneuvering wildly and reaching 28 mph (45 km/h) – the fastest speed yet clocked – on his trip back to port, Mr. Steven arrived with a fairing half tantalizingly cradled in the ship’s new secondary net, a perfectly ambiguous state that could indicate a successful catch and net transfer or a missed catch and ocean retrieval, with the smaller net used as an ad-hoc shock absorber during his sprint to port.
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- The apparent fairing-grabbing mechanism or robot spotted aboard the SpaceX-leased vessel Mr. Steven. (Reddit /u/ vshie)
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- Not nearly enough net, as it turned out. (Pauline Acalin, May 2018)
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- Mr Steven testing his new net in a series of sea trials, July 11
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- Mr. Steven returned to Port of San Pedro around on October 8th after a day spent at sea, apparently with a Falcon fairing half in tow. This is the second known time that a fairing has been in Mr. Steven’s net. The fairing was eventually lifted off around noon the following day. (Pauline Acalin)
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- Mr. Steven was captured performing tests with a duo of fairings and nets at its Port of LA berth, January 22nd. (Pauline Acalin)
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- Prior to his Panama Canal exit, Mr. Steven barely missed 2-3 successful Falcon fairing catches during several controlled drop tests. (SpaceX)
Back to Port Canaveral
Prior to Mr. Steven’s California station and arm/net upgrade, the vessel was introduced to SpaceX in Florida as a sort of faster version of the slower service vessels already used to support drone ship deployments and recover fairing halves (or shards) out of the ocean. Although it remains entirely possible that Mr. Steven’s abrupt journey towards southern Mexico is a false alarm, it appears quite likely that the vessel will ultimately end up back where it started its SpaceX journey. After returning to Port Canaveral, Mr. Steven should be able to support a range of post-launch fairing recovery attempts thanks to SpaceX’s consistently-busy East Coast launch schedule.
At his current cruising speed of ~18 knots (21 mph/35 km/h), Mr. Steven will take at least 9-10 days (~220-240 hours) to travel the ~7500 km (4600 mi) of ocean separating Port of LA and Port Canaveral. Even assuming many lengthy stops for fuel and supplies, the vessel should easily arrive in time to attempt its first East Coast fairing catch in support of SpaceX’s next launch, NET February 18th. After that, Crew Dragon’s inaugural orbital launch (DM-1) is targeted for late February, followed by Cargo Dragon’s 17th operational mission (NET March 16th) and the second-ever launch of Falcon Heavy, absolutely no earlier than March 7th.
Mr. Steven appears to have quietly departed Port of Los Angeles for Manzanillo, a port on the southwest coast of Mexico. This is likely Leg #1 of a voyage to Port Canaveral, where he can support #SpaceX's more frequent Florida launches. He'll be missed on the West Coast 🙁 pic.twitter.com/Jb5cOA2Cda
— Eric Ralph (@13ericralph31) January 29, 2019
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SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
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Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
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Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
Elon Musk’s space exploration company, SpaceX (NASDAQ: SPCX), is set to report its earnings for the second quarter today in what will be its first-ever earnings call since going public in July.
SpaceX is trading down roughly 25 percent from its IPO. These early stock signals are usually a bit tumultuous, and considering this is the first company actively launching rockets that is available on the stock exchange, investors might have a tendency to be a bit skittish.
However, there are going to be some details that investors will hear for the first time today on the earnings call. Here’s what to look for:
Wall Street Expectations
Revenue is expected to fall somewhere around $6.8 billion, and will be heavily driven by Starlink, which is SpaceX’s widely popular satellite internet platform that has been adopted by numerous airlines, cruise ships, and other maritime operations. It is also available for consumers at home or in their cars.
Earnings Per Share (EPS) expectations fall at a net loss of $0.23 per share. Wall Street sees this as a total net loss of roughly $1.9 billion.
EBITDA is expected to come in between $2 billion and $2.1 billion.
What Investors Want to Know
Tesla uses the Say platform to help work with both retail and institutional investors to answer relevant and quality questions that address concerns or questions that they might have.
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However, SpaceX is doing things differently, as the company launched its own Investor Relations website where these questions are being fielded. Just like the Tesla questions, they seem to be less focused on the operational tasks and overall progress of the company, and more novelty.
Here are the top five:
- Has the team thought about what possibilities there are with your mascot Asteroid? Whether it’s starting additional foundations for kids in its name, helping kids learn about space, etc. Kids are our future, and Asteroid would be a fun and easy way to help.
- Baby Asteroid is already making a difference through charity around the world. Could SpaceX take it even further with programs that inspire kids to explore space?
- SpaceX has some legendary vehicle names. Would you ever allow the public to name a Starship, even knowing there is a 99% chance it becomes Shipy McShipface?
- When can we expect to see more footage of the Human Landing System?
- Will Asteroid (your mascot) go to Mars?
SpaceX will report its earnings today, August 4, at 4:30 P.M. EDT.
SpaceX reports beat in first earnings while minimizing losses
Elon Musk sends second warning to SpaceX shorts ahead of first earnings
