SpaceX
SpaceX’s Falcon Heavy eyed by Europe/Japan as ULA nails spectacular Delta Heavy launch
According to RussianSpaceWeb, SpaceX’s Falcon Heavy rocket is under serious consideration for launches of major European and Japanese payloads associated with the Lunar Orbital Platform-Gateway (formerly the Deep Space Gateway).
Currently targeting launch readiness in the mid-2020s, those heavy scientific and exploratory government payloads are eyeing Falcon Heavy at the same time as the United Launch Alliance’s (ULA) Delta IV Heavy – the most powerful operational rocket prior to FH’s debut – is busy wrapping up a scientific launch for NASA and prepping for another launch in September for its singular anchor customer, the National Reconnaissance Office (NRO).
https://twitter.com/_TomCross_/status/1028599075002896384
A breathtaking mission to the sun
United Launch Alliance (ULA) has just completed the ninth successful launch of its Delta IV Heavy rocket, originally developed by Boeing in the 1990s and debuted in 2004 before the company’s launch vehicle subsidiary joined forces with Lockheed Martin’s own rocket branch. Delta Heavy’s August 12th mission saw the rocket send a small NASA payload known as Parker Solar Probe (PSP) on a trajectory that will eventually place the craft closer to the Sun than any human-made object before it. In pursuit of a better understanding of how exactly our solar system’s namesake functions and behaves, PSP will also become the fastest object ever created by humans, traveling at an extraordinary 200 km/s (120 mi/s) at the zenith of its deepest periapses (the point at which PSP is closest to the sun).
In a fitting send-off for the small heat-shielded spacecraft, Delta IV Heavy’s launch was a spectacle to behold, with clear skies and the cover of darkness combining to magnify the best of the rocket’s telltale features. Upon ignition of its three massive RS-68 rocket engines, each producing over 700,000 lb-ft of thrust, the rocket is held down for several seconds in a process that famously culminates in what appears to be self-immolation just before liftoff, a consequence of the rocket burning off excess hydrogen fuel expelled during the ignition process. Unlike Falcon 9’s dirtier kerosene-oxygen combustion, Delta Heavy’s hydrogen and oxygen fuel produce a flame that is nearly transparent, aside from a bright orange tint created by materials in each engine’s ablative (read: designed to disintegrate) nozzle.
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- Delta IV Heavy opts for ‘medium-well’ just before launch. (Tom Cross)
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- The extraordinary might of Delta IV Heavy’s hydrolox-burning RS-68A engines, producing a combined 2.1 million pounds of thrust at liftoff. (Tom Cross)
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- Delta IV Heavy takes to the sky on its tenth launch, with Parker Solar Probe in tow. (Tom Cross)
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- Delta IV Heavy takes to the sky on its tenth launch, with Parker Solar Probe in tow. (Tom Cross)
While Delta IV Heavy has used one of its other nine successful launches for a NASA payload (a test flight of the Orion capsule), all seven remaining missions were conducted for the USAF (1) and the National Reconnaissance Office (NRO; 6), and all six remaining missions on the rocket’s manifest also happen to be for the NRO. Put simply, Delta IV Heavy would not exist today if the NRO did not have an explicit and unflappable need for the capabilities it offers. The primary downside is cost: DIVH costs at least $350 million and usually more than $400m per launch. Thankfully for ULA, the NRO has very few problems with money, and the agency’s estimated annual budget of $10 billion (2013) is more than half of NASA’s entire budget.
After Falcon Heavy’s successful debut, Delta IV Heavy’s monopoly over heavyweight NRO and USAF payloads is rapidly coming to an end, and both agencies are almost certainly attempting to equally quickly certify SpaceX’s newest rocket for critical national security space (NSS) launches. With that influx of the slightest hint of competition, Delta IV Heavy’s ~$400 million price tag starts to look rather painful in comparison to Falcon Heavy’s cost ceiling of around $150 million, potentially much less in the event that 1-3 of its boosters are recoverable. That competition likely won’t kill Delta IV Heavy, thanks entirely to the anchor support of the NRO, but it most certainly will guarantee that Delta Heavy is retired the moment ULA’s next-gen Vulcan rocket is ready to take over, likely no earlier than 2024.
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Outside of the NRO, however, there is a surprising amount of interest in Falcon Heavy for interesting (and heavy) government payloads, particularly with respect to the NASA/ESA/JAXA/Roscosmos cooperative lunar space station, known as the Lunar Orbital Platform-Gateway.
Falcon Heavy enters the mix
The first payload considering Falcon Heavy for launch services is the Japanese Space Agency’s (JAXA) HTV-X, and upgraded version of a spacecraft the country developed to assist in resupplying the International Space Station (ISS). HTV-X is primarily being designed with an ISS-resupply role still at the forefront, but Russianspaceweb recently reported that JAXA is seriously considering the development of a variant of the robotic spacecraft dedicated to resupplying the Lunar Orbital Platform-Gateway (LOPG; and I truly wish I were joking about both the name and acronym).
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- JAXA’s first-generation HTV spacecraft on its fourth of nine planned launches, 2013. (NASA)
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- JAXA’s first-generation HTV spacecraft on its fourth of nine planned launches, 2013. (NASA)
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- The best available visualization of HTV-X, Japan’s upgraded and more affordable ISS resupply spacecraft. (JAXA)
As the name suggests, LOPG is fundamentally a shrunken, upgraded copy of the present-day International Space Station but with its low Earth orbit swapped for an orbit around the Moon. Why, you might ask? It happens that that question is far less sorted at this point than “how”, and there’s a fairly strong argument to be made that NASA is simply attempting to create a low-hanging-fruit destination for the chronically delayed SLS rocket and Orion spacecraft it routinely spends ~20% of its annual budget on. The alternatives to such a crewed orbital outpost are actually landing on the Moon and building a base or dramatically ramping development of foundations needed to enable the first human missions to Mars.
ARTICLE: Cislunar station gets thumbs up, new name in President's budget request – https://t.co/a1XhAPZ7ot
– By Philip Sloss.
(Numerous renders by Nathan Koga, including the epic one below) pic.twitter.com/j0cr2ze7qG
— NSF – NASASpaceflight.com (@NASASpaceflight) March 16, 2018
Regardless of the LOPG’s existential merits, a lot of energy (and money) is currently being funneled into planning and initial hardware development for the lunar station’s various modular segments. JAXA is currently analyzing ways to resupply LOPG and its crew complement with its HTV-X cargo spacecraft, currently targeting its first annual ISS resupply mission by the end of 2021. While JAXA will use its own domestic H-III rocket to launch HTV-X to the ISS, that rocket simply is not powerful enough to place a minimum of ~10,000 kg (22,000 lb) on a trans-lunar insertion (TLI) trajectory. As such, JAXA is examining SpaceX’s Falcon Heavy as a prime (and affordable) option: by recovering both side boosters on SpaceX’s drone ships and sacrificing the rocket’s center core, a 2/3rds-reusable Falcon Heavy should be able to send as much as 20,000 kg to TLI (lunar orbit), according to comments made by CEO Elon Musk.
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- Falcon Heavy booster ice peeling away and vaporizing in the fire of the engines. (Photo: Tom Cross)
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- Falcon Heavy’s launch debut from Pad 39A, February 2018. (SpaceX)
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- Falcon Heavy’s side boosters seconds away from near-simultaneous landings at Landing Zones 1 and 2. (SpaceX)
That impressive performance would also be needed for another LOPG payload, this time for ESA’s 5-6 ton European System Providing Refueling Infrastructure and Telecommunications (ESPRIT) lunar station module. That component is unlikely to reach launch readiness before 2024, but ESA is already considering Falcon Heavy (over its own Ariane 6 rocket) in order to save some of the module’s propellant. Weighing 6 metric tons at most, Falcon Heavy could most likely launch ESPRIT while still recovering all three of its booster stages.
Regardless of the outcomes of those rather far-off launch contracts, it’s clear that some sort of market exists for Falcon Heavy and even more clear that its injection of competition into the stagnant and cornered heavy-lift launch segment is being globally welcomed with open arms.
For prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket recovery fleet check out our brand new LaunchPad and LandingZone newsletters!
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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
