News
SpaceX’s next Falcon Heavy begins to arrive at 39A as center core heads to TX
Approximately a week after a Falcon Heavy side booster – the first of two – arrived at SpaceX’s LC-39A launch complex, a sign of late-stage preparation for the massive rocket’s second and third launches, a Falcon Heavy center stage was spotted rolling through the Waco, Texas locale on its way to SpaceX’s McGregor testing facilities.
Signified by the outlines of unusual bumps under the Falcon booster’s protective shrink wrap, this probable Falcon Heavy center core’s Texas arrival indicates that SpaceX has most likely completed static fire testing of both side boosters, with the second booster now likely to depart McGregor and/or arrive at SpaceX’s Florida facilities in the coming weeks.
The first component of Falcon Heavy Block 5 has arrived at HLC-39A! https://t.co/38spGaCps9
— Thomas Burghardt (@TGMetsFan98) December 22, 2018
In February 2018, Falcon Heavy took flight for the first time ever, bringing to an end an almost mythical series of delays that pushed the rocket’s debut back more than five years. Aside from the unintentional demise of Falcon Heavy Flight 1’s center core, the inaugural launch was a spectacular and technologically valuable success, perfectly verifying the rocket’s ability to safely ignite, launch, separate, and recover two Falcon 9-class boosters simultaneously. SpaceX also took the opportunity – a payload with no practical value aside from inspiration – to perform a successful six-hour coast of the Falcon upper stage, demonstrating a capability critical for many potentially valuable launch contracts.
Now verified by planning schedules, SpaceX plans to attempt a truly impressive feat in the first half of 2019. Assuming all goes well during the center booster’s static fire and the subsequent integration and static fire of all three first stages, the company intends to launch the same Falcon Heavy hardware (all three boosters) twice in as little as two months, currently tentatively penciled in for February/March and April 2019.
Surprise sighting of a #SpaceX Falcon 9 rocket booster in my hometown headed a few minutes down the road to the McGregor, TX test site. First time in years seeing a booster in transit “in the wild” like this. 🚀 @elonmusk #falcon9 #falconheavy #STEM #bfr #space pic.twitter.com/daEz4NZPi5
— Abby Garrett (@abbygarrettart) January 1, 2019
Corroborated a few weeks ago by a NASA official involved in one of the payloads that will be present on that planned April launch, SpaceX plans to attempt recovery of both the side boosters and center core and rapidly refurbish them after their first launch in February or March, nominally placing the 6000 kg (~13,200 lb) Arabsat 6A satellite into a high-energy orbit. Perhaps as few as 4-8 weeks later, the rocket will be reintegrated, perform a second static fire at Pad 39A, and launch once again with a USAF rideshare known as Space Test Program (STP) 2, a program specifically designed to allow the Air Force to support low-risk test launches of unproven rockets.
Even more so than the fact that an ~8-week Falcon Heavy turnaround would simultaneously break SpaceX’s previous booster turnaround record in triplicate, the biggest reason to be skeptical of these plans is the fact that this schedule appears to require that the USAF fly a mission on not one but three flight-proven Falcon boosters. This stands at odds with the military branch’s unwillingness (by all appearances) to so much as allow a brand new Falcon 9 enough propellant margin (typically just a few percent) to land itself after the December 23rd launch of GPS III SV01, let alone allow their satellites to ride on a previously-flown rocket.
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- Falcon Heavy is composed of a Falcon 9 upper stage and three Falcon 9-class boosters. (SpaceX)
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- Falcon Heavy’s simultaneous side booster recovery. This will likely be repeated for both Arabsat 6A and STP-2. (SpaceX)
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- The communications satellite Arabsat-6A. (Lockheed Martin)
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- The USAF’s STP-2, a combination of a few dozen different satellites. (USAF)
The major wrench in the machine here is the fact that GPS III SV01 most likely cost the USAF upwards of $700M to procure and will ultimately become a critical part of a widespread infrastructural upgrade, whereas STP-2 features two dozen or so small satellites worth dramatically less than the single GPS satellite SpaceX launched last month. STP-2 also operates under a program that is in large part meant to offer opportunities for new or wholly unproven launch vehicles (like Falcon Heavy) to conduct experimental launches, carrying the assumption that certifying those rockets for national security space (NSS) missions would be in the best interests of the Air Force and DoD.
As such, the back-to-back Falcon Heavy launch schedule is by no means impossible despite the fact that it offers up many reasons to doubt its plausibility. Either way, the fact that the next Falcon Heavy’s center core has already left SpaceX’s Hawthorne factory – following in the footsteps of two new side boosters – is a nearly unequivocal sign that the rocket’s second launch rapidly approaching.
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!
SpaceX reported its third-quarter 2026 financial results on October 20, posting the company’s first solidly profitable quarter since going public earlier in the year under the ticker $SPCX.
Revenue reached $14.58 billion, up 161 percent year-over-year from $5.6 billion, and well ahead of consensus estimates in the $12.7 to $12.9 billion range. The results highlight a rapid shift in SpaceX’s center of gravity toward artificial intelligence/super intelligence, while Starlink and traditional space operations continue to show robust progress.
Here are the key financial results for the quarter:
- Revenue of $14.58 billion (+161% YoY)
- Adjusted EBITDA of $8.8 billion (+306% YoY)
- GAAP net income of $4.4 billion (versus a $1.1 billion net loss in the prior-year quarter)
- Adjusted EPS of approximately $0.35 (versus roughly $0.13–0.16 expected)
- Income from operations of $2.8 billion
The AI/SI segment generated $7.56 billion in revenue, an 830 percent year-over-year increase, making it the company’s largest segment for the first time. Growth was primarily driven by the activation of major cloud services agreements, the integration of Cursor (acquired earlier in 2026), and rising usage of Grok models and the newly introduced Grok Bot personal agent.
🚨 SpaceX just reported earnings! Here are some highlights:
Financial:
Revenue $14.58B (+161% YoY) vs. consensus ~$12.7–12.9B
Adjusted EBITDA $8.8B (+306% YoY)
GAAP net income $4.4B (vs. prior-year loss; first solidly profitable quarter post-IPO)
Adjusted EPS ~$0.35 vs. ~$0.13–0.16 expectedSegments:
Super Intelligence (SI, formerly AI): $7.56B (+830% YoY) — now the largest segment, driven by cloud contracts, Cursor, and Grok.
Connectivity (Starlink): $5.25B (+69% YoY).
Space: $1.77B.Other highlights:
Starlink subscribers: 13.6M (+89% YoY).
Nameplate compute: 1.7 GW.
Capex: $19.6B (majority AI infrastructure).
Cash & marketable securities: ~$90B.
First revenue-generating Starship mission (26 V3 Starlink satellites, ~10× Falcon 9 downlink capacity per launch).— TESLARATI (@Teslarati) October 20, 2026
SI adjusted EBITDA reached $5 billion, and nameplate compute capacity stood at 1.7 GW at quarter-end, up from 1.4 GW in June and 0.6 GW a year earlier. Capital expenditures totaled $19.6 billion, with the majority allocated to AI infrastructure, including continued expansion of the Colossus facilities.
The Connectivity segment, which primarily surrounds Starlink, produced $5.25 billion in revenue, a 69 percent year-over-year and 22 percent sequentially. These are pleasant results to see and expected, considering how many airlines have adopted Starlink over the past year.
Starlink consumer subscribers reached 13.6 million, an 89 percent increase from the prior year, and a sequential gain of 1.6 million. Consumer average revenue per user improved to $69. Meanwhile, Enterprise and Government revenue also grew strongly, and Starlink is now installed on more than 3,800 aircraft, making internet more accessible and better performing than previous options.
The Space segment also performed well and contributed $1.77 billion in revenue, up 6 percent year-over-year and 84 percent sequentially. A major milestone was the successful first revenue-generating Starship mission (Flight 14), which deployed 26 V3 Starlink satellites. Those satellites added roughly 10 times the downlink capacity of a typical Falcon 9 Starlink launch.
SpaceX completed 12 customer launches during the quarter, including NASA’s Nancy Grace Roman Space Telescope mission, and continued to grow its backlog of crewed, national security, and commercial flights.
CFO commentary noted that the combination of launch leadership, recurring Starlink revenue, and rapid SI expansion is producing meaningful operating leverage.
The company ended the quarter with roughly $90 billion in cash and marketable securities, providing substantial resources for ongoing investment while targeting an investment-grade balance sheet. Sequential revenue nearly doubled from the $7.81 billion reported in the second quarter, illustrating the pace of the AI-driven acceleration. Things are looking strong for SpaceX.
What’s incredibly striking is the fact that SI has grown to be larger than the rest of the company in such a short amount of time. CEO Elon Musk said on the earnings call that Grok Bot is the “fastest-growing product I’ve ever seen,” so it seems that it could be a true keystone of SpaceXSI over the next few years.
SpaceX (NASDAQ: SPCX) will report its second 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
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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.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
SpaceX reports its second earnings today: here’s what to expect
SpaceX just launched its secret Starfall saucer again
SpaceX reveals how its 1 Million AI satellite network will work and prevent space collisions
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