News
SpaceX Falcon Heavy rocket to launch record-breaking communications satellite
A report on the latest in a long line of SpaceX launches significantly delayed by customer payload readiness has been updated to confirm that the satellite in question will launch on Falcon Heavy, not Falcon 9.
Hughes revealed that it had selected SpaceX to launch its Maxar-built Jupiter-3 geostationary communications satellite during an industry conference on March 21st, 2022. At the time, Hughes stated that the satellite was on track to launch in the fourth quarter of 2022, a refinement but also a delay from earlier plans to launch sometime in H2 2022. Just six weeks later, manufacturer Maxar reported that the completion of Jupiter 3 – like many other Maxar spacecraft – had been delayed, pushing its launch to no earlier than (NET) “early 2023.”
At the same time, Maxar revealed that Jupiter 3 – also known as Echostar 24 – was expected to weigh around 9.2 metric tons (~20,300 lb) at liftoff when that launch finally happens. That figure immediately raised some questions about which SpaceX rocket Hughes or Maxar had chosen to launch the immense satellite.
Earlier on, regulatory documents revealed that Jupiter 3 would have a dry weight of 5817 kilograms (~12,825 lb). In July 2018, SpaceX broke the record for heaviest commercial geostationary satellite launch when a Falcon 9 rocket successfully delivered Telesat’s 7076-kilogram (15,600 lb) Telstar 19V to geostationary transfer orbit (GTO). To account for the satellite’s weight and still allow for Falcon 9 booster recovery, SpaceX launched Telstar 19V to a transfer orbit with its apogee (high point) well below geostationary orbit, meaning that the satellite had to do more of the work of orbit-raising. In other words, it wasn’t inconceivable that Jupiter 3 would also be launched to a low (subsynchronous) GTO on a recoverable Falcon 9.
However, in hindsight, Jupiter 3’s 5.8-ton dry mass should have already made it clear that that was unlikely. Telstar 19V, for example, had a reported dry mass of just over 3 tons (~6700 lb), meaning that more than half its wet mass was fuel for orbit-raising and maneuvers. In more normal cases, large geostationary satellites tend to launch with an extra 50-80% of their dry mass in fuel, not ~130%. Even at the low end of large geostationary satellites, Jupiter 3 was likely to have a launch mass of well over 8 tons.
Small bit of breaking news at this session: The @HughesConnects Jupiter 3 satellite will be launched on a @SpaceX rocket. #SATShow— Seth Miller (@WandrMe) March 21, 2022
At 9.2 tons, Jupiter 3 will leapfrog the world record for the largest commercial geostationary satellite ever launched by 30%. Barring the possibility of secret military spacecraft, it will likely be the heaviest spacecraft of any kind to reach geostationary orbit 35,785 km (22,236 miles) above Earth’s surface. More importantly, Jupiter 3 may also have the heaviest dry mass of any spacecraft to reach GEO, meaning that the actual hardware it will use to fill its role as a communications hub will also be exceptionally large and powerful. Jupiter 3 will deliver a maximum bandwidth of 500 gigabits per second.
With its exceptional heft, a recoverable Falcon 9 launch may have only been able to loft Jupiter 3 around half the way to GTO from low Earth orbit (LEO). It was little surprise, then, to learn that Hughes and Maxar had actually selected SpaceX’s far more capable Falcon Heavy rocket to launch the satellite. Even with full recovery of all three Falcon Heavy first-stage boosters, there’s a good chance that the rocket would be able to launch Jupiter 3 most of or all the way to a nominal geostationary transfer orbit. If the center core is expended and the side boosters land at sea, Falcon Heavy would likely be able to launch Jupiter 3 to a highly supersynchronous GTO, meaning that the spacecraft’s apogee would end up well above GEO. For example, on Falcon Heavy’s Block 5 launch debut, the rocket sent the ~6.5-ton (~14,250 lb) Arabsat 6A communications satellite to a GTO with an apogee of almost 90,000 kilometers (~56,000 mi), shaving about 20% off of the satellite’s orbit-raising workload.
Falcon Heavy’s Jupiter 3 mission won’t beat the record for total payload to GTO in a single launch, held by Arianespace’s Ariane 5 rocket after a 2021 mission to GTO launched two communications satellites weighing 10.27t, but it will be just one ton shy.
Jupiter 3 is the 10th mission firmly scheduled to launch on SpaceX’s Falcon Heavy rocket between now and 2025.
Investor's Corner
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
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.
Investor's Corner
SpaceX reports its second earnings today: here’s what to expect
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.