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SpaceX first orbital spacecraft set to smash reusability record on last launch
The first orbital spacecraft designed and built by SpaceX is set to smash a reusability record on its 20th and final International Space Station (ISS) resupply launch, hopefully ending an exceptional career with yet another noteworthy achievement.
After a rocket-related hardware issue forced a four-day delay, a flight-proven Cargo Dragon spacecraft and Falcon 9 rocket are set to lift off no earlier than (NET) 11:50 pm EST, March 6th (04:50 UTC, March 7th) on NASA’s 20th and final SpaceX Commercial Resupply Services (CRS-20) mission. Although SpaceX’s final CRS1 launch, 20th mission milestone, flight-proven Dragon, and fairly quick Falcon 9 booster turnaround are all significant and exciting in their own ways, the most noteworthy technical aspect of CRS-20 can be found in the Dragon capsule that will soon be perched atop the tip of the rocket.
Shared on March 1st alongside confirmation of a successful Falcon 9 wet dress rehearsal (WDR) and static fire at its Cape Canaveral, Florida Launch Complex 40 (LC-40) pad, SpaceX revealed that Cargo Dragon capsule C112 (C1: Dragon 1; 12: capsule #12) will be supporting CRS-20 as early as this Friday. If all goes according to plan, it will be the spacecraft’s third cargo mission to the ISS since February 2017, becoming the third orbital SpaceX vehicle to do so. Even more significantly, C112 is poised to crush Cargo Dragon’s own previous record for the shortest time between two orbital launches.

Back in June 2017, SpaceX became the first private company in history to successfully reuse an orbital-class spacecraft on its CRS-11 Cargo Dragon mission, itself the first private spacecraft in history to successfully rendezvous with the space station. Since then, all but one CRS mission has featured an orbit-proven Dragon capsule, making CRS-20 the ninth time SpaceX will attempt to launch a spacecraft into orbit for the second (or third) time.

In other words, nearly half of all of SpaceX’s NASA CRS missions have featured flight-proven spacecraft, while several have also launched with flight-proven Falcon 9 boosters. Still, while extremely impressive that SpaceX has managed to convince the risk-averse space agency to fly several dozen tons of critical hardware on flight-proven rockets and spacecraft, Cargo Dragon capsule reuse has always been a comparatively lengthy and complex process.
Back in July 2017, just a month after SpaceX’s first successful Cargo Dragon reuse, CEO Elon Musk offered some insight into the capability’s potential value.
“Musk said he expects the next Dragon reuse and all future reuses to save SpaceX nearly 50% of the cost of manufacturing an entirely new spacecraft. Musk admitted that the first refurbishment of Dragon likely ended up costing as much or more than a new vehicle, but this is to be expected for the first attempt to reuse any sort of space hardware that must survive some form of reentry heating and saltwater immersion.”
Teslarati.com — July 21st, 2017

Ultimately, SpaceX has almost certainly realized Musk’s ambition of cutting the cost of orbital space station resupply missions in half (at least). Scheduled to launch on March 6th, Cargo Dragon capsule C112 last launched in December 2018, reentering Earth’s atmosphere and splashing down on January 13th, 2019. With CRS-20, the capsule could thus crush the previous record – 19 months – by more than 25%. Measured from splashdown to the capsule’s shipment to the launch pad, SpaceX may have spent less than a year refurbishing the Cargo Dragon spacecraft, likely more than a 50% improvement over all past refurbishment operations.

CRS-20 should thus mark a climactic and fitting end to Cargo Dragon 1’s nine-year spaceflight career. While bittersweet that the spacecraft and its many siblings will likely never fly again, Musk has said that Dragon 2 (Crew Dragon) – the spacecraft intended to replace it – is dramatically easier (and thus cheaper) to reuse than Dragon 1. As such, SpaceX should have no issue continuing its trend of lowering the cost of access to space after it begins space station cargo deliveries under its CRS2 NASA contract later this year.
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Elon Musk
Tesla CEO Elon Musk reminds everyone about Roadster’s true meaning
Tesla CEO Elon Musk took to his social media platform X on Sunday to remind everyone that the Roadster’s true meaning is not about company growth or adding dollars to shareholders’ pockets. Sometimes, you just do things because you can.
Following the Roadster’s epic unveiling event last Thursday, skeptics and critics of the company or the project itself came out to say that the vehicle is a pointless project because it is not geared toward growing the company, delivering supreme margins for profitability, nor does it contribute to the big picture of Artificial/Super Intelligence.
But that’s just the thing: Roadster is not meant to be some shareholder dream; it’s meant to be a vehicle that people buy just because it is something awesome, unique, and the first of its kind.
Tesla Roadster: Three configs, one can fly, 0-60 in 0.8 seconds
Musk had to remind those who are skeptical about the Roadster’s importance to the company mission that while it is not a major contributor to Tesla’s long-term goals, it is something that is being built just because it can be:
“Optimus and Cybercab will be the vast majority of Tesla’s value. The only things that will scale to incredible size (K2 and beyond) economically are super intelligence, robots, solar power, and mass to space. And, of course, if you have the first two, the rest will follow. But Roadster is super cool, so we’re doing it anyway.”
Musk has said on many occasions that Optimus would be the project that would make up the vast majority of Tesla’s value in the coming years.
Robotics will be a major focus of Tesla over the coming years, especially as Musk believes Optimus will enable work to be optional for humans and will enable what he calls “High Universal Income.”
Optimus and Cybercab will be the vast majority of Tesla’s value.
The only things that will scale to incredible size (K2 and beyond) economically are super intelligence, robots, solar power and mass to space.
And, of course, if you have the first two, the rest will follow.
But Roadster is super cool, so we’re doing it anyway.
— Elon Musk (@elonmusk) October 18, 2026
Cybercab will be a passive income opportunity for owners, Musk and Tesla have said for a very long time, as a fleet of self-driving vehicles will operate within a ride-hailing Robotaxi service that won’t require a human driver to be present.
Tesla investors are more than enthusiastic about the company’s future projects, at least from a general consensus perspective. However, it is important to note that the Roadster is a fun and cool project that pushes the boundaries of what people thought was possible for an automobile.
What we saw last week was the first true example of a flying car, and despite the backlash about how it might not contribute to Tesla’s grand ambitions, it’s okay to have fun sometimes, too.
Investor's Corner
SpaceX’s biggest earnings test yet lands Tuesday, and Tesla shareholders should be watching
SpaceX reports earnings Tuesday as Wall Street watches AI spending, Starlink growth and Tesla merger
SpaceX reports third quarter results after the market closes Tuesday, with a webcast at 4:30 p.m. ET streamed on X, and Tesla follows a day later. Bloomberg consensus, cited by Pepperstone, calls for revenue of $12.89 billion, adjusted EBITDA of $6.62 billion and adjusted EPS near $0.15. That would be about 65% growth from the second quarter and SpaceX’s first profitable quarter since its IPO. Analysts expect roughly $6.4 billion from AI and $4.9 billion from Starlink, which is projected to reach 14.3 million consumer subscribers. Capital spending is forecast at $19.6 billion, leaving free cash flow near negative $11.6 billion.
The numbers matter because SpaceX has spent months trying to win over a skeptical market. It priced its record IPO at $135, spiked to $225.64, then sank near $105 in early August. Friday’s close of $146.03 sits about 28% below the June high. The Q2 report beat on revenue at $7.8 billion and put Starlink at 12 million subscribers, but $18.4 billion of capex hurt the stock. Since then SpaceX reached orbit on Starship Flight 14 with 26 Starlink V3 satellites, agreed to buy 800 MHz spectrum for about $8 billion as part of its Starlink Mobile push, and signed a fourth compute hosting deal in four months worth roughly $13 billion a year from December. Management is targeting more than 2 gigawatts of compute by year end and a $100 billion annualized revenue run rate. Evercore ISI, which raised its target to $275, said the quarter may be judged more on those targets than the reported figures
All of this sits under the Tesla merger question. Barclays analyst Dan Levy expects an all stock deal in which SpaceX buys Tesla at a premium, using reference values of $2.1 trillion and $1.5 trillion, and said an announcement would need to come by late October or early November to be voted on at Tesla’s December 6 annual meeting. Barclays estimates Musk would hold about 37% of the combined company and 56% of the votes. Musk said in July that combining companies cannot be discussed on an earnings call, but an investor question asking when SpaceX will merge with Tesla is sitting on SpaceX’s Q&A platform, and Teslarati has tracked how the Roadster demo revived the talk.
If a deal happens, Tuesday’s result would effectively set the price Tesla holders would receive. Their shares would convert into SpaceX stock, along with exposure to a company with a heavy investment on AI, while Tesla itself expects 2026 capex above $25 billion. A strong quarter and calmer spending would make that exchange easier to sell. Another round of heavy capex and a falling stock would make it harder.
News
SpaceX’s Gwynne Shotwell just made a quiet gesture toward Tesla
SpaceX president Gwynne Shotwell quietly followed Tesla on X, and merger watchers noticed right away.
SpaceX President and COO Gwynne Shotwell has started following Tesla’s official account on X, a small change that landed in the middle of a very loud merger conversation. Whole Mars Catalog joked about it on Sunday.
A follow is not an announcement, and neither company has said anything about a deal. What gives the moment weight is the timing. Barclays analyst Dan Levy has told clients that an agreement could come before Tesla’s annual meeting, which must be held by December 6, with SpaceX as the buyer in an all stock deal, as we reported after the Roadster unveiling. Wedbush’s Dan Ives has stuck with a 2027 timeline.
“Shit, I better start following their X account if i’m gonna be helping run the company”
— Whole Mars Catalog (@wholemars) October 18, 2026
Shotwell is the executive most worth watching if the two companies do move closer. When Musk was asked at the All In Summit why Tesla and SpaceX remain separate, Shotwell sat next to him and said SpaceX personnel had already moved into xAI to fill leadership and engineering gaps. The businesses were integrating “faster than I thought,” she said, though “not fully integrated yet.” Her responsibilities have also grown since SpaceX absorbed xAI, and she now oversees operations that include Grok and the company’s AI compute buildout.
The financial links are already there. Tesla’s $2 billion xAI investment turned into a stake of less than one percent in SpaceX, the two share the Terafab chip project in Austin, and Musk exercised his 2018 Tesla options a week after SpaceX began trading, a sequence analysts flagged as giving SpaceX public shares to use in a deal. Musk holds about 20 percent of Tesla and controls 85.1 percent of SpaceX’s voting power, according to our earlier breakdown.
The next test is close at hand. SpaceX reports its second earnings as a public company on Tuesday after the close, and Tesla follows on Wednesday. Musk told analysts in July that “we can’t talk about combining companies and that kind of thing on an earnings call,” so a direct answer is unlikely from either stage. Tesla shareholders can still submit and vote on questions through the Say portal until 4 p.m. EDT on Monday, and the merger is a recurring theme in the queue.