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SpaceX Starship rolls to Texas launch pad ahead of next big test campaign
SpaceX’s first flightworthy Starship prototype has rolled to its South Texas launch pad just hours after it was welded together and is now preparing for several critical tests it must pass before it can be deemed ready for liftoff.
Fabricated and assembled with incredible speed at SpaceX’s growing Boca Chica, Texas Starship factory and test facilities, the vehicle SpaceX moved to the launch pad earlier today (Feb 25) is meant to become the first full-scale Starship prototype to take flight. Following in the footsteps of the Starship Mk1 prototype, deemed too shoddy to launch and pressurized to destruction in November 2019, the first serial build (SN01) of an improved line of Starship prototypes appears to have taken less than a month to go from first weld to the launch pad.
CEO Elon Musk took to Twitter earlier today to confirm the Starship SN01 tank section’s move to the launch pad, further noting that the tank assembly is now preparing for Raptor engine installation ahead of a static fire test. According to NASASpaceflight.com, SpaceX wants to complete that static fire and launch Starship SN01 as early as next month – a seemingly improbable target that just got much more likely with the rocket’s tank section already at the launch pad. Most importantly, however, the speed with which SpaceX has been able to assemble and prepare Starship SN01 suggests that even if things go wrong or plans change, another completed prototype could be ready to head to the pad just a few weeks from now.
On February 25th, SpaceX CEO Elon Musk posted a screenshot taken from a livestream created by SPadre earlier that day, noting that Starship will soon have engines installed in preparation for a critical static fire test.
Under the cover of an incredibly thick fog bank, Starship SN01 was lifted onto a Roll Lift transporter and carefully moved from its factory facilities to SpaceX’s Boca Chica launch pad at 4:30 am PST. Around 7:30 am PST, the giant rocket tank was lifted onto the pad’s Starship mount and technicians have been working to connect SN01 to the ground systems ever since.
Built out of stainless steel, Starship SN01’s tank section – referring to the combined liquid oxygen tank, liquid methane tank, and engine section – stands about 30m (100 ft) tall and likely weighs at least 30-45 metric tons (~70,000-100,000 lb) as it stands. While SN01 is clearly missing its pointed nose section (‘nosecone’) and flaps, among other parts, its tank section has been moved to the launch pad to perform tests that don’t involve the ship’s aerodynamic properties.
Starship Mk1 – SpaceX’s first attempt at a full-scale prototype – was fabricated and stacked piece by piece over the course of nine months before its tank section – looking almost identical to SN01 – first rolled to SpaceX’s launch pad on October 30th, 2019. Three weeks later, it was intentionally pressurized until it popped after engineers concluded that its production quality was too low for a flight test attempt to be worth the effort. On the other hand, the first of Starship SN01’s steel rings was definitively completed in the last week of January 2020, quite possibly just four weeks before the completed tank section was rolled to the same launch pad.
With that kind of speed, it’s no surprise that Musk says SpaceX will start stacking Starship SN02’s tank section this week. Intriguingly, Musk also stated that Starship SN02 would have three Raptors installed, avoiding the original question’s focus (SN01). As such, it appears that Starship SN01 may only have one Raptor installed for a static fire test and would be unlikely to ever fly if that were the case. It’s possible that after two highly successful (and explosive) pressure tests of smaller Starship test tanks that were completed last month, SpaceX still wants to perform a similar pressure test with a fully-integrated, full-scale Starship tank section to confirm that the smaller tank results carry over.
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Whether SN01 is still destined for flight, it’s safe to say that Starship SN01 tank testing could begin in a matter of days — SpaceX currently has early-morning roadblocks indicative of such testing scheduled from February 29th to March 2nd. SpaceX is likely to kick off by filling SN01 with water to check its tanks for leaks, followed by liquid nitrogen – chemically neutral but still incredibly cold. After that, SN01 would likely graduate to Raptor engine installation and a wet dress rehearsal (WDR) with liquid oxygen and methane before moving on to a static fire attempt, if all goes well.
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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.
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.
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.
Tesla’s AI lead Ashok Elluswamy doubled down on the company’s strategy regarding Full Self-Driving’s speed settings, and owners are definitely confused.
Earlier versions of Full Self-Driving allowed owners to set a max speed that the vehicle could travel while operating under the semi-autonomous driver assistance platform. This allowed more customization for the driver, giving them the ability to experience FSD’s robust performance with their own personal preferences.
Speed is massively important for obvious reasons — it’s not only a question of keeping the vehicle occupants comfortable by traveling at a safe speed, but it’s also something that could contribute to a ticket or infraction from law enforcement.
With the release of FSD v14 last year, Tesla removed the ability to set a max speed and instead opted for five Speed Profiles, ranging from “Sloth,” the most conservative, to “Mad Max,” the most aggressive and spirited. These profiles not only control speed, but also how frequently the vehicle will execute passes, perform lane changes, and other contributing factors.
The removal of the Max Speed setting was a major complaint amongst the Tesla community because it left owners scrambling for a way to experience suitable behaviors while traveling at an appropriate speed. Most felt the driving profiles would be a good indicator of the behaviors, while speed would still be left up to the discretion of the driver.
Instead, Tesla’s Speed Profiles determine both, and the constant tinkering of how they behave has been a major bottleneck and point of confusion for both owners and the company. From update to update, the Speed Profiles will change, sometimes more drastically than others. Some owners have complained that the “Standard” profile is too fast, while others have experienced “Mad Max” traveling below the speed limit:
What has happened to Mad Max?
At one point it was going 32 in a 35. Traffic ahead had pulled away considerably https://t.co/bjKvaMVTNX pic.twitter.com/aaZSWmLu5v
— TESLARATI (@Teslarati) January 24, 2026
These things change with each update, but the big complaint is that owners are on the hook for any tickets that come from FSD’s infractions; that’s the caveat of the suite being named FSD (Supervised). It ultimately means the driver is responsible, and the automaker has no liability when it comes to speeding tickets or general traffic infractions.
It is the driver’s responsibility to take over or adjust based on this.
Elluswamy essentially confirmed that there are no plans to bring back Max Speed control, because it is what he referred to as “an anti pattern.” He then echoed something that CEO Elon Musk has started to really push with FSD, and that’s the idea that Tesla is really honing in on the preferences of the driver.
Max speed control is an anti pattern.
We are working on better learning of user’s implied preferences.
— Ashok Elluswamy (@aelluswamy) August 3, 2026
Owners were confused by Tesla’s decision, stating that there must be a better way, especially considering disengagements for incorrect speeds are common:
This…. is not the way
— Kyle Conner (@itskyleconner) August 4, 2026
😭 I appreciate this mentality ! But currently the no.1 reason I disengage in Australia is incorrect speed zones.
— Ryan’s Model Y (@ryanjaycowan) August 3, 2026
This is fine but you need to start accepting liability for speeding tickets then. https://t.co/lyCgdA83gQ
— Jeremy Judkins (@jeremyjudkins_) August 4, 2026
Okay https://t.co/nOvoXQkNg1 pic.twitter.com/jGRtF2xtox
— Chad Moran (@ChadMoran) August 3, 2026
From personal experience and using FSD for over 72 percent of my driving miles since v14 was released late last year, I make Speed Profile adjustments constantly. If FSD is traveling a tad too quickly, I will scale it back, and if it’s too conservative, I’ll make it more aggressive.
I don’t complain about making the Speed Profile changes too frequently, but it would certainly be nice to have it happen less frequently. There are far too many times I am concerned about getting a ticket, even in Standard mode.
The biggest issue for me, personally, which seems to be echoed throughout the community, is the fact that Tesla’s goal is to minimize disengagements. Many drivers are stating that speed is a major reason for disengagements.
However, Tesla is not willing to bring back this one level of input because it would technically be a regression.
Whether it’s right or wrong in your opinion, it is what Tesla is going with, and it seems like it has pivoted quite a bit from its other strategies for minimizing interventions by pushing its AI to behave in a way that would fit the occupant’s personal preferences.
SpaceX reports beat in first earnings while minimizing losses
Elon Musk sends second warning to SpaceX shorts ahead of first earnings
