News
SpaceX installs second Starship Mk1 canard ahead of transport to launch pad
SpaceX has begun to install Starship Mk1’s second of two forward ‘canards’, aerodynamic flaps the rocket prototype will soon use to attempt the first radical skydiver-style landing. SpaceX technicians are likely working to fully outfit the rocket before transporting its nose section to the launch pad, where it can be mated to Starship Mk1’s lower tank and engine section.
This second canard installation follows just a few days after SpaceX technicians began installing the first fin, a process that took a fair bit longer than usual as a result of new hardware integrated with the control surfaces this time around. Discussed earlier today, those large mechanism are likely the substantial actuators Starship will need to rapidly tweak its trajectory while falling through the atmosphere.
“Barely three weeks after the rocket’s forward flaps (canards) were removed, SpaceX technicians began the reinstallation process with one major visible difference: a massive motorcycle-sized actuator. The appearance of that previously unseen actuator mechanism on the first reinstalled canard suggests that this time around, SpaceX is installing Starship’s flaps with their final purpose of controlling Starship’s free-fall in mind.”
Teslarati, 11/04/2019
With the first installation complete, SpaceX’s Boca Chica technicians will likely be able to install Starship Mk1’s second canard more quickly. Beyond attaching the prototype’s control surfaces, SpaceX has also made a significant amount of progress outfitting Starship Mk1’s nose section with other hardware, notably fitting the nose’s exterior fuel lines with what is likely insulation.
That same black and silver insulation has been visible on SpaceX’s Starship Mk2 prototype in Cocoa, Florida, where technicians appear to have taken a slightly different step than Texas, insulating the plumbing before installing it on the vehicle.
Together again, at last
On October 30th, SpaceX lifted Starship Mk1’s tank and engine section onto a remote-controlled transported and moved the rocket half approximately a mile to its Boca Chica, Texas launch facilities, where Starship was installed on a freshly-constructed launch mount. SpaceX’s decision to move Mk1’s halves separately came as a bit of a surprise but appears to have been driven by a need to ensure that the spacecraft’s bottom half fit properly on the launch mount’s umbilical connections. Between the mount’s hefty steel beams, the beginnings of those panels (often deemed ‘quick disconnects’) are visible at the base of the panorama below.
Also visible around the base of Starship Mk1’s shiny aft section are a number of black steel structures – six, to be precise. Those protrusions are Starship’s landing legs, one of the last significant mechanisms installed on the rocket before SpaceX transported the half to the launch site. For unknown reasons, Starship Mk1’s legs – as well as Mk2’s – are almost nothing like those SpaceX have proposed for past Starship iterations and are even more dissimilar to Falcon 9’s extensively flight-proven hardware.
Instead of Falcon 9’s triangular, spread-eagle legs or BFR’s older tripod fin setup, Starship 2019 features six peg-like legs that only deploy or retract directly up or down. As some observers have noted, some of the hardware installed in and around those steel beam-like legs resembles industrial-grade linear brakes, suggesting that the legs will be deployed from their stowed positions by releasing those brakes and letting gravity do most of the work.
Layman concerns remain about the stability of six perfectly vertical legs with a span essentially the same as Starship’s own diameter, a possible indicator that the dead-simple landing legs on Mk1 and Mk2 may be dramatically simplified for the sake of speedy development. At the same time, it’s possible that their linear brake mechanisms could simultaneously offer some sort of minor suspension or terrain compensation, but their extremely narrow span fundamentally limits their potential stability. For landing on a prepared concrete slab, however, they will likely be sufficient, although almost any lateral velocity at all could result in Starship tipping over.
For now, SpaceX has road closures scheduled on November 7th, 8th, and 12th, the former two of which are probably more focused on transporting Starship Mk1’s nose section to the pad for installation atop the tank section. At the same time, SpaceX is clearly preparing for a series of major Starship tests, including a tank proof test, a wet dress rehearsal, and a triple-Raptor static fire. Stay tuned for updates!
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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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