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SpaceX Starship nails ‘flip’ maneuver in explosive landing video
Update: SpaceX has published a video taken near the launch pad of Starship nailing an exotic ‘flip’ maneuver shortly before a hard landing destroyed the rocket.
Both the company, test directors, and CEO Elon Musk have all made it abundantly clear that despite the explosive end, Starship SN8’s maiden flight was a spectacular success, proving that the rocket is capable of performing several previously-unproven maneuvers and surviving the associated stresses. Notably, according to tweets posted by Musk not long after, Starship SN8 performed almost perfectly, failing a soft landing (already proven by SN5 and SN6) solely because of low pressure in the rocket’s secondary ‘header’ fuel tank.
For unknown reasons, that tank or its associated plumbing were unable to maintain the pressure needed to feed Raptor with enough propellant, resulting in fuel starvation mid-burn. A lack of fuel and surplus of oxygen effectively turned the landing engine into a giant oxygen torch, melting the copper walls of its combustion chamber (hence the green plume). Had the header tank maintained the correct pressure, SN8 would have very likely landed intact (or at least had a much softer landing).
In simpler terms, it seems that Raptor isn’t to blame for Starship SN8’s failed landing and fixing a pressurization problem will be dramatically faster and easier than rectifying a rocket engine design flaw.
In perhaps the most spectacular aerospace demonstration since Falcon Heavy’s 2018 debut, SpaceX’s first full-size Starship prototype came within a hair’s breadth of sticking the landing after an otherwise successful ~12.5 km (7.8 mi) launch debut.
To quote SpaceX’s test director, heard live on the company’s official webcast moments after Starship serial number 8 (SN8) exploded on impact, “Incredible work, team!” For most, praise shortly after a rocket explosion could easily feel nonsensical, but in the context of SpaceX’s iterative approach to development, a Starship prototype failing just moments before the end of a multi-minute test can be considered a spectacular success.
Chock full of surprises, Starship SN8 ignited its three Raptor engines for the third time and lifted off at 4:45 pm CST (UTC-6) on the program’s high-altitude launch debut.
About 100 seconds after liftoff, already representing the longest-known ignition of one – let alone three – Raptor engines, one of those three engines appeared to shut down, causing the two remaining engines to gimbal wildly in an effort to retain control. Another two minutes after that, one of those Raptors also shut down, leaving one engine active. That one engine continued to burn for another minute and a half, producing just enough thrust to more or less maintain Starship SN8’s altitude at apogee while performing a bizarre horizontal slide maneuver.
Finally, at a bit less than five minutes after liftoff, Starship cut off all Raptor engines and began falling back to earth. Looking spectacularly similar to fan-made renders and CGI videos of the highly-anticipated ‘skydiver’ or ‘belly-flop’ maneuver, Starship – belly down – spent around two minutes in a rock-solid freefall, using four large flaps to maintain stability.
Around 4:52 pm, Starship SN8 performed exactly as expected, igniting one – and then two – Raptor engines while fully parallel to the ground to complete an aggressive 90-degree flip, transitioning into vertical flight for an attempted landing. Unfortunately, although it’s difficult to judge what was intentional and what was not, things began to go wrong after that point -visible in the form of one of the two reignited Raptors flashing green before shutting down.
At the same time, the plume of the lone remaining engine flashed an electric green, quite literally consuming its copper-rich internals in an unsuccessful attempt to slow Starship down. According to SpaceX CEO Elon Musk, Raptor performed “great” throughout the launch and landing attempt, with the bright-green plume likely explained by extremely oxygen-rich combustion caused by low “fuel header tank pressure.”
Regardless of the specific cause, Starship SN8 smashed into the ground around 10-20 seconds early, traveling about 30 m/s (~70 mph) too fast. To be clear, in SpaceX’s eyes, the test – primarily focused on demonstrating multi-engine ascent, freefall stability, header tank handover, engine reignition, and a flip-over maneuver – was a spectacular success, completing almost every single objective and seemingly doing so without any major issues.
Clocking in at an incredible (and unexpected) ~400 seconds (~6.5 minutes) from liftoff to explosion, it’s difficult to exaggerate the sheer quantity of invaluable data SpaceX has likely gathered from SN8’s sacrifice. Thanks to SN8’s primarily successful debut, SpaceX’s Starship test and launch facilities (minus the rocket’s remains on the landing zone) appear to be almost completely unharmed, likely requiring only minor repairs and refurbishment. Further, Starship SN9 is effectively complete and patiently waiting a few miles down the road, ready to roll to the launch pad almost as soon as SpaceX has understood the cause of SN8’s hard landing.
Stay tuned for more analysis, photos, and videos as the dust settles.
Elon Musk
Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for
Tesla and SpaceX formed special committees to weigh a merger, and Elon Musk supports it.
Elon Musk confirmed Tuesday that Tesla and SpaceX have each formed special committees of independent directors to study a possible merger, the first formal step toward combining the two companies after months of speculation.
Musk made the disclosure during SpaceX’s third quarter earnings call. “Both SpaceX and Tesla have formed special committees to discuss this idea at the request of shareholders,” he said. “Because I’m a conflicted party, I can’t actually be in the discussions of the special committees.” He described the setup as “an odd kabuki dance where two groups of people are talking and I can’t be in the conversation.”
Musk did not hide where he stands. “Do I think it would be a good idea? Yes,” he said, pointing to shared work on super intelligence software, chip design, the Terafab facility in Austin, robotics, mass to orbit and connectivity. “I do think there’s a lot of merit to combining the companies as we are pretty much in the super intelligence singularity.”
He also tried to cool expectations. The committees have not agreed on terms for any transaction, and Musk said assuming a merger is a certainty “would be overstating it.” Any deal would go to shareholders, and on the Tesla side it would need approval from 50 percent of all outstanding shares, not just the shares that are voted. Musk called that “quite a high hurdle.”
That bar has tripped Tesla up before. The company’s 2025 attempt to declassify its board won support from only 39.4 percent of outstanding shares and failed. Musk’s own voting stake sits near 20 percent after he exercised his 2018 options in June, so a deal would need broad backing from institutions and a retail base that often leaves votes uncast.
Timing is another open question. Tesla filed its proxy statement Monday for its December 3 annual meeting, and the ballot has only three items: director elections for Musk, Robyn Denholm and JB Straubel, a say on pay vote and auditor ratification. Barclays analyst Dan Levy had argued that an announcement would need to land by late October or early November to make the annual meeting, as Teslarati noted in its SpaceX earnings preview. With no terms agreed, any vote would likely require its own special meeting.
Elon Musk gives his most telling Tesla-SpaceX merger conversation yet
Musk has been edging toward this for weeks. At the All-In Summit in September, he asked “who can imagine what action one might take when there’s so much close collaboration,” Teslarati reported. Last week’s Roadster unveil, built around SpaceX derived cold gas thrusters, pushed the talk further. The two companies already share the Terafab chip project, and Tesla holds a small SpaceX stake that came from its earlier investment in xAI.
SpaceX brought strong numbers to the conversation. It reported Q3 revenue of $14.58 billion, up 161 percent year over year, with its Super Intelligence segment now its largest at $7.56 billion. A higher SpaceX valuation would shape any exchange ratio Tesla holders are offered.
Tesla reports its own third quarter results after the close on Wednesday, October 21. Investors had already ranked merger timing among the top retail questions for SpaceX’s call, and the committees will almost certainly come up again on Tesla’s.
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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