SpaceX
SpaceX’s Starship reaches new heights as Elon Musk teases Q1 2019 hop tests
In a burst of activity that should probably be expected at this point but still feels like a complete surprise, SpaceX technicians took a major step towards completing the first Starship hopper prototype by combining the last two remaining sections (aft and nose) scarcely six weeks after assembly began.
SpaceX CEO Elon Musk also took to Twitter late last week to offer additional details and post what appears to be the first official render of Starship’s hopper prototype, which is now closer than ever before to looking like the real deal thanks to the incredible drive of the company’s southernmost employees. With the massive rocket’s rough aeroshell and structure now more or less finalized, Musk’s targeted February/March hop test debut remains ambitious to the extreme but is now arguably far from impossible.
A quiet day as #SpaceX workers were having lunch and enjoying a well deserved break under the shadows of their creation. The wings/legs of the vehicle are getting an aesthetic touch up. 😍🚀 #Starshiphopper #ElonMusk #RGV pic.twitter.com/Y0zNGUNily
— Austin Barnard🚀 (@austinbarnard45) January 7, 2019
Where there was literally just a tent and some construction equipment barely eight weeks ago, SpaceX’s Boca Chica facilities now sport one of the most bizarre developments in recent aerospace history — a vast, ~30 ft (9m) diameter rocket being built en plein air out of tubes and sheets of common steel. At the current pace of work, 24 hours is often enough for wholly unexpected developments to appear, and this Starship hopper (Starhopper) is beginning to look more and more like its concept art as each day passes.
Aside from a few well-earned slow days last weekend, SpaceX technicians, engineers, and contractors have spent the last week or so shaping Starhopper into a form more reminiscent of the conceptual render (clearly hand-painted) Musk posted on Saturday. This primarily involved stacking a tall conical nose section atop a separate cylindrical body section, followed by gradually cladding both the aft section’s legs and barrel in sheets of stainless steel, presumably intended to improve both its aesthetic and aerodynamic characteristics.
Starship test vehicle under assembly will look similar to this illustration when finished. Operational Starships would obv have windows, etc. pic.twitter.com/D8AJ01mjyR
— Elon Musk (@elonmusk) January 5, 2019
SpaceX's Big Falcon Hopper/Starship Hopper at Boca Chica now has the three sections mated:#Shiny
Photo from NSF's BocaChicaGal:https://t.co/4RG5vZW4rN pic.twitter.com/Sd6W0Jepro
— NSF – NASASpaceflight.com (@NASASpaceflight) January 8, 2019
Notably, technicians have installed two out of three (?) aerodynamic shrouds at the top of each steel tube leg, bringing Starhopper’s appearance even closer to the smooth and polished aesthetic of its conceptual sibling.
Starhopper’s hopped-up hop test ETA
Musk later replied to a question related to Starhopper’s near-term schedule and stated that the nominal target for its first flight test was – almost unfathomably – four weeks away, although he admitted in the same response that that would probably translate into eight weeks due to “unforeseen issues”, placing the actual launch target sometime between February and March 2019. Just to reiterate, the site Starhopper is currently located on was quite literally empty – aside from the temporary tent – in late November 2018, barely more than six weeks ago.
Another great and beautiful day at #spacex today and progress is being made. I hope you all enjoy them, and have an amazing day.😃❤️🚀📸 pic.twitter.com/A9ukmdbgZI
— Austin Barnard🚀 (@austinbarnard45) January 5, 2019
To plan to go from a blank slate to actual integrated flight tests of a rocket – no matter how low-fidelity – that is 9m (~30 ft) in diameter, at least 40m (~130 ft) tall, could weigh as much as 500 tons (1.1M lbs), and may produce ~600 tons (~1.35M lb/f) of thrust at liftoff is extraordinarily ambitious even for SpaceX. At the end of the day, significant delays to Musk’s truly wild timeline are very likely, but it seems entirely possible at this point that Starhopper really could begin its first hop tests in the first half of 2019, kicking off a test program currently aiming for flights as high as 5 km (3.1 mi) and as long as 6 minutes.
A whole range of things will have to go perfectly right for a timeline as ambitious as this to be realized, including but not limited to successfully acceptance-testing three brand new and recently-redesigned Raptor engines, the completion of Starhopper’s unfamiliar structures, propellant tankage, plumbing, and avionics, and the completion of a rough launch and landing pad and integration facilities, if needed. Aside from those big ticket items, many dozens of other smaller but no less critical tasks will have to be completed with minimal to no unforeseen hurdles if hop tests are to begin just a few months from now.
And follow up from NSF member "bocachicagal"
Mating complete! 🙂 pic.twitter.com/LbR0PKENII
— NSF – NASASpaceflight.com (@NASASpaceflight) January 4, 2019
Regardless, SpaceX has pulled off miraculous tasks much like this in its past, and the possibility that the company’s brilliant, dedicated, and admittedly overworked employees will do so again should not be discounted.
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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.
Elon Musk
Elon Musk will give ‘every kid in America’ a SpaceX share in 2027
Elon Musk said he is planning to give “every one of his SpaceX shares to every kid in America” in 2027, stating that “this will be the first of many.”
SpaceX went public earlier this year, and its stock price has been relatively stable since leveling off shortly after its IPO. Based on its current price, it’s a gift of just over $10 billion to children across the United States.
It appears to be closely related to President Donald Trump’s bank accounts for children, which were set up earlier this year as Trump Accounts.
Just hours earlier, Anthropic had announced the establishment of its Anthropic Public Benefit Fund, “a new wholly-owned entity dedicated entirely to public benefit.” Musk responded by stating he recommended “giving the shares directly to the public,” and that he would be doing it that way.
Just a little bit later, Musk said children across the U.S. would be getting a share from him:
Next year, I will give one of my SpaceX shares to every kid in America.
This will be the first of many.
— Elon Musk (@elonmusk) October 19, 2026
There are roughly 70 million children, meaning someone under the age of 18, in the United States, according to the Federal Interagency Forum on Child and Family Statistics. Musk’s ownership of SpaceX stock shows he has around 849 million Class A shares of SpaceX stock, according to filings with the SEC.