News
SpaceX preparing for third Starship ‘full stack’
SpaceX appears to be preparing Starship 20 and Super Heavy Booster 4 for their third ‘full stack’ demonstration after two seemingly successful tests in August 2021 and February 2022.
The first, completed in early August 2021, was mostly for show and saw SpaceX stack the unfinished prototypes with a giant crane – fighting the coastal winds throughout. After just a few hours stacked, Ship 20 was removed and returned to Starbase, where workers spent several more weeks (mostly) finishing the prototype. Booster 4 followed suit several weeks later and ultimately took another three months of work to reach some level of test readiness.
After Ship 20 and Booster 4 completed a series of tests in the last few months of 2021 and early 2022, the two were re-stacked in mid-February – once again for show. This time, the stacked Starship served as a backdrop for SpaceX CEO Elon Musk’s first official Starship presentation in more than two years. However, despite the fact that neither prototype was actually tested during the second stack, SpaceX did use the opportunity to partially debut Starbase’s ‘orbital launch integration tower’ and used that towers trio of giant arms to lift, stack, and stabilize Starship S20 on top of Super Heavy B4.
Ship 20 was ‘destacked’ with the tower’s arms just a few days after Musk’s event – an undeniably rapid and impressive achievement for the first real use of the ‘chopstick’ arms but still far from demonstrating that Ship 20, Booster 4, or the orbital launch site (OLS) are ready for orbital test flights. Since then, however, Starbase’s launch facilities have admittedly been almost as busy as they’ve ever been with Starship and Super Heavy cryoproof tests.
Ship 20 completed its first basic OLS cryogenic proof test or ‘cryoproof’ just two days after it was destacked. Additional Starship S20 cryoproofs followed on February 17th (the day after), February 22nd, and March 3rd. Super Heavy B4 completed its own cryoproofs on February 18th and March 1st, the latter of which may have actually been the fullest a Starship booster has ever been filled. All told, SpaceX completed no less than six major B4/S20 cryoproof tests in 15 days.
Crucially, all six cryoproofs were performed with Starbase’s nascent orbital tank farm, thoroughly testing its storage and distribution capabilities. Additionally, because SpaceX began liquid methane deliveries on February 13th, some of those tests – particularly with Ship 20 – may have even been proper wet dress rehearsals, meaning that SpaceX may have filled the rocket(s) with liquid methane (LCH4) and liquid oxygen (LOx) propellant to replicate preparations for a real launch.
At a minimum, Super Heavy Booster 4’s oxidizer tank was fully filled with liquid oxygen – and possibly pressurized with hot gaseous oxygen – during its March 1st cryoproof, while its fuel tank was filled about two-thirds of the way either with liquid nitrogen (LN2) or methane. Prior to its February and March tests, Booster 4 had already completed three cryoproofs – some also using LOx – in December 2021. Ship 20 had completed a cryoproof and four static fire tests.
All told, short of finally performing a full Super Heavy wet dress rehearsal and static fire at the orbital launch site, it’s not all that clear what more SpaceX can derive from additional individual cryoproof testing of Ship 20 or Booster 4. Several things do still need to be demonstrated, however. First, the OLS launch tower has yet to use its arms to remotely install a Super Heavy on the orbital launch mount. More importantly, SpaceX has yet to use the launch tower and its swinging ship umbilical arm to cryoproof or fuel a Starship while stacked on top of a Super Heavy. Finally, SpaceX has also yet to simultaneously perform a cryoproof or wet dress rehearsal test of a stacked Starship and Super Heavy, which will be necessary for orbital test flights.
One or several of those to-be-completed tests may be why SpaceX appears to have begun preparing to install Ship 20 on top of Booster 4 for the third time. On March 14th, Starship S20 was moved towards the launch tower and on March 15th, the ship was slotted between its ‘chopstick’ arms. Based on stack #2, the ship could be lifted at any point – day or night – and installed on top of Super Heavy in a matter of hours.
SpaceX (NASDAQ: SPCX) will report its first 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
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
The Boring Company’s latest Tesla tunnel truck mod “fits like a glove”
The Boring Company has modified a Tesla powered tunnel truck to carry freight containers underground.
The Boring Company has found a second job for the Tesla hardware it already runs underground. In a post on X, Elon Musk’s tunneling company showed its latest Prufrock Liner Truck modified to carry a standard 20 foot shipping container. “Using TBC tunnels to transport freight,” the company wrote. “The latest Prufrock Liner Truck (using Tesla Model 3 batteries and drive units) has been modified to carry a standard 20′ shipping container. Fits like a glove!”
The photo shows a red container sitting on a long, low white chassis parked outside, with drive hardware visible at one end. The Boring Company did not say where or when freight hauling would start, which customers it has in mind, or how many trucks it is converting.
Using TBC tunnels to transport freight.
The latest Prufrock Liner Truck (using Tesla Model 3 batteries and drive units) has been modified to carry a standard 20’ shipping container.
Fits like a glove! https://t.co/VV0phWK4fc
— The Boring Company (@boringcompany) October 19, 2026
Until now, the liner trucks have hauled concrete. Teslarati reported in August on Liner Truck 3, which uses Model 3 battery packs and drive units to move more than 22,000 pounds of precast tunnel segments to the boring machine. It has 28 miles of range, tops out at 12 mph, and is piloted remotely from the company’s operations center in Texas. The freight version appears to be the same platform with a different bed, and The Boring Company has not said whether it will also be remotely piloted.
Freight has been on the company’s menu for years. When TBC updated its product lineup in 2021, its freight tunnel was described as sized to fit a standard shipping container, “barely.” The company later used the idea at Tesla’s own factory, where Prufrock 3 dug a tunnel to Giga Texas that now moves finished Cybertrucks away from the production line.
The Boring Company closed a $3 billion Series D in September at a $23 billion valuation, and Teslarati has covered how that money is tied to a UAE tunneling push and a faster Nashville build. In Nashville, Prufrock MB1 and MB2 are mining at the same time, and a third machine is expected to launch in late October. Each machine needs a steady supply of liner trucks, so any design that works for segments and containers alike gives the company more use out of the same Tesla parts.
The Vegas Loop remains the only Boring Company system open to the public, and it moves passengers in Tesla vehicles. A freight service would be a separate product, and the post gave no indication that one is close to launch. For now, it is a truck, a container and a short caption saying they fit together.
SpaceX reports its first earnings today: here’s what to expect
SpaceX just launched its secret Starfall saucer again
The Boring Company’s latest Tesla tunnel truck mod “fits like a glove”
SpaceX reveals how its 1 Million AI satellite network will work and prevent space collisions
Tesla Roadster: Three configs, one can fly, 0-60 in 0.8 seconds
