SpaceX has had a remarkable week on public markets. Since listing on Nasdaq under the ticker SPCX on June 12, 2026 at $135 per share, the stock has already climbed 55 percent — a debut that few IPOs manage even in their first month. The financial picture backing that rally is equally striking.
Analyst and Tesla/SpaceX tracker Sawyer Merritt laid out the revenue math in a post today. SpaceX recorded $18.7 billion in revenue for full-year 2025. Factor in the company's compute leasing deals — part of its growing AI infrastructure play — plus Cursor's reported $4 billion in annual recurring revenue (per media reports), and the projected annualized run rate for 2026 reaches an estimated $55 billion. That's nearly a 3x jump in a single year, if the trajectory holds.
It's worth noting that Merritt's projection blends SpaceX's core launch and Starlink business with newer revenue streams — compute leasing and Cursor's ARR — that represent a meaningful strategic expansion beyond rockets. Whether those figures consolidate cleanly into SpaceX's reported revenue remains an open question, but the directional signal is clear: SpaceX is no longer just an aerospace company by revenue profile.
For context on our broader SpaceX coverage, see all SpaceX articles here. The stock's 55 percent post-IPO move in under a week puts it among the strongest large-cap debuts in recent memory — and with a $55 billion revenue run rate potentially on the horizon, the market appears to be pricing in much more than launch contracts.
Sarah focuses on Tesla Energy, SpaceX missions, and the broader Musk AI portfolio. Former data analyst in clean energy. Based in San Francisco.
Sources verified at publish time. Spotted an inaccuracy? Email editorial@basenor.com.
