SpaceX filed documents that reveal the company’s finances ahead of a June Nasdaq debut under ticker SPCX. The filing shows the space‑launch titan is still unprofitable, with a $4.9 billion loss on $18.7 billion of revenue last year. Investors now know the risks behind the high‑profile launch for potential investors to assess the valuation uncertainty and prospects.

SpaceX plans a valuation of $1.5 trillion or more, a figure that would eclipse any other U.S. IPO. The company’s revenue streams split between satellite launches and Starlink internet services, the latter pulling in $11.4 billion last year while still operating at a loss. That dual‑business model shapes the appetite of potential shareholders for investors to evaluate.

Musk retains 85% of voting control, a concentration that could influence board decisions once the company goes public. Analysts note that the IPO could boost his personal net worth to a trillion dollars, but the lack of a disclosed share price leaves pricing strategy opaque. Market participants will watch the Nasdaq listing closely for investors.

The filing underscores that SpaceX’s growth hinges on satellite launches and broadband services, both of which operate at a loss. Investors will weigh the company’s ambitious valuation against its unprofitable track record. The June debut will test whether the market values Musk’s vision more than its current financial reality for investors to decide on investment.