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bell-cot · 2 years ago
From Reuters...

> In 2022, revenue doubled to $4.6 billion, helping the company reduce its loss last year to $559 million from $968 million, the WSJ reported.

> The company reported about $5.2 billion in total expenses for 2022, up from $3.3 billion the year earlier, according to the report.

That $5.2B of expenses got 61 successful, production Falcon rocket launches in 2022. Vs. some pretty-reasonable estimates put the total cost of NASA's "Space Launch System" at ~$5B per individual launch.

reso · 2 years ago
You can't compare falcon to SLS because Falcon cannot do what SLS does.

You can't compare SpaceX's figures to NASA because NASA has many, many more reporting obligations than SpaceX.

Every report on Falcon 9 costs has made this mistake forever. SpaceX does not release their full costs. What numbers we have for them are PR releases. Meanwhile, NASA's budgets are public and comprehensive, and they have legal parameters on what they have to include in their statements about costs that SpaceX does not have.

resolutebat · 2 years ago
At time of writing, it's the opposite: Falcon is launching humans into space on a regular basis, something SLS has entirely failed to do to date.
HumanReadable · 2 years ago
Of course the Falcon can be compared to the SLS. Both are vehicles designed to take things into space for crying out loud!

The figures are easy to compare as well. Just include these factors in your comparison! Even if we don't know exactly what those factors are, we can make a ballpark estimate the total difference and add that as a percentage to spaceX's final figure.

The idea that things can't be compared because they are different is nonsense. When things are different is the only time comparisons are meaningful to make!

nordsieck · 2 years ago
> Every report on Falcon 9 costs has made this mistake forever. SpaceX does not release their full costs.

Not really relevant.

The correct metric to make the comparison on is the fully amortized cost to the government per launch. The government doesn't pay for SpaceX's facilities or development - all of those costs are rolled into the launch price. But that's not true of SLS.

jonas21 · 2 years ago
The article isn't based on information SpaceX released. The WSJ got their hands on internal financial documents.
moffkalast · 2 years ago
61 launches is quite a lot. The SLS can do about 100 tons to LEO, a standard F9 can do 22 tons albeit with a much smaller fairing.

So in total if you split your vehicle up and assemble it in orbit you can launch one that's almost 5x the size for the same price. Maybe more like 3x + extra engineering overhead costs for the orbital assembly, but still much more bang for the buck. The lunar gateway is planned to be a station anyway so those costs will have to be paid regardless.

dabluecaboose · 2 years ago
>Falcon cannot do what SLS does.

Thus far, SLS has only done once what Falcon does on the regular: Launch a payload into orbit

cameldrv · 2 years ago
You can easily compare what SpaceX charges for a launch. Wikipedia says Falcon Heavy expendible is 63 tons to LEO and $155M. SLS is supposedly 95 tons to LEO and 2 Billion.

Dead Comment

jve · 2 years ago
Part of those expenses are probably building starlink and starship r&d. I suspect F9 no longer has significant r&d expenses.

I wonder if your NASA figure also includes first launch, that may include r&d?! Because for a single launch, when you substract r&d or even spread out across all planned launches - can't be that high...

I'm just for comparing apples to apples not apples to oranges.

jjoonathan · 2 years ago
I overheard some high-temperature semiconductor guys ("how do you build chips that work on venus / in engine blades / etc") at a NASA facility talking about budgets in a way that suggested a substantial part of their funding came from the launch vehicle budget.

I don't have good intuition for how much of the bloat comes from a top-heavy organization, from grifting contractors, and from good old fashion boondoggles -- but I'd like to add to this pile of possibilities the possibility the categories are poorly drawn and that "things which NASA should be doing but shouldn't be classified under launch vehicles" are nevertheless classified under launch vehicles.

bell-cot · 2 years ago
Brief, if almost 4-year-old article:

https://arstechnica.com/science/2019/11/nasa-does-not-deny-t...

The ~$5B figure is in the final para. And that still sounds like it excludes ground systems and Orion development costs. (Plus ~4 more years of ever-growing bloat, obviously.)

nordsieck · 2 years ago
> some pretty-reasonable estimates put the total cost of NASA's "Space Launch System" at ~$5B per individual launch.

SLS is bad, but it's not quite that bad.

A full launch of SLS + Orion is ~4.1B. A launch of SLS without Orion (a theoretical cargo mission) is "just" ~$2.8B.

cypress66 · 2 years ago
Falcon isn't really comparable to the SLS, but yes the SLS is awful cost wise. Starship will almost surely be between one and two orders of magnitude cheaper per launch vs SLS.
mrguyorama · 2 years ago
And NASA will probably be very happy to use such a cheap system once they are convinced it meets their reliability standards. The point of SLS IMO is to keep a backup option if SpaceX has some horrific, unpredicted setback or design problem.

Surely people understand redundancy in aerospace right?

pfdietz · 2 years ago
A rational return to the moon program that had to choose between Falcon and SLS would choose Falcon.
bell-cot · 2 years ago
FWIW, here's a fairly deep (and charitable) article on the SLS by Eric Berger -

https://arstechnica.com/science/2022/08/the-sls-rocket-is-th...

HWR_14 · 2 years ago
That ~$5billion per launch includes a lot of amortized R&D and other costs that you are not counting in the 61 successful Falcon launches. It may be that the Falcon launchers are significantly cheaper, but the accounting methods are too different to just compare numbers.
Veedrac · 2 years ago
No, it's the other way around.

SpaceX's yearly spending would include the 61 flights, but also literally thousands of satellites, presumably a huge number of commercial dishes, their human flight overheads, their Starship development program including ground support and production and testing of about a hundred Raptor engines, their sales and outreach, their specific contract work like HLS, and their mug business by the side.

If you were to amortize SLS's total dev costs (incl. Orion and SLS-specific ground support but excluding Constellation) over its reasonably expected lifetime flights, you'll be lucky as heck to get <$10B/flight, though of course we don't know how that adds up and so report the much smaller marginal numbers instead.

alemanek · 2 years ago
Your right that figure isn’t accounting for the $23.8 billion cost of the program so far. That $5billion per launch figure is based on an optimistic number of SLS launches which haven’t happened yet.

SLS and Orion are dead ends. I wish them well and I am huge space geek but that program is just a gigantic waste. I wish we could take that budget and use it for unmanned missions or public/private space station partnerships with some of the new space companies.

oblio · 2 years ago
It's ridiculous what amounts of money these ventures can siphon away in the US. See Uber, AirBNB, etc. I'm not saying they don't pay off, but these businesses literally choke most international competition.

There are probably 1-2 countries in the world that can afford to keep running a business with losses at around $1bn per year.

pixl97 · 2 years ago
$1b loss in the space industry is probably the smallest loss for any business in said industry in history. Every launch of the space shuttle was a few billion used up. There has been no completion here, because before SpaceX everyone else was launching 100M-1B+ of rocket that was never reused and other than the payload was a write off. It is always financed by government because there is typically a much larger generalized payoff for the nation state involved regarding capabilities.
fnordpiglet · 2 years ago
I think many governments with state industry routinely run massive deficits in those state industries, and as an extension, state funded industries. Space is such an industry.
sidewndr46 · 2 years ago
The SLS is designed to reach political goals, not financial targets.
bell-cot · 2 years ago
Yep. Nicknamed the "Senate Launch System" for very good reason.
Fordec · 2 years ago
In other news it cost me $1500 to do a year of grocery shopping trips while it cost $1500 for one transatlantic return trip holiday.

Apples to oranges comparison. 400km to low earth orbit is not compatible to a 384400km trip to another gravity well.

avhon1 · 2 years ago
Distance is almost completely irrelevant for comparing launch vehicles.

Also, Falcon 9 has delivered multiple payloads to lunar orbit. Examples are ispace's Hakuto-R Mission 1, SpaceIL's Beresheet, and South Korea's Danuri. In interplanetary space, the Double Asteroid Redirection Test was launched on a Falcon 9.

bryanlarsen · 2 years ago
It takes 9400 km/s of delta-v to get to LEO, but only 3260 km/s of delta-v to get from LEO to Lunar Intercept Orbit.
Leary · 2 years ago
Its revenue will almost double again this year (2023) by looking at the number of launches[1]. Definitely the most exciting company Elon has (personal opinion)

[1] https://www.spacexstats.xyz/#launchhistory-per-year

losteric · 2 years ago
Gwynne Shotwell deserves all the thanks, she's brilliant
tomp · 2 years ago
I mean, not all the credit.

She might be brilliant, but she's worked other space jobs before. So clearly whatever company Musk has created, has allowed her to actually showcase her brilliance.

CEO sets the vision. Without vision, even perfect execution is pointless.

pavon · 2 years ago
Many of those planned commercial launches will likely slip into 2024. It is common for space companies to not bother updating deadlines that they obviously are not going to meet until they get past some high-risk milestone and are in a better position to give a more realistic deadline.
panick21_ · 2 years ago
There are also launches moveing forward or show up out of knowwhere.
why_at · 2 years ago
Interesting site, but it's not clear to me what they count as a failed launch. My guess is some of the Starship tests since I don't think there has been a failed Falcon 9 launch is a few years.

Also, unrelated: This site is the worst case of hijacking the browser back button I've ever seen

shaklee3 · 2 years ago
Revenue doesn't double by launching more of their own payloads
tuatoru · 2 years ago
If it doubles Starlink customers and gets more high-value customers, perhaps it does.
more_corn · 2 years ago
I mean twit-er-x is exciting, just in a more train wreck sort of way.
bilekas · 2 years ago
Yeah.. it's a strange guilty pleasure to see all the changes i view as stupid, to perform as badly in the real world.
oblio · 2 years ago
I think we should nickname it (e)x-Twitter.
entropicgravity · 2 years ago
Don't worry about SpaceX, it's now an essential part of the US military. Without SpaceX's satellite internet the war in Ukraine would have been much hard to deal with. SpaceX's capacity to launch rockets two or three times a week is something the US military is war gaming around, never mind the same thing but soon with the Starship. SpaceX is in good hands just as its increasing enterprise value shows.
NovaDudely · 2 years ago
Bingo! Now that they are a key part of the industrial complex, good money can be thrown at bad and it will all still work out.

Not saying that is what they are doing but they are now in a key position that big mistakes are not necessarily fatal to the company.

pavon · 2 years ago
Those numbers are pretty remarkable given how much money they are pouring into developing Starship and expanding Starlink right now. Over half of their launches have been for Starlink, and yet they are close to turning a profit on revenue from the other half and Starlink subscriptions.
pixl97 · 2 years ago
When it comes to launching other payloads, there is very little competition out there. Falcon 9 has proven itself itself very reliable and first stage reusability has put them in the place where they can always be under the competitors costs (but not too much under).

Deleted Comment

leto_ii · 2 years ago
Did wsj wisen up to our archive.today trick?
az226 · 2 years ago
SandraBucky · 2 years ago
thanks
pavon · 2 years ago
Here is a shorter Reuters article on the subject for those without a WSJ subscription: https://www.reuters.com/business/elon-musks-spacex-turns-pro...
enjoytheview · 2 years ago
I'm using an extension called "Bypass Paywalls Clean", haven't updated it in a very longe while and it still works, looks like the current versions is here: https://github.com/iamadamdev/bypass-paywalls-chrome
skyyler · 2 years ago
Guess I won't be reading their articles anymore.
josefresco · 2 years ago
Yandex has it (link in my other comment)
seatac76 · 2 years ago
Yeah they did hasn’t been working today.
reso · 2 years ago
Isn't most of this Starlink, which is basically SpaceX self-dealing? Can someone point me to a breakdown of launches and customers?
wmf · 2 years ago
I don't think they can book Starlink launches as revenue. Of course Starlink has >$1B of legitimate subscriber revenue.

https://en.wikipedia.org/wiki/List_of_Falcon_9_and_Falcon_He...

reso · 2 years ago
I suspect that SpaceX is booking Starlink launches as revenue. My basis for this is that their launch revenue is growing much faster than their non-starlink launch schedule.

We can't prove or disprove this though, since their financials are secret.

pixl97 · 2 years ago
https://spaceexplored.com/2023/08/11/spacex-launches-2023/

It appears somewhere around 60-70% of the launches are their own missions. This said nothing about costs though.

Still one company matching the rocket launches of the rest of the world is pretty impressive.

01100011 · 2 years ago
Is there a breakdown of where the money came from? How much is coming from Starlink, and how much money are they losing?
bmitc · 2 years ago
Are there reporting requirements that separate actual revenue, my term for revenue from private parties, and revenue from government grants and contracts? What is the percentage of SpaceX's "revenue" that comes from government grants and contracts?
wmf · 2 years ago
SpaceX has billions worth of government contracts but why do you ask? Remember that SpaceX is charging the government lower prices than its competitors...
bmitc · 2 years ago
I'm just asking to know.