A significant business milestone was achieved by Elon Musk, SpaceX, and Starlink, with the tech CEO announcing that the companies "achieved breakeven cash flow" earlier today. This centers on the Starlink subsidiary, the company's foray into satellite internet, and has been one of the most significant companies to offer this service, widespread in the world.
Starlink has been through ups and downs, with the service initially feared for not having the turnaround it expected for the massive investments it initially had.
Elon Musk Celebrates SpaceX Starlink's Breakeven
(Photo : Joe Raedle/Getty Images)
Elon Musk took it to X to celebrate a significant milestone for SpaceX's Starlink, with the subsidiary company achieving a "breakeven cash flow."
The tech CEO continues to congratulate the team behind this, being the backbone of this achievement by the company.
According to TechCrunch, it remains unknown if this breakeven cash flow is applicable for this current quarter only or for a specific period. It was also speculated that this may be a sign that SpaceX is nearing to take Starlink public via an IPO, and this was due to Musk's previous claims about taking it public once cash flow was "predictable."
Starlink is Now the Majority of All Satellites
Part of Musk's recent announcement was that Starlink is already the majority of all active satellites in the world, with the satellite internet company to soon launch a majority of all satellites cumulatively from the Earth come next year.
The massive growth of Starlink only shows the massive efforts and developments made to get it where it is, posing to be the top satellite internet service in the world.
Starlink and its Satellite Internet
It was previously reported that Starlink's satellite internet service did not achieve a previous goal that it set out for the company, targeting as many as 22 million subscribers, $12 billion in revenue, and $7 billion operating profit. However, at present, there are only 1.5 million subscribers for SpaceX's Starlink, and its subscribers are spread out in the world, all giving the company good reviews.
The company's massive satellite internet fleet is regarded to have already reached more than the number of the world's satellite numbers, and this was because of its continuous launches of new orbiters to help improve their connections. SpaceX's Falcon 9 has been a reliable workhorse for everything Starlink, with the rocket proving to be one of the top in today's age.
SpaceX and Starlink are two of the top names in the space and internet industries in the world, but it was only this month that it achieved a breakeven cash flow for its business side of things. With this milestone, the company may see more developments in the future, especially with its profitability and service for all, expected for its future expansion and growth.
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