SpaceX files Form S-1 for ~$1.75T Nasdaq IPO under ticker SPCX, disclosing first detailed financials

Space Exploration Technologies Corp. (SpaceX) filed a Form S-1 registration statement with the SEC on May 20, 2026, launching one of the largest IPOs ever attempted. The prospectus indicates a planned Nasdaq listing under the ticker SPCX, with reported valuation targets ranging from about $1.75 trillion to as high as $2 trillion and a capital raise reported around $75 billion. An Amendment No. 1 to the Form S-1 (registration No. 333-296070) followed on or about June 1, 2026.

The filing provided SpaceX's first detailed public financials: for the three months ended March 31, 2026, the company reported consolidated revenue of $4.694 billion, a loss from operations of $1.943 billion, and adjusted EBITDA of $1.127 billion. Segment disclosures cited by trade analysts showed Starlink connectivity as the company's revenue and profit engine, with the launch and AI-related units less profitable or loss-making. Reported lead underwriters include Goldman Sachs, Morgan Stanley, JPMorgan, Bank of America and Citi. Coverage indicated a roadshow beginning in early June and pricing/debut targeted for mid-June, with some reports pointing to a June 11-12 pricing-and-debut window on Nasdaq.

Specific share count and final price terms were expected to be set after the roadshow. SpaceX's choice of Nasdaq was framed as aligning with the high-growth technology cohort it competes with for investor capital. Exact figures beyond the Q1 financials remained subject to amendment and market conditions.