Being a privately-held company, SpaceX’s finances have been notoriously opaque. No doubt Elon Musk prefers it that way, because he can’t be too pleased with last month’s Wall Street Journal “expose” of their account books. The story is still behind the WSJ paywall so we’ll have to take The Motley Fool‘s word for it:
In an expose compiled from “exclusive … internal documents” — probably obtained from the “former SpaceX employees” that it interviewed — theJournal confirms that SpaceX has in fact been losing money since at least the beginning of 2015. Says the Journal, not only did SpaceX rack up losses of $260 million in 2015, but it actually incurred “an operating loss every quarter, and also negative cash flow of roughly $15 million.”
For the record, this means SpaceX was losing money nearly one year before the company removed the famous “profitable and cash-flow positive” assertion from its website.
Not too surprising, considering that their launch rate was still well below target even before losing two boosters to “rapid unscheduled disassembly.”