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SpaceX points to path toward $100 billion annual recurring revenue by year-end
The company said its 2Q ARR run rate was $31.0 billion, and Deutsche Bank cited neocloud and Cursor as key drivers to more than triple the figure in about six months.
SpaceX reiterated its goal of reaching $100 billion in annual recurring revenue by year-end, with analysts pointing to specific contract ramps that could support the target, according to Yahoo Finance.
Deutsche Bank analyst Edison Yu noted that SpaceX’s 2Q ARR run rate was $31.0 billion, meaning management is aiming to more than triple it in roughly six months. In the view cited by Yahoo Finance, neocloud is the biggest contributor, including an arrangement tied to Anthropic that should ramp from 2Q levels, plus an additional Google agreement that is expected to begin ramping next month and reach a full $920.0 million per month rate starting in October.
Yu also highlighted a separate $6.7 billion over six month deal that could involve the US government, and the possibility of another large neocloud deal signed before year-end. Combining those items, Deutsche Bank projected potential ARR of $45.0 billion to $50.0 billion exiting December.
Separately, Yahoo Finance reported that 911.5 million shares of SpaceX held by employees and early investors became eligible to trade after a lockup period ended last Thursday, two days following the company’s first earnings report as a public company. The shares rose 16% late last week, climbing from an Aug. 3 intraday low of $104.83 to close at $133.11 on Aug. 7, and the stock moved above its IPO price of $135 for the first time in about a month.