SpaceX CFO Says First Paying Starship Flight Is Weeks Away, Reiterates $100B ARR Milestone By Year-End

• SpaceX CFO Bret Johnsen told investors at Goldman Sachs’ Communacopia + Technology Conference that a recent hosting deal gives the company even more conviction in a $100 billion Annual Recurring Revenue target by year-end.
• Johnsen suggested orbital systems could match the cost of ground data centers as soon as next year.
• Further out, SpaceX will fly next-generation satellites in 2027 and turn on a full 5G-quality direct-to-phone service in the first half of 2028.

Starship’s flight 14, planned for later this month, will be the launch vehicle’s first revenue-generating mission, carrying production Starlink satellites into orbit, SpaceX CFO Bret Johnsen told investors at Goldman Sachs’ Communacopia + Technology Conference.

The launch will mark the vehicle's shift from test flights to commercial operations after years of development efforts worth billions. Flight 13, the previous test flight, had already delivered demonstration satellites, relit an engine in space, and achieved a precise splashdown of the upper stage. Johnsen said the information from the test flights so far will inform the company’s efforts to reuse both stages of the two-stage vehicle in the future, lowering launch costs. Management has said previously that Starship is meant to cut the cost of putting mass into orbit by 99 percent or more versus historical averages.

Starship Costs

The commercial step follows a costly development year. In its latest quarterly report, for the period ended June 30, SpaceX’s Space segment posted a $542 million operating loss on $962 million of revenue. Research and development in the segment rose to $1.08 billion in the quarter, up 55% from a year earlier, as the company poured money into Starship hardware, engines, and test flights. For the first half of 2026, the Space segment lost $1.2 billion from operations.

CFO Backs $100B ARR Goal

Cheaper access to space underpins SpaceX’s AI plans. The company intends to fly its first orbital compute satellites in 2027 and put large amounts of computing capacity into space in 2028, using a modified version of the same satellite design already flying for Starlink.

Johnsen suggested orbital systems could match the cost of ground data centers as soon as next year. On the ground, SpaceX expects to finish 2026 with a little more than 2 gigawatts of compute and stand up 5 to 10 gigawatts in 2027. A newly closed hosting deal with an unnamed customer will add about $13 billion in annual recurring revenue starting December 1. Johnsen said that deal gives the company even more conviction in a $100 billion Annual Recurring Revenue target by year-end.

Connectivity Comes Next

Starlink has moved beyond its early “better than nothing” phase into enterprise and mobility markets, including a large aircraft backlog, Johnsen said, adding that awareness remains the main limiter outside the United States.

Further out, SpaceX will fly next-generation satellites in 2027 and turn on a full 5G-quality direct-to-phone service in the first half of 2028, using spectrum acquired from EchoStar.

How Did SPCX Retail Traders React?

On Stocktwits, retail sentiment around SPCX fell from ‘neutral’ to ‘bearish’ over the past 24 hours, while message volume remained at ‘low’ levels

SPCX stock closed Thursday at around $148, above its IPO price of $135, but below its all-time high price of around $220. 

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