SpaceX Releases IPO Roadshow Video, Targets 70% Gross Margin
Summary
- SpaceX said it released an IPO roadshow video and set targets for a 70%% gross margin and a 45%% net profit margin.
- SpaceX said AI investment accounted for the largest share of its capital expenditures over the past two years.
- Johnsen mentioned asteroid mining as a future business model, and Odaily reported that the company had not shown much interest in the field before pursuing its IPO.
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SpaceX, the rocket and satellite company led by Elon Musk, has released a video for its initial public offering roadshow.
BlockBeats and other outlets reported on June 4 that SpaceX published a roughly 17-minute IPO roadshow video that day. Chief Financial Officer Bret Johnsen appears in the video and outlines the company’s goals.
Johnsen said Musk founded SpaceX to change humanity’s destiny and make humans a multi-planetary species. He added that the company can now expand that vision through Starlink and artificial intelligence solutions.
In the roadshow video, SpaceX set a target gross margin of about 70%. Its gross margin was about 49% last year. The company also aims to raise its net profit margin to about 45% from negative 26% last year. It did not provide a specific timeline for reaching those targets.
SpaceX also addressed capital spending. Johnsen said AI investment accounted for the largest share of capital expenditures over the past two years. He added that SpaceX is not the only company making large investments in capex.
Johnsen also mentioned asteroid mining as a future business model. Odaily reported that SpaceX had not shown much interest in the field before pursuing its IPO.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
