Starlink-bound SpaceX’s financial statements reveal moonshot gambles with large investments
That was also the year SpaceX launched its first 60 Starlink satellites.
The company was spending plenty of cash on research and development, too — $559 million in 2018 and $661 million the following year.
The Starlink program completed a milestone in 2019, when SpaceX launched the first batch of operational Starlink satellites in May of that year.
The company ended the year with cash and cash equivalents of $868 million for 2018 and $990 million for 2019.
The company launches its Starlink satellites with its own rocket, its Falcon 9 workhorse, which means it can launch the space-based internet satellites at unprecedented rates.
