Space Exploration Technologies Corp (SpaceX) — Open Ledger

SpaceX's financial history, FY2024–FY2026 Q1, modeled as a public, auditable plain-text Beancount ledger. Part of the Open Ledger project on beancount.io — public companies' income statements and balance sheets, reconstructed line-by-line from their own regulatory filings and version-controlled in git.

Companion analysis: SpaceX FY2025 Earnings Analysis

Quick Start

uvx --from beancount bean-check main.bean

Zero output means the ledger is internally consistent — every income statement sums to zero, and every balance-sheet snapshot below reconciles to SpaceX's own filed totals.

What's Inside

Figures are sourced from SpaceX's Form S-1 registration statement (SEC EDGAR), filed in connection with its June 2026 IPO. The reporting entity includes X Corp and xAI following their 2025 mergers into Space Exploration Technologies Corp — hence the "AI" segment alongside "Space" (launch) and "Connectivity" (Starlink).

Methodology

• Balance sheet figures are asserted via pad/balance directives against the S-1's disclosed periods — see the source comment at the top of each period file.
• Income statement for each period is a single zero-sum transaction: Income accounts are negative (credit), Expenses positive (debit), with the arithmetic check shown in a comment directly above the transaction.
• Redeemable convertible preferred stock is modeled as its own dedicated equity account (Equity:RedeemableConvertiblePreferredStock) — mezzanine equity, sitting outside both total liabilities and total shareholders' equity, as SpaceX itself presents it pre-IPO.
• All amounts are in MUSD (millions of US dollars); 18674 MUSD means $18.674 billion.

About Open Ledger

This repository is part of a growing library of public-company ledgers published at beancount.io/ledger — plain-text, git-versioned, and fully auditable. Explore more companies, or read the analysis behind the numbers, on the beancount.io blog.