Elon Musk’s SpaceX reportedly turned a profit in Q1 (Video)

well SpaceX reportedly saw surging Revenue in the first quarter allowing the company to turn a profit that's according to the Wall Street Journal the Elon Musk headed rocket company posted a first quarter profit of 55 million dollars on revenue of 1.5 billion meanwhile the report says for the full year 2022 it posted a loss of 559 million on revenue of 4.6 billion dollars so what are we thinking in terms of an IPO soon so Julie I want to get you to weigh in on this obviously the Wall Street Journal getting a peek at some of these financial documents something that we very rarely see here yeah and you know we we've gotten a little bit of a shape around how big this company is before but it I mean it's pretty astonishing the size of it as a private company and what's also astonishing to me is there doesn't seem to be any kind of imminent pathway towards a public offering in other words it doesn't really seem to need it right it's not it doesn't seem to be having trouble raising cash or bringing in um you know operating operating cash at this time so you know why change if there's a way to think about SpaceX if you know you're looking across the contracts that they're able to generate and particularly where much of the funding has come in from and kind of the capital that's been infused into their operation it's government contracts government contracts have amazingly helped out SpaceX to not only just get to and through testing and really showcase their findings to different governments who are looking to who they're looking to get jurisdiction within it's also gotten them to this nearly 150 billion dollar valuation according to reports now I believe CNBC had first learned of some of the the cash position or the financials and the valuation there but as we think about what this company could mean for a IPO Market that is waiting for companies like arm to make debuts that is waiting and has been waiting for quite some time for SpaceX to even decide whether or not it wants to make a public market debut I wouldn't hold your breath on it Elon Musk musk still does not like the thought of having companies that are publicly listed Twitter I mean Tesla is publicly listed but he has been very vocal in the past about if he could take Tesla private he would do so at pretty much a snap of a tweet if or excuse me a post if he could as he tried to previously and so all that considered it's it's still up to the air as of whether or not SpaceX is going to make that debut that all of us would love to see happen but perhaps is something that we shouldn't kind of Bank on at this point in time yeah and to your point few big players in this space but it really does seem like SpaceX is the dominant player in that sense it certainly seems like from these numbers that it is the biggest player Rochelle it's true I mean and clearly investors are playing the long game here they're willing to wait it out which is why we keep seeing these injections of cash the cash injection of two billion dollars from issuing stock that was up from 1.5 billion in 2021 so investors really undeterred I mean we have to remember at one point you know Tesla wasn't profit to believe this so certainly backing back in what appears to be the the long horse when it comes to Elon Musk and SpaceX but IPO as you mentioned there it's potentially on the cards but we have no idea when