Pine & Saguaro Research
SpaceX — Investment Report
Market data as of November 11, 2026; filings through Q3 2026.
SpaceX is now a listed space, satellite-internet and AI-infrastructure company. Its reported growth is real: audited revenue rose from $10.4B (2023) to $18.7B (2025), and 9M 2026 revenue was $27.1B. The steep dashed curve rests mostly on AI compute contracts and management guidance. Neither the guidance nor the bank forecasts proves it will be reached.
Read the report
Contact
Let's build something that stands.
Questions about consulting, a golf trip, the research, or anything else here? A public contact email will be added shortly.
Contact email coming soon
A public address has not been set yet. Check back here, or reach out once an email is posted.