CEO of Starlink Elon Musk, recently announced that the space-based internet service has achieved breakeven cash flow.
He added that Starlink currently constitutes the majority of all active satellites, and it is on track to launch the majority of all satellites from Earth by next year.
He wrote on X,
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“Excited to announce that @SpaceX @Starlink has achieved breakeven cash flow! Excellent work by a great team. Starlink is also now a majority of all active satellites and will have launched a majority of all satellites cumulatively from Earth by next year”.
It is however unclear if Musk’s statement is about a milestone achieved for this quarter or for a specific period of time.
Meanwhile, Starlink’s impressive cash flow might see the company soon become a publicly listed company, after Musk in February 2021, had hinted that the space-based internet service would be listed publicly once the cash flow can be predicted reasonably well. He added that such a move will give investors a window opportunity to own a promising part of his closely held SpaceX.
Notably, the President and Chief Operating Officer of SpaceX, Gwynne Shotwell, hinted that the company’s cash flow was becoming more predictable earlier this year.
Starlink’s mega-constellation currently sits at around 5,000 satellites, providing stable broadband internet access to users across the world. The space-based internet service has grown to around 2 million subscribers and spans verticals across different industries.
As of May 2022, Starlink was reported to be available in 32 countries around the globe. The space-based internet service is disclosed to be available in large portions of Europe, North America, New Zealand, and the lower half of Australia, with recent entries in Africa.
With the rapid increase in the launch of the satellite-based constellation across different zones of the world, Starlink is fast becoming a dominant player in the satellite industry.
The space-based internet service is predicted to be a game-changer in Africa, with the growing launch of the service in the region.
Also, Starlink’s rapid expansion is noteworthy, as it has not only become a major player in satellite communications but is also actively contributing to the total number of satellites launched into space. This is a testament to SpaceX’s commitment to the project and its growing significance in the satellite industry.
With Musk announcing that Starlink will have launched a majority of all satellites cumulatively from Earth by next year, it highlights that Starlink’s growth is expected to continue, and it is likely to maintain its dominant position in terms of satellite presence and launches in the near future.
Overall, Starlink’s achievement in terms of satellite numbers and its future projections highlights its transformative impact on the satellite industry and the global availability of high-speed internet access through satellite technology.