SpaceX CFO: New Compute Deal Puts Company Closer to $100B ARR Goal
The company is closer to achieving its audacious goal than investors might think.
Overview
Space Exploration Technologies (NASDAQ:SPCX), aka SpaceX, continues to make history. The rocket launch, satellite, and artificial intelligence (AI) company had an initial public offering (IPO) for the record books, raising $85.7 billion in its public debut, with its market cap surging past $2 trillion on its first day of trading.
So, when the company makes an assertion, investors should pay attention. When SpaceX reported its results earlier this month, the company made a stunning pronouncement. CFO Bret Johnsen said SpaceX was "expecting to reach $100 billion-plus" in annual recurring revenue (ARR) by December 2026. CEO Elon Musk went even further, saying, "To be clear, the $100 billion ARR in December is not a question mark. That's what we'd achieve if we basically did nothing."
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Originally published at www.fool.com.