Depreciation isn't the only thing that matters. R&D, manufacturing, maintenance, fuel, launch, support staff, and I'm sure there are countless others.

I'm not saying they aren't profitable. I don't know, but it's definitely not a given.

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inemesitaffia 4 days ago | parent [-]

They did report FCF before xai and also invested at least $1B before they merged xai

	▲	scuff3d 4 days ago \| parent [-]
		Given that it's one Musk company giving a mountain of money to another, and the only numbers floating around regarding SpaceX seem like marketing fluff, I don't think any meaningful conclusions can be reached until we get some real numbers giving a full look at the finances.