The cost of this launch was $66 million for three satellites at $22 million each, plus $74 million for the Falcon 9 charter fee, totaling $140 million.
To deploy 45 satellites, only 15 launches are needed, so $2.1 billion would be sufficient. With over $3.5 billion in cash on hand, additional capital raising isn't necessary.
Ultimately, around 250 satellites will be deployed, requiring roughly five times this amount in cash—so they’ll need to secure about $7 billion ($2.1 billion × 5 − $3.5 billion).
Although funding could also be secured through equity issuance or corporate bonds, commercial service can begin once 45 satellites are deployed, which should trigger explosive revenue growth.
Even under conservative consensus estimates, revenue is projected at $850 million in 2027 and $2 billion in 2028, making it seem relatively manageable to secure around $7 billion in cash.
And here’s where it gets exciting: deploying approximately 250 satellites will cost about $10.5 billion, but there won’t be many other significant expenses—meaning most of the revenue will translate into gross profit.
Even if the $10.5 billion in fixed assets is depreciated straight-line over 10 years, annual depreciation expense would only be $1.05 billion. Even with a 5-year depreciation schedule, it would amount to just $2.1 billion per year.
Of course, there are also other costs...