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Research and development

Flow – sum over the period · $M

QuartersFiscal years

$MResearch and development · Q1 2023: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q2 2023: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q3 2023: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q4 2023: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q1 2024: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q2 2024: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q3 2024: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q4 2024: not reported – Quarters 2023/2024: SpaceX was private; the S-1/424B4 contain only fiscal years and Q1 2025/Q1 2026, the 10-Q only Q2 2025/2026.Research and development · Q1 2025: $1.6B · S-1 0001628280-26-036936 filed May 20, 2026Research and development · Q2 2025: $2.0B · 10-Q 0001628280-26-052535 filed Aug 4, 2026Research and development · Q3 2025: not reported – Q3/Q4 2025 appear in no SpaceX filing (no 10-Q for Q3 2025; Q4 cannot be derived because the 9-month value is missing).Research and development · Q4 2025: not reported – Q3/Q4 2025 appear in no SpaceX filing (no 10-Q for Q3 2025; Q4 cannot be derived because the 9-month value is missing).Research and development · Q1 2026: $3.5B · S-1 0001628280-26-036936 filed May 20, 2026Research and development · Q2 2026: $3.5B · 10-Q 0001628280-26-052535 filed Aug 4, 2026not reportednot reported3,5143,5481,557Q1 2023Q2 2026Q1 2026
Q1 2026
3,514$M
All values (4)
PeriodValue ($M)Status
Q2 20263,548reported
Q1 20263,514reported
Q2 20251,958reported
Q1 20251,557reported

10 periods without value hidden · Show gaps with reason · CSV with all sources · Technical ID: rnd

reported (US GAAP), not pro forma; includes xAI and X Holdings retroactively in all periods FY2023–Q2 2026 (combination under common control, per S-1/424B4). Pro forma values: metrics with suffix _pro_forma.

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Sources & calculation
Value
$3.5B
Period
Q1 2026, ended Mar 31, 2026 · quarterly value (3 months, not cumulative)
Source
S-1, filed May 20, 2026 · 0001628280-26-036936
Location
Consolidated Statements of Operations (unaudited) | row 'Research and development' | column 2026-01-01–2026-03-31
Confidence
0.9 – extracted from text/tables in 8-K Ex.99, 10-K or prospectus (S-1/424B4, not XBRL-tagged), source location stored
Basis
Basis: reported (US GAAP, as in the filing), NOT pro forma. Includes xAI and X Holdings retroactively in ALL periods (FY2023–Q2 2026), because the acquisitions (X by xAI Mar 28, 2025, xAI by SpaceX Feb 2, 2026) are transactions under common control. S-1/424B4: “Our audited consolidated financial statements and related notes have been prepared to reflect the retrospective combination of the companies for all periods presented as the acquisitions of xAI and X Holdings were accounted for as transactions between entities under common control.” pro forma values only as separate metrics *_pro_forma.

Versions

v1$3.5BMay 20, 2026S-1 0001628280-26-036936reported · confidence 0.9 · current