Space Exploration Technologies Corp · NASDAQ:SPCX
Space Exploration Technologies — IPO Roadshow (June 2026)
60 slides from Space Exploration Technologies's IPO roadshow presentation, June 2026
Slide 1: Roadshow Presentation
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx Roadshow Presentation June 2026
Slide 2: Disclaimer
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx DISCLAIMER This Information Presentation (the “Presentation”) regarding Space Exploration Technologies Corp. (the “Company”) is being fu rnished to you on the terms set out below. The Company has
Slide 3: Offering Summary
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OFFERING SUMMARY ISSUER Space Exploration Technologies Corp. OFFERING SIZE 555.6M shares (100% Primary) OVER-ALLOTMENT 15% (100% Primary) OFFERING PRICE $135 per share EXCHANGE / TICKER Nasdaq; N
Slide 4: Our Mission
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR MISSION To build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars While
Slide 5: Our Integrated Platform
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR INTEGRATED PLATFORM We are the only company building the integrated hardware and software infrastructure of the future across space, connectivity, and AI. At our core, we are builders
Slide 6: N of 1 Building the Infrastructure of the Future
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx N OF 1 BUILDING THE INFRASTRUCTURE OF THE FUTURE SPACE CONNECTIVITY AI Activated in 2002 Activated in 2020 Activated in 2023 Unparalleled launch capabilities The world’s largest and most advanced
Slide 7: We Make the Extraordinary Possible
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WE MAKE THE EXTRAORDINARY POSSIBLE SPACE The FIRST private company to develop and launch a liquid fuel rocket to reach orbit (2008) The FIRST private company to successfully dock a spacecraft wit
Slide 8: Why We Win
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WHY WE WIN Global leadership in orbital launch services Unrivaled satellite and connectivity platform across design, manufacturing, deployment, and operations Truth - seeking AI model enhanced by
Slide 9: Extreme Vertical Integration
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx EXTREME VERTICAL INTEGRATION SPACE CONNECTIVITY AI Satellite Constellation, Inter -Satellite Turbine Power Plants, Substations, Laser Mesh Network, Ground Stations, Launch Pads, Landing Pads, Fac
Slide 10: The Algorithm
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx THE ALGORITHM 01 MAKE THE REQUIREMENTS LESS DUMB 02 DELETE THE PART OR PROCESS STEP 03 OPTIMIZE 04 ACCELERATE 05 AUTOMATE 10
Slide 11: Mission-Driven Culture and World-Class Talent
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx MISSION - DRIVEN CULTURE AND WORLD - CLASS TALENT Average Tenure of Top 3 Executives 21 YEARS Average Tenure of Senior Management 12 YEARS ELON MUSK GWYNNE SHOTWELL BRET JOHNSEN Percent of Engine
Slide 12: Our Repeatable Business Model
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR REPEATABLE BUSINESS MODEL SEVEN Leverage our unparalleled launch capabilities to enable massive scale SIX Identify and create new trillion-dollar market opportunities FIVE Design a solution w
Slide 13: We Already Address a Massive $6T Market
C:\Users \brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WE ALREADY ADDRESS A MASSIVE $6T MARKET $600 B $5.7 T $760 B $2.4 T $740 B $870 B $370 B Space-Enabled Starlink Starlink Mobile AI Consumer Digital Near-Term Total Solutions Broadband Infrastruc
Slide 14: AI Unlocks an Even Larger Opportunity
C:\Users \brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx AI UNLOCKS AN EVEN LARGER OPPORTUNITY SPACE: $370B CONNECTIVITY: $1.6T AI: $26.5T 14 14
Slide 15: 2026… A Momentous Year So Far
C:\Users \brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx 2026… A MOMENTOUS YEAR SO FAR Feb-26 Acquired xAI Feb-26 Starlink 10M Active Customers Surpassed 10 million active Starlink customers Announced strategic collaboration with Tesla to create the w
Slide 16: More Milestones Ahead
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx MORE MILESTONES AHEAD STARSHIP V3 BROADBAND MOBILE V2 TERRESTRIAL AI COMPUTE V3 SATELLITE SATELLITE COMPUTE SATELLITE H2 2026 H2 2026 2027 400MW+ 2028 Commence payload Begin deployment Begin depl
Slide 17: Our Space Business
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR SPACE BUSINESS We are the world’s leading launch provider, with more than 80% of mass to orbit for the world since 2023 This critical capability is our foundation and enables the rest of our
Slide 18: World's Only Fleet of Reusable Rockets
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WORLD’S ONLY FLEET OF REUSABLE ROCKETS FALCON 9 FALCON HEAVY STARSHIP V3 PAYLOAD CAPACITY TO LEO 23 Metric Tons 64 Metric Tons 100 Metric Tons TOTAL NUMBER OF FLIGHTS ~620 11 12 SUCCESS RATES 99%
Slide 19: Dragon
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx DRAGON 50+ Visits to the International Space Station Since 2012 78 Crewmembers Safely Flown Since 2020 20 Countries Represented by Passengers Since 2020 ONLY Private Company Certified by NASA to
Slide 20: The Value of Rocket Reusability
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx THE VALUE OF ROCKET REUSABILITY COST Reuse of expensive hardware ADVANTAGE TO SPACEX lowering launch costs LAUNCH CADENCE LOWER MOST Cost per launch compared to Launches of any provider Enables h
Slide 21: Starship
C:\Users \brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx STARSHIP First ever heavy-lift rocket built for full and rapid reusability STARSHIP 12 test flights to date Demonstrated successful atmospheric entry and precision landing Proven Starship booste
Slide 22: Unparalleled Market Leadership
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx UNPARALLELED MARKET LEADERSHIP MASS TO ORBIT FOR THE WORLD % SPACEX SHARE 90% 80%+ 80% 70% 65% 60% 50% 45% 40% 30% 20% 2021 2022 2023-2025 Source: BryceTech, management 22
Slide 23: Foundational Launch Advantage
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx FOUNDATIONAL LAUNCH ADVANTAGE BOOSTER REUSABILITY ENABLES INCREASING LAUNCH RATES ANNUAL NUMBER OF FALCON FAMILY LAUNCHES BY SPACEX 180 165 160 140 120 100 80 60 40 UNMATCHED LAUNCH CADENCE 20 8
Slide 24: Unparalleled Cost Efficiency
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx UNPARALLELED COST EFFICIENCY STARSHIP: STEP FUNCTION IMPROVEMENT IN REUSABILITY LAUNCH COST PER KG TO LOW EARTH ORBIT $ 20,000 $ 18,500 $ 15,000 $ 10,000 85% Average Cost 92% Average Cost 99%+ Ta
Slide 25: Unparalleled Throughput
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx UNPARALLELED THROUGHPUT STARSHIP: THE KEY TO UNLOCKING NEW MARKETS PAYLOAD CAPACITY (METRIC TONS) 200 200 150 100 100+ 100 64 50 23 0 FALCON 9 FALCON HEAVY STARSHIP V3 FUTURE STARSHIP (EXPENDABLE
Slide 26: Our Connectivity Business
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR CONNECTIVITY BUSINESS We leveraged our foundational launch capabilities to develop the most advanced global satellite internet constellation We operate a high-speed, low-latency global broadb
Slide 27: Unrivaled Satellite Constellation
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx UNRIVALED SATELLITE CONSTELLATION V2 SATELLITES V3 SATELLITES COMPETITIVE STRENGTHS Unparalleled launch capabilities and Availability Today H2 2026 rocket reusability led to the development of St
Slide 28: Where Terrestrial Infrastructure Falls Short
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WHERE TERRESTRIAL INFRASTRUCTURE FALLS SHORT LOW POPULATION DENSITY REMOTE COMMUNITIES CHALLENGING TOPOGRAPHY DEEP - SEA ENVIRONMENTS AIRBORNE ALTITUDE DISASTER ZONES 28
Slide 29: Starlink: The World's Largest Satellite Internet Network
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx STARLINK: THE WORLD’S LARGEST SATELLITE INTERNET NETWORK UNRIVALED SATELLITE INFRASTRUCTURE EXPANDING USER BASE UNPARALLELED GLOBAL REACH SATELLITES IN ORBIT AS OF MARCH 31, 2026 STARLINK SUBSCRI
Slide 30: Critical Partner to Enterprises and Governments
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx CRITICAL PARTNER TO ENTERPRISES AND GOVERNMENTS FIXED SITE LAND MOBILITY MARITIME AVIATION STARSHIELD Provides secure and resilient network for mission critical operations Ecuador PROVIDES ENTERP
Slide 31: Starlink Mobile: The World's Largest Satellite-to-Mobile Constellation
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx STARLINK MOBILE: THE WORLD'S LARGEST SATELLITE - TO- MOBILE CONSTELLATION GEN 1 GEN 2 Mobile Network Connectivity to ~30 Operators 5G unmodified cell phones and IoT devices ~1.9B People Covered 6
Slide 32: Our AI Business
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR AI BUSINESS We are the only company that can vertically integrate across AI compute infrastructure, frontier model, and real-time data We are building our AI business by leveraging our infras
Slide 33: World's Largest Coherent Supercomputer
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WORLD’S LARGEST COHERENT SUPERCOMPUTER BUILT FASTER AND CHEAPER THAN INDUSTRY BENCHMARKS 1st 1st 1st 1GW Gigawatt Scale Training Gigawatt Scale Megapack To deploy GB200s and Nameplate Compute Clu
Slide 34: Terrestrial Capacity Faces Significant Limitations
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx BOTH SIDES OF THE POLITICAL AISLE AGREE: TERRESTRIAL CAPACITY FACES SIGNIFICANT LIMITATIONS ELECTRICITY GENERATION HAS US TERRESTRIAL COMPUTE SHORTFALL REMAINED LARGELY STAGNANT IN THE EXPECTED T
Slide 35: Orbital AI Compute: Readily Available, Cheaper, and Faster
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx ORBITAL AI COMPUTE: READILY AVAILABLE, CHEAPER, AND FASTER No current regulatory hurdles and environmentally friendly READILY AVAILABLE Distribution enabled by Starlink technology Power from sola
Slide 36: We Are the Only Company That Can Do This
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WE ARE THE ONLY COMPANY THAT CAN DO THIS STARSHIP V3 STARLINK V3 EVOLVING CONNECTIVITY TO COMPUTE AI SATELLITE REDUCE & DELETE KEEP ADD Backhaul antennas Ion propulsion AI compute Large battery I
Slide 37: What Matters Most in Manufacturing Intelligence
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WHAT MATTERS MOST SPACE AND CONNECTIVITY LEADERSHIP IN MANUFACTURING INTELLIGENCE: INFRASTRUCTURE ADVANTAGE MOST AVAILABILITY LOWEST COST LARGER SCALE, LOWER COST PER TOKEN REINVESTMENT TO SCALE
Slide 38: Grok: Advanced Truth-Seeking AI Model
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx GROK: ADVANCED TRUTH - SEEKING AI MODEL Achieved frontier - level performance faster than any other leading model provider Rapid iterations with each release delivering material improvements Bene
Slide 39: Our Real-Time Information and Free Speech Platform
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR REAL - TIME INFORMATION AND FREE SPEECH PLATFORM ~550M ~350M Monthly Active Users Daily Posts STRATEGY TO GROW X MONETIZATION Evolve X into an “Everything App,” integrating real-time informat
Slide 40: How We Monetize Compute Infrastructure
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx HOW WE MONETIZE COMPUTE INFRASTRUCTURE SELLING COMPUTE SELLING INTELLIGENCE: SELLING INTELLIGENCE: ENTERPRISE CONSUMER Anthropic Cloud compute services agreement enabling access to compute capaci
Slide 41: Our Growth Strategy
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR GROWTH STRATEGY
Slide 42: Our Growth Strategy
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR GROWTH STRATEGY AI Grow consumer AI platform monetization Grow X monetization Deepen enterprise and government adoption CONNECTIVITY Increase the scale of our AI compute Grow Starlink Broadba
Slide 43: Pioneering the Lunar Economy
C:\Users \brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx PIONEERING THE LUNAR ECONOMY HUMAN MOON RETURN ESTABLISHING A LUNAR BASE BUILDING GROUND FOR AI COMPUTE SATELLITES Land humans on the moon by late 2020s for the first time since 1972 with NASA’s
Slide 44: Well-Positioned to Create New Markets
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WELL - POSITIONED TO CREATE NEW MARKETS WITH MULTI - TRILLION - DOLLAR ECONOMIC OPPORTUNITIES ENERGY PRODUCTION AND POINT - TO- POINT TERRESTRIAL TRAVEL IN - ORBIT MANUFACTURING MANUFACTURING ON
Slide 45: Track Record of Capital Allocation and Value Creation
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx TRACK RECORD OF CAPITAL ALLOCATION AND VALUE CREATION
Slide 46: Stellar Track Record of Capital Allocation & Value Creation
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx STELLAR TRACK RECORD OF CAPITAL ALLOCATION & VALUE CREATION SPACE AND CONNECTIVITY SEGMENT ADJ. EBITDA ($B) $7.8 $5.0 $9B $2.6 Building The Infrastructure Raised for Space & Connectivity of the F
Slide 47: Significant Growth and Scale Enables Investment in Value Creation
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx SIGNIFICANT GROWTH AND SCALE ENABLES INVESTMENT IN VALUE CREATION REVENUE ($B) 2025 ADJ. EBITDA ($B) Growth $18.7 33% 22% $14.0 $10.4 50% $6.6 $5.4 $3.8 8% 2023 2024 2025 2023 2024 2025 SPACE CON
Slide 48: Building the Infrastructure of the Future
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx BUILDING THE INFRASTRUCTURE OF THE FUTURE CAPITAL EXPENDITURES ($B) To fuel our growth, we are continuing to invest behind our massive opportunity $20.7 Space capex concentrated on scaling launch
Slide 49: We Aim to Build a High Growth, High Margin Business
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx WE AIM TO BUILD A HIGH GROWTH, HIGH MARGIN BUSINESS 2025 Future Target Revenue Growth (%) 33% Significantly Higher Continuous investment unlocks massive markets Expansion as AI monetization grows
Slide 50: Appendix
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx APPENDIX
Slide 51: Our Revenue Components
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR REVENUE COMPONENTS Year Activated 2002 2020 2023 SPACE CONNECTIVITY AI LAUNCH BROADBAND ADVERTISING Third-Party Launches Consumer CONSUMER SUBSCRIPTIONS Lunar Economy Enterprise Grok & X Prem
Slide 52: Space: Our Foundational Competitive Advantage
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx SPACE: OUR FOUNDATIONAL COMPETITIVE ADVANTAGE REVENUE ($B) 80%+ of 2025 Mass to Orbit for the world $3.8 $4.1 $3.6 Increases in launch capacity primarily allocated to Connectivity & expected allo
Slide 53: Connectivity: Diversified Revenue, High Growth, and Strong Profitability
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx CONNECTIVITY: DIVERSIFIED REVENUE, HIGH GROWTH, AND STRONG PROFITABILITY REVENUE ($B) $1.6T TAM, split across Starlink Broadband $11.4 ($870B) and Starlink Mobile ($740B) $7.6 Revenue growth driv
Slide 54: AI: Investing in a $27 Trillion Opportunity
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx AI: INVESTING IN A $27 TRILLION OPPORTUNITY REVENUE ($B) Gigawatt-scale AI training cluster $3.0 $3.2 $2.6 Faster and cheaper compute infrastructure AI Solutions + Infrastructure from vertical in
Slide 55: Our Key Metrics
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx OUR KEY METRICS Total kilograms of payload deployed to orbit in a period, calculated as the sum of verified mass (including MASS TO ORBIT Starlink satellites, customer payloads, and development c
Slide 56: GAAP to Non-GAAP Reconciliation: Adjusted EBITDA
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx GAAP TO NON-GAAP RECONCILIATION: ADJUSTED EBITDA (in billions) 2023 2024 2025 Q1 2026 Net income (loss) ($4.6) $0.8 ($4.9) ($4.3) Add (deduct): Depreciation and amortization $2.6 $3.8 $6.7 $2.4 S
Slide 57: GAAP to Non-GAAP Reconciliation: Segment Adjusted EBITDA
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx GAAP TO NON-GAAP RECONCILIATION: SEGMENT ADJUSTED EBITDA SPACE (in billions) 2023 2024 2025 Q1 2026 Income (loss) from operations ($0.0) $0.0 ($0.7) ($0.7) Add (deduct): Depreciation and amortiza
Slide 58: GAAP to Non-GAAP Reconciliation: Segment Adjusted EBITDA
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx GAAP TO NON-GAAP RECONCILIATION: SEGMENT ADJUSTED EBITDA CONNECTIVITY (in billions) 2023 2024 2025 Q1 2026 Income (loss) from operations $0.5 $2.0 $4.4 $1.2 Add (deduct): Depreciation and amortiz
Slide 59: GAAP to Non-GAAP Reconciliation: Segment Adjusted EBITDA
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx GAAP TO NON-GAAP RECONCILIATION: SEGMENT ADJUSTED EBITDA AI (in billions) 2023 2024 2025 Q1 2026 Income (loss) from operations ($4.0) ($1.6) ($6.4) ($2.5) Add (deduct): Depreciation and amortizat
Slide 60: C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx
C:\Users\brigee\Downloads\2026.06 Project Apex Roadshow Discussion Materials Long Form (2026.06.05).pptx
Space Exploration Technologies — IPO Roadshow (June 2026) on 6ix