Ahead of a highly anticipated IPO, space giant SpaceX has landed more NASA contracts to take commercial crews to space. While the wins could be good news for current and future SpaceX investors, they also come while the space division of Boeing Inc (NYSE:BA) is struggling.
SpaceX Lands More Contracts
SpaceX helped rescue stranded astronauts in space, who were left there after the Boeing Starliner suffered several setbacks and was unable to complete the return mission.
A new report from SpaceNews says NASA has added more commercial crew contracts to space.
SpaceX is currently the only NASA-certified crew transportation method, with Boeing still working on being re-certified.
The new deal from NASA allows the space agency the ability to have a plan in place in case Boeing is not able to certify in time to carry out its existing space launch contract to take crews to the International Space Station.
SpaceX was part of the original contract with NASA to send crews to the International Space Station.
"It is necessary to award additional PCM's to SpaceX given the recently shortened ISS mission durations, technical issues and schedule delays encountered by Boeing," NASA said in a May 18 filing, as reported by SpaceNews.
SpaceX's original 2022 commercial crew contract was last modified in 2022, with five mission added for $1.4 billion. That current contract extension lasts through the Crew-14 mission. SpaceX's Crew 12 is currently at the International Space Station.
Increasing SpaceX's Revenue
The new filing could add up to six missions for SpaceX, adding billions of dollars in revenue for the space company ahead of its IPO. The new missions would extend the NASA contract for ISS missions through 2030, which is currently when the ISS is expected to be retired.
NASA's original 2014 contract for commercial crew was for $2.6 billion, with the 2022 extension adding $1.44 billion, as reported by Teslarati.
The new filing did not have an amount awarded to SpaceX. Teslarati expects the new contract of six missions to add $1.7 billion in contract value to SpaceX based on the previous rate of $287 million per mission.
In its IPO filing, SpaceX said it had 2025 revenue of $18.7 billion, with the majority of that total ($11.4 billion) coming from Starlink and $4 billion coming from the SpaceX segment. The other $3.2 billion came from the xAI social media and AI unit.
Starlink has been a key driver of SpaceX’s growing financials, but new NASA contract wins could help demonstrate the strength of the company’s original rocket-and-space-mission business.
Image via Shutterstock/ L Galbraith
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