SpaceX's expenses reportedly increased to $5.2 billion last year from $3.3 billion a year ago due to rising research and development costs. Despite this, the company managed to reduce losses to $559 million from $968 million a year ago, thanks to a doubling in revenue. The company also made a small profit of $55 million in Q1 2021. Last year, $1.3 billion was spent on research and development, a 11% increase year-on-year. The company has been investing in its Starship project and expanding its Starlink constellation.