SpaceX's expenses reportedly increased to $5.2 billion last year from $3.3 billion 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. SpaceX also made a small profit of $55 million in Q1 2021. The company spent $1.3 billion on research and development last year, a portion of which is expected to be tied to the Starship project.