During a webinar on Thursday, analysts from the firm outlined the reasons why they think SpaceX has been able to achieve a positive cash flow in its space Internet business just five years after the first batch of 60 satellites were launched.

The co-founder of the firm, Chris Quilty, said the rapidity of Starlink's rise surprised a lot of people, including himself.

Both SpaceX and another company, OneWeb, announced plans to build satellite megaconstellations in 2015 to deliver broadband Internet from low-Earth orbit.

This value indicates how well a company is managing its day-to-day operations and stands for earnings before interest, taxes, depreciation, and amortization.

These figures, it should be noted, do not include SpaceX's Starshield business, which is building custom satellites for the US military for observation purposes and will likely leverage its Starlink technology.

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