SpaceX draft IPO filing: from 2023 to 2025, Starlink's individual subscribers rose from 2.3M to 8.9M, revenue grew from $3.9B to $11.4B, and ARPU fell 18% (The Information)

Starlink demonstrated explosive growth from 2023-2025, expanding subscribers nearly 4x (2.3M to 8.9M) and revenue nearly 3x ($3.9B to $11.4B), signaling a viable enterprise-grade connectivity alternative for distributed IT infrastructure and remote operations. The 18% ARPU decline reflects competitive pricing pressure and market saturation risks that IT leaders should monitor when evaluating satellite-based connectivity for business continuity and edge computing strategies. This represents a strategic inflection point where space-based connectivity transitions from emerging technology to mainstream infrastructure option, requiring CIOs to reassess their WAN and resilience architectures.