X Corp (formerly Twitter)
Financial Performance
X Corp (formerly Twitter) Revenue & Financials
Revenue
$3.2B (FY2025)
Employees
1,500
What is X Corp (formerly Twitter)'s revenue?
X Corp (formerly Twitter) had $3.2B in revenue for fiscal year 2025, up 22.1% from 2024.
- Latest revenue
- $3.2B (FY2025)
- Year-over-year
- +22.1%
- Growth rate (CAGR)
- 7.8% over 11 years
- Peak revenue
- $5.1B (FY2021)
- Years of data
- 10
- Employees
- 1,500
- How many employees does X Corp (formerly Twitter) have?
- X Corp (formerly Twitter) has about 1,500 employees.
Financial Analysis
Twitter's last full year as a public company was 2021, when its 10-K reported $5.08B in revenue and a $221M net loss. X published nothing after that until SpaceX's S-1, made public on May 20, 2026. The filing reports X inside the AI segment with Grok. That segment had $3.2B of revenue and a $6.4B operating loss in 2025, compared with $2.62B of revenue and a $1.56B operating loss in 2024. Business Insider's analysis of the filing put X's 2025 ad revenue at about $1.8B, up around 7% from 2024 and roughly 59% below 2021. The filing does not give a standalone profit figure for X. X Corp (formerly Twitter, Inc.) is a highly controversial American social media and technology company operating as a completely private entity since its massive $44 billion acquisition by Elon Musk in 2022.
Revenue Trend Analysis
YoY Change
+22.1%
11-Year CAGR
+7.8%
Peak Year
2021
Trend
Consistent Growth
X Corp (formerly Twitter) has 10 full fiscal year figures on this page, compounding at +7.8% annually over 11 years. The most recent year saw a 22.1% increase versus the prior year. Annual revenue peaked in fiscal year 2021 at $5.1B. Of 8 comparable year-over-year steps, 7 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | $3.2B | — | +22.1% | SpaceX S-1 (via TechCrunch) SpaceX AI segment (X plus Grok). Operating loss of $6.4B. X ad revenue was about $1.8B. |
| FY2024 | $2.6B | — | — | SpaceX S-1 (via TechCrunch) xAI including X. Operating loss of $1.56B; net income not given separately. |
| FY2021 | $5.1B | -$221.4M | +36.6% | Twitter FY2021 Form 10-K Last full year as a public company. |
| FY2020 | $3.7B | -$1.1B | +7.4% | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2022-02-16) Fiscal year ended 2020-12-31. |
| FY2019 | $3.5B | $1.5B | +13.7% | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2022-02-16) Fiscal year ended 2019-12-31. |
| FY2018 | $3B | $1.2B | +24.5% | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2021-02-17) Fiscal year ended 2018-12-31. |
| FY2017 | $2.4B | -$108.1M | -3.4% | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2020-02-19) Fiscal year ended 2017-12-31. |
| FY2016 | $2.5B | -$456.9M | +14.0% | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2019-02-21) Fiscal year ended 2016-12-31. |
| FY2015 | $2.2B | -$521M | +58.1% | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2018-02-23) Fiscal year ended 2015-12-31. |
| FY2014 | $1.4B | -$577.8M | — | X Corp (formerly Twitter) annual report (Form 10-K, SEC EDGAR, filed 2017-02-27) Fiscal year ended 2014-12-31. |
Click any row to see year details.
Keep researching X Corp (formerly Twitter)
X Corp (formerly Twitter) Revenue and Financial FAQ
What are X Corp's estimated annual revenues as a private company?
As a private company, X does not disclose audited financials, but analysts and secondary investors estimate annual revenues at approximately $3.0 billion to $3.4 billion, down from Twitter's peak public revenue of $5.08 billion in 2021.
How much debt did Elon Musk's acquisition place on X?
The $44 billion acquisition loaded X with approximately $13 billion in bank debt, requiring an estimated $1.0 billion to $1.2 billion in annual interest servicing payments.
How did institutional investors value their equity stakes post-buyout?
Mutual fund manager Fidelity and other minority co-investors periodically marked down the value of their equity stakes in X by 65% to 75% relative to the original $44 billion purchase price.
How did drastic cost-cutting impact X's operating cash burn?
By eliminating over 6,000 employees, subleasing office spaces, and renegotiating cloud infrastructure contracts, Musk reduced non-debt operating expenses by over 70%, pushing the company close to operational cash flow breakeven.
Who were the primary banks that financed the buyout?
A syndicate of major investment banks led by Morgan Stanley, Bank of America, Barclays, and Mitsubishi UFJ provided the $13 billion in debt financing, which they held on their balance sheets.
Who are the major equity co-investors in X Corp?
Key equity partners alongside Elon Musk include Kingdom Holding Company (Prince Alwaleed bin Talal), venture firm Andreessen Horowitz, Larry Ellison, Sequoia Capital, and crypto exchange Binance.
Was Twitter historically profitable prior to the buyout?
During its nine years as a public company, Twitter rarely achieved consistent GAAP net profits, producing cumulative net losses exceeding $2.5 billion between 2013 and 2021 despite strong top-line revenue growth.
What is X's financial path toward an eventual public re-listing?
To pursue an eventual IPO or capital return, X must expand high-margin payments and AI subscription revenues, stabilize mainstream advertising relationships, and de-lever its $13 billion debt burden.
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CorpDigest. "X Corp (formerly Twitter) Revenue & Financials." CorpDigest, https://corpdigest.com/company/x-corp-formerly-twitter/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>X Corp (formerly Twitter) reported $3.2B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/x-corp-formerly-twitter/financials" target="_blank" rel="noopener">CorpDigest — X Corp (formerly Twitter) financials</a></div>Related Financial Audits
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