SpaceX reportedly turned a small profit in the first quarter of 2023, following two years of massive losses.

According to documents seen by The Wall Street Journal, SpaceX turned a $55 million profit on $1.5 billion in revenue. While that may not be much of a profit, it’s far better than the $559 million loss last year, and the $968 million loss the year before.

SpaceX continues to grow, securing NASA contracts and deploying its Starlink satellite constellation. Turning a profit this quarter is a significant milestone for the company and its future.