Various SpaceX execs have said they need to launch somewhere around 12 rockets/yr to be profitable in the long term (they likely have plenty of cash on hand rig

Various SpaceX execs have said they need to launch somewhere around 12 rockets/yr to be profitable in the long term (they likely have plenty of cash on hand right now, as most of their contracts pay quite a bit up front, and they have gotten a lot of funding from a couple NASA sponsored development programs). So yes, the launches themselves are profitable.