Only because they're funneling every dollar they earn into Starship. But as Starship contributes absolutely nothing to current revenue, excluding those costs is

Only because they're funneling every dollar they earn into Starship. But as Starship contributes absolutely nothing to current revenue, excluding those costs is the only fair apples-to-apples comparison. We don't know their exact costs because SpaceX is still a private company, but estimates are on the order of 60% profit margin across their business lines.