SpaceX chairman Elon Muskwho also directs Tesla Inc TSLAcould hold an ifirst public offering to the Starlink until 2025.

What happened: Starlink, SpaceX’s satellite internet service, could be spun off by Musk, according to analysts at CCS Insight. reported CNBC.

“We think it makes perfect sense,” he said ben wood in an interview with CNBC. He said, “Starlink will need to invest heavily.”

In its annual report of predictions, CCS Insights said that as Starlink’s revenue becomes “more predictable” and its user base expands, the company will be “spun off to raise capital to expand its satellite constellation” to meet increasing demand for its satellites services, according to CNBC.

See also: How to invest in space startups

Why it matters: Wood said an IPO would help drive investment and, consequently, international expansion, making Starlink the “go-to player for satellite broadband,” CNBC reported.

In June, Musk said that Starlink is not expected to go public before 2025. He told company employees that he expects the business to be “in a smooth state” with “good predictability” before he can consider spinning off the service into a public company.

Musk announced Tuesday that Starlink is losing $20 million a month due to “unpaid services and costs” associated with it improved security measures for cyberwar defense for its terminals operating in Ukraine – a country at war with Russia.

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