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RKLB · Rocket Lab

18 filings

10-Q

RKLB 10-Q Quarterly Reports

Rocket Lab - 18 quarterly reports

Filing record · 2020–202610-K810-Q188-K88

2026-Q2
Rocket Lab Quarterly Report for Q2 Ended Jun 30, 2026
Rocket Lab Corporation (RKLB) has reported a significant increase in total revenues for the six months ended June 30, 2026, reaching $434.4 million, a 63% rise year-over-year. This growth is primarily driven by a 76% increase in Space Systems revenue, fueled by satellite manufacturing and strategic acquisitions, complemented by a 32% rise in Launch Services revenue attributed to higher launch cadence and revenue per launch. The company's financial position has strengthened considerably, with cash and cash equivalents and marketable securities totaling $2.39 billion as of June 30, 2026, up from $1.10 billion at the end of 2025. This robust liquidity, coupled with substantial order backlog of $2.36 billion, positions Rocket Lab well for its ambitious growth plans. The company is actively pursuing strategic growth initiatives, including the significant development of its Neutron launch vehicle, with production aligned for a potential Q4 2026 launch. Furthermore, Rocket Lab announced a definitive agreement to acquire Iridium Communications Inc. for approximately $8.0 billion, expected to close in 2027, which would substantially expand its capabilities and market reach. Recent contract wins, including a potential $266 million U.S. Space Force contract for suborbital launches and a $397 million contract for satellites, further underscore the company's strong market position and future revenue potential.
Aug 10, 2026
2026-Q1
Rocket Lab Quarterly Report for Q1 Ended Mar 31, 2026
Rocket Lab Corporation (RKLB) reported significant revenue growth of 63% for the first quarter of 2026, reaching $200.3 million, driven by strong performance in both its Launch Services and Space Systems segments. The company's balance sheet shows a healthy increase in cash and cash equivalents to $1.2 billion, up from $828.7 million at the end of 2025, providing substantial liquidity. Despite the revenue surge, RKLB continued to invest heavily in research and development, particularly for the Neutron launch vehicle, leading to an operating loss of $56.0 million. However, the significant revenue increase and improved gross profit margin to 38.2% (up from 28.8% in Q1 2025) indicate positive operational leverage. Key developments include ongoing progress on the Neutron launch vehicle, which is on track for its debut launch later in the year, though risks and uncertainties remain. The company also successfully closed the acquisition of GEOST LLC in August 2025, integrating new capabilities into its Space Systems segment. While the company continues to operate at a net loss, the substantial revenue growth, strong cash position, and strategic investments in future growth drivers like Neutron position RKLB for potential long-term value creation, though investors should remain mindful of the ongoing R&D expenditures and development risks.
May 7, 2026
2025-Q3
Rocket Lab Quarterly Report for Q3 Ended Sep 30, 2025
Rocket Lab Corporation (RKLB) reported a significant increase in revenue for the third quarter of 2025, reaching $155.1 million, a 48% rise year-over-year, driven by robust growth in both its Launch Services and Space Systems segments. For the nine-month period ending September 30, 2025, total revenue grew to $422.1 million, up 39% compared to the same period in 2024. Despite revenue growth, the company continued to operate at a net loss, with a loss of $18.3 million in the third quarter and $145.3 million for the first nine months of 2025. The company's cash position strengthened considerably, with cash and cash equivalents and marketable securities totaling over $1 billion as of September 30, 2025, a substantial increase from the previous year, largely due to successful equity offerings. Strategic acquisitions, notably the GEOST acquisition in August 2025, have contributed to the expansion of its Space Systems segment and the associated goodwill and intangible assets. Rocket Lab also announced plans to acquire Mynaric AG for $75 million, subject to regulatory approval, further bolstering its capabilities. While investing heavily in research and development, particularly for the Neutron launch vehicle, the company faces ongoing operational challenges including the impact of the US government shutdown, which has caused delays in contract awards and payments. Management anticipates that existing cash reserves will be sufficient to meet working capital needs for the next twelve months.
Nov 10, 2025
2025-Q2
Rocket Lab Quarterly Report for Q2 Ended Jun 30, 2025
Rocket Lab Corporation (RKLB) reported a strong increase in revenue for the second quarter and first half of 2025, with total revenues growing 36% year-over-year to $144.5 million for the quarter and 34% to $267.1 million for the first six months. This growth was primarily driven by robust performance in the Space Systems segment, fueled by satellite manufacturing, and a significant uptick in Launch Services revenue due to increased launch cadence and revenue from over-time recognized missions. Despite revenue growth, the company continued to experience operating losses, with a net loss of $66.4 million for the quarter and $127.0 million for the first six months, largely due to substantial investments in Research and Development, particularly for the Neutron launch vehicle. The company significantly strengthened its balance sheet, ending the quarter with $564.1 million in cash and cash equivalents and $185.2 million in marketable securities, a substantial increase from the prior year, bolstered by proceeds from an At-the-Market (ATM) Equity Offering. The backlog remained substantial at $995.4 million, with a significant portion expected to be recognized within the next 12 months. Management expressed confidence in their liquidity position, anticipating current cash and customer payments to be sufficient for at least the next twelve months, while also planning for further investments in production, product development, and potential acquisitions.
Aug 7, 2025
2025-Q1
Rocket Lab Quarterly Report for Q1 Ended Mar 31, 2025
Rocket Lab USA, Inc. (RKLB) reported a 32% year-over-year increase in total revenues for the first quarter of 2025, reaching $122.6 million, primarily driven by strong performance in its Space Systems segment. Despite this revenue growth, the company posted a net loss of $60.6 million for the quarter, an increase from the $44.3 million loss in the prior year, largely due to increased operating expenses, particularly in research and development for the Neutron launch vehicle and expansion of its spacecraft components portfolio. The company ended the quarter with a healthy cash position of $303.1 million, supplemented by $209.2 million in marketable securities, indicating sufficient liquidity for the next twelve months. Significant investments continue in the development of the Neutron launch vehicle and scaling production capabilities, which are key to the company's future growth strategy. Management remains focused on improving profit margins and expanding its market share in both launch services and space systems. Key developments include the ongoing progress on the Neutron vehicle, continued strength in Space Systems, and a substantial backlog of $1.07 billion. The company also noted the potential impact of recent U.S. trade policy shifts, including new tariffs, on its supply chain, although it has not been materially impacted to date.
May 8, 2025
2024-Q3
Rocket Lab Quarterly Report for Q3 Ended Sep 30, 2024
Rocket Lab Corporation (RKLB) reported significant revenue growth in its third quarter and first nine months of 2024, with total revenues increasing by 55% and 65% year-over-year, respectively. This growth was primarily driven by a strong performance in the Space Systems segment, which saw an 81% increase in revenue for the quarter and 82% for the nine-month period. While the Launch Services segment experienced a slight dip in quarterly revenue, it saw growth over the nine-month period due to increased launch cadence and higher revenue per launch. The company continues to invest heavily in research and development, particularly for its Neutron launch vehicle, leading to a substantial increase in R&D expenses. Despite the revenue growth, Rocket Lab reported net losses for both periods, though the net loss as a percentage of revenue decreased compared to the prior year. The company successfully raised significant capital through the issuance of convertible senior notes in February 2024, bolstering its cash position to $292.5 million in cash and cash equivalents and $211.2 million in marketable securities as of September 30, 2024. This financial strength is crucial as Rocket Lab continues to scale its operations, develop new technologies, and expand its market reach in both launch services and space systems.
Nov 12, 2024
2024-Q2
Rocket Lab Quarterly Report for Q2 Ended Jun 30, 2024
Rocket Lab Corporation (RKLB) reported a significant increase in revenue for the quarter ended June 30, 2024, up 71% year-over-year to $106.3 million, driven by strong performance in both its Launch Services and Space Systems segments. The Space Systems segment, in particular, saw a 94% increase in revenue. Despite revenue growth, the company reported a net loss of $41.6 million for the quarter, though this represents an improvement from the prior year's loss of $45.9 million. The company's balance sheet reflects a substantial increase in cash and cash equivalents to $340.9 million, bolstered by proceeds from the issuance of convertible senior notes. Rocket Lab also announced a significant ten-launch agreement with Synspective and progress on its Neutron launch vehicle development. The company's strategic focus on expanding its launch capabilities with the Neutron vehicle and growing its Space Systems business is evident in the increased investment in research and development. While operating expenses also rose, they grew at a slower pace than revenue, leading to improved gross profit margins. Investors will be watching for continued revenue acceleration, progress on the Neutron program, and the company's path towards profitability.
Aug 8, 2024
2024-Q1
Rocket Lab Quarterly Report for Q1 Ended Mar 31, 2024
Rocket Lab USA, Inc. (RKLB) reported a strong revenue increase of 69% year-over-year for the first quarter of 2024, reaching $92.8 million, driven by significant growth in both its Launch Services and Space Systems segments. Despite this impressive top-line performance, the company continued to experience an operating loss, though it narrowed compared to the prior year. The company significantly bolstered its cash position through a substantial issuance of convertible senior notes, providing capital for ongoing development and operations. Key financial developments include a notable increase in cash and cash equivalents, largely attributable to the $355 million raised from convertible senior notes. However, the company also saw an increase in R&D expenses, reflecting continued investment in the Neutron launch vehicle and expanding space systems capabilities. The company ended the quarter with a backlog of $1,015.3 million, indicating substantial future revenue potential, with a significant portion expected within the next 12 months.
May 6, 2024
2023-Q3
Rocket Lab Quarterly Report for Q3 Ended Sep 30, 2023
Rocket Lab USA, Inc. (RKLB) reported its third-quarter 2023 financial results, showing a 7% increase in revenue year-over-year to $67.7 million, driven by a 16% increase in space systems revenue. For the first nine months of 2023, revenue grew 16% to $184.6 million, propelled by a higher launch cadence and continued growth in space systems. The company experienced a significant increase in operating expenses, particularly in research and development (up 52% year-over-year for the quarter) due to continued investment in its Neutron launch vehicle and expansion of its space systems capabilities. This investment, alongside higher selling, general, and administrative expenses, led to an increased operating loss. Despite revenue growth, the company's net loss widened for the quarter and year-to-date. A notable event during the quarter was an Electron launch anomaly on September 19, 2023. While the investigation led to a temporary halt in launches, Rocket Lab received FAA authorization to resume operations. This anomaly impacted launch revenue for the third quarter and could affect near-term revenue if further delays occur. The company ended the quarter with $140.9 million in cash and cash equivalents and maintains a backlog of $582.4 million.
Nov 8, 2023
2023-Q2
Rocket Lab Quarterly Report for Q2 Ended Jun 30, 2023
Rocket Lab Corporation (RKLB) reported its second-quarter 2023 financial results, indicating revenue growth driven by both its Launch Services and Space Systems segments. For the three months ended June 30, 2023, revenue increased by 12% year-over-year to $62.0 million, attributed to higher revenue per launch and growth in spacecraft manufacturing. The six-month period showed a more substantial 22% increase in revenue to $116.9 million, primarily driven by an increased launch cadence and Space Systems growth. Despite revenue growth, the company continued to experience significant operating losses, widening from $33.2 million in Q2 2022 to $45.2 million in Q2 2023, and from $66.0 million in the first six months of 2022 to $91.2 million in the same period of 2023. This increase in losses is largely due to substantial investments in research and development, particularly for the Neutron launch vehicle, and higher selling, general, and administrative expenses, including costs associated with being a public company and contingent consideration adjustments. The company ended the quarter with a solid cash position of $197.2 million in cash and cash equivalents and $218.0 million in marketable securities, and management believes this is sufficient for at least the next twelve months.
Aug 8, 2023
2023-Q1
Rocket Lab Quarterly Report for Q1 Ended Mar 31, 2023
Rocket Lab USA, Inc. (RKLB) reported its first quarter 2023 financial results, showing a 35% year-over-year increase in revenue to $54.9 million. This growth was primarily driven by a significant increase in launch cadence for its Electron rocket, which saw revenue jump 198% compared to the prior year quarter. The Space Systems segment also contributed, with revenue up 3%. Despite the top-line growth, the company continues to invest heavily in research and development, particularly for its Neutron medium-class launch vehicle and expanding its spacecraft component portfolio. This led to a substantial increase in R&D expenses, up 77% year-over-year, and an overall operating loss of $46.0 million. The company maintained a strong cash position with $208.4 million in cash and cash equivalents and $238.3 million in marketable securities as of March 31, 2023. However, operating cash flow remains negative, with $25.4 million used in operations during the quarter, reflecting ongoing investments and the company's growth phase. Rocket Lab is focused on scaling its operations, improving profit margins, and expanding its addressable market with the development of the Neutron vehicle, which aims to capture larger constellation launch opportunities.
May 9, 2023
2022-Q3
Rocket Lab Quarterly Report for Q3 Ended Sep 30, 2022
Rocket Lab's Q3 2022 10-Q shows a company in rapid transition from a launch-centric business to an integrated space company. Revenue for the three months ended September 30, 2022 reached $63.1 million, up from $5.3 million a year earlier, driven by acquisitions (SolAero, PSC, ASI) and a higher launch cadence. Nine-month revenue rose 358% to $159.2 million. Gross profit turned positive at $8.5 million for the quarter (13.4% margin) and $17.2 million year-to-date, compared with losses in the prior-year periods. Net loss narrowed sharply to $34.6 million in the quarter from $88.0 million a year earlier, though that comparison was distorted by a $33.9 million non-cash warrant fair-value charge in Q3 2021 that does not recur. Operating loss for the nine months was $98.0 million, and operating expenses rose as the company invested in the Neutron medium-lift rocket and public-company costs. The balance sheet remains solid but is weakening on a cash basis. Cash and equivalents fell to $333.3 million, with an additional $179.2 million in marketable securities, for total liquidity of about $512.5 million at quarter end, down from $691.0 million at year end 2021. Operating cash burn was $87.6 million over nine months, and investing outflows of $272.9 million included acquisitions and securities purchases. Backlog reached $520.6 million, with about 42% expected to convert within 12 months. The company carries a $102.2 million secured term loan from Hercules Capital maturing in June 2024, and management states that existing cash should cover working capital and capex needs for at least twelve months, while noting it may raise additional capital. The filing also discloses that disclosure controls were not effective as of September 30, 2022, because material weaknesses identified in the 2020 audit (covering schedule reviews, accounting resources, third-party specialist oversight, and segregation of duties) continued to exist as of December 31, 2021. Remediation is ongoing. Investors should weigh the strong revenue growth and improving gross margin against continued operating losses, cash consumption, dependence on the Neutron development timeline, and the unresolved control weaknesses.
Nov 9, 2022
2022-Q2
Rocket Lab Quarterly Report for Q2 Ended Jun 30, 2022
Rocket Lab's second-quarter 2022 10-Q shows a company in rapid top-line expansion that is still deeply unprofitable. Revenue rose 392% year over year to $55.5 million for the quarter and 226% to $96.2 million for the six months, driven largely by the SolAero, PSC and ASI acquisitions (about $27.6 million of Q2 growth from acquisitions) plus higher launch cadence. However, gross margin compressed sharply to 8.9% in Q2 (from 21.8%), and the operating loss widened to $33.2 million for the quarter and $66.0 million for the half. Net loss for Q2 was $37.4 million, or $(0.08) per share, and the six-month net loss was $64.1 million. The balance sheet remains strong in liquidity terms, with $542.5 million in cash and equivalents against $101.5 million of secured Hercules term loan debt. Cash used in operations was $64.6 million for the half, and investing outflows of $84.1 million, largely the SolAero purchase, reduced cash by $145.4 million over the period. Stock-based compensation rose to $28.8 million for the six months, a major driver of higher cost of revenues and operating expenses, and management attributes the higher cost per launch in part to this charge. Backlog stood at $531.4 million, with about 42% expected to convert within 12 months. Investors should weigh several concerns. Management concluded that disclosure controls were not effective because material weaknesses in internal control over financial reporting, first identified for 2020, persisted through June 30, 2022. Remediation is ongoing. The company also disclosed that it expects to lose emerging growth company status at year-end 2022. Management believes existing cash will fund operations for at least twelve months, but the Neutron medium-lift program and continued acquisitions will require substantial additional capital over time.
Aug 11, 2022
2022-Q1
Rocket Lab Quarterly Report for Q1 Ended Mar 31, 2022
Rocket Lab's first-quarter 2022 10-Q shows rapid top-line growth driven largely by acquisitions, but widening losses and rising costs. Revenue rose 124% year over year to $40.7 million (from $18.2 million), mainly from the Space Systems segment, which grew to $34.1 million on the PSC, ASI and SolAero acquisitions. Launch Services revenue fell 60% to $6.6 million on a lower launch cadence (one launch in the quarter). Gross margin improved modestly to 9.2% from 7.8%, but operating loss widened to $32.8 million from $12.3 million, as SG&A rose 248% to $23.1 million and R&D rose 90% to $13.5 million, largely on stock-based compensation and Neutron development. Net loss was $26.7 million, or $0.06 per share, compared with $15.9 million a year earlier. The net loss was narrower than the operating loss only because of a $13.5 million non-cash gain from remeasuring warrant liabilities. Liquidity remains solid but is declining. Cash and equivalents fell to $603.1 million from $691.0 million, driven by $65.6 million for the SolAero acquisition and $6.2 million in capital expenditures, with operating cash burn of $26.3 million. The company carries a $100 million Hercules secured term loan maturing June 2024, with about $100.8 million outstanding. Management states that existing cash should cover working capital and capex needs for at least the next twelve months. Backlog (remaining performance obligations) stood at $545.9 million, about 41% of which is expected to convert within 12 months. Investors should also note that management concluded disclosure controls were not effective as of March 31, 2022, because material weaknesses identified in 2020 persisted at year-end 2021. Remediation is ongoing. The company is also an emerging growth company, and the warrant redemption completed in January 2022 removed a significant dilution overhang.
May 16, 2022
2021-Q3
Rocket Lab Quarterly Report for Q3 Ended Sep 30, 2021
Rocket Lab's first 10-Q as a public company (filed November 15, 2021, following the August 25, 2021 Business Combination with Vector Acquisition Corp.) shows a company transformed from a private, venture-backed launch startup into a Nasdaq-listed entity with roughly $792.7 million in cash and cash equivalents at September 30, 2021, up from $52.8 million at year-end 2020. Revenue remains small and volatile: Q3 2021 revenue fell 50% year over year to $5.3 million because of COVID-19-related launch delays, while nine-month revenue rose 79% to $34.8 million, driven by higher content per launch and space systems growth. Losses widened sharply. Q3 net loss was $88.0 million, including a $33.9 million non-cash charge from remeasuring liability-classified warrants and heavy stock-based compensation tied to the merger, and gross loss for the quarter was $12.5 million. The balance sheet now carries about $81.98 million in public and private warrant liabilities, which will continue to swing reported earnings with the stock price, and a $100 million Hercules secured term loan maturing in June 2024 at a cash rate of at least 8.15%. Backlog stood at $183.1 million, with roughly 52% expected to convert within 12 months. Management expects existing cash to fund operations for at least twelve months, and it disclosed material weaknesses in internal control over financial reporting, concluding that disclosure controls were not effective as of September 30, 2021. Subsequent events include the October 2021 acquisition of Advanced Solutions Inc. for $40 million plus an earn-out of up to $5.5 million, and a November 15, 2021 agreement to acquire Planetary Systems Corporation for about $42 million in cash, 1.72 million shares, and up to 956,023 earn-out shares. For investors, the key questions are whether Rocket Lab can convert its backlog into consistent launch cadence and margin improvement, whether it can remediate its control weaknesses, and how much of the reported loss reflects one-time merger accounting versus underlying operating economics. The company's gross margin remains deeply negative, and its path to profitability depends on scaling production and on the Neutron medium-lift vehicle, which is still in development.
Nov 15, 2021
2021-Q2
Rocket Lab Quarterly Report for Q2 Ended Jun 30, 2021
Vector Acquisition Corporation (VACQ), operating as a special purpose acquisition company (SPAC), filed its Form 10-Q for the quarter ended June 30, 2021. As of this filing date, the company had not commenced any operations and its activities were limited to formation, its initial public offering (IPO), and identifying a target for a business combination. The IPO, which closed in September 2020, raised $300 million in gross proceeds, with an additional $20.4 million from an over-allotment option exercise. These proceeds, along with those from private placement warrants, were primarily held in a trust account, invested in U.S. government securities. The company's primary objective is to complete a business combination with an operating company. Crucially, Vector Acquisition Corporation announced on March 1, 2021, its entry into a Merger Agreement with Rocket Lab USA, Inc. The proposed business combination, expected to close in the third quarter of 2021, involves a series of mergers and a domestication to Delaware. A concurrent PIPE financing of $467 million from the sale of New Rocket Lab common stock was also arranged. As of June 30, 2021, the company had incurred net losses primarily due to formation and operating expenses, and changes in the fair value of warrant liabilities. The company stated it has access to funds from its sponsor to meet working capital needs for the next year.
Aug 3, 2021
2021-Q1
Rocket Lab Quarterly Report for Q1 Ended Mar 31, 2021
Vector Acquisition Corporation (VAC), operating as a blank check company, filed its Form 10-Q for the quarter ended March 31, 2021. During this period, the company was primarily focused on its formation and identifying a target for a business combination, with no operating revenues generated. The company's financial activities revolved around managing the proceeds from its Initial Public Offering (IPO) and private placements, which were largely held in a trust account. A significant event impacting the company's financials and disclosures was the reclassification of its warrants from equity to liabilities due to updated SEC guidance, leading to a material weakness in internal controls and a substantial non-cash charge related to the change in the fair value of these warrant liabilities. The most critical development for investors is the announcement of a proposed business combination with Rocket Lab USA, Inc. This merger agreement was signed on March 1, 2021, and the transaction is expected to close in the third quarter of 2021. The company also secured a PIPE financing of $467 million concurrently with the merger agreement. The filing provides details on the structure of the proposed business combination, including the domestication into a Delaware corporation and the subsequent mergers involving Rocket Lab and its subsidiaries. This SPAC is a smaller reporting company and an emerging growth company, and it has elected not to use the extended transition period for new or revised financial accounting standards.
May 24, 2021
2020-Q3
Rocket Lab Quarterly Report for Q3 Ended Sep 30, 2020
Vector Acquisition Corporation (VAC) is a blank check company, a Special Purpose Acquisition Company (SPAC), incorporated in July 2020 with the purpose of effecting a business combination with one or more companies. As of September 30, 2020, VAC had not yet identified a target company and its operations were limited to its formation, initial public offering (IPO), and subsequent efforts to find a suitable business for acquisition. The company's primary assets consist of cash held in a Trust Account ($300 million) and cash available for working capital. Liabilities include deferred underwriting fees. VAC successfully completed its IPO on September 29, 2020, issuing 30 million units at $10 each, generating substantial capital. A portion of these proceeds, along with funds from a private placement of warrants, is held in a trust for the eventual business combination. The company has a defined timeline (September 29, 2022) to complete a business combination, after which it will liquidate if unsuccessful. Investors should note that as of this filing date, no target has been identified, and all operational activities are preparatory for a future acquisition.
Nov 16, 2020