Rocket Lab Corp RKLB
Our Mission: We Open Access to Space to Improve Life on Earth.
Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, optical systems and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. We believe that space has defined some of humanity's greatest achievements and it continues to shape our future. We are motivated by the impact we can have on Earth by making it easier to get to space and using it as a platform for innovation, exploration and infrastructure.
As one of select few commercial companies delivering regular access to orbit, our proven launch vehicle, spacecraft technology and global infrastructure uniquely position us to grow in this dynamic market. Advances in technologies, materials and components have led to miniaturization of spacecraft and a significant reduction in cost and time-to-market, concurrent with the increase in demand for space applications such as communications, remote sensing, Earth observation, meteorology and navigation. We provide customers with frequent, reliable and cost-effective access to orbit with Electron, a fully carbon composite launch vehicle powered by Rutherford, our electric turbopump 3D printed engines. Since our first Electron launch in 2017 through December 31, 2025, we have delivered over 200 spacecraft to orbit across 75 successful missions for commercial and government customers, including the United States ("U.S.") Department of War ("DoW"), the National Aeronautics and Space Administration ("NASA"), the Defense Advanced Research Projects Agency ("DARPA"), the National Reconnaissance Office ("NRO"), and a number of domestic and international commercial spacecraft operators including Blacksky Holdings, Canon, Kinéis, Capella Space, Planet, OHB Group and Synspective. In 2025, Electron was the second most frequently launched orbital rocket.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $601.8M | $436.2M | $244.6M | $211.0M | $62.2M | $35.2M | — |
| Cost of revenue | $394.6M | $320.1M | $193.2M | $192.0M | $64.1M | $47.0M | — |
| Gross profit | $207.2M | $116.1M | $51.4M | $19.0M | -$1.9M | -$11.8M | — |
| R&D | $270.7M | $174.4M | $119.1M | $65.2M | $41.8M | $19.1M | — |
| SG&A | $165.3M | $131.6M | $110.3M | $89.0M | $58.4M | $24.0M | — |
| Total operating expenses | $436.0M | $305.9M | $229.3M | $154.2M | $100.2M | $43.1M | — |
| Operating income | -$228.8M | -$189.8M | -$177.9M | -$135.2M | -$102.1M | -$55.0M | — |
| Interest expense | $26.5M | $26.2M | $17.5M | — | — | — | — |
| Pre-tax income | -$225.9M | -$189.4M | -$178.9M | -$132.9M | -$124.8M | -$54.5M | — |
| Income tax | $27.7M | $764.0K | $3.6M | $3.0M | $7.5M | $467.0K | — |
| Net income | -$198.2M | -$190.2M | -$182.6M | -$135.9M | -$117.3M | -$55.0M | — |
| EPS, basic | -0.37 | -0.38 | -0.38 | -0.29 | -0.56 | -0.73 | — |
| EPS, diluted | -0.37 | -0.38 | -0.38 | -0.29 | -0.56 | -0.73 | — |
| Shares, diluted (wtd. avg.) | 530.7M | 495.9M | 481.8M | 466.2M | 209.9M | 75.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $828.7M | $271.0M | $166.4M | $245.9M | $692.1M | $53.9M | $97.7M |
| Short-term investments | $187.9M | $147.9M | $82.3M | $229.3M | $0 | — | — |
| Receivables | $39.0M | $36.4M | $35.2M | $36.6M | $14.0M | $2.7M | — |
| Inventory | $158.4M | $119.1M | $107.9M | $92.3M | $47.9M | $26.1M | — |
| Total current assets | $1.37B | $692.6M | $476.7M | $662.3M | $774.8M | $93.1M | — |
| Property, plant and equipment | $319.5M | $194.8M | $145.4M | $101.5M | $65.3M | $49.8M | — |
| Goodwill | $205.8M | $71.0M | $71.0M | $71.0M | $43.3M | $3.1M | $0 |
| Other intangibles | $224.7M | $58.6M | $68.1M | $79.7M | $57.5M | $11.3M | — |
| Total assets | $2.32B | $1.18B | $941.2M | $989.1M | $980.8M | $187.9M | — |
| Accounts payable | $72.7M | $53.1M | $29.3M | $12.1M | $3.5M | $3.4M | — |
| Short-term debt | $0 | $12.0M | $17.8M | $2.9M | $2.8M | $0 | — |
| Total current liabilities | $334.5M | $339.5M | $223.4M | $162.9M | $96.3M | $48.4M | — |
| Long-term debt | $1.7M | $44.0M | $87.6M | $100.0M | $97.3M | $0 | — |
| Total liabilities | $602.6M | $801.9M | $386.7M | $315.9M | $282.4M | $79.6M | — |
| Retained earnings | -$1.01B | -$813.7M | -$623.5M | -$441.0M | -$305.0M | -$187.7M | — |
| Total equity | $1.72B | $382.5M | $554.5M | $673.2M | $698.4M | -$166.7M | -$118.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$165.5M | -$48.9M | -$98.9M | -$106.5M | -$71.8M | -$27.8M | — |
| Depreciation and amortisation | $25.4M | $19.8M | $15.4M | $16.2M | $7.5M | $6.5M | — |
| Stock-based compensation | $71.1M | $56.8M | $53.5M | $55.6M | $32.6M | $4.2M | — |
| Capital expenditure | $156.3M | $67.1M | $54.7M | $42.4M | $25.7M | $25.1M | — |
| Investing cash flow | -$347.4M | -$98.3M | $12.0M | -$346.1M | -$92.1M | -$37.3M | — |
| Financing cash flow | $1.07B | $256.7M | $7.4M | $2.0M | $799.9M | $21.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-023922.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $35.2M | $62.2M | $211.0M | $244.6M | $436.2M | $601.8M |
| Gross profit | — | -$11.8M | -$1.9M | $19.0M | $51.4M | $116.1M | $207.2M |
| Net income | — | -$55.0M | -$117.3M | -$135.9M | -$182.6M | -$190.2M | -$198.2M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Other event Item 8.01
- Results announced Item 2.02
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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