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Rocket Lab Announces Second Quarter 2025 Financial Results, Posts Record Quarterly Revenue of $144m, Representing 36% Year-on-Year Growth, While Expanding Gross Margins 650 Basis Points Year-on-Year

LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab Corporation (Nasdaq: RKLB) (鈥淩ocket Lab鈥�, 鈥渢he Company鈥�, 鈥渨e,鈥� 鈥渦s,鈥� or 鈥渙ur鈥�), a global leader in launch services and space systems, today shared the financial results for fiscal second quarter ended June 30, 2025.

Rocket Lab founder and CEO, Sir Peter Beck, said: 鈥淩ocket Lab has delivered impressive gross margin expansion and another record revenue result this past quarter, driven by our strong operational performance and program execution that has us on track for a record year of launches and spacecraft delivery. It鈥檚 also been a busy quarter of M&A activity as we鈥檝e progressed our acquisition of Geost, strongly positioning ourselves to meet the needs of defense initiatives like the Golden Dome with end-to-end mission solutions across launch, spacecraft - and now payloads. We鈥檙e confident our strategic investments will drive new growth opportunities that will drive us toward long-term profitability, particularly as we guide toward another potential record quarter for Q3.

鈥淥n the launch side of the business, with five flawless missions executed, Electron maintains its leadership position as the world鈥檚 leading small orbital rocket with a rising launch cadence and increasing international demand for its services. We鈥檝e also made steady progress with our reusable medium-lift rocket Neutron, with Launch Complex 3 now largely complete and flight hardware on its way there for first launch 鈥� bringing us closer to delivering disruptive competition to the launch industry for our commercial and national security customers.鈥�

Business Highlights for the Second Quarter 2025, plus updates since June 30, 2025.

• Successfully launched five Electron missions across the quarter, including two launches two days apart from the same launch site 鈥� a new record from Rocket Lab Launch Complex 1. Another successful launch this week brings Rocket Lab鈥檚 total Electron launch count to 69.
• New Electron launch contracts with international space agencies, reflecting the strength of Rocket Lab鈥檚 global reputation as a trusted launch provider for both the U.S. and its allies.
• Confirmed Rocket Lab鈥檚 Launch Complex 3 - the launch, test, and landing site for its reusable Neutron rocket 鈥� is on track to be completed and officially opened in Q3, 2025.
• The creation of a new Payloads business unit that significantly enhances the Company鈥檚 position for future defense satellite contracts with its imminent acquisition of Geost, expected to close shortly for $275 million in a cash-plus equity transaction, including a potential time-based revenue earnout of up to $50 million.
• Moved into production of the Company鈥檚 $515 million constellation build of 18 spacecraft for the Space Development Agency鈥檚 Tranche 2 Transport Layer, following the Agency鈥檚 confirmation that Rocket Lab鈥檚 spacecraft design, manufacturing approach, and systems architectures meets its mission requirements.

Third Quarter 2025 Guidance

For the third quarter of 2025, Rocket Lab expects:

• Revenue between $145 million and $155 million.
• GAAP Gross Margins between 35% and 37%.
• Non-GAAP Gross Margins between 39% and 41%.
• GAAP Operating Expenses between $104 million and $109 million.
• Non-GAAP Operating Expenses between $86 million and $91 million.
• Expected Interest Expense (Income), net $1.3 million.
• Adjusted EBITDA loss of $21 million and $23 million.
• Basic Weighted Average Common Shares Outstanding of 528 million, including approximately 46 million of Series A Convertible Participating Preferred Shares.

See 鈥淯se of Non-GAAP Financial Measures鈥� below for an explanation of our use of Non-GAAP financial measures, and the reconciliation of historical Non-GAAP measures to the comparable GAAP measures in the tables attached to this press release. We have not provided a reconciliation for the forward-looking Non-GAAP Gross Margin, Non-GAAP Operating Expenses or Adjusted EBITDA expectations for Q3 2025 described above because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. Stock-based compensation is currently expected to range from $16 million to $17 million in Q3 2025.

Conference Call Information

Rocket Lab will host a conference call for investors at 2 p.m. PT (5 p.m. ET) today to discuss these business highlights and financial results for our second quarter, to provide our outlook for the third quarter, and other updates.

The live webcast and a replay of the webcast will be available on Rocket Lab鈥檚 Investor Relations website:

About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, a family of flight-proven spacecraft, and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab鈥檚 Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered more than 200 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab鈥檚 Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit .

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the 鈥淪ecurities Act鈥�) and Section 21E of the Securities Exchange Act of 1934, as amended (the 鈥淓xchange Act鈥�). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our expectations of financial results for the first quarter of 2025, launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development and anticipated timeline to launch, operational expansion and business strategy are forward-looking statements. The words 鈥渂elieve,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渆stimate,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆xpect,鈥� 鈥渟trategy,鈥� 鈥渇uture,鈥� 鈥渃ould,鈥� 鈥渨ould,鈥� 鈥減roject,鈥� 鈥減lan,鈥� 鈥渢arget,鈥� and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the 鈥淪EC鈥�), accessible on the SEC鈥檚 website at and the Investor Relations section of our website at , which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management鈥檚 estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Use of Non-GAAP Financial Measures

We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (鈥淕AAP鈥�) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company's ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliation of the non-GAAP financial information to the corresponding GAAP measures for the historical periods disclosed are included at the end of the tables in this press release. We have not provided a reconciliation for forward-looking non-GAAP financial measures because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. The following definitions are provided:

Adjusted EBITDA

EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from net income or loss to determine Adjusted EBITDA. Management believes this measure provides investors meaningful insight into results from ongoing operations.

Other Non-GAAP Financial Measures

Non-GAAP gross profit, gross margin, research and development, net, selling, general and administrative, operating expenses, operating loss and total other income (expense), net, further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from the applicable GAAP financial measure. Management believes these non-GAAP measures provide investors meaningful insight into results from ongoing operations.

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Rocket Lab Investor Relations Contact

Patrick Vorenkamp

[email protected]

Rocket Lab Media Contact

Murielle Baker

[email protected]

Source: Rocket Lab Corporation