Rocket Lab (RKLB) Company Report

Rocket Lab successfully launched a suborbital mission with its HASTE launch vehicle for the Defense Innovation Unit (DIU) and Missile Defense Agency (MDA) on November 18, 2025, from Wallops Island, Virginia.
This mission marks the sixth launch of the HASTE rocket since its debut in 2023, demonstrating Rocket Lab's commercial speed by launching within 14 months of contract signing.
The HASTE vehicle is designed for regular and reliable hypersonic test flights, capable of deploying technologies at speeds exceeding 7.5km per second.

Nov 18, 2025, 6:12 PM

Press Release

Rocket Lab Delays Neutron Rocket Debut to 2026

RKLB

Product Launch

New Projects/Investments

Rocket Lab has postponed the inaugural flight of its reusable, medium-lift Neutron rocket from 2025 to 2026, with the rocket expected at Launch Complex 3 in Virginia in Q1 2026 and launch to follow thereafter.
The delay is a strategic decision by CEO Sir Peter Beck, emphasizing a commitment to thorough testing and qualification to ensure a fully successful first flight and avoid premature launches.
Financially, Rocket Lab is experiencing strong revenue growth but remains unprofitable, operating with negative net and operating margins of approximately -45% due to high development costs. Despite this, the company maintains a solid liquidity position with a current ratio of 2.67 and a debt-to-equity ratio of 0.72.

Nov 11, 2025, 1:37 AM

Bloomberg

Rocket Lab Reports Strong Q3 2025 Results and Updates on Neutron and M&A

RKLB

Earnings

Guidance Update

M&A

Rocket Lab reported record Q3 2025 revenue of $155 million, a 48% year-over-year increase, with a GAAP gross margin of 37%.
The company provided Q4 2025 revenue guidance of $170-$180 million and anticipates GAAP gross margins to range between 37-39%.
The first launch of the Neutron rocket is now targeted for Q1 2026, with the aim to get to the pad in Q1 and the first launch thereafter, provided qualification and acceptance testing are completed to Rocket Lab's standards.
Rocket Lab closed the GEOS acquisition and is closer to acquiring Mynaric, strengthening its national security offerings and expanding into the European space sector.
The company's liquidity increased to just over $1 billion by the end of Q3 2025, driven by $468.8 million from an at-the-market equity offering program.

Nov 10, 2025, 10:00 PM

Transcript

Rocket Lab Reports Record Q3 2025 Revenue and Updates Neutron Launch Timeline

RKLB

Earnings

Guidance Update

New Projects/Investments

Rocket Lab reported record Q3 2025 revenue of $155 million, representing 48% year-over-year growth, and provided Q4 2025 revenue guidance of $170 million-$180 million.
The company achieved a GAAP gross margin of 37% in Q3 2025 and expects Q4 2025 GAAP gross margins to be between 37%-39%.
Total backlog stood at approximately $1.1 billion at the end of Q3 2025, with 57% expected to convert into revenue within the next 12 months.
Neutron's first launch is now targeted for Q1 2026, with estimated cumulative R&D and CapEx spending reaching approximately $360 million by the end of 2025.
Rocket Lab ended Q3 2025 with over $1 billion in liquidity, driven by an at-the-market equity offering, intended to support acquisitions and general corporate expenditures.

Nov 10, 2025, 10:00 PM

Transcript

RKLB Reports Record Q3 2025 Revenue and Provides Q4 2025 Outlook

RKLB

Earnings

Guidance Update

New Projects/Investments

Rocket Lab (RKLB) reported record revenue of $155 million in Q3 2025, marking a 48% year-over-year increase compared to Q3 2024, with GAAP Gross Margin of 37% and Non-GAAP Gross Margin of 41.9%.
The company ended Q3 2025 with a backlog of $1.1 billion and over $1 billion in cash and cash equivalents, marketable securities, and restricted cash, enhancing its capital position for strategic growth opportunities.
Operationally, RKLB achieved 16x 100% mission success for Electron launches in 2025 and opened Neutron's Launch Complex 3 in Q3 2025, with the Neutron rocket expected to arrive in Q1 2026 for pre-launch testing. Additionally, its two spacecraft for the NASA ESCAPADE mission to Mars are ready for launch.
For Q4 2025, RKLB anticipates revenue to be between $170 million and $180 million, with an expected Adjusted EBITDA loss ranging from $23 million to $29 million.

Nov 10, 2025, 10:00 PM

Presentation

Rocket Lab Reports Record Q3 2025 Revenue, Strong Backlog, and Neutron Program Update

RKLB

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Rocket Lab reported record revenue of $155 million in Q3 2025, marking a 48% year-over-year increase. GAAP gross margin for the quarter was 37%, with non-GAAP gross margin at 41.9%. The company projects full-year 2025 gross margins to be slightly over 34%, with Q4 2025 expected to reach 37%-39%.
Total backlog stood at approximately $1.1 billion at the end of Q3 2025, with launch services accounting for 47% and space systems for 53%. During the quarter, 17 dedicated Electron launches were signed.
The Neutron program is targeting the vehicle to reach the launch pad in Q1 2026, with the first launch to follow, pending successful qualification and acceptance testing. Cumulative R&D and Capital Expenditure for Neutron are estimated to be approximately $360 million by the end of 2025.
Rocket Lab completed the acquisition of GEOS and is nearing the acquisition of Mynaric, supported by over $1 billion in liquidity following an at-the-market equity offering program implemented in September.
GAAP EPS for Q3 2025 was a loss of $0.03 per share, an improvement from a loss of $0.13 per share in Q2 2025, partly due to a $41 million tax benefit from the GEOS acquisition.

Nov 10, 2025, 10:00 PM

Transcript

Rocket Lab Announces Record Q3 2025 Results and Q4 2025 Guidance

RKLB

Earnings

Guidance Update

M&A

Rocket Lab reported record quarterly revenue of $155 million for Q3 2025, marking a 48% year-on-year growth, and achieved a record GAAP gross margin of 37%. The company posted a net loss of $(18.3) million, or $(0.03) per share, for the quarter.
The company secured a record-breaking 17 Electron launch contracts in Q3 2025 and is on track for 20+ launches for the year. Rocket Lab also closed the acquisition of Geost for up to $325 million and exited the quarter with over $1 billion in liquidity.
For Q4 2025, Rocket Lab expects revenue to be between $170 million and $180 million and GAAP Gross Margins between 37% and 39%.
Matt Ocko notified the company of his resignation from the Board of Directors, effective November 30, 2025.

Nov 10, 2025, 9:18 PM

8-K

Rocket Lab Announces Q3 2025 Financial Results

RKLB

Earnings

Guidance Update

M&A

Rocket Lab reported record revenue of $155 million for the fiscal third quarter ended September 30, 2025, reflecting 48% year-on-year growth and a record GAAP gross margin of 37%.
The company secured 17 Electron launch contracts in Q3 2025, a record for dedicated launch contracts, and is on track to achieve 20+ launches by year-end.
Strategic activities included the acquisition of Geost for up to $325 million and exiting the quarter with over $1 billion in liquidity.
For the fourth quarter of 2025, Rocket Lab expects revenue between $170 million and $180 million and GAAP Gross Margins between 37% and 39%.

Nov 10, 2025, 9:15 PM

Press Release

Rocket Lab Successfully Deploys Satellite for iQPS

RKLB

Product Launch

New Projects/Investments

Rocket Lab successfully completed its 74th Electron mission on November 5, 2025, deploying the latest satellite for Institute for Q-shu Pioneers of Space, Inc. (iQPS).
This mission marks Rocket Lab's 16th Electron launch in 2025, matching its previous record high for yearly launches set in 2024.
The company has signed an agreement for six additional dedicated iQPS missions and is preparing for the debut launch of its medium-lift reusable Neutron rocket.

Nov 5, 2025, 9:45 PM

Press Release

Rocket Lab Successfully Launches 15th Mission of the Year for Synspective

RKLB

Product Launch

New Projects/Investments

Guidance Update

Rocket Lab successfully completed its 15th mission of the year on October 14, 2025, deploying the seventh StriX satellite for Synspective.
This mission marks the first of 21 new dedicated Electron launches for Synspective scheduled between now and the end of the decade, making Electron the primary launcher for their constellation with a total of 27 missions.
The company expects to surpass its 2024 annual launch record of 16 launches and forecasts 20+ launches in 2025.

Oct 14, 2025, 6:26 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Rocket Lab.

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