Earnings Release
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) (“Rocket Lab”, “the Company”, “we,” “us,” or “our”), 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: “Rocket 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’s also been a busy quarter of M&A activity as we’ve 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’re 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.
“On the launch side of the business, with five flawless missions executed, Electron maintains its leadership position as the world’s leading small orbital rocket with a rising launch cadence and increasing international demand for its services. We’ve 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 – bringing us closer to delivering disruptive competition to the launch industry for our commercial and national security customers.”
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 – a new record from Rocket Lab Launch Complex 1. Another successful launch this week brings Rocket Lab’s total Electron launch count to 69.
- New Electron launch contracts with international space agencies, reflecting the strength of Rocket Lab’s global reputation as a trusted launch provider for both the U.S. and its allies.
- Confirmed Rocket Lab’s Launch Complex 3 - the launch, test, and landing site for its reusable Neutron rocket – 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’s 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’s $515 million constellation build of 18 spacecraft for the Space Development Agency’s Tranche 2 Transport Layer, following the Agency’s confirmation that Rocket Lab’s 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 “Use of Non-GAAP Financial Measures” 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’s Investor Relations website: https://investors.rocketlabcorp.com/
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’s 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’s 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 www.rocketlabcorp.com.
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 “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 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 “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” 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 “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.investors.rocketlabcorp.com, 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’s 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 (“GAAP”) 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.
ROCKET LAB CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (unaudited; in thousands, except share and per share data) |
| | | |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| | 2025 | | | | 2024 | | | | 2025 | | | | 2024 | |
Revenues: | | | | | | | |
Product revenues | $ | 92,725 | | | $ | 72,283 | | | $ | 173,529 | | | $ | 126,429 | |
Service revenues | | 51,773 | | | | 33,968 | | | | 93,538 | | | | 72,589 | |
Total revenues | | 144,498 | | | | 106,251 | | | | 267,067 | | | | 199,018 | |
Cost of revenues: | | | | | | | |
Cost of product revenues | | 61,692 | | | | 53,940 | | | | 115,561 | | | | 94,767 | |
Cost of service revenues | | 36,418 | | | | 25,149 | | | | 69,871 | | | | 52,915 | |
Total cost of revenues | | 98,110 | | | | 79,089 | | | | 185,432 | | | | 147,682 | |
Gross profit | | 46,388 | | | | 27,162 | | | | 81,635 | | | | 51,336 | |
Operating expenses: | | | | | | | |
Research and development, net | | 66,134 | | | | 39,912 | | | | 121,243 | | | | 78,416 | |
Selling, general and administrative | | 39,893 | | | | 30,524 | | | | 79,219 | | | | 59,273 | |
Total operating expenses | | 106,027 | | | | 70,436 | | | | 200,462 | | | | 137,689 | |
Operating loss | | (59,639 | ) | | | (43,274 | ) | | | (118,827 | ) | | | (86,353 | ) |
Other income (expense): | | | | | | | |
Interest expense, net | | (2,371 | ) | | | (824 | ) | | | (4,957 | ) | | | (1,722 | ) |
(Loss) gain on foreign exchange | | (489 | ) | | | (286 | ) | | | (623 | ) | | | 25 | |
Other (expense) income, net | | (977 | ) | | | 1,893 | | | | (498 | ) | | | 1,304 | |
Total other (expense) income, net | | (3,837 | ) | | | 783 | | | | (6,078 | ) | | | (393 | ) |
Loss before income taxes | | (63,476 | ) | | | (42,491 | ) | | | (124,905 | ) | | | (86,746 | ) |
(Provision) benefit for income taxes | | (2,938 | ) | | | 860 | | | | (2,125 | ) | | | 855 | |
Net loss | $ | (66,414 | ) | | $ | (41,631 | ) | | $ | (127,030 | ) | | $ | (85,891 | ) |
Net loss per share attributable to Rocket Lab Corporation: | | | | | | | |
Basic and diluted | $ | (0.13 | ) | | $ | (0.08 | ) | | $ | (0.25 | ) | | $ | (0.17 | ) |
Weighted-average common shares outstanding: | | | | | | | |
Basic and diluted | | 515,086,631 | | | | 494,190,708 | | | | 510,376,584 | | | | 492,092,709 | |
| | | | | | | | | | | | | | | |
ROCKET LAB CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2025 AND DECEMBER 31, 2024 (unaudited; in thousands, except share and per share data) |
| | | |
| June 30, 2025
(unaudited) | | December 31,
2024 |
Assets | | | |
Current assets: | | | |
Cash and cash equivalents | $ | 564,081 | | | $ | 271,042 | |
Marketable securities, current | | 124,055 | | | | 147,948 | |
Accounts receivable, net | | 61,783 | | | | 36,440 | |
Contract assets | | 51,922 | | | | 63,108 | |
Inventories | | 130,232 | | | | 119,074 | |
Prepaids and other current assets | | 74,011 | | | | 55,009 | |
Total current assets | | 1,006,084 | | | | 692,621 | |
Non-current assets: | | | |
Property, plant and equipment, net | | 249,770 | | | | 194,838 | |
Intangible assets, net | | 53,922 | | | | 58,637 | |
Goodwill | | 71,020 | | | | 71,020 | |
Right-of-use assets - operating leases | | 70,664 | | | | 53,664 | |
Right-of-use assets - finance leases | | 14,147 | | | | 14,396 | |
Marketable securities, non-current | | 61,163 | | | | 60,686 | |
Restricted cash | | 4,907 | | | | 4,260 | |
Deferred income tax assets, net | | 2,097 | | | | 3,010 | |
Other non-current assets | | 19,459 | | | | 31,210 | |
Total assets | $ | 1,553,233 | | | $ | 1,184,342 | |
Liabilities and Stockholders’ Equity | | | |
Current liabilities: | | | |
Trade payables | $ | 71,005 | | | $ | 53,059 | |
Accrued expenses | | 23,200 | | | | 19,460 | |
Employee benefits payable | | 23,888 | | | | 20,847 | |
Contract liabilities | | 223,432 | | | | 216,160 | |
Current installments of long-term borrowings | | 16,503 | | | | 12,045 | |
Other current liabilities | | 18,425 | | | | 17,954 | |
Total current liabilities | | 376,453 | | | | 339,525 | |
Non-current liabilities: | | | |
Convertible senior notes, net | | 346,466 | | | | 345,392 | |
Long-term borrowings, net, excluding current installments | | 53,720 | | | | 44,049 | |
Non-current operating lease liabilities | | 66,626 | | | | 51,965 | |
Non-current finance lease liabilities | | 14,820 | | | | 14,970 | |
Deferred tax liabilities | | 1,183 | | | | 891 | |
Other non-current liabilities | | 5,480 | | | | 5,097 | |
Total liabilities | | 864,748 | | | | 801,889 | |
COMMITMENTS AND CONTINGENCIES | | | |
Stockholders’ equity: | | | |
Preferred stock, $0.0001 par value; authorized shares: 100,000,000; issued and outstanding shares: 45,951,250 and 0 at June 30, 2025 and December 31, 2024, respectively | | 5 | | | | — | |
Common stock, $0.0001 par value; authorized shares: 2,500,000,000; issued shares: 525,277,899 and 504,453,785 at June 30, 2025 and December 31, 2024, respectively; outstanding shares: 479,326,649 and 504,453,785 at June 30, 2025 and December 31, 2024, respectively | | 48 | | | | 50 | |
Treasury stock, at cost; shares: 45,951,250 and 0 at June 30, 2025 and December 31, 2024, respectively | | — | | | | — | |
Additional paid-in capital | | 1,628,458 | | | | 1,198,909 | |
Accumulated deficit | | (940,731 | ) | | | (813,701 | ) |
Accumulated other comprehensive income (loss) | | 705 | | | | (2,805 | ) |
Total stockholders’ equity | | 688,485 | | | | 382,453 | |
Total liabilities and stockholders’ equity | $ | 1,553,233 | | | $ | 1,184,342 | |
| | | | | | | |
ROCKET LAB CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (unaudited; in thousands) |
| |
| For the Six Months Ended June 30, |
| | 2025 | | | | 2024 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | |
Net loss | $ | (127,030 | ) | | $ | (85,891 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | | | |
Depreciation and amortization | | 17,465 | | | | 16,421 | |
Stock-based compensation expense | | 37,167 | | | | 27,048 | |
Loss (gain) on disposal of assets | | 1,503 | | | | (1,192 | ) |
Loss on extinguishment of long-term debt | | — | | | | 1,330 | |
Amortization of debt issuance costs and discount | | 1,691 | | | | 1,454 | |
Noncash lease expense | | 3,565 | | | | 2,959 | |
Change in the fair value of contingent consideration | | — | | | | (218 | ) |
Accretion of marketable securities purchased at a discount | | (1,099 | ) | | | (1,605 | ) |
Deferred income taxes | | 1,454 | | | | 2,000 | |
Changes in operating assets and liabilities: | | | |
Accounts receivable, net | | (25,317 | ) | | | (15,420 | ) |
Contract assets | | 11,193 | | | | (5,793 | ) |
Inventories | | (11,513 | ) | | | 2,530 | |
Prepaids and other current assets | | (18,037 | ) | | | (4,638 | ) |
Other non-current assets | | 11,879 | | | | (5,289 | ) |
Trade payables | | 11,149 | | | | (1,930 | ) |
Accrued expenses | | 4,024 | | | | 6,566 | |
Employee benefits payables | | 3,289 | | | | (1,064 | ) |
Contract liabilities | | 7,217 | | | | 44,718 | |
Other current liabilities | | 98 | | | | 4,222 | |
Non-current lease liabilities | | (6,547 | ) | | | (2,860 | ) |
Other non-current liabilities | | 382 | | | | 1,064 | |
Net cash used in operating activities | | (77,467 | ) | | | (15,588 | ) |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | |
Purchases of property, equipment and software | | (60,719 | ) | | | (34,521 | ) |
Proceeds on disposal of assets, net | | 144 | | | | 10,815 | |
Purchases of marketable securities | | (128,325 | ) | | | (113,274 | ) |
Maturities of marketable securities | | 149,495 | | | | 73,883 | |
Sale of marketable securities | | 3,383 | | | | — | |
Net cash used in investing activities | | (36,022 | ) | | | (63,097 | ) |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | |
Proceeds from ATM Equity Offering | | 396,647 | | | | — | |
Issuance costs related to ATM Equity Offering | | (9,496 | ) | | | — | |
Proceeds from the exercise of stock options | | 379 | | | | 1,159 | |
Proceeds from Employee Stock Purchase Plan | | 4,836 | | | | 2,665 | |
Proceeds from sale of employees restricted stock units to cover taxes | | 40,715 | | | | 9,270 | |
Minimum tax withholding paid on behalf of employees for restricted stock units | | (40,421 | ) | | | (9,479 | ) |
Purchase of capped calls related to issuance of convertible senior notes | | — | | | | (43,168 | ) |
Proceeds from issuance of convertible senior notes | | — | | | | 355,000 | |
Proceeds from secured term loan | | 25,000 | | | | — | |
Repayments on secured term loan | | (11,208 | ) | | | (45,822 | ) |
Payment of debt issuance costs | | (278 | ) | | | (12,205 | ) |
Finance lease principal payments | | (126 | ) | | | (477 | ) |
Net cash provided by financing activities | | 406,048 | | | | 256,943 | |
Effect of exchange rate changes on cash and cash equivalents | | 1,127 | | | | (141 | ) |
Net increase in cash and cash equivalents and restricted cash | | 293,686 | | | | 178,117 | |
Cash and cash equivalents, and restricted cash, beginning of period | | 275,302 | | | | 166,434 | |
Cash and cash equivalents, and restricted cash, end of period | $ | 568,988 | | | $ | 344,551 | |
| | | | | | | |
ROCKET LAB CORPORATION AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (unaudited; in thousands) |
|
The tables provided below reconcile the non-GAAP financial measures Adjusted EBITDA, Non-GAAP gross profit, Non-GAAP research and development, net, Non-GAAP selling, general and administrative, Non-GAAP operating expenses, Non-GAAP operating loss and Non-GAAP total other income (expense), net with the most directly comparable GAAP financial measures. See above for additional information on the use of these non-GAAP financial measures. |
| | | |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| 2025 | | | | 2024 | | | | 2025 | | | | 2024 | |
NET LOSS | $ | (66,414 | ) | | $ | (41,631 | ) | | $ | (127,030 | ) | | $ | (85,891 | ) |
Depreciation | | 5,882 | | | | 4,796 | | | | 11,571 | | | | 9,720 | |
Amortization | | 2,876 | | | | 3,312 | | | | 5,894 | | | | 6,701 | |
Stock-based compensation expense | | 17,933 | | | | 13,955 | | | | 37,167 | | | | 27,048 | |
Transaction costs | | 5,008 | | | | 12 | | | | 6,386 | | | | 384 | |
Interest expense, net | | 2,371 | | | | 824 | | | | 4,957 | | | | 1,722 | |
Change in fair value of contingent consideration | | — | | | | 53 | | | | — | | | | (218 | ) |
Provision (benefit) for income taxes | | 2,938 | | | | (860 | ) | | | 2,125 | | | | (855 | ) |
Loss (gain) on foreign exchange | | 489 | | | | 286 | | | | 623 | | | | (25 | ) |
Accretion of marketable securities and cash equivalents purchased at a discount | | (672 | ) | | | (764 | ) | | | (1,257 | ) | | | (1,606 | ) |
Loss (gain) on disposal of assets | | 1,490 | | | | (1,195 | ) | | | 1,503 | | | | (1,192 | ) |
Employee retention credit | | 515 | | | | — | | | | 515 | | | | — | |
Loss on extinguishment of debt | | — | | | | — | | | | — | | | | 1,330 | |
ADJUSTED EBITDA | $ | (27,584 | ) | | $ | (21,212 | ) | | $ | (57,546 | ) | | $ | (42,882 | ) |
| | | | | | | | | | | | | | | |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| 2025 | | | | 2024 | | | | 2025 | | | | 2024 | |
GAAP Gross profit | $ | 46,388 | | | $ | 27,162 | | | $ | 81,635 | | | $ | 51,336 | |
Stock-based compensation | | 4,892 | | | | 3,673 | | | | 8,812 | | | | 7,176 | |
Amortization of purchased intangibles and favorable lease | | 1,823 | | | | 1,741 | | | | 3,646 | | | | 3,484 | |
Employee retention credit | | 278 | | | | — | | | | 278 | | | | — | |
Non-GAAP Gross profit | $ | 53,381 | | | $ | 32,576 | | | $ | 94,371 | | | $ | 61,996 | |
Non-GAAP Gross margin | | 36.9 | % | | | 30.7 | % | | | 35.3 | % | | | 31.2 | % |
| | | | | | | |
GAAP Research and development, net | $ | 66,134 | | | $ | 39,912 | | | $ | 121,243 | | | $ | 78,416 | |
Stock-based compensation | | (5,573 | ) | | | (5,049 | ) | | | (10,467 | ) | | | (9,034 | ) |
Amortization of purchased intangibles and favorable lease | | (164 | ) | | | (155 | ) | | | (329 | ) | | | (384 | ) |
Employee retention credit | | (88 | ) | | | — | | | | (88 | ) | | | — | |
Non-GAAP Research and development, net | $ | 60,309 | | | $ | 34,708 | | | $ | 110,359 | | | $ | 68,998 | |
| | | | | | | |
GAAP Selling, general and administrative | $ | 39,893 | | | $ | 30,524 | | | $ | 79,219 | | | $ | 59,273 | |
Stock-based compensation | | (7,468 | ) | | | (5,233 | ) | | | (17,888 | ) | | | (10,838 | ) |
Amortization of purchased intangibles and favorable lease | | (628 | ) | | | (1,382 | ) | | | (1,404 | ) | | | (2,314 | ) |
Transaction costs | | (5,008 | ) | | | (12 | ) | | | (6,386 | ) | | | (384 | ) |
Change in fair value of contingent consideration | | — | | | | (53 | ) | | | — | | | | 218 | |
Employee retention credit | | (149 | ) | | | — | | | | (149 | ) | | | — | |
Non-GAAP Selling, general and administrative | $ | 26,640 | | | $ | 23,844 | | | $ | 53,392 | | | $ | 45,955 | |
| | | | | | | |
GAAP Operating expenses | $ | 106,027 | | | $ | 70,436 | | | $ | 200,462 | | | $ | 137,689 | |
Stock-based compensation | | (13,041 | ) | | | (10,282 | ) | | | (28,355 | ) | | | (19,872 | ) |
Amortization of purchased intangibles and favorable lease | | (792 | ) | | | (1,537 | ) | | | (1,733 | ) | | | (2,698 | ) |
Transaction costs | | (5,008 | ) | | | (12 | ) | | | (6,386 | ) | | | (384 | ) |
Change in fair value of contingent consideration | | — | | | | (53 | ) | | | — | | | | 218 | |
Employee retention credit | | (237 | ) | | | — | | | | (237 | ) | | | — | |
Non-GAAP Operating expenses | $ | 86,949 | | | $ | 58,552 | | | $ | 163,751 | | | $ | 114,953 | |
| | | | | | | |
GAAP Operating loss | $ | (59,639 | ) | | $ | (43,274 | ) | | $ | (118,827 | ) | | $ | (86,353 | ) |
Total non-GAAP adjustments | | 26,071 | | | | 17,298 | | | | 49,447 | | | | 33,396 | |
Non-GAAP Operating loss | $ | (33,568 | ) | | $ | (25,976 | ) | | $ | (69,380 | ) | | $ | (52,957 | ) |
| | | | | | | |
GAAP Total other expense, net | $ | (3,837 | ) | | $ | 783 | | | $ | (6,078 | ) | | $ | (393 | ) |
Loss (gain) on foreign exchange | | 489 | | | | 286 | | | | 623 | | | | (25 | ) |
Loss (gain) on disposal of assets | | 1,490 | | | | (1,195 | ) | | | 1,503 | | | | (1,192 | ) |
Loss on extinguishment of debt | | — | | | | — | | | | — | | | | 1,330 | |
Non-GAAP Total other expense, net | $ | (1,858 | ) | | $ | (126 | ) | | $ | (3,952 | ) | | $ | (280 | ) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250807494185/en/
Rocket Lab Investor Relations Contact
Patrick Vorenkamp
investors@rocketlabusa.com
Rocket Lab Media Contact
Murielle Baker
media@rocketlabusa.com
Source: Rocket Lab Corporation
