Rocket Lab Reports Mixed Q2 Earnings, Company Says It's On Track For 'Record Year' Of Launches, Spacecraft Delivery

Rocket Lab Corp RKLB reported second-quarter financial results after the market close on Thursday. Here’s a rundown of the report.

Q2 Earnings: Rocket Lab’s second-quarter revenue came in at $144.5 million, beating the consensus estimate of $134.53 million. The end-to-end space company reported a second-quarter loss of 13 cents per share, missing analyst estimates for a loss of 11 cents per share, according to Benzinga Pro.

Total revenue was up 36% year-over-year after the company successfully launched five Electron missions in the second quarter. The space company ended the quarter with approximately $564.08 million in cash and cash equivalents.

“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,” said Peter Beck, founder and CEO of Rocket Lab.

“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.”

Outlook: Rocket Lab expects third-quarter revenue to be between $145 million and $155 million versus estimates of $148.9 million. The company anticipates an adjusted EBITDA loss of $21 million to $23 million in the third quarter.

Rocket Lab said it’s made steady progress on its Neutron rocket with Launch Complex 3 “largely complete” and flight hardware currently being transported to the location for first launch. Launch Complex 3’s official opening has been scheduled for Aug. 28.

Rocket Lab executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.

RKLB Price Action: Rocket Lab shares were down 1.36% in after-hours Thursday, trading at $43.61 at the time of publication, according to Benzinga Pro.

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