The earnings call highlighted Rocket Lab's strong revenue growth and strategic acquisitions, particularly in the space systems segment. However, challenges remain with high R&D expenses and negative cash flow due to ongoing Neutron development. The focus on building out capabilities and expanding market opportunities provides a balanced outlook.

Company Guidance -

Q3 2025

During Rocket Lab's Q2 2025 earnings call, the company reported a record revenue of $144.5 million, a 36% increase year-over-year, exceeding their prior guidance. The GAAP gross margin expanded beyond expectations to 32.1%. The Space Systems segment contributed $97.9 million, while the Launch Services segment added $6.6 million. The company ended the quarter with approximately $1 billion in total backlog, with 41% from launch services and 59% from space systems. Rocket Lab is progressing with its acquisition of Geost, aiming to enhance its status as a comprehensive provider for national security. The company is also advancing its Neutron launch vehicle, expecting an end-of-year launch, and plans to build three vehicles next year. The Q3 2025 revenue guidance is set between $145 million and $155 million, with GAAP gross margins expected to improve to 35%-37%. Rocket Lab projects a continued elevated cash consumption due to Neutron development, with a focus on future operational scalability.

Record Revenue Achievement

Rocket Lab reported a record revenue of $144.5 million for Q2 2025, which was above the high end of prior guidance and represented a 36% increase year-over-year.

Successful Launch Operations

Electron completed 5 launches in the quarter, including a record turnaround with two launches in two days. The company is on track for 20 or more launches by the end of the year.

Strategic Acquisition

The acquisition of Geost, a maker of missile tracking satellites, is nearing completion, bolstering Rocket Lab's position as a comprehensive provider for national security.

Strong Space Systems Performance

Space Systems segment delivered $97.9 million in revenue for Q2 2025, a 12.5% sequential increase, driven by higher-margin component sales.

Positive Backlog and Future Outlook

Rocket Lab ended Q2 2025 with approximately $1 billion in total backlog, with launch and space systems contributing 41% and 59%, respectively. The company sees strong demand signals across its business.

Rocket Lab USA (RKLB) Earnings, Revenues Date & History

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RKLB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 18, 2025	2025 (Q3)	-0.08 / -	-0.1	―	―	―
Aug 07, 2025	2025 (Q2)	-0.10 / -0.13	-0.08	-62.50% (-0.05)
May 08, 2025	2025 (Q1)	-0.11 / -0.12	-0.057	-110.53% (-0.06)
Feb 27, 2025	2024 (Q4)	-0.09 / -0.10	-0.079	-26.58% (-0.02)
Nov 12, 2024	2024 (Q3)	-0.09 / -0.10	-0.051	-96.08% (-0.05)
Aug 08, 2024	2024 (Q2)	-0.08 / -0.08	-0.057	-40.35% (-0.02)
May 06, 2024	2024 (Q1)	-0.09 / -0.06	-0.063	9.52% (<+0.01)
Feb 27, 2024	2023 (Q4)	-0.08 / -0.08	-0.08	1.25% (<+0.01)
Nov 08, 2023	2023 (Q3)	-0.05 / -0.05	-0.07	27.14% (+0.02)
Aug 08, 2023	2023 (Q2)	-0.07 / -0.06	-0.04	-42.50% (-0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RKLB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$44.21	$44.69	+1.09%
May 08, 2025	$23.10	$20.51	-11.21%
Feb 27, 2025	$19.83	$20.49	+3.33%
Nov 12, 2024	$14.66	$18.83	+28.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.