Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________ FORM 10-K ______________________________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39560 ...

MEDIA RELEASE Exhibit 99.1 Business Highlights for the Full Year & Fourth Quarter 2024, plus updates since December 31, 2024. Launch: Rocket Lab Announces Full Year & Fourth Quarter 2024 Financial Results, Posts Record Revenue Representing 26% Sequential Growth, 78% Annual Growth and 121% Year-on-Year Quarterly Growth rocketlabusa.com | media@rocketlabusa.com Long Beach, California. February 27, 2025 – Rocket Lab USA, Inc. (Nasdaq: RKLB) ("Rocket Lab", "the Company", "we," "us," or "our"), a global leader i ...

Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud and unlawful business practices by Rocket Lab USA, Inc, following allegations from Bleeker Street Research regarding misleading information about the company's Neutron rocket launch timeline [1][2]. Group 1: Investigation and Allegations - Pomerantz LLP is representing investors in Rocket Lab and is looking into claims of securities fraud or other unlawful practices by the company and its officers [1]. - Bleeker Street Research published a report alleging that Rocket Lab has misled investors about the launch timeline of its Neutron rocket, suggesting a delay of one to two years compared to the company's claims [2]. - The report also criticized the sole announced launch contract with E-Space, describing it as a questionable partnership with a potentially unstable customer [2]. Group 2: Market Reaction - Following the release of the Bleeker Street report, Rocket Lab's stock price dropped by $2.21, or 9.83%, closing at $20.28 per share on February 25, 2025 [2].

Core Insights - Rocket Lab (NASDAQ: RKLB) is positioned as more than just its Electron rocket, which has successfully launched over 170 satellites into orbit, indicating a strong operational track record [1] Group 1: Company Overview - The majority of Rocket Lab's revenue is derived from sources beyond the Electron rocket, suggesting a diversified business model [1] Group 2: Analyst Background - The analyst has extensive experience in private banking, corporate finance, and strategic advisory across multiple continents, including managing cross-border M&A transactions in emerging markets [1]

Core Viewpoint - Rocket Lab USA, Inc. is expected to report its fourth-quarter 2024 results on February 27, 2025, with significant revenue growth anticipated but challenges in profitability due to high operating expenses [1][19]. Revenue Estimates - The Zacks Consensus Estimate for Rocket Lab's revenues is $129.9 million, reflecting a 116.6% increase from the same quarter last year [2]. - The Launch Services segment is projected to generate revenues of $37.5 million, indicating a substantial 343.3% increase year-over-year [9]. - The Space Systems segment is expected to report revenues of $92.37 million, representing a 79.3% growth compared to the previous year [10]. Earnings Projections - The consensus estimate for the bottom line is a loss of 10 cents per share, unchanged from the prior-year quarter [2]. - Rocket Lab has a history of earnings surprises, beating estimates in three of the last four quarters with an average surprise of 9.04% [3]. Operating Expenses and Profitability - Higher operating expenses, driven by increased staff costs and IT infrastructure spending, may negatively impact operating margins and overall earnings [11]. - The company anticipates continued increases in operating expenses, which could hinder profitability if revenue growth does not keep pace [18]. Stock Performance and Valuation - Rocket Lab's stock has increased by 330.5% over the past year, outperforming the aerospace-defense industry, which declined by 5.9% [12]. - The forward 12-month price-to-sales (P/S) ratio for Rocket Lab is 16.31X, significantly higher than the industry average of 1.58X, indicating a premium valuation [13]. Industry Outlook - The global space economy is projected to reach $1.8 trillion by 2035, presenting growth opportunities for Rocket Lab, particularly with its Electron rocket being the second most frequently launched orbital rocket among U.S. companies [16].

Group 1 - The article discusses the potential of Rocket Lab USA, Inc. (NASDAQ: RKLB) as a business venture but highlights that the current market valuation is excessively high, indicating that market expectations have led to a significant premium that may not be justified [1] - Beyond the Wall Investing offers features such as a fundamentals-based portfolio, weekly analysis from institutional investors, short-term trade alerts based on technical signals, and community engagement for investors [1] Group 2 - The article emphasizes that past performance is not indicative of future results and does not provide specific investment recommendations [2] - It clarifies that the analysts contributing to the platform may not be licensed or certified, indicating a diverse range of perspectives from both professional and individual investors [2]

Core Viewpoint - Rocket Lab's stock has significantly declined following a report from Bleecker Street Research, which claims that the launch of Rocket Lab's Neutron vehicle will be delayed much longer than anticipated, potentially until mid-2026 or even mid-2027 [1][3]. Group 1: Stock Performance and Market Reaction - Rocket Lab's stock fell by approximately 10.65% after the release of the short report, indicating a strong market reaction to the news [1]. - The stock had previously surged by 485% over the past year, primarily due to investor excitement surrounding the upcoming Neutron launch [2]. Group 2: Launch Timeline and Development Concerns - Bleecker Street asserts that Rocket Lab has misled investors regarding the timeline for the Neutron rocket, which was initially targeted for a mid-2025 launch [2]. - Conversations with 23 unnamed rocket experts suggest that critical aspects of the rocket's development, including engine production and launch pad construction, are significantly behind schedule [3]. Group 3: Additional Concerns Raised by Bleecker Street - Bleecker Street questions Rocket Lab's customer list and expresses concerns about the pricing strategy for the Neutron rocket, as well as the company's cash reserves and burn rate [4]. - Some of the experts consulted by Bleecker are former Rocket Lab engineers and executives, lending credibility to their claims about the company's challenges [3][4].

Core Insights - Rocket Lab USA achieved record milestones in the aerospace industry last year, becoming the No. 2 launch company in the U.S. for small satellite launches, trailing only SpaceX [1][3] - The company's stock surged 480% over the past year, leading to a high valuation, prompting an analysis of its growth prospects [2][11] Group 1: Business Performance - Rocket Lab successfully completed 16 launches last year, marking a 60% increase compared to 2023, solidifying its position in the small satellite launch market [3] - Revenue grew by 65% to $304 million in the first three quarters of last year, with gross profit more than doubling to $79 million [5] - The company has a backlog of over $1 billion for future launches, indicating strong demand for its services [10] Group 2: Competitive Landscape - Rocket Lab faces significant competition from SpaceX, which completed 134 orbital launches last year, highlighting the disparity in payload capacities between the two companies [6][7] - The Electron rocket can carry up to 660 pounds, while SpaceX's Falcon 9 can carry up to 13,000 kilograms (about 28,600 pounds) [7] Group 3: Future Developments - Rocket Lab is developing the Neutron rocket, which aims to enhance payload capacity to 28,600 pounds, potentially allowing the company to earn $50 million to $55 million per launch [8][9] - The Neutron rocket is expected to launch by mid-2025, with the first engine test completed in August [9] Group 4: Financial Outlook - The stock trades at nearly 38 times trailing-12-month sales, with projections of $605 million in revenue by 2025, but positive earnings per share (EPS) are not expected until 2026 [12] - The company's progress with the Neutron rocket could be a significant inflection point, but delays in launches could impact revenue timing [13]

Core Viewpoint - Despite Rocket Lab's strong execution, the current valuation of $28.30 is deemed unsustainable [1] Financial Analysis - The analysis indicates that Rocket Lab's financial position may not support its current market valuation [1] Market Dynamics - The company is positioned within a competitive market, but the sustainability of its valuation is questioned [1]

Group 1 - Rocket Lab USA, Inc. (NASDAQ: RKLB) stock has been identified as a successful Buy-rated pick, outperforming the broader market since coverage initiation in early November 2024 [1] - The investment analysis is provided by a chief investment analyst at a family office, who specializes in navigating diverse asset classes and extracting critical investment ideas [1] - The investing group Beyond the Wall Investing offers access to high-quality analysis and information prioritized by institutional market participants [1]