Financial Data and Key Metrics Changes - The company reported a record revenue of $155 million for Q3 2025, reflecting a year-over-year growth of 48% and a sequential increase of 7.3% [5][30] - GAAP gross margin for Q3 was 37%, at the high end of prior guidance, while non-GAAP gross margin was 41.9%, exceeding previous expectations [31][39] - The company ended Q3 with a total backlog of approximately $1.1 billion, with launch backlog accounting for about 47% and space systems for 53% [32] Business Line Data and Key Metrics Changes - The Space Systems segment generated $114.2 million in revenue, a sequential increase of 16.7%, driven by strong performance in satellite manufacturing [30] - The Launch Services segment reported $40.9 million in revenue, a decline of 12.3% quarter-over-quarter due to fewer launches caused by customer spacecraft delivery delays [31] Market Data and Key Metrics Changes - The company secured 17 dedicated launches in Q3, indicating strong demand for the Electron launch vehicle, particularly from international customers [9][30] - The company is seeing a shift in space agencies standardizing on the Electron as a preferred launch platform, enhancing its market position [45] Company Strategy and Development Direction - The company aims to maintain its position as a leading end-to-end space company, focusing on scaling products and services across launch and space systems [8][12] - The company is actively pursuing M&A opportunities, with over $1 billion in liquidity available for strategic acquisitions [12][38] - The company is committed to a rigorous testing and qualification process for the Neutron rocket, prioritizing reliability and safety over speed to market [29][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for Electron and the ability to meet this demand due to in-house production capabilities [46] - The company anticipates a strong return to sequential revenue growth in the Launch Services segment in Q4, supported by a busy launch manifest [31][40] - Management highlighted the importance of maintaining a disciplined approach to acquisitions and integration to enhance competitive capabilities [13][39] Other Important Information - The company is preparing for the first flight of the Neutron rocket in Q1 2026, with a focus on thorough testing to ensure readiness [18][29] - The company has made significant investments in infrastructure and development, with capital expenditures expected to remain elevated as it approaches Neutron's first flight [36][38] Q&A Session Summary Question: Can you provide insights on the recent strong bookings and backlog for launches? - Management noted that the bookings included both commercial and government contracts, with space agencies increasingly standardizing on the Electron platform [45] Question: How is the supply chain positioned to meet demand for Electron? - Management indicated that over 90% of Electron is built in-house, minimizing supply chain challenges [46] Question: Can you clarify the one-time events affecting launch gross margins? - Management explained that the changes were due to contract terms and the transition to over-time revenue recognition for certain missions, which provided a more stable revenue contribution [47][49] Question: What is the revenue recognition timeline for the SDA Tranche 2 award? - Management confirmed that revenue recognition is on track, with a pattern of 10% in the first year and 40% in subsequent years [52][54] Question: What is the expected launch cadence for Neutron after its first flight? - Management stated that the cadence will depend on the success of the first flight, with a potential for three launches within a 12-month window thereafter [56][58] Question: How soon after Neutron arrives at the complex can it realistically launch? - Management indicated that the timeline will depend on the results of pre-launch tests, with a quick turnaround possible if all tests are successful [70][71]

Financial Data and Key Metrics Changes - Rocket Lab reported a record revenue of $155 million for Q3 2025, reflecting a year-over-year growth of 48% and a sequential increase of 7.3% [5][30] - GAAP gross margin for Q3 was 37%, at the high end of prior guidance, while non-GAAP gross margin was 41.9%, exceeding previous expectations [31][32] - The company ended Q3 with approximately $1.1 billion in total backlog, with launch backlog accounting for about 47% and space systems representing 53% [32] Business Line Data and Key Metrics Changes - The Space Systems segment generated $114.2 million in revenue, a sequential increase of 16.7%, driven by strong performance in satellite manufacturing [30][31] - The Launch Services segment reported $40.9 million in revenue, a decline of 12.3% quarter-over-quarter due to fewer launches caused by customer spacecraft delivery delays [31] Market Data and Key Metrics Changes - Rocket Lab secured 17 new Electron launch contracts in Q3, indicating strong demand, particularly from international customers [9][30] - The company is seeing increased interest from space agencies, which are beginning to standardize on Electron as a preferred launch platform [45] Company Strategy and Development Direction - Rocket Lab aims to maintain its position as a leading end-to-end space company, focusing on scaling products and services across launch and space systems [8][12] - The company is actively pursuing M&A opportunities, with over $1 billion in liquidity available for strategic acquisitions [12][38] - The development of Neutron is a key focus, with the first launch targeted for Q1 2026, emphasizing a rigorous testing and qualification process [18][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet demand for Electron, citing a robust in-house manufacturing capability [46] - The company anticipates a strong return to sequential revenue growth in the Launch Services segment in Q4 2025, driven by a busy launch manifest [31][40] - Management remains optimistic about the potential for future contracts, particularly in national security and defense sectors, following the GEOS acquisition [80] Other Important Information - The company is experiencing elevated capital expenditures due to ongoing investments in Neutron development and infrastructure expansion [36][38] - GAAP EPS for Q3 was a loss of $0.03 per share, an improvement from a loss of $0.13 per share in the previous quarter, primarily due to a $41 million tax benefit [37] Q&A Session Summary Question: Can you share insights on the recent strong bookings and backlog for launches? - Management noted that the increase in backlog includes both strong commercial bookings and interest from space agencies, indicating a shift towards Electron as a preferred platform [45] Question: How is the supply chain positioned to meet demand for Electron? - Management stated that over 90% of Electron is built in-house, minimizing supply chain challenges [46] Question: Can you clarify the one-time events affecting launch gross margins? - Management explained that the changes in revenue recognition for HASTE missions contributed to the margin fluctuations, with strong contract terms providing protection against cancellations [47][48] Question: What is the revenue recognition timeline for the SDA Tranche 2 award? - Management confirmed that revenue recognition is on track, with a pattern of 10% in the first year and 40% in subsequent years [52][53] Question: What is the expected launch cadence for Neutron after its first flight? - Management indicated that the launch cadence would be assessed after the first flight, with a potential for three launches in the first year depending on the timing [56][58] Question: How does the GEOS acquisition impact national security defense opportunities? - Management highlighted that the acquisition has significantly enhanced relationships within the national security sector, allowing for deeper mission discussions and opportunities [80]

03-2025 INFESTOR UPDATE Sir Peter Beck, CEO Adam Spice, CFO November 10, 2025 ROCKETLAB Forward Looking Statements This presentation may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this presentation, including statements regarding our expec ...

Rocket Lab (NASDAQ: RKLB) beat on both revenue and earnings in Q3 while posting record gross margins, sending the stock surging 8.3% in after-hours trading. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _________________________________________________________ FORM 10-Q _________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________to Commissio ...

MEDIA RELEASE Exhibit 99.1 Rocket Lab Announces Third Quarter 2025 Financial Results, Posts Record Quarterly Revenue of $155m, Representing 48% Year-on-Year Growth at Record Gross Margins Long Beach, California. November 10, 2025 – 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 third quarter ended September 30, 2025. Rocket Lab founder and CEO, Sir Peter Beck, said: ...

Core Insights - Rocket Lab Corporation reported record revenue of $155 million for the fiscal third quarter ended September 30, 2025, with a GAAP gross margin of 37% [2][3] - The company is on track to achieve a new annual launch record, with a strong backlog of contracts and strategic M&A activities aligned with defense programs [2][7] Financial Performance - Total revenues for Q3 2025 were $155.08 million, compared to $104.81 million in Q3 2024, representing a year-over-year increase of approximately 48% [13] - Gross profit for Q3 2025 was $57.31 million, up from $27.99 million in Q3 2024, indicating a significant improvement in profitability [13] - The net loss for Q3 2025 was $18.26 million, compared to a net loss of $51.94 million in Q3 2024, showing a reduction in losses [13] Operational Highlights - Rocket Lab secured 17 Electron launch contracts in Q3 2025, marking a record-breaking quarter for dedicated launch contracts [7] - The company successfully launched two back-to-back HASTE missions, contributing to advancements in hypersonic technology [7] - The acquisition of Geost for up to $325 million enhances Rocket Lab's capabilities in national security [7] Fourth Quarter Guidance - For Q4 2025, Rocket Lab expects revenue between $170 million and $180 million, with GAAP gross margins projected between 37% and 39% [7] - Non-GAAP gross margins are anticipated to be between 43% and 45% [7] Liquidity and Capital Position - Rocket Lab exited Q3 2025 with over $1 billion in liquidity, bolstered by a recent at-the-market offering program [7] - The company is well-positioned to pursue its robust M&A pipeline [7] Future Developments - The Neutron rocket is scheduled to arrive at Launch Complex 3 in Q1 2026, with the first launch expected thereafter [7] - The company continues to focus on expanding its end-to-end capabilities in the space sector, particularly in defense and national security [2][7]

Earnings Reports Overview - The earnings season is slowing down, but several retail-favorite companies are set to report this week [1] - Key companies reporting include Barrick Mining Corp., Plug Power Inc., Oklo Inc., Cisco Systems Inc., Walt Disney Co., and Applied Materials Inc. [2][3][5][10][11] Company-Specific Insights - Barrick Mining Corp. reported its third-quarter results before the market opened on November 10 [2] - Plug Power Inc. is expected to report losses of 12 cents per share and revenue of $179.54 million, having missed earnings expectations for the last 18 quarters [3] - Oklo Inc. is anticipated to report losses of 13 cents per share and revenue of $17.01 billion, with stock volatility noted ahead of the report [5] - Cisco Systems Inc. is expected to be a focal point for investors, particularly regarding management's guidance and updates on AI and cybersecurity business momentum [10] - Walt Disney Co. and JD.com Inc. will release earnings reports before the market opens on November 13 [11] - Applied Materials Inc. is set to release its Q4 results after the market closes on November 13 [11] Additional Companies Reporting - Other companies reporting this week include Workhorse Group Inc., Beyond Meat Inc., Microvision Inc., and Virgin Galactic Holdings Inc. [4][6][12]

Core Insights - Rocket Lab is set to announce its earnings results, with analysts expecting a revenue growth of 45% year on year to $151.9 million, a slowdown from the previous year's 54.9% increase [2] - The company reported revenues of $144.5 million last quarter, exceeding analysts' expectations by 7% and showing a year-on-year growth of 36% [1] - Rocket Lab has missed Wall Street's revenue estimates twice in the past two years, but analysts have generally reconfirmed their estimates leading into the upcoming earnings [3] Revenue Expectations - Analysts anticipate Rocket Lab's revenue for the upcoming quarter to be $151.9 million, reflecting a 45% year-on-year growth [2] - The adjusted loss per share is expected to be -$0.06 [2] Peer Performance - In the aerospace segment, Howmet reported a year-on-year revenue growth of 13.8%, beating expectations, while Astronics reported a 3.8% increase, in line with estimates [4] - Howmet's stock rose by 1.1% post-results, whereas Astronics saw a decline of 1.1% [4] Market Sentiment - The aerospace sector has experienced positive sentiment, with average share prices up 2.2% over the last month [5] - In contrast, Rocket Lab's stock has decreased by 18.3% during the same period, with an average analyst price target of $59.50 compared to its current share price of $52.48 [5]

Core Viewpoint - Baillie Gifford's Q3 2025 investment strategy reflects a focus on long-term growth, with significant new positions in cryptocurrency and aerospace, while reducing exposure to certain high-valuation tech stocks [1][5]. New Positions and Significant Increases - Baillie Gifford added 19 new stocks in Q3 2025, with the most notable being Coinbase (COIN), acquiring over 587,000 shares, representing 0.15% of its portfolio [1]. - Another significant addition was Knife River Holding Co (KNF), with nearly 2.19 million shares purchased, valued at approximately $169 million, accounting for 0.13% of the portfolio [1]. Major Increases - The firm significantly increased its position in Rocket Lab (RKLB) by 176.15%, adding over 7.73 million shares, aligning with its investment strategy in disruptive innovation [2]. - Other important increases included The Ensign Group (ENSG), with a 96.2% increase, focusing on healthcare services [3]. Major Reductions - Baillie Gifford completely exited 18 stocks and significantly reduced positions in 188 stocks, indicating a strategic shift [3]. - A notable reduction was in Cloudflare (NET), where approximately 3.68 million shares were sold, a decrease of 14.4%, impacting the portfolio by -0.54% [3]. - Other key reductions included Spotify Technology SA (SPOT) with a 9.7% decrease (approximately 930,000 shares) and Shopify (SHOP) with a 6.1% decrease (approximately 890,000 shares) [4]. Investment Insights and Summary - The overall strategy of Baillie Gifford in Q3 2025 illustrates a "survival of the fittest" approach, focusing on future growth [5]. - The investment portfolio consists of 264 stocks, with the top five holdings being NVDA (6.43%), MELI (5.74%), SE (5.31%), AMZN (5.15%), and SPOT (4.5%) [5]. - The offensive strategy includes bold bets on frontier technologies like cryptocurrency (Coinbase) and aerospace (Rocket Lab), while the defensive strategy involves profit-taking on overvalued or stabilizing growth tech stocks [5].