Financial Data and Key Metrics - Q1 2024 revenue was $92 8 million, reflecting 69% YoY growth and 55% sequential growth, driven by strong contributions from both business segments [146] - GAAP gross margin for Q1 was 26 1%, slightly above the high end of the prior guidance range of 24% to 26% Non-GAAP gross margin was 31 7%, also above the guidance range of 29% to 31% [11] - GAAP operating expenses for Q1 were $67 3 million, below the low end of the guidance range of $73 million to $75 million Non-GAAP operating expenses were $56 4 million, below the guidance range of $62 million to $64 million [12] - Cash consumed from operations was $2 6 million in Q1 2024, compared to $42 2 million in Q4 2023, driven by improved net income loss and working capital improvements [46] Business Line Data and Key Metrics - Launch Services segment delivered $32 7 million in revenue from four launches, in line with guidance of $32 million to $33 million, representing 287% sequential growth [192] - Space Systems segment delivered just over $60 million in revenue, towards the low end of the guidance range of $60 million to $65 million, reflecting 17% sequential growth [202] - The average selling price per launch was $8 2 million, well above the target of $7 5 million, driven by a favorable mix of government and complex commercial missions [23] - Q1 ending backlog was $1 02 billion, with Launch backlog at $215 6 million and Space Systems backlog at $799 7 million, down 3% sequentially [45] Market Data and Key Metrics - The company completed its fifth launch of the year, a commercial mission for KAIST Institute of South Korea and a scientific mission for NASA, showcasing unique kick stage capabilities [171] - The company is set to launch two missions for NASA in Q2, deploying 25 satellites across five Electron launchers, with a potential fifth launch for a commercial constellation customer [2][3] - The company has a strong launch manifest for 2024, with 22 missions sold, though some movement in the manifest is expected due to customer delays [207] Company Strategy and Industry Competition - The company is focusing on vertical integration, as demonstrated by the VICTUS HAZE mission, which showcases the ability to provide end-to-end mission solutions [208] - The company is investing in the development of the Neutron rocket, with the first Archimedes engine completed and undergoing testing, targeting a first launch no earlier than mid-2025 [209][211] - The company is expanding its space systems capabilities, including a $515 million contract with the Space Development Agency for 18 spacecraft, and a long-term supply agreement for space solar solutions worth up to $150 million [172][198] Management Commentary on Operating Environment and Future Outlook - Management expects Q2 2024 revenue to range between $105 million and $110 million, with $77 million to $81 million from Space Systems and $28 million to $29 million from Launch Services, assuming four launches [194] - The company is on track for a record year for Electron launches, with 2025 also shaping up to be another record year [16] - Management highlighted the importance of the Archimedes engine for Neutron's development, noting that the engine is the primary driver for the schedule adjustment to mid-2025 [36] Other Important Information - The company has completed the first Archimedes engine, which is now undergoing testing at NASA Stennis, marking a significant milestone in Neutron's development [209] - The company has made progress on the Neutron launch complex, with concrete works for the launch mount completed and propellant tanks soon to be delivered [191] - The company has successfully returned an Electron stage to the production line for re-flying, marking a significant step in the reusability program [17] Q&A Session Summary Question: Neutron Development Timeline - The delay in Neutron's first launch to mid-2025 is primarily driven by the engine development, with additional time taken to ensure the engine is production-ready [36][105] - Management emphasized that rocket programs are notoriously difficult to plan, with many unknowns in the development process [36] Question: Electron Launch Manifest - The company has 22 missions booked for 2024, but some movement in the manifest is expected due to customer delays, making it challenging to achieve all 22 launches [49][230] - Management noted that while it may be difficult to achieve 22 launches, the company has a strong position to make up for any shortfall with other parts of the business [60] Question: Backlog and Pricing Power - The company has a strong backlog of $1 02 billion, with 42% expected to be recognized as revenue within 12 months [45][116] - Management sees some natural pricing support for Electron launches due to the lack of competition from aspirational players [32] Question: SolAero Margins - The company is working towards achieving a 30% gross margin target for SolAero, with progress being made on new contracts and production efficiencies [147][148] - Management expects to reach the 30% gross margin target within two years of acquisition, with some challenges remaining from pre-acquisition contracts [149][150] Question: Neutron Demand - Management is confident in the demand for Neutron, with robust discussions ongoing with potential customers [111] - The company is focused on bringing a launch vehicle to market that is ready to go, rather than engaging in early adopter pricing [112]

Revenue and Growth - Revenue for the three months ended March 31, 2024, was $92.8 million, a 69% increase from $54.9 million in the same period in 2023, driven by space systems growth of $24.8 million and launch growth of $13.1 million[109]. - Revenues for the three months ended March 31, 2024, were $92.8 million, a 69% increase from $54.9 million in the same period of 2023[127]. - The average revenue per launch increased to $8.2 million in the three months ended March 31, 2024, compared to $6.5 million in the same period in 2023, while the cost per launch decreased to $6.1 million from $7.5 million[111]. Backlog and Launch Operations - The backlog decreased from $1,046.1 million as of December 31, 2023, to $1,015.3 million as of March 31, 2024, with $215.6 million related to Launch Services and $799.7 million related to Space Systems[112]. - Rocket Lab has successfully launched the Electron rocket 42 times, delivering over 180 spacecraft to orbit through March 31, 2024[113]. - Rocket Lab's launch services program has achieved 42 successful missions, making it the fourth most frequent orbital launcher globally[102]. - The company built approximately 11 launch vehicles in 2023 and launched 10 vehicles in the same year, indicating a positive growth trend in launch operations[108]. Research and Development - Significant investments will continue in research and development for new products, including the Neutron launch vehicle and advanced configurable spacecraft[121]. - Research and development expenses rose by $14.6 million, or 61%, to $38.5 million for the three months ended March 31, 2024, primarily due to Neutron development[129]. Financial Performance - Cost of revenues increased by $20.1 million, or 41%, to $68.6 million for the three months ended March 31, 2024, compared to $48.5 million in 2023[128]. - Gross profit for the three months ended March 31, 2024, was $24.2 million, representing a gross margin of 26.1%, up from 11.6% in the same period of 2023[126]. - Net loss for the three months ended March 31, 2024, was $44.3 million, compared to a net loss of $45.6 million in the same period of 2023[126]. Cash and Financing - Cash and cash equivalents as of March 31, 2024, totaled $365.9 million, with an additional $195.2 million in marketable securities[134]. - Net cash provided by financing activities was $258.7 million for the three months ended March 31, 2024, primarily from the issuance of convertible senior notes[144]. - Capital expenditures for the three months ended March 31, 2024, were $19.2 million, reflecting ongoing investments in infrastructure[137]. - The company expects to continue investing in product development and market expansion, with potential opportunistic capital raising in the future[135]. Market Risks - The company is exposed to market risks primarily due to fluctuations in foreign currency exchange rates, interest rates, and inflation[147]. - The reporting currency is the U.S. dollar, and a 10% or greater move in exchange rates could materially impact financial results[148]. - The company does not believe inflation has materially affected its business, but significant inflationary pressures could harm profit margins[150]. Operational Strategy - The company aims to improve profit margins and scale its business by increasing production volumes and reducing costs[114]. - Government expenditures and private enterprise investment are expected to remain crucial for funding purchases of Rocket Lab's products and services, supporting growth prospects[115]. - The company has no off-balance sheet arrangements during the reported periods[146].

MEDIA RELEASE Exhibit 99.1 Rocket Lab Announces First Quarter 2024 Financial Results Reflecting Year-on-Year Revenue Growth of 69%, Sequential Quarterly Growth of 55%, and Continued Growth in Q2 2024 Rocket Lab also provided a major update on the progress of its new rocket Neutron, including that it has completed its first Archimedes engine build and has begun its engine test campaign in Mississippi. Long Beach, California. May 06, 2024 – Rocket Lab USA, Inc. (Nasdaq: RKLB) ("Rocket Lab" or "the Company"), ...

mikkelwilliam Rocket Lab (NASDAQ:RKLB) is trading close to its all-time lows and has vastly underperformed. However, in my view, the company is making strides in its business. As a growth company, Rocket Lab's stock RKLB is primarily driven by the story and expectations of future growth. In this case, I believe the company is executing its vision. However, this has yet to be appreciated by the market, in my opinion. Rocket Lab 2023 Results Demonstrate Continued Growth Looking at Rocket Lab's Q4 2023 and ful ...

It's good to be a government contractor -- and profitable, too.Rocket Lab (RKLB 3.29%) -- like the name implies -- is a company that makes rockets.Small, expendable "Electron" rockets, for the most part (although Rocket Lab has plans to test fly a new medium-size and reusable "Neutron" rocket in either 2024 or 2025). On Wall Street, a lot of analysts have pegged the introduction of Neutron as the event that flips the switch on Rocket Lab and turns the rocket company from just one of many unprofitable space ...

How much would you pay to own a rocket stock with 77% growth?Rocket Lab (RKLB) stock is on a tear. Over just the past week, Rocket Lab has announced:A $32 million U.S. Space Force contract to put a "VICTUS HAZE Tactically Responsive Space" satellite in orbit.Another Space Force contract to launch a DISKSat into very low earth orbit for $14.5 million.Plans to reuse one of its Electron first-stage rockets in an orbital launch for the first time ever. You might not guess it from the stock price (which is down ...

Rocket Lab USA, Inc. (RKLB) closed at $3.56 in the latest trading session, marking a +0.85% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 0.12%.Heading into today, shares of the company had lost 11.75% over the past month, lagging the Aerospace sector's loss of 5.49% and the S&P 500's loss of 0.9% in that time.Analysts and investors alike will be keeping a close eye on the performance of Roc ...

Rocket Lab is looking more like SpaceX by the day.Five years ago, Rocket Lab USA (RKLB -3.37%) made a bold move and changed the course of the company.Since setting up shop in 2017, the tiny rocket maker had launched a total of just 10 rockets -- fewer than three per year -- out of its Launch Complex 1 (LC-1) in New Zealand. LC-1 was hardly working at full capacity. And yet, Rocket Lab had high hopes to grow its business, launch more frequently, and one day perhaps even challenge SpaceX for dominance in spac ...

The company nabs a second Space Force award this week.Another day, another contract win for Rocket Lab USA (RKLB 3.21%). Investors are taking notice, lifting shares of the space start-up as much as 6% on Thursday afternoon before closing up 3.2%.A big week for contractsRocket Lab is one of a handful of young space stocks trying to elbow in on a business traditionally controlled by a handful of large incumbents. Much of that potential business comes from the U.S. government, which has been trying to lessen i ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Rocket Lab USA, Inc. (RKLB) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Rocket Lab USA curren ...