Rocket Lab is an end-to-end space company and launch service provider, specializing in small satellite launches with its Electron rocket, which has launched 63 times as of April 2025. They are also developing the larger Neutron rocket for constellation deployment. Rocket Lab provides complete space solutions including satellite design and manufacture, spacecraft components, and on-orbit management, serving commercial, civil, and defense markets, with major partners including NASA and the US Space Force. Key products include the Electron and Neutron rockets, Photon satellite bus, and various satellite components.
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The Rocket Lab delivery schedule for SDA Tranche 2 satellites aligns with the Pentagon’s mandate for a resilient, proliferated Low Earth Orbit constellation to counter emerging hypersonic threats.
Space Systems accounted for 67% of Rocket Lab’s revenue in 2025 and grew 30% year-over-year.
Rocket Lab reached an annual revenue record of $602 million in 2025, representing 38% growth year-on-year compared with 2024.
The first Neutron first-stage tank that ruptured was handlaid by a third-party contractor while Rocket Lab was commissioning an automated fiber placement machine for future production.
Rocket Lab is building additional Neutron tail numbers to support faster convergence into subsequent flights.
Rocket Lab’s stock fell more than 10% on the Friday following news of the Neutron launch delay.
Rocket Lab pushed the first Neutron launch to the fourth quarter of this year.
Rocket Lab recorded a FY2025 net loss of $198.2 million, a 4% year-over-year increase.
Rocket Lab uncovered a manufacturing defect after a Neutron first-stage tank ruptured during testing in January.
Rocket Lab reported a record backlog of $1.85 billion in FY2025, a 73% year-over-year increase.
Rocket Lab’s VICTUS HAZE spacecraft is named "Puma".
Launch accounted for 33% of Rocket Lab’s revenue in 2025 and grew 57% year-over-year.
Rocket Lab expects roughly 20% growth in launches, including both Electron orbital launches and HASTE suborbital launches.
Rocket Lab grew backlog by 73% year-over-year to $1.85 billion at the end of 2025.
Rocket Lab’s acquisition of optical communications terminal provider Mynaric was announced in March 2025 and is still undergoing regulatory review.
CFO Adam Spice previously tied Rocket Lab’s profitability to beginning flights of the Neutron rocket during past earnings discussions.
Rocket Lab flew a record 21 Electron missions in 2025.
Redwire and BlackSky released their 2025 earnings results during the same week Rocket Lab released its 2025 earnings.
Rocket Lab is making minor design changes to the Neutron first-stage tank and will subject the modified tank to a test and qualification campaign.
Rocket Lab received an $805 million award for the Space Development Agency Tranche III Tracking contract in December 2025.