Rocket Lab Corp
rocketlabcorp.comWhat Do They Do?
Builds spacecraft, spacecraft components and rockets for commercial, government and defense customers, and provides launch and on-orbit services.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
Customers pay for launch services and space-systems products and work under fixed-price or time-and-material contracts; billings are generally made as work progresses against agreed milestones. Launch and space-systems revenue is earned either at a launch or delivery milestone or over the work period, depending on the contract.
10-K for FY2025, filed Feb 26, 2026The Company generates revenue from launch services and space systems. Launch services may be provided as a mission dedicated to a single…View ↗
Revenue is recognized when control of the promised product or service is transferred to our customers at an amount that reflects the…View ↗
Generally, launch services revenue is recognized at a point-in-time when control transfers upon intentional ignition of the launch or where…View ↗
Revenue for space systems is recognized at a point-in-time or over-time depending upon the nature of the contract with customer. For…View ↗
The timing of revenue recognition, billings, and cash collections results in billed accounts receivable, unbilled receivables (presented…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$601.8M
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10-K for FY2025, filed Feb 26, 2026
$601.8M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Product revenues
|
62%
FY2022: 63%
|
Product revenues, FY2025
$371.6M Sources
|
|
Service revenues
|
38%
FY2022: 37%
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Service revenues, FY2025
$230.2M Sources
|
Who Are Their Customers?
Launch customers include government agencies and commercial spacecraft operators; space-systems customers include commercial firms, aerospace prime contractors and governments. A global business-development team sells both offerings and focuses on government agencies and major commercial operators.
10-K for FY2025, filed Feb 26, 2026Launch Services. As of December 31, 2025, we have launched and deployed over 200 spacecraft for our customers, which includes government…View ↗
Space Systems. As of December 31, 2025, we have flight hardware on over 1,800 missions, including legacy missions enabled by Sinclair…View ↗
We sell our launch services and space systems through a unified global business development team that cross-sells launch and space systems…View ↗
Do Revenues Turn Into Profits?
No. It lost $198.2M in FY2025.
10-K for FY2025, filed Feb 26, 2026
−$228.8MView ↗
10-K for FY2025, filed Feb 26, 2026
−$198.2MView ↗
10-K for FY2025, filed Feb 26, 2026
−$321.8MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
−$49.3MView ↗
- ▼ −26% (Loss)
- vs −$66.4M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
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Aug 10, 2026
Guided to revenue of $250 million to $265 million
Sources
8-K, filed Aug 10, 2026
Revenue between $250 million and $265 million. GAAP Gross Margins between 29% and 31%. Non-GAAP Gross Margins between 35% and 37%. GAAP…View ↗
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Jun 29, 2026
Agreed to acquire Iridium
The deal combines Rocket Lab’s launch and satellite manufacturing capabilities with Iridium’s global network and spectrum.
Sources
8-K, filed Jun 29, 2026
On June 28, 2026, Rocket Lab Corporation, a Delaware corporation (“Rocket Lab”), entered into an Agreement and Plan of Merger (the “Merger…View ↗
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Apr 14, 2026
Completed the acquisition of Mynaric
The purchase adds laser optical communications terminals to the space-systems portfolio.
Sources
8-K, filed Apr 14, 2026
On April 14, 2026, the Company completed the acquisition of all of the issued and outstanding ordinary shares of Mynaric pursuant to the…View ↗
Growing. Revenue grew 9.7x in 4 years, from $62.2M in FY2021 to $601.8M in FY2025, about 76% a year.
Optical systems
The latest report describes optical-sensor payloads for national-security missions as part of space systems; the older report describes components, design services and spacecraft-as-a-service. The latest report also says market participation expanded through acquisitions including GEOST.
10-K for FY2022, filed Mar 7, 2023 10-K for FY2025, filed Feb 26, 2026Consistent with our endeavor to provide end-to-end space solutions or our customers, Rocket Lab has expanded beyond launch services into…View ↗
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