$RKLB
Rocket Lab USA, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024094122 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $104.8M $106.3M
YoY Change 54.9% 71.25%
Cost Of Revenue $76.81M $79.09M
YoY Change 45.77% 66.67%
Gross Profit $28.00M $27.16M
YoY Change 87.05% 86.13%
Gross Profit Margin 26.71% 25.56%
Selling, General & Admin $32.17M $30.52M
YoY Change 18.28% 6.29%
% of Gross Profit 114.92% 112.38%
Research & Development $47.72M $39.91M
YoY Change 79.23% 28.6%
% of Gross Profit 170.46% 146.94%
Depreciation & Amortization $4.644M $4.636M
YoY Change 13.77% 38.1%
% of Gross Profit 16.59% 17.07%
Operating Expenses $79.90M $70.44M
YoY Change 48.43% 17.88%
Operating Profit -$51.90M -$43.27M
YoY Change 33.56% -4.17%
Interest Expense -$454.0K -$824.0K
YoY Change -67.87% 10.6%
% of Operating Profit
Other Income/Expense, Net $904.0K $783.0K
YoY Change -353.22% 2425.81%
Pretax Income -$51.00M -$42.49M
YoY Change 30.04% -5.84%
Income Tax $944.0K -$860.0K
% Of Pretax Income
Net Earnings -$51.94M -$41.63M
YoY Change 28.03% -9.28%
Net Earnings / Revenue -49.56% -39.18%
Basic Earnings Per Share -$0.10 -$0.08
Diluted Earnings Per Share -$0.10 -$0.08
COMMON SHARES
Basic Shares Outstanding 496.6M 492.8M
Diluted Shares Outstanding 497.7M 494.2M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $503.7M $543.2M
YoY Change 35.99% 30.85%
Cash & Equivalents $292.5M $340.9M
Short-Term Investments $211.2M $202.3M
Other Short-Term Assets $5.330M $5.816M
YoY Change 6.07% 9.3%
Inventory $114.4M $104.5M
Prepaid Expenses $50.32M $61.63M
Receivables $22.15M $50.48M
Other Receivables $11.41M $13.87M
Total Short-Term Assets $695.5M $751.8M
YoY Change 37.39% 34.21%
LONG-TERM ASSETS
Property, Plant & Equipment $171.0M $155.9M
YoY Change 25.73% 29.91%
Goodwill $71.02M $71.02M
YoY Change 0.0% 0.0%
Intangibles $61.58M $64.24M
YoY Change -12.53% -12.37%
Long-Term Investments $61.29M $46.41M
YoY Change -25.25% -37.23%
Other Assets $18.41M $24.03M
YoY Change 2.41% 86.37%
Total Long-Term Assets $457.5M $436.8M
YoY Change 2.99% 3.67%
TOTAL ASSETS
Total Short-Term Assets $695.5M $751.8M
Total Long-Term Assets $457.5M $436.8M
Total Assets $1.153B $1.189B
YoY Change 21.31% 21.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.43M $26.47M
YoY Change 69.87% 2.32%
Accrued Expenses $8.063M $11.94M
YoY Change 34.43% 83.87%
Deferred Revenue $167.1M $184.0M
YoY Change 24.92% 36.76%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.76M $11.35M
YoY Change -88.81% -89.13%
Total Short-Term Liabilities $269.2M $266.4M
YoY Change -11.38% -12.91%
LONG-TERM LIABILITIES
Long-Term Debt $46.92M $50.06M
YoY Change
Other Long-Term Liabilities $4.541M $3.953M
YoY Change 24.82% -30.84%
Total Long-Term Liabilities $51.46M $54.01M
YoY Change 1314.4% 844.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $269.2M $266.4M
Total Long-Term Liabilities $51.46M $54.01M
Total Liabilities $733.2M $733.4M
YoY Change 101.05% 97.98%
SHAREHOLDERS EQUITY
Retained Earnings -$761.4M -$709.4M
YoY Change 32.87% 33.23%
Common Stock $50.00K $50.00K
YoY Change 2.04% 4.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $419.8M $455.2M
YoY Change
Total Liabilities & Shareholders Equity $1.153B $1.189B
YoY Change 21.31% 21.1%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$51.94M -$41.63M
YoY Change 28.03% -9.28%
Depreciation, Depletion And Amortization $4.644M $4.636M
YoY Change 13.77% 38.1%
Cash From Operating Activities -$30.92M -$13.00M
YoY Change 22.68% 114.38%
INVESTING ACTIVITIES
Capital Expenditures $11.02M $15.34M
YoY Change -47.63% 45.14%
Acquisitions
YoY Change
Other Investing Activities -$6.286M $4.503M
YoY Change -42.44% 3.47%
Cash From Investing Activities -$17.30M -$10.84M
YoY Change -45.86% 74.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -444.0K -1.764M
YoY Change -151.63% -190.69%
NET CHANGE
Cash From Operating Activities -30.92M -13.00M
Cash From Investing Activities -17.30M -10.84M
Cash From Financing Activities -444.0K -1.764M
Net Change In Cash -48.66M -25.61M
YoY Change -13.56% 147.65%
FREE CASH FLOW
Cash From Operating Activities -$30.92M -$13.00M
Capital Expenditures $11.02M $15.34M
Free Cash Flow -$41.93M -$28.34M
YoY Change -9.31% 70.38%

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CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
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13156000
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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NetIncomeLoss
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
12228000
CY2023Q1 us-gaap Stock Issued During Period Shares Acquisitions
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q2 us-gaap Stock Issued During Period Value New Issues
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
15688000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
611048000
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
16421000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
29300000
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GainLossOnDispositionOfAssets1
1192000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Noncash Contribution Expense
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us-gaap Noncash Contribution Expense
NoncashContributionExpense
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
2116000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
248000
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IncreaseDecreaseInAccountsReceivable
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IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
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us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2530000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10611000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4638000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
10839000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
5289000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
5634000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
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us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
13234000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6566000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2845000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1064000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
4116000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
44718000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
26230000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
4222000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1881000
rklb Increase Decrease In Non Current Lease Liabilities
IncreaseDecreaseInNonCurrentLeaseLiabilities
-2860000
rklb Increase Decrease In Non Current Lease Liabilities
IncreaseDecreaseInNonCurrentLeaseLiabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1064000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-241000
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1159000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1808000
us-gaap Proceeds From Repayment Of Loans By Employee Stock Ownership Plans
ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans
2665000
us-gaap Proceeds From Repayment Of Loans By Employee Stock Ownership Plans
ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans
2522000
rklb Proceeds From Sale Of Employees Restricted Stock Units To Cover Taxes
ProceedsFromSaleOfEmployeesRestrictedStockUnitsToCoverTaxes
9270000
rklb Proceeds From Sale Of Employees Restricted Stock Units To Cover Taxes
ProceedsFromSaleOfEmployeesRestrictedStockUnitsToCoverTaxes
7801000
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
9479000
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
6968000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
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rklb Purchase Of Capped Calls Related To Issuance Of Convertible Senior Notes
PurchaseOfCappedCallsRelatedToIssuanceOfConvertibleSeniorNotes
43168000
rklb Purchase Of Capped Calls Related To Issuance Of Convertible Senior Notes
PurchaseOfCappedCallsRelatedToIssuanceOfConvertibleSeniorNotes
0
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
355000000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
0
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
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us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12205000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
477000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
160000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
256943000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4003000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-141000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-482000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
178117000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-45117000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166434000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
245871000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
344551000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200754000
us-gaap Interest Paid Net
InterestPaidNet
4588000
us-gaap Interest Paid Net
InterestPaidNet
7051000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
403000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
387000
rklb Unpaid Purchases Of Property Equipment And Software
UnpaidPurchasesOfPropertyEquipmentAndSoftware
2306000
rklb Unpaid Purchases Of Property Equipment And Software
UnpaidPurchasesOfPropertyEquipmentAndSoftware
2143000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
979000
rklb Unpaid Transaction Costs
UnpaidTransactionCosts
0
rklb Unpaid Transaction Costs
UnpaidTransactionCosts
999000
rklb Stock Issued In Acquisition
StockIssuedInAcquisition
838000
rklb Stock Issued In Acquisition
StockIssuedInAcquisition
0
rklb Issuance Of Common Stock For Payment Of Accrued Bonus
IssuanceOfCommonStockForPaymentOfAccruedBonus
1795000
rklb Issuance Of Common Stock For Payment Of Accrued Bonus
IssuanceOfCommonStockForPaymentOfAccruedBonus
0
us-gaap Use Of Estimates
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<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On an ongoing basis, our management evaluates estimates and assumptions including those related to revenue recognition, contract costs, loss reserves, valuation of warrants and stock-based compensation and deferred tax valuation allowances. We based our estimates on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Actual results could differ from these estimates and assumptions.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
106251000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
62045000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
199018000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
116940000
CY2024Q2 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
50476000
CY2023Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
35176000
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18744000
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
12951000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
184042000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
139338000
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
150535000
CY2024Q2 rklb Contract With Customer Liability Current Additions1
ContractWithCustomerLiabilityCurrentAdditions1
66613000
CY2024Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
33106000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
184042000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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rklb Contract With Customer Liability Current Additions1
ContractWithCustomerLiabilityCurrentAdditions1
134983000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
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CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
184042000
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1066627000
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
approximately 44% is expected to be recognized within 12 months, with the remaining 56% to be recognized beyond 12 months.
CY2024Q2 rklb Customer Financing Interest Income
CustomerFinancingInterestIncome
229000
rklb Customer Financing Interest Income
CustomerFinancingInterestIncome
481000
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
513142000
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
596000
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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CY2024Q2 us-gaap Marketable Securities
MarketableSecurities
202254000
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
77758000
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
183000
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
60561000
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
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CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
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CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
596000
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
513142000
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
512622000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
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CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
45062000
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
52279000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
53628000
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2024Q2 us-gaap Inventory Net
InventoryNet
104539000
CY2023Q4 us-gaap Inventory Net
InventoryNet
107857000
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
61632000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
48031000
CY2024Q2 us-gaap Grants Receivable Current
GrantsReceivableCurrent
10141000
CY2023Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
9940000
CY2024Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
3733000
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
3733000
CY2024Q2 us-gaap Other Assets Current
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CY2023Q4 us-gaap Other Assets Current
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CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
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81322000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
66949000
CY2024Q2 us-gaap Assets Held For Sale Long Lived Fair Value Disclosure
AssetsHeldForSaleLongLivedFairValueDisclosure
12030000
CY2024Q2 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
1230000
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
1230000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
213360000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
194519000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
57466000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
49110000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
155894000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
145409000
CY2024Q2 us-gaap Depreciation
Depreciation
4636000
CY2023Q2 us-gaap Depreciation
Depreciation
3357000
us-gaap Depreciation
Depreciation
9401000
us-gaap Depreciation
Depreciation
6915000
CY2024Q2 us-gaap Goodwill
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CY2023Q4 us-gaap Goodwill
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CY2024Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
103084000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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38841000
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
64243000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
101009000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32915000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
68094000
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3007000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3239000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6091000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6559000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6712000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9894000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9736000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8750000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7760000
CY2024Q2 rklb Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
19391000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
62243000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
355000000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10656000
CY2024Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.005
CY2024Q1 rklb Initial Cap Price
InitialCapPrice
8.04
us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
On December 29, 2023 (the “Effective Date”), the Company and certain of its subsidiaries (the “Subsidiaries”, together with the Company, the “Borrowers”), entered into a Master Equipment Financing Agreement (the “Trinity Loan Agreement”) with Trinity Capital, Inc., a Maryland corporation (the “Lender”) to provide financing for certain equipment and other property (the “Equipment”). The Trinity Loan Agreement provides that the Lender shall provide equipment financing in the aggregate of up to $120,000 (the “Conditional Commitment”), with advances (“Draws”) to be made as follows: (i) $70,000 on the Effective Date (the “Effective Date Draw”); and (ii) $40,000 to be drawn on the Effective Date (the “Blanket Lien Draw”), with each of the Effective Date Draw and Blanket Lien Draw payable over sixty (60) months beginning January 2024, with the final payments due in January 2029. After the Blanket Lien Draw is repaid in full, Borrowers may make Draws as follows: (x) $30,000 to be drawn in not more than three advances of at least $10,000 each at the Borrowers’ option no later than the date that is 18 months after the Effective Date; and (y) $20,000 to be drawn at Borrower’s option between January 1, 2025 and June 30, 2025 (such date, the “Termination Date”), subject to customary conditions.
CY2024Q2 rklb Term Loan Advances Aggregate Amount
TermLoanAdvancesAggregateAmount
20000000
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
The Company repaid an existing term loan with the proceeds from the Trinity Loan Agreement and Blanket Lien Draw. The monthly payment factors under the Trinity Loan Agreement and Blanket Lien Draw have a term of sixty (60) months and a rate factor of 0.022266
CY2024Q2 rklb Term Charge On Repayment Of Debt
TermChargeOnRepaymentOfDebt
700000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
5487000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
12071000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
13663000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
15464000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
17498000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
64183000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
95254696
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13955000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15264000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27048000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29300000
CY2024Q2 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
6919000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-860000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
761000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-855000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1287000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.02
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.017
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.01
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.014
CY2024Q2 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
1895000
rklb Uncertain Tax Positions
UncertainTaxPositions
0
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-41631000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-45889000
us-gaap Net Income Loss
NetIncomeLoss
-85891000
us-gaap Net Income Loss
NetIncomeLoss
-91506000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
494190708
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
494190708
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
479735858
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
479735858
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
492092709
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
492092709
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
477977551
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
477977551
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.1
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.1
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 rklb Rule10 B51 Arrmodifiedflag
Rule10B51Arrmodifiedflag
false
CY2024Q2 rklb Nonrule10 B51 Arrmodifiedflag
Nonrule10B51Arrmodifiedflag
false

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