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Mar 31, 2023
Rocket Lab Q1 2023 Earnings Report
Rocket Lab reported strong start to the year with three successful Electron missions and exceeded revenue and gross margin guidance.
Key Takeaways
Rocket Lab had a strong first quarter in 2023, exceeding revenue and gross margin guidance. The company launched three successful Electron missions and secured new launch contracts. Development of the Neutron rocket is progressing, and Space Systems continues to perform well.
Delivered financial results that exceeded the high end of prior guidance for revenue and gross margin.
Launched three successful Electron missions in the first quarter for commercial constellation operators HawkEye 360, Capella Space, and BlackSky.
Successfully completed the Company’s first launch from its U.S. launch site, Rocket Lab Launch Complex 2.
Secured a multi-mission contract with Capella Space to launch four more dedicated launches on Electron in 2023.
Rocket Lab
Rocket Lab
Rocket Lab Revenue by Segment
Revenue by Segment
Space Systems Revenue
CapyFin.comLaunch Services Revenue
CapyFin.com Forward Guidance
For the second quarter of 2023, Rocket Lab expects revenue between $60 million and $63 million, GAAP Gross Margins between 14% to 16%, and GAAP Operating Expenses between $55 million to $57 million.
Positive Outlook
- Revenue between $60 million and $63 million.
- Launch Services revenue of approximately $23 million.
- Space Systems revenue of between $37 million to $40 million.
- GAAP Gross Margins between 14% to 16%.
- Non-GAAP Gross Margins between 22% to 24%.
Challenges Ahead
- GAAP Operating Expenses between $55 million to $57 million.
- Non-GAAP Operating Expenses between $41 million to $43 million.
- Expected Interest Expense (Income), net $1 million.
- Adjusted EBITDA loss of $22 million to $24 million.
- Basic Shares Outstanding of 480 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income