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Sep 30, 2023
Rocket Lab Q3 2023 Earnings Report
Rocket Lab's third quarter results were announced, with a focus on Electron's return to service and progress in Space Systems and Neutron development.
Key Takeaways
Rocket Lab reported its Q3 2023 financial results, highlighting two successful Electron missions before an anomaly, advancements in Neutron development, and continued progress in Space Systems, including a $143 million Globalstar contract. The company is focused on Electron's return to service and has secured multiple HASTE hypersonic missions.
Launched two successful Electron missions in Q3, supporting the Electron reusability program.
Confirmed FAA authorization to resume Electron launches from Launch Complex 1 following a September anomaly.
Electron's return to flight scheduled for a launch window opening November 28, 2023.
Continued growth in Electron bookings for 2024, with the launch manifest fully allocated into early 2025.
Rocket Lab
Rocket Lab
Rocket Lab Revenue by Segment
Revenue by Segment
Space Systems Revenue
CapyFin.comLaunch Services Revenue
CapyFin.com Forward Guidance
For Q4 2023, Rocket Lab anticipates revenue between $65 million and $69 million, with Space Systems revenue between $48.5 million and $52.5 million, and Launch Services revenue of approximately $16.5 million. GAAP Gross Margins are expected to be between 24% to 26%, and Non-GAAP Gross Margins between 30% to 32%.
Positive Outlook
- Revenue between $65 million and $69 million.
- Space Systems revenue between $48.5 million to $52.5 million.
- Launch Services revenue of approximately $16.5 million.
- GAAP Gross Margins between 24% to 26%.
- Non-GAAP Gross Margins between 30% to 32%.
Challenges Ahead
- GAAP Operating Expenses between $61 million to $63 million.
- Non-GAAP Operating Expenses between $50 million to $52 million.
- Expected Interest Expense (Income), net $2 million.
- Adjusted EBITDA loss of $23 million to $27 million.
- Basic Shares Outstanding of 487 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income