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Sep 30, 2024
Rocket Lab Q3 2024 Earnings Report
Rocket Lab's Q3 2024 financial results were announced, revealing a 55% year-on-year revenue growth and providing guidance for record revenue in Q4.
Key Takeaways
Rocket Lab reported a strong Q3 2024 with revenue growing 55% year-over-year to $105 million. The company's backlog stands at $1.05 billion, driven by successes across small and medium launch, as well as space systems. They anticipate a strong finish to the year, projecting record revenue for Q4.
Revenue grew 55% year-on-year to $105 million.
Backlog reached $1.05 billion, indicating strong demand.
Signed a launch service agreement for multiple Neutron launches with a confidential commercial satellite constellation customer.
Achieved a new annual launch record of 12 Electron launches to date.
Revenue by Segment
Forward Guidance
Rocket Lab anticipates revenue between $125 million and $135 million for the fourth quarter of 2024.
Positive Outlook
- Revenue between $125 million and $135 million.
- GAAP Gross Margins between 26% and 28%.
- Non-GAAP Gross Margins between 32% and 34%.
- GAAP Operating Expenses between $84 million and $86 million.
- Non-GAAP Operating Expenses between $75 million and $77 million.
Challenges Ahead
- Adjusted EBITDA loss of $27 million and $29 million.
- Stock-based compensation is currently expected to range from $12 million to $14 million in Q4 2024.
- Expected Interest Expense (Income), net $1.5 million.
- Without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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