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Sep 30, 2025
Rocket Lab Q3 2025 Earnings Report
Rocket Lab posted record revenue and narrowed its net loss in Q3 2025.
Key Takeaways
Rocket Lab delivered a strong quarter with record-high revenue, continued expansion of its launch services, and strategic acquisitions. Despite a net loss, the company maintained high gross margins and strengthened its capital position.
Revenue by Segment
Forward Guidance
Rocket Lab expects continued revenue growth and stable margins in Q4 2025, with adjusted EBITDA loss improving.
Positive Outlook
- Q4 revenue guidance between $170M and $180M
- GAAP gross margin expected between 37% and 39%
- Non-GAAP gross margin expected between 43% and 45%
- Interest income projected at $3.5M
- Strong liquidity position with over $1B in cash
Challenges Ahead
- Expected adjusted EBITDA loss between $23M and $29M
- GAAP operating expenses projected up to $128M
- Continued stock-based compensation pressure ($15M–$17M)
- No improvement in profitability expected short-term
- Dependent on Neutron test and launch timelines for growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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