RKLB 8-K — Smart Summary

Rocket Lab Corporation reported record quarterly revenue of $155 million for Q3 2025 (ended September 30, 2025), representing 48% year-on-year growth, with record GAAP gross margins of 37%. The filing also discloses the resignation of board member Matt Ocko, effective November 30, 2025.

• Total revenues: $155,080K in Q3 2025 vs. $104,808K in Q3 2024, +48% YoY
• Product revenues: $104,042K in Q3 2025 vs. $79,419K in Q3 2024, +31% YoY
• Service revenues: $51,038K in Q3 2025 vs. $25,389K in Q3 2024, +101% YoY
• GAAP Gross profit: $57,314K in Q3 2025 vs. $27,996K in Q3 2024; GAAP Gross margin: ~37% (record)
• Non-GAAP Gross profit: $64,979K in Q3 2025 vs. $32,788K in Q3 2024; Non-GAAP Gross margin: 41.9% vs. 31.3% YoY
• GAAP Operating loss: $(58,969)K in Q3 2025 vs. $(51,899)K in Q3 2024
• Net loss: $(18,257)K in Q3 2025 vs. $(51,939)K in Q3 2024; Basic and diluted EPS: $(0.03) vs. $(0.10) YoY
• Adjusted EBITDA loss: $(26,275)K in Q3 2025 vs. $(30,867)K in Q3 2024
• Net cash used in operating activities (nine months ended September 30, 2025): $(100,990)K vs. $(46,503)K for the same period in 2024

• Product revenues (Q3 2025): $104,042K vs. $79,419K in Q3 2024, +31% YoY
• Service revenues (Q3 2025): $51,038K vs. $25,389K in Q3 2024, +101% YoY
• Nine months product revenues: $277,571K vs. $205,848K in 2024, +35% YoY
• Nine months service revenues: $144,576K vs. $97,978K in 2024, +48% YoY

• Cash and cash equivalents: $807,875K as of September 30, 2025, up from $271,042K at December 31, 2024
• Marketable securities (current + non-current): $168,865K + $46,202K = $215,067K as of September 30, 2025
• Company exited the quarter with $1+ billion in liquidity following recent at-the-market offering program
• ATM Equity Offering proceeds (nine months 2025): $865,453K; issuance costs: $(20,134)K
• Convertible senior notes, net (non-current): $347,014K as of September 30, 2025 vs. $345,392K at December 31, 2024
• Long-term borrowings, net (non-current, excluding current installments): $51,267K as of September 30, 2025
• Preferred stock: 45,951,250 shares issued and outstanding at September 30, 2025 (none at December 31, 2024)
• Acquisition of Geost closed for up to $325 million in a cash-plus-equity transaction; cash paid for business combination (net of acquired cash): $(132,441)K

• Sir Peter Beck, Rocket Lab founder and CEO
  • "This past quarter we've once again delivered record revenue of $155m at record GAAP gross margin of 37%, and a new annual launch record is just days away."
  • "With progress across our major space systems programs, record backlog of contracts for our launch services business, and well-timed, strategic M&A in growth areas that are well-aligned with next-generation defense programs like Golden Dome and the Space Development Agency's future constellations, our momentum is strong and we're poised to deliver long-term exciting growth."

• Q4 2025 revenue expected between $170 million and $180 million
• Q4 2025 GAAP Gross Margins expected between 37% and 39%
• Q4 2025 Non-GAAP Gross Margins expected between 43% and 45%
• Q4 2025 GAAP Operating Expenses expected between $122 million and $128 million
• Q4 2025 Non-GAAP Operating Expenses expected between $107 million and $113 million
• Q4 2025 Expected Interest Income, net: $3.5 million
• Q4 2025 Adjusted EBITDA loss expected between $23 million and $29 million
• Q4 2025 Basic Weighted Average Common Shares Outstanding: 571 million, including approximately 46 million Series A Convertible Participating Preferred Shares
• Stock-based compensation expected to range from $15 million to $17 million in Q4 2025
• Company on track to close out the year with 20+ launches; new annual launch record expected in Q4 2025
• Neutron rocket arriving at Launch Complex 3 in Q1 2026, with first launch thereafter pending qualification testing

• Board Member Matt Ocko — Resigned as a member of the Company's Board of Directors, effective November 30, 2025. Resignation is not the result of any dispute or disagreement with the Company on any matter relating to the Company's operations, policies or practices.

• Matt Ocko notified Rocket Lab of his resignation as a member of the Company's Board of Directors on November 7, 2025, effective November 30, 2025
• Mr. Ocko's resignation is not the result of any dispute or disagreement with the Company on any matter relating to the Company's operations, policies or practices