Q4 2025 Rocket Lab Corp Earnings Call Transcript

Feb 26, 2026 / 10:00 PM GMT

Transcript 10-K8-K

Key Points

Positve

Rocket Lab Corp (RKLB) achieved a new annual revenue record of $602 million in 2025, representing a 38% growth year-on-year.
The company reported a record backlog of $1.85 billion at the end of Q4 2025, up 73% from the previous year.
Rocket Lab Corp (RKLB) successfully launched 21 missions in 2025, setting a new company record.
The company secured an $816 million contract from the Space Development Agency for an advanced constellation of spacecraft.
Rocket Lab Corp (RKLB) expanded its capabilities through strategic acquisitions, including Geost, Optical Support Inc., and Precision Components Limited.

Negative

The stage one tank of the Neutron rocket ruptured during a hydrostatic pressure test, causing a delay in its first launch to Q4 2026.
GAAP EPS for Q4 2025 was a loss of $0.09 per share, compared to a loss of $0.03 per share in the previous quarter.
The company's non-GAAP free cash flow was a use of $114.2 million in Q4 2025, indicating elevated cash consumption.
Rocket Lab Corp (RKLB) anticipates a slight decline in gross margins in Q1 2026 due to a greater mix of space systems versus higher margin launch services.
The company faces challenges in maintaining a high launch cadence due to potential payload readiness issues from customers.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RKLB.OQ - Rocket Lab Corp
Q4 2025 Rocket Lab Corp Earnings Call
Feb 26, 2026 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to Rocket Lab's 4th quarter and full year 2025 earnings conference call. At this time, all participants are in listen-only mode.

A brief question-and-answer session will follow the formal presentation. Instructions will be given at that time.

As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Morganton, Vice President of Marketing and communications at Rocket Lab.

Thank you. You may begin.

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Unidentified_2 [2]
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Thank you. Hello and welcome to today's conference

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