Thu, May 8, 8:33 PM (3 days ago)
**Rocket Lab USA, Inc. (RKLB) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $122.6 million, up 32% YoY, driven by space systems revenue growth ($87.0 million, +45%) and increased launch cadence (5 Electron launches vs. 4 in Q1 2024). - **Gross Profit:** $35.2 million, 28.8% of revenue, up from $24.2 million (26.1%) in Q1 2024. - **Operating Loss:** $(59.2) million, wider than $(43.1) million in Q1 2024, due to increased R&D and SG&A expenses. - **Net Loss:** $(60.6) million, compared to $(44.3) million in Q1 2024. - **Cash & Cash Equivalents:** $303.1 million, up from $271.0 million in Q4 2024. - **Marketable Securities:** $209.2 million, up from $178.7 million in Q4 2024. **Profit Margins:** - **Gross Margin:** 28.8%, up from 26.1% in Q1 2024. - **Operating Margin:** (48.3%), wider than (46.4%) in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** $(54.2) million, compared to $(2.6) million in Q1 2024. - **Investing Cash Flow:** $(28.6) million, primarily due to capital equipment investments. - **Financing Cash Flow:** $115.5 million, driven by ATM equity offering and loan draw. **Earnings Changes:** - **Revenue Growth:** 32% YoY, driven by space systems and launch services. - **Operating Loss Increase:** Due to higher R&D and SG&A expenses. **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by space systems (satellite manufacturing) and increased launch cadence. - **Higher Expenses:** R&D (Neutron development, staffing) and SG&A (staffing, public company costs) increased significantly. - **Cash Position:** Strong, with $303.1 million in cash and $209.2 million in marketable securities. **Trends & Uncertainties:** - **Tariffs:** Potential impact on supply chain and business operations. - **Neutron Development:** Critical for future growth, but faces risks and uncertainties. - **Customer Financing:** May impact future revenues and cash flows. **Future Operations Impact:** - **Investments:** Continued investment in R&D, production, and acquisitions. - **Cash Requirements:** For debt service, acquisitions, and working capital. - **Financing:** May seek additional equity or debt financing. **Ticker:** RKLB **Full Name:** Rocket Lab USA, Inc.