Rocket Lab USA, Inc. (NASDAQ: RKL) has announced its financial results for the full year and fourth quarter of 2024, achieving record revenue figures that reflect significant growth. The company reported annual revenue of $234 million for the year, showing a remarkable 78% year-on-year growth. In the fourth quarter alone, Rocket Lab generated revenue of $76 million, marking a 121% year-on-year increase. The sequential growth from the previous quarter is noted at an impressive 26%. However, the company’s outlook for the first quarter of 2025 was less optimistic, with guidance indicating anticipated revenue of $28 million, which is below Wall Street expectations. CEO Peter Beck stated, ‘While we are proud of our record financial performance and position in the space industry, we acknowledge the challenges we face in the upcoming quarter, particularly in meeting our revenue targets.’ The challenges are attributed to fluctuating demand in the launch services sector as well as delays in customer contracts. Rocket Lab continues to focus on expanding its manufacturing capabilities and product offerings, including the Photon satellite platform, to enhance revenue streams in the coming periods. Analysts and investors will be monitoring the company’s strategic initiatives, especially in light of the recent earnings report which resulted in a drop in stock prices post-announcement. With ongoing developments in the commercial space industry, Rocket Lab’s performance will be crucial as it navigates potential market shifts and competition.
Rocket Lab Reports Record Revenue in Full-Year Financial Results Amid Soft Q1 Guidance
