Rocket Lab USA Inc
Q3 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −0.18%.
Did RKLB Beat Earnings? Q3 2025 Results
Rocket Lab delivered a standout third quarter for fiscal 2025, posting record revenue of $155.08 million — up 48% year over year — while reporting a loss per share of just $-0.03, well ahead of the consensus estimate of $-0.10, marking a 71.29% EPS beat. The stronger-than-expected results were driven by a powerful combination of launch momentum and expanding space systems demand, with service revenues doubling to $51.04 million and product revenues climbing to $104.04 million. The company's GAAP gross margin reached a record 37%, helping narrow the net loss to $18.26 million from $51.94 million a year earlier. Strategically, the quarter was shaped by the $325 million acquisition of sensor maker Geost, which deepens Rocket Lab's end-to-end capabilities across launch, spacecraft, and payloads. With over $1 billion in liquidity and Q4 guidance calling for revenue of $170 million to $180 million, Rocket Lab appears well-positioned to <a href="https://247wallst.com/investing/2026/02/27/rocket-labs-reports-revenue-surge-of-36-to-a-record-180-million/">extend its revenue momentum</a> as Neutron development accelerates toward a Q1 2026 arrival at Launch Complex 3.
- Record 17 dedicated Electron launch contracts secured in Q3 2025
- 48% year-over-year revenue growth to record $155 million
- Record GAAP gross margin of 37% and non-GAAP gross margin of 41.9%
- Service revenues doubled year-over-year to $51 million
- Net loss narrowed significantly from $51.9 million to $18.3 million year-over-year
“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.”
Rocket Lab CEO, on the earnings call
Forward Guidance & Outlook
For Q4 2025, Rocket Lab expects revenue between $170 million and $180 million, GAAP gross margins between 37% and 39%, non-GAAP gross margins between 43% and 45%, GAAP operating expenses between $122 million and $128 million, non-GAAP operating expenses between $107 million and $113 million, expected interest income (net) of $3.5 million, and Adjusted EBITDA loss of $23 million to $29 million. The company expects basic weighted average common shares outstanding of 571 million. Rocket Lab is on track to surpass its previous annual launch record in Q4 and close 2025 with 20+ launches. The Neutron rocket is expected to arrive at Launch Complex 3 in Q1 2026 with the first launch thereafter, pending successful qualification testing.
RKLB YoY Financials
RKLB Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.