Rocket Lab Reports Q2 Revenue Beat, Record Backlog — Stock Falls Anyway
Rocket Lab Corporation (NASDAQ: RKLB ) shares are trading lower Tuesday after the company reported mixed second- quarter financial results. Rocket Lab shares are sliding. Why are RKLB shares down? Q2 Highlights Rocket Lab reported a second-quarter loss of 8 cents per share, missing the consensus estimate of a loss of 7 cents per share. In addition, the company reported revenue of $234.07 million, beating the consensus estimate of $231.35 million. Total revenue was up 62% year-over-year, driven by surging demand across all business segments. Rocket Lab signed $437 million in new Electron, HASTE, and Neutron launch contracts during the quarter, along with additional post-quarter signings. The company ended the period with a record backlog of $2.36 billion and approximately $2.13 billion in cash and cash equivalents. “Q2 was another fantastic quarter for Rocket Lab, highlighted by...
Rocket Lab Corporation (NASDAQ: RKLB ) shares are trading lower Tuesday after the company reported mixed second- quarter financial results.
Rocket Lab shares are sliding.
Why are RKLB shares down? Q2 Highlights Rocket Lab reported a second-quarter loss of 8 cents per share, missing the consensus estimate of a loss of 7 cents per share.
In addition, the company reported revenue of $234.07 million, beating the consensus estimate of $231.35 million.
Total revenue was up 62% year-over-year, driven by surging demand across all business segments.
Rocket Lab signed $437 million in new Electron, HASTE, and Neutron launch contracts during the quarter, along with additional post-quarter signings.
The company ended the period with a record backlog of $2.36 billion and approximately $2.13 billion in cash and cash equivalents. “Q2 was another fantastic quarter for Rocket Lab, highlighted by record results and massive momentum that has continued well after the close,” said Peter Beck, founder and CEO of Rocket Lab.
Q3 Guidance Rocket Lab guided for third-quarter revenue of $250 million to $265 million, versus the consensus estimate of $238.53 million.
The company also anticipates an adjusted EBITDA loss of $17 million to $23 million for the third quarter.
Other Announcements Rocket Lab said production of the stage 1 Neutron tank remains aligned with target delivery to the launch pad in the fourth quarter of this year.
In connection with earnings, the company announced it was selected to launch a dedicated Neutron mission for Kepler Communications no earlier than 2028.
Rocket Lab also unveiled its new GHOST containerized launch system and announced the establishment of Rocket Lab Germany as part of a strategic international expansion.
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