RKLB Q1 2025 Earnings
Reported May 8, 2025 at 4:17 PM ET · SEC Source
Q1 25 EPS
$-0.12
Q1 25 Revenue
$122.6M
vs S&P Since Q1 25
+221.6%
BEATING MARKET
RKLB +249.3% vs S&P +27.7%
Market Reaction
Did RKLB Beat Earnings? Q1 2025 Results
Rocket Lab posted a strong first quarter in 2025, with revenue of $122.57 million, a 32% year-over-year increase that landed at the top end of the company's own guidance, while reporting a loss of $0.12 per share as accelerating investment in Neutron… Read more Rocket Lab posted a strong first quarter in 2025, with revenue of $122.57 million, a 32% year-over-year increase that landed at the top end of the company's own guidance, while reporting a loss of $0.12 per share as accelerating investment in Neutron development weighed on the bottom line. Product revenues were the standout driver, climbing to $80.80 million from $54.15 million a year earlier, helping lift non-GAAP gross margin to 33.4% from 31.7%. The wider net loss of $60.62 million compared to $44.26 million in Q1 2024 reflected a deliberate scaling posture, with R&D spending jumping to $55.11 million as Neutron's development cadence intensifies. Strategically, the quarter carried real weight: Neutron's on-ramping to the DoD's $5.60 billion NSSL Phase 3 Lane 1 program and the planned acquisition of laser terminal developer Mynaric, which CEO Peter Beck positioned as a springboard into Europe and a building block for future constellation capabilities, underscored the company's broadening ambitions. Looking ahead, Rocket Lab guided Q2 revenue of $130 million to $140 million, with non-GAAP gross margins expanding further to 34%-36%, a trajectory consistent with its record revenue growth ahead.
Key Takeaways
- • 32% year-over-year revenue growth driven by wins across launch and space systems divisions
- • Five successful Electron missions launched in Q1 2025 for three commercial constellation operators
- • Product revenues grew 49% year-over-year to $80.8 million
- • Non-GAAP gross margin expanded to 33.4% from 31.7% year-over-year
RKLB YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
RKLB Revenue by Segment
With YoY comparisons, source: SEC Filings
“Rocket Lab has delivered a strong first quarter performance, with wins across our launch and space systems divisions reflected in our near-record $123 million revenue – at the top end of our guidance and a 32% increase year-on-year compared to Q1 2024. We also remain confident in our ability to execute and deliver on what's set to be another strong quarter, with our Q2 2025 revenue guidance in the $130m-$140 million range – which would reflect the underlying strength of our increasingly diverse business within the current geopolitical climate, showing the resilience of our vertically integrated end-to-end space company business model.”
— Peter Beck, Q1 2025 Earnings Press Release
RKLB Earnings Trends
RKLB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RKLB EPS Trend
Earnings per share: estimate vs actual
RKLB Revenue Trend
Quarterly revenue: estimate vs actual
RKLB Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $-0.10 | $-0.09 | +8.16% | $179.7M | — |
| FY Full Year | $-0.39 | $-0.37 | +4.93% | $601.8M | +0.28% |
| Q3 25 BEAT | $-0.10 | $-0.03 | +71.29% | $155.1M | +2.22% |
| Q2 25 MISS | $-0.08 | $-0.13 | -69.71% | $144.5M | +6.71% |
| Q1 25 | — | $-0.12 | — | $122.6M | — |