Rocket Lab Q2 2022

In its Q2 2022 financial results, launch service provider Rocket Lab reported:

• Revenue growth: $55.5 million in revenue represented 36% sequential quarter-on-quarter growth and 392% year-on-year revenue growth.
• Space Systems segment revenue for the quarter was $36.4 million, up 7% sequentially from the prior quarter. Space Systems comprised 66% of the company’s revenue in the second quarter.
• Launch segment revenue for the quarter was $19.1 million, more than triple launch revenue in the first quarter of $6.6 million. The company launched three successful Electron missions in the second quarter.
• Recently acquired companies ASI, PSC, and SolAero companies added approximately $28 million of revenue.
• Increased R&D spending: $19 million for R&D during the quarter, up 124% year-over-year because of investments in Neutron rocket development, Electron booster recovery, and Photon projects.
• Net loss was $37.4 million, compared to a net loss of $16.7 million in the same quarter last year.
• Guidance: Revenue between $60 million to $63 million. Launch Serves revenue of approximately $23 million, with Space Systems revenue between $37 million to $40 million.
• Backlog at the end of the quarter was $531.4 million. This was a decrease of $14.5 million, which the company said was due to recognizing record revenue in the quarter.