Rocket Lab Corp (NASDAQ:RKLB) posted financial results for the second quarter after the market close on Monday. Here’s a rundown of the end-to-end space company’s report.
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Rocket Lab Q2 Highlights
Rocket Lab reported second-quarter revenue of $234.07 million, beating the consensus estimate of $231.35 million. The company reported a second-quarter loss of eight cents per share, missing estimates for a loss of seven cents per share, according to Benzinga Pro.
Total revenue was up 62% on a year-over-year basis, driven by “surging demand” across all business segments. Rocket Lab said it signed $437 million in new Electron, HASTE and Neutron launch contracts in the second quarter, as well as additional post-quarter signings.
“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.
Rocket Lab ended the period with a record backlog of $2.36 billion and approximately $2.13 billion in cash and cash equivalents.
Rocket Lab guided for third-quarter revenue of $250 million to $265 million versus estimates of $238.53 million. The company also anticipates an adjusted EBITDA loss of $17 million to $23 million in the third quarter.
Rocket Lab said production of the stage 1 Neutron tank is currently aligned with the target delivery to the launch pad in the fourth quarter this year.
In connection with earnings, Rocket Lab announced it was selected to launch a dedicated Neutron mission for Kepler Communications no earlier than 2028.
The company also unveiled its new GHOST containerized launch system to enable launches from anywhere in the world and announced a strategic expansion with the establishment of Rocket Lab Germany.
Rocket Lab management will discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
RKLB Shares Slide After Hours
RKLB Price Action: Rocket Lab shares were down 0.67% in after-hours, trading at $79.50 at the time of publication on Monday, according to Benzinga Pro.
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Photo: courtesy of Rocket Lab.