Rocket Lab’s record $234 million quarterly revenue missed estimates while its net loss widened to $49.3 million.
Rocket Lab posted second-quarter revenue of $234 million, up 62% year-over-year, but reported a net loss of $49.3 million, or 8 cents per share, exceeding analyst expectations. The loss narrowed from $66.4 million in the same period last year but missed the FactSet consensus forecast of a 6-cent loss on $231.6 million in revenue.
Product sales surged to $181.3 million from $92.7 million a year ago, while service revenues edged up to $52.7 million from $51.8 million. The company’s backlog grew 137% to $2.36 billion, driven by new contracts in launch and space systems.
Rocket Lab guided for third-quarter revenue of $250 million to $265 million and an adjusted EBITDA loss of $17 million to $23 million. Shares fell 1.6% to $78.80 following the report.