Rocket Lab Q4 Earnings: Revenue Miss, EPS In Line, New Spacecraft Unveiled And More

Rocket Lab USA Inc RKLB reported fourth-quarter financial results Tuesday after the bell. Here’s a rundown of the report.

Q4 Earnings: Rocket Lab reported fourth-quarter revenue of $59.99 million, which missed the consensus estimate of $62.89 million, according to Benzinga Pro. The company reported a quarterly loss of 10 cents per share, which was in line with analyst estimates.

“Rocket Lab had another strong year in 2023 across our launch and space systems businesses … Continuing this strong momentum, we started 2024 off strong with the issuance of $355 million in convertible senior notes, adding additional funding to the Rocket Lab balance sheet at an attractive cost of capital and enabling us to take advantage of potential M&A as well as other strategic growth investment opportunities,” said Peter Beck, founder and CEO of Rocket Lab.

Outlook: Rocket Lab expects first-quarter revenue to be between $92 million and $98 million versus estimates of $98.57 million. Space Systems revenue is expected to be between $60 million and $65 million, while Launch Services revenue is expected to be between $32 million and $33 million.

The company also guided for a first-quarter adjusted EBITDA loss of $28 million to $30 million.

Management will hold a conference call to discuss these results at 5 p.m. ET.

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What Else: Rocket Lab also introduced its family of spacecraft buses in a separate press release late Tuesday. The company’s family of spacecraft includes the original Rocket Lab spacecraft Photon, a new spacecraft bus designed for a 12+ year orbital lifespan called Lightning, a highly configurable medium delta-V platform called Pioneer and a high delta-V spacecraft with large propellant tanks called Explorer.

RKLB Price Action: Rocket Lab shares were down 4.67% after hours at $4.49 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Rocket Lab.