Rocket Lab Q2 Earnings: Revenue, EPS Beat On 'Strong And Growing Demand'

Rocket Lab USA Inc RKLB reported financial results for the second quarter Thursday after the bell. Here’s a look at the key highlights from the quarter.

Q2 Earnings: Rocket Lab reported second-quarter revenue of $106.25 million, beating the consensus estimate of $105.46 million. The company reported a quarterly loss of 8 cents per share, beating analyst estimates for a loss of 10 cents per share, according to Benzinga Pro.

Total revenue was up 71% on a year-over-year basis. Rocket Lab noted that it successfully launched its 50th Electron mission in the quarter, reaching the launch milestone faster than any commercially developed rocket in history.

“This year’s second quarter was Rocket Lab’s highest revenue quarter in Company history at $106 million. This 71% year-on-year revenue increase demonstrates the strong and growing demand for our launch services and space systems products, and importantly, our team’s ability to execute against it,” said Peter Beck, founder and CEO of Rocket Lab.

Outlook: Rocket Lab expects third-quarter revenue in the range of $100 million to $105 million. Space Systems revenue is expected to be between $79 million and $84 million, while Launch Services revenue is expected to be approximately $21 million.

The company noted it anticipates a third-quarter adjusted EBITDA loss of $31 million to $33 million.

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

RKLB Price Action: Rocket Lab shares were down 0.42% after hours at $4.75 at the time of publication Thursday, according to Benzinga Pro.

Photo: Courtesy of Rocket Lab.

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