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Rocket Lab reports quarterly earnings
Posted: Sun, May 22, 2022, 9:11 AM ET (1311 GMT)
Rocket Lab said most of its first-quarter revenue did not come from rockets. The company reported Monday $40.7 million in revenue, along with a net loss of $26.7 million and adjusted EBITDA loss of $8 million. Rocket Lab said $34.1 million in revenue came from its space systems business, including spacecraft and components, and just $6.6 million from a single Electron launch. After going public last year, Rocket Lab has been aggressively diversifying, acquiring companies ranging from a solar panel manufacturer to a flight software developer. The company also said that, with the catch-and-release of an Electron booster on its most recent launch earlier this month, it is now 90% to its goal of reusing those boosters. It did not disclose when it would make another midair recovery attempt.
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