Rocket Lab, an end-to-end space company, has reported a year-on-year revenue increase of approximately 16% for the fiscal year ended December 31, 2023, with revenues rising from $211.0 million in 2022 to $244.6 million in 2023. The growth was primarily attributed to a $22.7 million increase in space system products and services and an $11.2 million increase due to a higher launch cadence. The company launched ten vehicles in 2023 compared to nine in 2022. Despite the revenue growth, Rocket Lab experienced a net loss of $182.6 million in 2023, which was larger than the $135.9 million net loss in 2022. The company's backlog as of December 31, 2023, totaled $1,046.1 million, with $248.3 million related to Launch and $797.8 million to Space Systems.Rocket Lab's business development has been robust, with the company...Show More

Rocket Lab, an end-to-end space company, has reported a year-on-year revenue increase of approximately 16% for the fiscal year ended December 31, 2023, with revenues rising from $211.0 million in 2022 to $244.6 million in 2023. The growth was primarily attributed to a $22.7 million increase in space system products and services and an $11.2 million increase due to a higher launch cadence. The company launched ten vehicles in 2023 compared to nine in 2022. Despite the revenue growth, Rocket Lab experienced a net loss of $182.6 million in 2023, which was larger than the $135.9 million net loss in 2022. The company's backlog as of December 31, 2023, totaled $1,046.1 million, with $248.3 million related to Launch and $797.8 million to Space Systems.Rocket Lab's business development has been robust, with the company maintaining its position as the fourth most frequent orbital launcher globally. The company has expanded its offerings to include medium-class launch vehicles and launch services, space systems design and manufacturing, on-orbit management solutions, and space data applications. Notably, Electron, Rocket Lab's small launch vehicle, has successfully delivered 172 spacecraft to orbit across 38 missions as of December 31, 2023. The company also announced plans to develop the Neutron launch vehicle, which will increase payload capacity and is expected to be capable of human space flight.Looking to the future, Rocket Lab has secured a significant contract with the Space Development Agency valued at $515 million, which includes the design, manufacture, delivery, and operation of 18 space vehicles with deliveries slated for 2027. The company's growth strategy is dependent on expanding its addressable launch services market with the Neutron launch vehicle and winning spacecraft constellation missions, as well as expanding its portfolio of strategic spacecraft components.