Rocket Lab, an end-to-end space company, has reported a significant year-on-year revenue increase of approximately 71% for the three months ended June 30, 2024, with revenues rising from $62.0 million in 2023 to $106.3 million in 2024. This growth was driven by a $37.3 million increase in space systems and a $6.9 million increase in launch services, attributed to a higher launch cadence. For the six months ended June 30, 2024, revenue also saw a substantial increase of 70% year-on-year, reaching $199.0 million, up from $116.9 million in the previous year. The company's backlog grew slightly from $1,046.1 million as of December 31, 2023, to $1,066.6 million as of June 30, 2024. Rocket Lab's business development has been robust, with the Electron rocket becoming the second most frequently launched orbital rocket in...Show More

Rocket Lab, an end-to-end space company, has reported a significant year-on-year revenue increase of approximately 71% for the three months ended June 30, 2024, with revenues rising from $62.0 million in 2023 to $106.3 million in 2024. This growth was driven by a $37.3 million increase in space systems and a $6.9 million increase in launch services, attributed to a higher launch cadence. For the six months ended June 30, 2024, revenue also saw a substantial increase of 70% year-on-year, reaching $199.0 million, up from $116.9 million in the previous year. The company's backlog grew slightly from $1,046.1 million as of December 31, 2023, to $1,066.6 million as of June 30, 2024. Rocket Lab's business development has been robust, with the Electron rocket becoming the second most frequently launched orbital rocket in the U.S. and maintaining the company's position as the fourth most frequent orbital launcher globally. The company has also announced the development of the Neutron launch vehicle, expected to significantly increase payload capacity and is tailored for commercial and U.S. government constellation launches. Rocket Lab has also expanded its market participation through strategic acquisitions, enhancing its spacecraft components and software solutions. Looking ahead, Rocket Lab has updated the schedule for the first flight of the Neutron launch vehicle to no earlier than mid-2025 and has secured a ten-launch deal with Japanese Earth observation company Synspective. Additionally, the company is set to receive up to $23.9 million in direct funding under the CHIPS and Science Act, with additional financial support from the State of New Mexico.