Summary by Moomoo AI
Rocket Lab achieved its highest quarterly revenue of $106 million in Q2 2024, representing 71% year-over-year growth. The company successfully completed multiple Electron launches for government and commercial customers, maintaining its position as the most frequently launched small rocket globally. Electron has accounted for 64% of all non-SpaceX orbital U.S. launches in 2024.The company reached a critical milestone in developing its medium-lift Neutron rocket with the successful completion of the first Archimedes engine hot fire test. Infrastructure development is progressing with scaled engine production, installation of automated fiber placement equipment, and advancing construction of the final assembly facility in Wallops, Virginia. Additionally, Rocket Lab completed production of two spacecraft for NASA's Mars mission.For Q3 2024, Rocket Lab expects revenue between $100-105 million, with Space Systems contributing $79-84 million and Launch Services approximately $21 million. The company projects GAAP gross margins of 25-27% and an Adjusted EBITDA loss of $31-33 million.
