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LONG BEACH, Calif. - Rocket Lab USA, Inc. (NASDAQ:RKLB) shares tumbled 12.4% in after-hours trading Thursday after the space company reported fourth quarter earnings that missed estimates and provided disappointing guidance.
The launch services and space systems provider reported a loss of $0.10 per share for Q4 2024, $0.01 worse than analyst expectations of a $0.09 loss. Revenue came in at $132.4 million, surpassing the consensus estimate of $129.61 million and representing a 382% increase from Q4 2021.
However, Rocket Lab’s outlook for the first quarter of 2025 fell short of Wall Street projections. The company expects Q1 revenue between $117 million and $123 million, below the $136.4 million analysts were anticipating.
"2024 was a record-setting year for Rocket Lab, with our highest annual revenue ever posted of $436.2 million and a record Q4 2024 revenue of $132.4 million," said Rocket Lab founder and CEO Peter Beck. He highlighted the company’s 16 Electron launches in 2024, a 60% increase from the previous year.
Despite the revenue growth, Rocket Lab’s net loss widened to $190.2 million for the full year 2024, compared to $182.6 million in 2023.
The company noted progress on its Neutron rocket program, with a planned debut launch in the second half of 2025. Rocket Lab also introduced a new satellite platform called Flatellite, designed for mass manufacture to serve large satellite constellations.
For Q1 2025, Rocket Lab expects adjusted EBITDA loss between $33 million and $35 million. The company ended 2024 with $271 million in cash and cash equivalents.
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