{"id":54918,"date":"2022-08-15T17:24:24","date_gmt":"2022-08-15T09:24:24","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/rocket-lab-revenue-grows-nearly-400-in-the-second-quarter-of-2022\/"},"modified":"2022-08-15T17:24:24","modified_gmt":"2022-08-15T09:24:24","slug":"rocket-lab-revenue-grows-nearly-400-in-the-second-quarter-of-2022","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/rocket-lab-revenue-grows-nearly-400-in-the-second-quarter-of-2022\/","title":{"rendered":"Rocket Lab Revenue Grows Nearly 400% in the Second Quarter of 2022"},"content":{"rendered":"<\/p>\n<p><strong>Rocket Lab<\/strong> grew revenue nearly 400% in the second quarter of 2022 compared to the same time period last year. The company reported record revenue of $55.5 million, representing 36% sequential quarter-on-quarter growth and 392% year-on-year revenue growth.<\/p>\n<p>Both Rocket Lab\u2019s Space Systems and Launch business grew during the quarter. Space Systems revenue for the quarter was $36.4 million, up 7% sequentially from the prior quarter. Space Systems comprised 66% of the company\u2019s revenue in the second quarter.<\/p>\n<p>\u201cSpace Systems continues to be a significant growth area, with construction of our satellite constellation production facility in Long Beach substantially complete. This production facility will support the manufacturing of contracted spacecraft builds in backlog for a range of customers including Varda Space Industries, Eta Space, the University of California, Berkeley and seventeen 500 kg spacecraft buses for Globalstar,\u201d Rocket Lab Founder and CEO Peter Beck commented.<\/p>\n<p>Launch revenue for the quarter was $19.1 million, more than triple launch revenue in the first quarter of $6.6 million. The company launched three successful Electron missions in the second quarter.<\/p>\n<p>Rocket Lab said the recently acquired ASI, PSC, and SolAero companies added approximately $28 million of revenue, while \u201corganic\u201d Rocket Lab products contributed roughly the same.<\/p>\n<p>The company increased R&amp;D spending, reporting $19 million for R&amp;D during the quarter, up 124% year-over-year, with investments in Neutron rocket development, Electron booster recovery and Photon projects.<\/p>\n<p>Net loss was $37.4 million, compared to a net loss of $16.7 million in the same quarter last year.<\/p>\n<p>Backlog at the end of the quarter was $531.4 million, a decrease of $14.5 million, which the company said was due to recognizing record revenue in the quarter.<\/p>\n<p>The company expects to do three launches in the third quarter \u2014 and has already completed two of them \u2014 for Launch Serves revenue of approximately $23 million. Space Systems revenue is expected to be between $37 million to $40 million, for full revenue in the range of $60 million to $63 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rocket Lab grew revenue nearly 400% in the second quarter of 2022 compared to the same time period last year. The company reported record revenue of $55.5 million, representing 36% sequential quarter-on-quarter growth and 392% year-on-year revenue growth. Both Rocket Lab\u2019s Space Systems and Launch business grew during the quarter. Space Systems revenue for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54919,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-54918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/54918"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=54918"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/54918\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/54919"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=54918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=54918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=54918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}