LONG BEACH, Calif., Feb. 26, 2026 (GLOBE NEWSWIRE) — Rocket Lab Corporation (Nasdaq: RKLB) (“Rocket Lab”, “the Company”, “we,” “us,” or “our”), a global leader in launch services and space systems, today shared the financial results for fiscal fourth quarter and full year ended December 31, 2025.

Rocket Lab founder and CEO, Sir Peter Beck, said: “2026 was a record-breaking year for Rocket Lab financially and operationally. We delivered record quarterly revenue of $180 million, which brought our full year revenue to a record $602 million, representing 38% growth year on year. We reached a new annual launch record, flying 21 missions across Electron and HASTE with a 100% success rate for the year, and also reached significant qualification milestones in the development of Neutron, our new medium-lift launch vehicle. At the same time we were awarded Rocket Lab’s largest single contract to date, an $816 million contract from the Space Development Agency to design and manufacture 18 satellites for the Tracking Layer Tranche 3 program under the Proliferated Warfighter Space Architecture. It was also the quarter in which two spacecraft we built for NASA and the University of California Berkeley were successfully launched toward Mars for the historic ESCAPADE mission, proving Rocket Lab can deliver decadal class science missions on rapid timelines for a fraction of the cost of traditional interplanetary programs. We ended the year with a record $1.85 billion in backlog, representing 73% year-on-year growth, a figure we look forward to building upon in 2026.”

Business Highlights for the Fourth Quarter 2025, plus updates since December 31, 2025.

  • Launched seven missions in Q4 2025, a new quarterly record, and also achieved a new annual launch record with 21 Electron missions flown in 2025 with 100% mission success. Three of these 2025 launches were HASTE (Hypersonic Accelerator Suborbital Test Electron) missions delivering hypersonic suborbital test launch capability, a key priority for the Department of War needed to support initiatives such as Golden Dome.
  • Signed more than 30 new launch contracts in 2025 with a diverse customer base spanning U.S. national defense and security, commercial constellations, and new and returning customers.
  • Awarded $816m prime contract by the Space Development Agency to design and build a constellation of 18 advanced missile warning, tracking, and defense spacecraft. The contract further cements Rocket Lab’s position as the disruptive and preferred new prime, winning contracts historically reserved for legacy aerospace contractors.
  • Twin spacecraft designed, built, and operated by Rocket Lab were successfully launched for NASA and University of California Berkeley’s ESCAPADE mission to Mars.
  • Completed production of LOXSAT, an advanced spacecraft designed and built by Rocket Lab to enable an on-orbit cryogenic fueling demonstration for NASA.
  • Introduced new advanced silicon solar arrays to power gigawatt-scale space-based data centers spanning kilometers in orbit, harnessing infinitely abundant solar energy to support surging A.I. and compute demand on Earth.
  • Acquired Optical Support Inc, a leader in design and manufacture of custom, high-precision optical and optomechanical instruments. It’s the latest move in Rocket Lab’s vertically integration strategy, bringing high-performance optical payload technology into the Company to unlock high value national security and commercial spacecraft opportunities.
  • Acquired Precision Components Limited, expanding Rocket Lab’s high volume, precision manufacturing capabilities.
  • Selected by the Missile Defense Agency for the Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) program, positioning Rocket Lab to compete for future launch and space systems contracts up to a total of $151 billion to deliver capabilities to the warfighter with increased agility.
  • Welcomed Secretary of War Pete Hegseth to Rocket Lab’s Engine Development Complex in Long Beach as part of the Arsenal of Freedom Tour, highlighting the critical support Rocket Lab provides for defense and national security priorities.
  • Successfully qualified Neutron’s Hungry Hippo fairing and delivered it to the Assembly and Integration Complex in Virginia ready for final integration and end-to-end systems testing.
  • Completed successful qualification for Neutron’s thrust structure and entered qualification phase for the interstage, both critical development milestones for the Neutron development program.
  • Updated the Neutron development schedule following the stage 1 tank test failure, with Neutron’s first launch now targeted for Q4 2026.

First Quarter 2026 Guidance
For the first quarter of 2026, Rocket Lab expects:

  • Revenue between $185 million and $200 million.
  • GAAP Gross Margins between 34% and 36%.
  • Non-GAAP Gross Margins between 39% and 41%.
  • GAAP Operating Expenses between $120 million and $126 million.
  • Non-GAAP Operating Expenses between $106 million and $112 million.
  • Interest Income, net $8.0 million.
  • Adjusted EBITDA loss of between $21 million and $27 million.
  • Basic Weighted Average Common Shares Outstanding of 605 million, including approximately 46 million of Series A Convertible Participating Preferred Shares.

See “Use of Non-GAAP Financial Measures” below for an explanation of our use of Non-GAAP financial measures, and the reconciliation of historical Non-GAAP measures to the comparable GAAP measures in the tables attached to this press release. We have not provided a reconciliation for the forward-looking Non-GAAP Gross Margin, Non-GAAP Operating Expenses or Adjusted EBITDA expectations for Q1 2026 described above because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. Stock-based compensation is currently expected to range from $16 million to $18 million in Q1 2026.

Conference Call Information
Rocket Lab will host a conference call for investors at 2 p.m. PT (5 p.m. ET) today to discuss these business highlights and financial results for our fourth quarter and full year 2025, to provide our outlook for the first quarter 2026, and other updates.

The live webcast and a replay of the webcast will be available on Rocket Lab’s Investor Relations website: https://investors.rocketlabcorp.com/

Rocket Lab Investor Relations Contact
Patrick Vorenkamp
investors@rocketlabusa.com

Rocket Lab Media Contact
Morgan Connaughton
media@rocketlabusa.com

About Rocket Lab
Rocket Lab is a leading space company that provides launch services, spacecraft, payloads and satellite components serving commercial, government, and national security markets. Rocket Lab’s Electron rocket is the world’s most frequently launched orbital small rocket; its HASTE rocket provides hypersonic test launch capability for the U.S. government and allied nations; and its Neutron launch vehicle in development will unlock medium launch for constellation deployment, national security and exploration missions. Rocket Lab’s spacecraft and satellite components have enabled more than 1,700 missions spanning commercial, defense and national security missions including GPS, constellations, and exploration missions to the Moon, Mars, and Venus. Rocket Lab is a publicly listed company on the Nasdaq stock exchange (RKLB). Learn more at www.rocketlabcorp.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our expectations of financial results for the first quarter of 2026, launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development and anticipated timeline to launch, operational expansion and business strategy are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.investors.rocketlabcorp.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Use of Non-GAAP Financial Measures
We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (“GAAP”) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliation of the non-GAAP financial information to the corresponding GAAP measures for the historical periods disclosed are included at the end of the tables in this press release. We have not provided a reconciliation for forward-looking non-GAAP financial measures because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. The following definitions are provided:

Adjusted EBITDA
EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from net income or loss to determine Adjusted EBITDA. Management believes this measure provides investors meaningful insight into results from ongoing operations.

Other Non-GAAP Financial Measures
Non-GAAP gross profit, gross margin, research and development, net, selling, general and administrative, operating expenses, operating loss and total other income (expense), net, further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from the applicable GAAP financial measure. Management believes these non-GAAP measures provide investors meaningful insight into results from ongoing operations.

ROCKET LAB CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31, 2025 AND 2024
(unaudited; in thousands, except share and per share data)
           Three Months Ended December 31,   Years Ended December 31,     2025       2024       2025       2024   Revenues:               Product revenues $ 94,046     $ 84,003     $ 371,617     $ 289,851   Service revenues   85,606       48,385       230,182       146,363   Total revenues   179,652       132,388       601,799       436,214   Cost of revenues:               Cost of product revenues   64,446       60,620       252,848       213,835   Cost of service revenues   46,974       34,951       141,770       106,230   Total cost of revenues   111,420       95,571       394,618       320,065   Gross profit   68,232       36,817       207,181       116,149   Operating expenses:               Research and development, net   78,779       48,255       270,716       174,394   Selling, general and administrative   40,495       40,111       165,303       131,556   Total operating expenses   119,274       88,366       436,019       305,950   Operating loss   (51,042 )     (51,549 )     (228,838 )     (189,801 ) Other income (expense):               Interest expense   (5,019 )     (6,714 )     (26,489 )     (26,179 ) Interest income   9,589       4,936       25,512       22,225   (Loss) gain on foreign exchange   (228 )     378       (463 )     (87 ) Other income, net   5,056       1,279       4,381       4,431   Total other income (expense), net   9,398       (121 )     2,941       390   Loss before income taxes   (41,644 )     (51,670 )     (225,897 )     (189,411 ) (Provision) benefit for income taxes   (11,278 )     (675 )     27,688       (764 ) Net loss $ (52,922 )   $ (52,345 )   $ (198,209 )   $ (190,175 ) Net loss per share attributable to Rocket Lab Corporation:               Basic and diluted $ (0.09 )   $ (0.10 )   $ (0.37 )   $ (0.38 ) Weighted-average common shares outstanding:               Basic and diluted   572,518,399       501,748,897       530,664,781       495,929,861                                   ROCKET LAB CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2025 AND 2024
(unaudited; in thousands, except share and per share values)
       December 31,     2025       2024   Assets       Current assets:       Cash and cash equivalents $ 828,660     $ 271,042   Marketable securities, current   187,917       147,948   Accounts receivable, net   39,001       36,440   Contract assets   61,606       63,108   Inventories   158,407       119,074   Prepaids and other current assets   89,953       55,009   Total current assets   1,365,544       692,621   Non-current assets:       Property, plant and equipment, net   319,473       194,838   Intangible assets, net   224,746       58,637   Goodwill   205,750       71,020   Right-of-use assets – operating leases   90,371       53,664   Right-of-use assets – finance leases   13,895       14,396   Marketable securities, non-current   82,247       60,686   Restricted cash   4,885       4,260   Deferred income tax assets, net   1,895       3,010   Other non-current assets   15,672       31,210   Total assets $ 2,324,478     $ 1,184,342   Liabilities and Stockholders’ Equity       Current liabilities:       Trade payables $ 72,699     $ 53,059   Accrued expenses   19,299       19,460   Employee benefits payable   25,803       20,847   Contract liabilities   195,438       216,160   Current installments of long-term borrowings   —       12,045   Other current liabilities   21,237       17,954   Total current liabilities   334,476       339,525   Non-current liabilities:       Convertible senior notes, net   152,395       345,392   Long-term borrowings, net, excluding current installments   1,716       44,049   Non-current operating lease liabilities   85,191       51,965   Non-current finance lease liabilities   14,653       14,970   Deferred tax liabilities   1,241       891   Other non-current liabilities   12,952       5,097   Total liabilities   602,624       801,889   COMMITMENTS AND CONTINGENCIES       Stockholders’ equity:       Preferred stock, $0.0001 par value; authorized shares: 100,000,000; issued and outstanding shares: 45,951,250 and 0 at December 31, 2025 and December 31, 2024, respectively   5       —   Common stock, $0.0001 par value; authorized shares: 2,500,000,000; issued shares: 589,525,802 and 504,453,785 at December 31, 2025 and December 31, 2024, respectively; outstanding shares 543,574,552 and 504,453,785 at December 31, 2025 and December 31, 2024, respectively   54       50   Treasury stock, at cost; shares: 45,951,250 and 0 at December 31, 2025 and December 31, 2024, respectively   —       —   Additional paid-in capital   2,735,669       1,198,909   Accumulated deficit   (1,011,910 )     (813,701 ) Accumulated other comprehensive loss   (1,964 )     (2,805 ) Total stockholders’ equity   1,721,854       382,453   Total liabilities and stockholders’ equity $ 2,324,478     $ 1,184,342                   ROCKET LAB CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(unaudited; in thousands)
       Years Ended December 31,     2025       2024   CASH FLOWS FROM OPERATING ACTIVITIES:       Net loss $ (198,209 )   $ (190,175 ) Adjustments to reconcile net loss to net cash used in operating activities:       Depreciation and amortization   43,935       33,655   Stock-based compensation expense   71,099       56,816   Loss (gain) on disposal of assets   2,613       (2,828 ) Loss on extinguishment of long-term debt   5,926       1,330   Amortization of debt issuance costs and discount   3,140       3,091   Noncash lease expense   8,288       5,951   Change in the fair value of contingent consideration   (10,624 )     (218 ) Accretion of marketable securities purchased at a discount   (2,245 )     (2,901 ) Deferred income taxes   (30,667 )     599   Changes in operating assets and liabilities:       Accounts receivable, net   667       (1,428 ) Contract assets   2,296       (50,161 ) Inventories   (39,885 )     (12,398 ) Prepaids and other current assets   (15,460 )     7,591   Other non-current assets   15,834       (12,922 ) Trade payables   10,220       24,800   Accrued expenses   (1,931 )     9,086   Employee benefits payable   1,523       5,304   Contract liabilities   (21,606 )     76,865   Other current liabilities   849       3,249   Non-current lease liabilities   (11,507 )     (6,405 ) Other non-current liabilities   223       2,209   Net cash used in operating activities   (165,521 )     (48,890 ) CASH FLOWS FROM INVESTING ACTIVITIES:       Purchases of property, equipment and software   (156,285 )     (67,093 ) Proceeds on disposal of assets, net   397       12,542   Cash paid for business combinations and asset acquisitions, net of acquired cash   (132,441 )     —   Purchases of marketable securities   (275,319 )     (162,161 ) Maturities of marketable securities   212,868       116,242   Sale of marketable securities   3,383       2,143   Net cash used in investing activities   (347,397 )     (98,327 ) CASH FLOWS FROM FINANCING ACTIVITIES:       Proceeds from ATM Equity Offerings   1,146,057       —   Issuance costs related to ATM Equity Offerings   (26,514 )     —   Proceeds from the exercise of stock options   2,572       3,507   Proceeds from Employee Stock Purchase Plan   11,047       5,683   Proceeds from sale of employees restricted stock units to cover taxes   113,346       35,254   Minimum tax withholding paid on behalf of employees for restricted stock units   (113,487 )     (35,336 ) Finance lease principal payments   (268 )     (329 ) Purchase of capped calls related to issuance of convertible senior notes   —       (43,168 ) Proceeds from issuance of convertible senior notes   —       355,000   Proceeds from secured term loan   26,716       —   Repayments on secured term loans   (87,920 )     (51,724 ) Payment of debt issuance costs   (278 )     (12,205 ) Net cash provided by financing activities   1,071,271       256,682   Effect of exchange rate changes on cash and cash equivalents   (110 )     (597 ) Net increase in cash and cash equivalents and restricted cash   558,243       108,868   Cash and cash equivalents, and restricted cash, beginning of period   275,302       166,434   Cash and cash equivalents, and restricted cash, end of period $ 833,545     $ 275,302          

ROCKET LAB CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31, 2025 AND 2024
(unaudited; in thousands)

The tables provided below reconcile the non-GAAP financial measures Adjusted EBITDA, Non-GAAP gross profit, Non-GAAP research and development, net, Non-GAAP selling, general and administrative, Non-GAAP operating expenses, Non-GAAP operating loss and Non-GAAP total other income (expense), net with the most directly comparable GAAP financial measures. See above for additional information on the use of these non-GAAP financial measures.

  Three Months Ended December 31,   Years Ended December 31,   2025       2024       2025       2024   NET LOSS $ (52,922 )   $ (52,345 )   $ (198,209 )   $ (190,175 ) Depreciation   7,308       5,854       25,369       20,367   Amortization   7,436       3,285       18,566       13,288   Stock-based compensation expense   18,205       16,872       71,099       56,816   Transaction costs   767       2,187       12,271       2,594   Interest expense   5,019       6,714       26,489       26,179   Interest income   (9,589 )     (4,936 )     (25,512 )     (22,225 ) Change in fair value of contingent consideration   (10,624 )     —       (10,624 )     (218 ) Provision (benefit) for income taxes   11,278       675       (27,688 )     764   Loss (gain) on foreign exchange   228       (378 )     463       87   Accretion of marketable securities and cash equivalents purchased at a discount   (658 )     (650 )     (2,468 )     (2,922 ) Loss (gain) on disposal of assets   257       (472 )     2,613       (2,828 ) Employee retention credit   —       —       515       —   Loss on extinguishment of debt   5,926       —       5,926       1,330   ADJUSTED EBITDA $ (17,369 )   $ (23,194 )   $ (101,190 )   $ (96,943 )                                   Three Months Ended December 31,   Years Ended December 31,   2025       2024       2025       2024   GAAP Gross profit $ 68,232     $ 36,817     $ 207,181     $ 116,149   Stock-based compensation   5,282       6,452       17,633       16,657   Amortization of purchased intangibles and favorable lease   6,069       1,751       13,841       6,998   Employee retention credit   —       —       278       —   Non-GAAP Gross profit $ 79,583     $ 45,020     $ 238,933     $ 139,804   Non-GAAP Gross margin   44.3 %     34.0 %     39.7 %     32.0 %                 GAAP Research and development, net $ 78,779     $ 48,255     $ 270,716     $ 174,394   Stock-based compensation   (6,017 )     (1,966 )     (22,072 )     (15,626 ) Amortization of purchased intangibles and favorable lease   —       (226 )     (329 )     (912 ) Employee retention credit   —       —       (88 )     —   Non-GAAP Research and development, net $ 72,762     $ 46,063     $ 248,227     $ 157,856                   GAAP Selling, general and administrative $ 40,495     $ 40,111     $ 165,303     $ 131,556   Stock-based compensation   (6,906 )     (8,454 )     (31,394 )     (24,533 ) Amortization of purchased intangibles and favorable lease   (1,096 )     (1,046 )     (3,346 )     (4,320 ) Transaction costs   (767 )     (2,187 )     (12,271 )     (2,594 ) Change in fair value of contingent consideration   —       —       —       218   Employee retention credit   —       —       (149 )     —   Non-GAAP Selling, general and administrative $ 31,726     $ 28,424     $ 118,143     $ 100,327                   GAAP Operating expenses $ 119,274     $ 88,366     $ 436,019     $ 305,950   Stock-based compensation   (12,923 )     (10,420 )     (53,466 )     (40,159 ) Amortization of purchased intangibles and favorable lease   (1,096 )     (1,272 )     (3,675 )     (5,232 ) Transaction costs   (767 )     (2,187 )     (12,271 )     (2,594 ) Change in fair value of contingent consideration   —       —       —       218   Employee retention credit   —       —       (237 )     —   Non-GAAP Operating expenses $ 104,488     $ 74,487     $ 366,370     $ 258,183                   GAAP Operating loss $ (51,042 )   $ (51,549 )   $ (228,838 )   $ (189,801 ) Total non-GAAP adjustments   26,137       22,082       101,401       71,422   Non-GAAP Operating loss $ (24,905 )   $ (29,467 )   $ (127,437 )   $ (118,379 )                 GAAP Total other income (expense), net $ 9,398     $ (121 )   $ 2,941     $ 390   Loss (gain) on foreign exchange   228       (378 )     463       87   Loss (gain) on disposal of assets   257       (472 )     2,613       (2,828 ) Loss on extinguishment of debt   5,926       —       5,926       1,330   Change in fair value of contingent consideration   (10,624 )     —       (10,624 )     —   Non-GAAP Total other income (expense), net $ 5,185     $ (971 )   $ 1,319     $ (1,021 )