Rocket Lab USA, Inc. (RKLB) Income Statement
RKLB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRKLB revenue and net income
Where RKLB's revenue goes
2025Each bar shows an amount and its share of revenue. RKLB kept −32.9% of revenue as net income.
RKLB profit margins
RKLB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +38.0% | +41.8% | +76.5% | — |
| Gross profit | +78.4% | +121.8% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RKLB quarterly EPS vs estimates
Rocket Lab beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 9, 2026 (estimate $-0.05).
RKLB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $601.8M | $436.2M | $244.6M | $211.0M | $62.2M | $35.2M | $48.4M |
| Cost of revenue | $394.6M | $320.1M | $193.2M | $192.0M | $64.1M | $47.0M | $49.5M |
| Gross profit | $207.2M | $116.1M | $51.4M | $19.0M | −$1.9M | −$11.8M | −$1.1M |
| Research & development | $270.7M | $174.4M | $119.1M | $65.2M | $41.8M | $19.1M | $12.7M |
| Sales, general & admin | $165.3M | $131.6M | $108.4M | $89.0M | $58.4M | $24.0M | — |
| Total operating expenses | $436.0M | $305.9M | $229.3M | $154.2M | $100.2M | $43.1M | $31.7M |
| Operating income | −$228.8M | −$189.8M | −$177.9M | −$135.2M | −$102.1M | −$55.0M | −$32.9M |
| Interest income | $25.5M | $22.2M | $13.3M | — | — | — | — |
| Interest expense | $26.5M | $4.0M | $4.2M | $7.8M | $6.1M | $417,000 | $0 |
| Income before taxes | −$225.9M | −$189.4M | −$178.9M | −$132.9M | −$124.8M | −$54.5M | −$30.0M |
| Income taxes | −$27.7M | $764,000 | $3.6M | $3.0M | −$7.5M | $467,000 | $354,000 |
| Net income | −$198.2M | −$190.2M | −$182.6M | −$135.9M | −$117.3M | −$55.0M | −$30.4M |
| EBITDA | −$155.5M | −$151.8M | −$144.9M | −$95.2M | −$107.9M | −$45.6M | −$28.0M |
| EPS (diluted) | −$0.37 | −$0.31 | −$0.25 | −$0.21 | −$1.18 | −$1.12 | −$1.76 |
| Gross margin | 34.4% | 26.6% | 21.0% | 9.0% | −3.0% | −33.6% | −2.2% |
| Operating margin | −38.0% | −43.5% | −72.7% | −64.1% | −164.0% | −156.3% | −68.0% |
| Net margin | −32.9% | −43.6% | −74.6% | −64.4% | −188.5% | −156.4% | −62.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $234.1M | $200.3M | $179.7M | $155.1M | $144.5M | $122.6M | $132.4M | $104.8M | $106.3M | $92.8M | $60.0M | $67.7M |
| Cost of revenue | $149.5M | $123.9M | $111.4M | $97.8M | $98.1M | $87.3M | $95.6M | $76.8M | $79.1M | $68.6M | $44.5M | $52.7M |
| Gross profit | $84.6M | $76.5M | $68.2M | $57.3M | $46.4M | $35.2M | $36.8M | $28.0M | $27.2M | $24.2M | $15.3M | $15.0M |
| Research & development | $82.4M | $80.5M | $78.8M | $70.7M | $66.1M | $55.1M | $48.3M | $47.7M | $39.9M | $38.5M | $37.5M | $26.6M |
| Sales, general & admin | $59.7M | $51.9M | $40.5M | $45.6M | $39.9M | $39.3M | $40.1M | $32.2M | $30.5M | $28.7M | $25.9M | $27.2M |
| Total operating expenses | $142.1M | $132.5M | $119.3M | $116.3M | $106.0M | $94.4M | $88.4M | $79.9M | $70.4M | $67.3M | $63.2M | $53.8M |
| Operating income | −$57.5M | −$56.0M | −$51.0M | −$59.0M | −$59.6M | −$59.2M | −$51.5M | −$51.9M | −$43.3M | −$43.1M | −$47.9M | −$38.9M |
| Interest income | $16.5M | $10.1M | — | — | $5.0M | $4.2M | — | — | — | — | — | — |
| Interest expense | $581,000 | $1.3M | $5.0M | $590,000 | $2.4M | $2.6M | $1.8M | $454,000 | $824,000 | $898,000 | $1.4M | $1.4M |
| Income before taxes | −$43.9M | −$46.8M | −$41.6M | −$59.3M | −$63.5M | −$61.4M | −$51.7M | −$51.0M | −$42.5M | −$44.3M | −$49.5M | −$39.2M |
| Income taxes | $5.3M | −$1.8M | $11.3M | −$41.1M | $2.9M | −$813,000 | $675,000 | $944,000 | −$860,000 | $5,000 | $1.0M | $1.4M |
| Net income | −$49.3M | −$45.0M | −$52.9M | −$18.3M | −$66.4M | −$60.6M | −$52.3M | −$51.9M | −$41.6M | −$44.3M | −$50.5M | −$40.6M |
| EBITDA | −$22.4M | −$30.7M | −$21.9M | −$47.0M | −$52.3M | −$50.1M | −$40.8M | −$42.4M | −$33.6M | −$35.0M | −$39.9M | −$30.0M |
| EPS (diluted) | −$0.06 | −$0.02 | −$0.10 | −$0.02 | −$0.13 | −$0.12 | −$0.10 | −$0.07 | −$0.08 | −$0.06 | −$0.10 | −$0.04 |
| Gross margin | 36.1% | 38.2% | 38.0% | 37.0% | 32.1% | 28.8% | 27.8% | 26.7% | 25.6% | 26.1% | 25.5% | 22.1% |
| Operating margin | −24.6% | −27.9% | −28.4% | −38.0% | −41.3% | −48.3% | −38.9% | −49.5% | −40.7% | −46.4% | −79.8% | −57.4% |
| Net margin | −21.0% | −22.5% | −29.5% | −11.8% | −46.0% | −49.5% | −39.5% | −49.6% | −39.2% | −47.7% | −84.2% | −60.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RKLB's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RKLB financial results
In fiscal year 2025 (ended December 31, 2025), Rocket Lab reported revenue of $601.8 million, up 38.0% from the year before. It had a net loss of $198.2 million, a net profit margin of −32.9%. Diluted earnings per share came to −$0.37. Over five years revenue grew at an average rate of 76.5% a year.
See the RKLB stock overview for the latest quote and news, or the RKLB chart for price history and technical indicators.
RKLB income statement FAQ
What is Rocket Lab's annual revenue?
Rocket Lab reported total revenue of $601.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 38.0% from $436.2 million the previous year.
Is Rocket Lab profitable?
No. Rocket Lab reported a net loss of $198.2 million in fiscal 2025, a net profit margin of −32.9%; its operating margin was −38.0%.
What is Rocket Lab's gross margin?
Rocket Lab's gross margin was 34.4% in fiscal 2025: for every $100 of revenue, Rocket Lab kept $34 after the direct cost of its products and services.
How much does Rocket Lab spend on research and development?
Rocket Lab spent $270.7 million on research and development in fiscal 2025, 45.0% of revenue.
How fast is Rocket Lab growing?
Revenue grew 76.5% a year on average over the last five fiscal years, from $35.2 million to $601.8 million.
What are Rocket Lab's earnings per share?
Rocket Lab earned $-0.37 per diluted share in fiscal 2025, compared with $-0.31 a year earlier.
When will Rocket Lab report its next earnings?
Rocket Lab is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Rocket Lab's fiscal year end?
Rocket Lab's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.