Rocket Lab Corporation (RKLB)
The company now
Rocket Lab's revenue comes from two lines of business: Space Systems at 67 percent and Launch Services at 33 percent in fiscal 2025. By geography, United States revenue is 79 percent, Japan 11 percent, rest of world 7 percent, and Canada 3 percent. Both lines of business grew against the prior year. 41
From the record in brief, written by the desk, an AI model, from the company's record on Oct 21, 2026. Nothing here is advice.
Where the revenue comes from
fiscal 2025, as filedRevenue by line of business, fiscal 2025
| Line of business | Fiscal 2025 | Fiscal 2024 | Share of revenue |
|---|---|---|---|
| Space Systems | $403M | $311M | 66.9% |
| Launch Services | $199M | $125M | 33.1% |
Revenue by region, fiscal 2025
| Region | Fiscal 2025 | Fiscal 2024 | Share of revenue |
|---|---|---|---|
| United States | $475M | $268M | 79.0% |
| Japan | $65.6M | $30.7M | 10.9% |
| Rest of world | $40.6M | $32.8M | 6.7% |
| Canada | $20.2M | $104M | 3.4% |
As tagged in its annual report (Form 10-K, filed Feb 26, 2026 ↗), read from the SEC's financial statement data sets. The year before is the figure the record holds for the prior fiscal year.
The desk's written account of this company, its Past, Present and Future, is not on file yet.
How the company works
The desk has not read this company's annual report yet.
The record in brief
five sections from the recordBy the desk, an AI model (Claude Haiku 4.5), written from the company's record on Oct 21, 2026; nothing here is advice. Every sentence rests on the numbered source beside it, and a sentence the record did not support was cut before the report was kept.
A newer quarterly report (Form 10-Q, filed 2026-11-09) and current report (Form 8-K, filed 2026-11-09) is on file; this report was written before it, and the desk writes it again on request.
Past
Rocket Lab's revenue grew from $35 million in fiscal 2020 to $602 million in fiscal 2025, rising 76.5 percent a year over six filed years and rising in all five years year over year. The company has not been profitable in any of those six years. Its filings since 2020 show four warning events, including a warning not to rely on past financial statements in 2021, an auditor change in 2021, and two late-report notices, the latest in 2023. Six years earlier in fiscal 2019 the company's net worth was minus $119 million , so it has moved from underwater to positive on paper. Insiders have sold $683.3 million of their own shares and bought nothing on the open market since filings began in 2022. 123
Present
Rocket Lab reported revenue of $602 million and a loss of $198 million for the fiscal year ended 2025-12-31. Its net worth on the books is $1.72 billion as of that date. Cash and near-cash are $834 million, and borrowings due beyond a year are $2 million. 42
The company lost about 12 cents for every dollar of shareholders' money, its products earned about 9 cents per dollar of everything it owns, it owed about 26 cents per dollar of assets, and its share count grew 7.0 percent over the year. Among seven graded names in its industry family, the company's $602 million revenue ranks in the top 36 percent by size, its net margin of minus 32.9 percent ranks in the top 36 percent, and revenue growth of 41.8 percent a year over the last three filed years ranks in the top 36 percent. 1
Chief executive Peter Beck has held that title since 2021-09-07, 5.1 years. The 13 officers and directors filing in the last fifteen months have been on the record a median of 4.5 years, and 10 officer or director changes were reported since 2023-10-21. 1
Future
The quarterly report for the quarter ending 2026-09-30 is due by 2026-11-09. The annual report for the fiscal year ending 2026-12-31 is due by 2027-03-01. 5
A merger communication was filed on 2026-09-15. A merger or exchange offer registration was amended on 2026-08-24. A merger or exchange offer was registered on 2026-08-13. A major agreement was signed on or before 2026-06-28. 5
Cash of $834 million against debt of $2 million leaves 35.8 percent of its assets as net cash, in the top 36 percent of its family; cash from operations less capital spending is minus 53.5 percent of revenue; a gross margin of 34.4 percent ranks in the top 21 percent; research spending of 45 percent of revenue ranks in the top 36 percent. 1
How the company operates
Rocket Lab's revenue comes from two lines of business: Space Systems at 67 percent and Launch Services at 33 percent in fiscal 2025. By geography, United States revenue is 79 percent, Japan 11 percent, rest of world 7 percent, and Canada 3 percent. Both lines of business grew against the prior year. 41
New moves
On 2026-10-14 the company filed a Form 8-K disclosing investor information under Regulation FD. On the same date MarketWatch reported that Rocket Lab's stock slides as the company pushes back Neutron's first launch. 56
Sources
a number beside a sentence opens its entry in its own document's listThe record in brief 6 sources · written Oct 21, 2026
- RKLB: the nine metricsthis site's record
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Track record (past, graded 6.3 of 10, weighs 45% of the past): Rocket Lab Corporation's 6 filed years say what it did: revenue went from $35 million in fiscal 2020 to $602 million in fiscal 2025, up 76.5% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 0 of 6 of those years (its annual reports).
Surviving crises (past, graded 2.8 of 10, weighs 33% of the past): Rocket Lab Corporation's filings since 2020 show 4 warning events of 3 kinds: a warning not to rely on past financial statements (8-K item 4.02, the latest 2021-05-03); an auditor change (8-K item 4.01, the latest 2021-08-31); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2023-03-01) (its current reports).
Financial health (present, graded 7.1 of 10, weighs 45% of the present): Return on equity: in the fiscal year ended 2025-12-31, Rocket Lab Corporation lost about 12 cents for every dollar of shareholders' money, and gross profitability: its products earned about 9 cents per dollar of everything the company owns. Leverage: it owed about 26 cents per dollar of assets, and net share issuance: its sha
Industry position (present, graded 6.4 of 10, weighs 33% of the present): Rocket Lab Corporation's standing among 7 graded names in its industry family: revenue of $602 million in fiscal 2025 ranks in the top 36% by size; a net margin of -32.9% ranks in the top 36%; revenue growth of 41.8% a year over the last 3 filed years ranks in the top 36% (its annual reports).
Leadership (present, graded 1.5 of 10, weighs 22% of the present): Rocket Lab Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Beck, Peter (CEO, as filed), filing under that title since 2021-09-07, 5.1 years (bottom 10% of its family); the 13 officers and directors filing in the last fifteen months have been on the record a median o
Leadership (present, graded 1.5 of 10, weighs 22% of the present): Rocket Lab Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Beck, Peter (CEO, as filed), filing under that title since 2021-09-07, 5.1 years (bottom 10% of its family); the 13 officers and directors filing in the last fifteen months have been on the record a median o
Room to expand (future, graded 6.8 of 10, weighs 45% of the future): Rocket Lab Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $834 million against debt of $2 million leaves 35.8% of its assets as net cash, top 36% of its family; cash from operations less capital spending is -53.5% of revenue (top 36%); a gross margin of 34.4% (top 21%); research spending of 45
Rocket Lab Corporation reported 2 lines of business in fiscal 2025: Space Systems at $403 million (67%), Launch Services at $199 million (33%); 2 of 2 grew against the year before (its annual report).
- RKLB: net worth, from the balance sheeta filing
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In fiscal 2019, 6 filed years earlier, the net worth was minus $119 million.
Shareholders' equity, or book value, the net worth on its own books: $1.72 billion as of 2025-12-31, what it owns minus what it owes (the filed figure, us-gaap:StockholdersEquity, Form 10-K filed 2026-02-26).
Cash and near-cash $834 million; borrowings due beyond a year $2 million at the same year end.
- RKLB: insiders and the paper traila filing
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Insiders (Forms 4): 216 sales and 0 open-market purchases of their own shares on the record; $683.3 million sold and $0 million bought where the filings price the trade; by year: 2022 bought $0M sold $7M, 2023 bought $0M sold $2.3M, 2024 bought $0M sold $106.5M, 2025 bought $0M sold $329.7M, 2026 bought $0M sold $527.5M.
- RKLB: the company filethis site's record
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In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $602 million and a loss of $198 million (its filed statements).
Where the revenue comes from, fiscal 2025, as tagged in its annual report (Form 10-K, filed 2026-02-26): lines of business: Space Systems 67%, Launch Services 33%; by geography: United States 79%, Japan 11%, Rest of world 7%, Canada 3%.
- RKLB: the filing record, ten yearsa filing
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Deadline ahead: Quarterly report (Form 10-Q) for the quarter ending 2026-09-30 is due by 2026-11-09; large accelerated filers have 40 days after the quarter ends; quarter ends are taken to the month end.
Deadline ahead: Annual report (Form 10-K) for the fiscal year ending 2026-12-31 is due by 2027-03-01; large accelerated filers have 60 days after the fiscal year ends.
Document: https://www.sec.gov/Archives/edgar/data/1819994/000181999426000067 2026-09-15: Form 425, Merger communication. Track record: a merger communication.
Document: https://www.sec.gov/Archives/edgar/data/1819994/000175392626001639 2026-08-24: Form S-4/A, Merger or exchange registration, amended. Track record: a merger or exchange offer registered.
Document: https://www.sec.gov/Archives/edgar/data/1819994/000175392626001454 2026-08-13: Form S-4, Merger or exchange registration. Track record: a merger or exchange offer registered.
Document: https://www.sec.gov/Archives/edgar/data/1819994/000175392626001087 2026-06-29: Form 8-K, Current report (Major agreement signed, item 1.01; Investor disclosure (Regulation FD), item 7.01), for the period ended 2026-06-28. Track record: a major agreement signed.
2026-10-14: Form 8-K, Current report (Investor disclosure (Regulation FD), item 7.01; Other event, item 8.01). The news lane: a disclosure to investors under Regulation FD.
- RKLB: the alerts of the last thirty days (headlines only; the desk has not read the articles)this site's record
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2026-10-14, MarketWatch, top stories: "Rocket Lab’s stock slides as the company pushes back Neutron’s first launch" 2026-10-14, SEC EDGAR, current 8-K filings: "Rocket Lab Corporation filed a Form 8-K"