Rocket Lab USA (NASDAQ: RKLB) shares plunged 12.4% in after-hours trading Thursday after the space company released its fourth-quarter earnings. The report showed a wider-than-expected loss and offered first-quarter guidance that fell short of Wall Street estimates.
For Q4 2024, the Long Beach, California-based space company posted a loss of $0.10 per share, slightly worse than the analysts’ expectations of $0.09 per share. On the revenue front, the company outperformed, posting $132.4 million compared to the consensus estimate of $129.61 million. That marked an impressive 382% increase from the $27.5 million recorded in Q4 2021.
However, Rocket Lab’s guidance for Q1 2025 rattled investors. The company expects revenue to range between $117 million and $123 million—well below the $136.4 million analysts were counting on. The weaker-than-expected outlook cast a shadow over an otherwise solid 2024 performance.
“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 founder and CEO Peter Beck. He highlighted the company’s 16 Electron launches in 2024, a 60% increase from the prior year, as a major achievement.
Despite the revenue growth, Rocket Lab’s losses widened. The company reported a net loss of $190.2 million for 2024, compared to $182.6 million in 2023. At the end of the year, Rocket Lab had $271 million in cash and cash equivalents on its balance sheet.
Rocket Lab (NASDAQ: RKLB) also shared updates on its Neutron rocket program, which is on track for a debut launch in the second half of 2025. Additionally, the company introduced Flatellite, a new satellite platform designed for mass production to support large satellite constellations. For Q1 2025, the company expects an adjusted EBITDA loss between $33 million and $35 million.
