Filing Flows › Rocket Lab (RKLB) › Q2 2025
Rocket Lab (RKLB) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Rocket Lab (RKLB) reported revenue of $144M for the second quarter 2025 (Q2 2025), +36% from a year earlier and +18% from the quarter before. Operating margin was -41.3%, net loss $66.4M (46.0% of revenue).
Rocket Lab, Q2 2025: revenue $144M (+36% year over year), operating margin -41.3%, net loss $66.4M, operating cash flow −$23.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $144M | +18% | +36% |
| Operating profit | −$59.6M | — | — |
| Net earnings | −$66.4M | — | — |
| Operating cash flow | −$23.2M | — | — |
What changed
Revenue was $144.5M in Q2 2025, up 36% year over year and up 18% from the previous quarter. Product revenues was the largest line at 64% of revenue. Product revenues added $20.4M year over year (up 28%), 53% of the total change.
Gross margin was 32.1%, up 6.5 points from a year earlier. Operating costs exceeded revenue by $59.6M, an operating margin of -41.3%. Operating expenses grew 51% against revenue growth of 36%. The fastest-growing cost line was Research & development (+66%). The quarter ended with a net loss of $66.4M, wider than the previous quarter's $60.6M loss.
Operating cash flow was −$23.2M. Non-cash charges added back $8.8M of depreciation and amortization and $17.9M of share-based compensation. Working capital and other items added $16.5M. Capital expenditures of $32.0M exceeded it, leaving free cash flow of −$55.3M.
Questions
What was Rocket Lab's revenue in the second quarter 2025?
Rocket Lab (RKLB) reported revenue of $144M for the second quarter 2025 (Q2 2025), +36% from a year earlier and +18% from the quarter before.
Was Rocket Lab profitable in the second quarter 2025?
Operating loss was $59.6M (-41.3% of revenue) and net loss $66.4M.
Source: Rocket Lab 10-Q on SEC EDGAR.