Filing Flows › Rocket Lab (RKLB) › Q3 2025
Rocket Lab (RKLB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Rocket Lab (RKLB) reported revenue of $155M for the third quarter 2025 (Q3 2025), +48% from a year earlier and +7% from the quarter before. Operating margin was -38.0%, net loss $18.3M (11.8% of revenue).
Rocket Lab, Q3 2025: revenue $155M (+48% year over year), operating margin -38.0%, net loss $18.3M, operating cash flow −$23.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $155M | +7% | +48% |
| Operating profit | −$59.0M | — | — |
| Net earnings | −$18.3M | — | — |
| Operating cash flow | −$23.5M | — | — |
What changed
Revenue was $155.1M in Q3 2025, up 48% year over year and up 7% from the previous quarter. Product revenues was the largest line at 67% of revenue. Service revenues added $25.6M year over year (up 101%), 51% of the total change.
Gross margin was 37.0%, up 10.2 points from a year earlier. Operating costs exceeded revenue by $59.0M, an operating margin of -38.0%. Operating expenses grew 46% against revenue growth of 48%. The fastest-growing cost line was Research & development (+48%). The quarter ended with a net loss of $18.3M, narrower than the previous quarter's $66.4M loss.
Operating cash flow was −$23.5M. Non-cash charges added back $11.7M of depreciation and amortization and $15.7M of share-based compensation. Working capital and other items used $32.7M. Capital expenditures of $45.9M exceeded it, leaving free cash flow of −$69.4M.
Questions
What was Rocket Lab's revenue in the third quarter 2025?
Rocket Lab (RKLB) reported revenue of $155M for the third quarter 2025 (Q3 2025), +48% from a year earlier and +7% from the quarter before.
Was Rocket Lab profitable in the third quarter 2025?
Operating loss was $59.0M (-38.0% of revenue) and net loss $18.3M.
Source: Rocket Lab 10-Q on SEC EDGAR.