Filing Flows › Rocket Lab (RKLB) › Q4 2025
Rocket Lab (RKLB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Rocket Lab (RKLB) reported revenue of $180M for the fourth quarter 2025 (Q4 2025), +36% from a year earlier and +16% from the quarter before. Operating margin was -28.4%, net loss $52.9M (29.5% of revenue).
Rocket Lab, Q4 2025: revenue $180M (+36% year over year), operating margin -28.4%, net loss $52.9M, operating cash flow −$64.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $180M | +16% | +36% |
| Operating profit | −$51.0M | — | — |
| Net earnings | −$52.9M | — | — |
| Operating cash flow | −$64.5M | — | — |
What changed
Revenue was $179.7M in Q4 2025, up 36% year over year and up 16% from the previous quarter. Product revenues was the largest line at 52% of revenue.
Gross margin was 38.0%, up 10.2 points from Q4 2024. Operating costs exceeded revenue by $51.0M, an operating margin of -28.4%. Operating expenses grew 35% against revenue growth of 36%. The fastest-growing cost line was Research & development (+63%). The quarter ended with a net loss of $52.9M, wider than the previous quarter's $18.3M loss. Non-operating items added $9.4M, -23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$64.5M. Non-cash charges added back $14.7M of depreciation and amortization and $18.2M of share-based compensation. Working capital and other items used $44.6M. Capital expenditures of $49.7M exceeded it, leaving free cash flow of −$114.2M.
Questions
What was Rocket Lab's revenue in the fourth quarter 2025?
Rocket Lab (RKLB) reported revenue of $180M for the fourth quarter 2025 (Q4 2025), +36% from a year earlier and +16% from the quarter before.
Was Rocket Lab profitable in the fourth quarter 2025?
Operating loss was $51.0M (-28.4% of revenue) and net loss $52.9M.
Source: Rocket Lab 10-K on SEC EDGAR.