Rocket Lab Doubles Loss, but Revenue Surges

NZ Herald2022-08-12

Rocket Lab reported a net loss of US$37.4 million for the three months to June 30, more than double the US$16.7m it lost for the same period last year.But the Kiwi-American firm also reported revenue ...

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Comments

a1g2r
2022-08-15
a1g2r
Nice
ppp00
2022-08-14
ppp00
Please help to like
Abundance Thankful
2022-08-12
Abundance Thankful
Wow
Mich77
2022-08-12
Mich77
read
asr68
2022-08-12
asr68
Tks
Worpeng2002
2022-08-12
Worpeng2002
Ok

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including its North American staff, Rocket Lab now employs 1400).Its current quarter has seen Rocket Lab launch back-to-back missions for US military intelligence agency the National Reconnaissance Office, and land a contract to supply components for an upgrade to the US military's missile defence system.Rocket Lab reverse-listed at US$10.00 per share last August, and surged as high as US$18.69 before getting caught in the tech wreck downdraft.The firm got a shot in the arm earlier this week with a positive write-up in the Wall Street Journal's influential \"Heard on the Street\" column.The paper praised Rocket Lab's logistical and financial performance and said it should benefit further from a rise in US defence and aerospace spending with Russia's Soyuz off the table (Rocket Lab is now weighing the possibility of building three Neutron rockets in 2024 rather than one).It said Rocket Lab revenue rose 124 per cent to US$41m in the first-quarter (with a pipeline of US$550m of orders) and says its \"responsive launch\" capability was genuine.\"Shortly after Ukraine war, satellite-intelligence firm BlackSky asked Rocket Lab for an orbit change just days before it was due to launch, in order to place its satellites more directly over the conflict zone. While changing such missions has traditionally taken months, Rocket Lab pulled it off in 45 days,\" the Journal says.So why have Rocket Lab's shares been languishing? Today the stock closed flat at US$5.44 for a US$2.5b market cap. 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