Rocket Lab Q2 revenue beats, but loss was deeper than expected
The shares have been on fire, rising more than 800% over the last 12 months.
Retail favorite and massive market gainer Rocket Lab reported Q2 numbers after the close Thursday.
The provider of rocket launch services for the satellite industry reported:
A non-GAAP loss of $0.13 a share vs. the consensus expectation for a $0.10 loss, according to FactSet.
Revenues of $144.5 million vs. Wall Street expectations for $135.4 million.
Rocket Lab lifted Q3 revenue guidance to a range of $145 million to $155 million, in line with Wall Street expectations for $150.3 million.
Shares were mostly unchanged after-hours.
Rocket Lab has been on a remarkable run over the last year. At points last month, it was up roughly 900% over the prior 12 months. The stock really began to run after the remarkably public feud erupted between Tesla CEO Elon Musk — whose side hustle, SpaceX, is the dominant player in the space industry — and President Donald Trump.
As Rocket Lab CEO Peter Beck told Sherwood News late last year, the company positioned itself in part as a reliable option for governments that might be leery of relying too heavily on SpaceX for launch services. It seems clear that some traders have seen souring relations between Musk and the Trump administration — Trump himself threatened to strip SpaceX of lucrative government contracts in the wake of the falling out — as a business opportunity for Rocket Lab.
