Slide 1: Q1 2025 Investor Update
Q1 2025 INVESTOR UPDATE May 8, 2025 Sir Peter Beck, CEO & Adam Spice, CFO
Slide 2: Forward Looking Statements
FORWARD Forward Looking Statements Exchange Commission (the “SEC”), including under the heading “Risk Factors” in Rocket Lab’s Annual Report on Form 10-K for the fiscal year ended December This presentation may contain certain “forward-looking statements” within the 31, 2024, which was filed with th
Slide 3: Full Space Value Chain
OVERVIEW FULL FUTURE SPACE VALUE NEAR NEUTRON FLATELLITE CHAIN Everything we’re doing feeds into PRESENT our strategic vision of delivering our own services from space with our own satellite constellation. LAUNCH (SMALL, MEDIUM, HYPERSONIC) SPACECRAFT | COMPONENTS 3 Rocket Lab | Q1 2025 Financial Up
Slide 4: 2025 To Date: Highlights
OVERVIEW 2025 TO DATE: HIGHLIGHTS F I N A N C E E L E C T R O N N E U T R O N S P A C E S Y S T E M S LAUNCHED NSSL FIVE, Neutron onramped to the Department of Defense’s most competitive launch program for BOOKED its highest priority missions. $122.6m Q1 2025 revenue, one of our EIGHT 100% mission s
Slide 5: Electron
SECTION 01 ELECTRON
Slide 6: 100% Mission Success for Multiple Customers
ELECTRON 100% MISSION SUCCESS FOR MULTIPLE CUSTOMERS Busy launch quarter with five Electron remains the global missions for Earth-imaging, leader in orbital small launch, monitoring and intelligence, second most-frequently and global wildfire detection. launched U.S. rocket, and one of only two U.S.
Slide 7: A Decade of Small Launch
ELECTRON A DECADE TEN YEARS OF AMERICAN DEDICATED SMALL LAUNCH 2015-NOW* OF SMALL LAUNCH Electron has completed 3x more successful launches than all other American small launch providers combined in the last decade. 7 Rocket Lab | Q1 2025 Financial Update *Successful and attempted orbital and suborb
Slide 8: New Hypersonic Contracts
HASTE NEW HYPERSONIC CONTRACTS HASTE onramped to Launch contract awarded in Q1 compete for multiple 2025 for MACH-TB 2.0 – the defense contracts: first full-scale flight test • $46b EWAAC with US Air awarded by Kratos for the Force. program. • ~$1.3b (£1b) HTCDF with United Kingdom’s Ministry Seven
Slide 9: Neutron
SECTION 02 NEUTRON
Slide 10: Neutron Added to $5.6B NSSL Program
NEUTRON NEUTRON ADDED TO $5.6B NSSL PROGRAM Neutron selected for The selection affirms Rocket onboarding to U.S. Space Lab as one of America’s most Force’s National Security Space capable launch providers. Launch (NSSL) Phase 3 Lane 1 Rocket Lab is one of only five program - $5.6b firm-fixed onboard
Slide 11: New Launch Contract for U.S. Air Force
NEUTRON NEW LAUNCH CONTRACT FOR U.S. AIR FORCE The mission for the U.S. Air This latest launch contract & Force Research Laboratory selection to NSSL signifies (AFRL) will execute a Neutron as one of the most survivability experiment for a anticipated and capable new rocket-based point-to-point rock
Slide 12: Stage 2 Qualification Complete
NEUTRON STAGE 2 QUALIFICATION COMPLETE 12 Rocket Lab | Q1 2025 Financial Update
Slide 13: Stage 1 Qualification Underway
NEUTRON STAGE 1 QUALIFICATION UNDERWAY Full flight hardware with all mechanisms, avionics, flight control, and actuators that control the Stage 1 Upper Module. Currently undergoing final qualification. 13 Rocket Lab | Q1 2025 Financial Update
Slide 14: Rocket Assembly in Progress
NEUTRON ROCKET ASSEMBLY IN PROGRESS 14 Rocket Lab | Q1 2025 Financial Update
Slide 15: Neutron Launch Site on Schedule
NEUTRON NEUTRON LAUNCH SITE ON SCHEDULE With the major infrastructure Through Neutron launches, already installed, the team is Launch Complex 3 will be the working through system first launch site in Virginia to activation in preparation for support the NSSL program – major integrated tests and high
Slide 16: Archimedes Engine Testing at Double Capacity
NEUTRON ARCHIMEDES ENGINE TESTING AT DOUBLE CAPACITY Second test cell online, enabling simultaneous test campaigns at Stennis for increased hot fire cadence. 16 Rocket Lab | Q1 2025 Financial Update
Slide 17: Progress to the Launch
NEUTRON PROGRESS TO THE LAUNCH Stage 1 Stage 2 Hungry Stage 2 Stage 1 Flight Engine Flight Flight Hippo Structures Structures Mechanisms Qualification Hardware Hardware Qualification Qualification Qualification Test Program PAD MILESTONES TO MONITOR Launch Regulatory Vehicle Stage 1 Stage 2 Wet Dres
Slide 18: Space Systems
SECTION 03 SPACE Image: Varda SYSTEMS
Slide 19: Mynaric: An Important Element
SPACE SYSTEMS MYNARIC: AN IMPORTANT ELEMENT Working through the process to Supplier to SDA, commercial acquire Mynaric, a leading constellations, primes, defense provider of laser optical and civil government agencies. communications terminals for air, space, and mobile Pending completion, we applic
Slide 20: Flatellite Vertical Integration
SPACE SYSTEMS FLATELLITE Laser Communication VERTICAL INTEGRATION 20 Rocket Lab | Q1 2025 Financial Update
Slide 21: Third Pioneer Spacecraft in Space
SPACE SYSTEMS THIRD PIONEER SPACECRAFT IN SPACE Third Pioneer spacecraft for Varda launched and successfully operating on orbit. Reentry maneuvers to position our W-3 spacecraft to return a third Varda capsule to Earth underway shortly. Fourth Pioneer spacecraft in Varda contract undergoing integrat
Slide 22: Product Expansion
SPACE Systems PRODUCT L - S T A R T - S T A R EXPANSION STARRAY FRONTIER Space RADIOS software Expanded suite of MAX Constellation Customizable, modular space-grade radio Delivers automation F R O N T I E R solar arrays. communications and cybersecurity for systems. constellation on-orbit Short lead
Slide 23: Introducing Rocket Lab Corporation
introducing ROCKET LAB CORPORATION Significant corporate New parent company, Rocket development underway with Lab Corporation, will replace multiple strategic Rocket Lab USA, Inc as the opportunities under active publicly traded company with consideration, including the ticker “RKLB.” international
Slide 24: Financial Highlights and Outlook
SECTION 04 FINANCIAL HIGHLIGHTS AND OUTLOOK
Slide 25: Review of Revenue and Gross Margins
FINANCIAL highlights REVIEW OF REVENUE AND GROSS MARGINS Revenue increased 32.1% or $29.8M year-on-year, driven by an increase in launches from 4 to 5 as well as growth in our Space Systems business, driven primarily by our SDA satellite manufacturing contract and component businesses. $122.6M 32.1%
Slide 26: Review of Backlog
FINANCIAL highlights REVIEW OF BACKLOG Sequential rebalancing in backlog mix as healthy $1.067 BILLION Backlog as of Q1 2025. Launch bookings continue, offset by another strong quarter of Space Systems revenue recognition. Q4’24 Ending Backlog: Q1’25 Ending Backlog: BACKLOG BY SEGMENT BACKLOG BY SEG
Slide 27: Review of Operating Expenses
FINANCIAL highlights REVIEW OF OPERATING EXPENSES QUARTER-ON-QUARTER GAAP & Non-GAAP R&D vs. SG&A Spending $100 $94.4 $88.4 $90 GAAP and Non-GAAP SG&A expense decreased modestly $74.5 $76.8 $80 due primarily to a decrease in software licenses, paired with $39.3 $70 $40.1 a slight step down in non-re
Slide 28: Non-GAAP Free Cash Flow and Adj EBITDA
FINANCIAL highlights NON-GAAP FREE CASH FLOW AND ADJ EBITDA Purchases of property, equipment and capitalized QUARTER-ON-QUARTER software increased $7.2M sequentially to $28.7M as we accelerate our Neutron infrastructure investments across the pad at LC3 at Wallops VA, the second engine $517M in cash
Slide 29: Q2 2025 Outlook
FINANCIAL highlights Q2 2025 OUTLOOK Q2 2025 Q2 2025 GAAP and Q2 2025 GAAP and Q2 2025 Revenue Outlook Non-GAAP Gross Margins Non-GAAP Operating Adjusted EBITDA Expense • Expect revenue to range • Expect GAAP gross margin to • Expect GAAP Operating Expenses • Expect Interest Expense between $130 mil
Slide 30: Q&A
Slide 31: Upcoming Investor Events
FINANCIAL UPCOMING INVESTOR EVENTS Needham Transportation, 2025 Industrials Cross Sector 1x1 William Blair Industrials Virtual Space Technology, Airlines, and & Basic Materials Conference Stock Growth Conference Summit Media, & Industrials Conference Conference 2025 Consumer Conference Conference (V
Slide 32: Thank You
THANK YOU rocketlabusa.com ROCKETLAB