Slide 1: Q1 2023 Investor Update
Rocket Lab USA, Inc. Q1 2023 Investor Update May 9, 2023 rocketlabusa.com
Slide 2: Forward Looking Statements
F O R WA R D L O O K I N G S TAT E M E N T S Forward Looking Statements This presentation may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securit
Slide 3: Today's Presenters
T O D AY ’ S PRESENTERS Peter Beck Adam Spice Founder, Chief Executive Officer, Chief Engineer Chief Financial Officer 3
Slide 4: Agenda
Agenda 1 Key Accomplishments Q1 2023 2 Additional Accomplishments Q2 2023 3 Financial Highlights and Outlook 4 Q&A and Upcoming Events 4
Slide 5: Key accomplishments Q1 2023
SECTION Key accomplishments Q1 2023 5
Slide 6: Key accomplishments Q1 2023
Key accomplishments Q1 2023 3 7 days Successful Electron missions for Between two missions from two commercial customers from countries in March 2023, our fastest Virginia and New Zealand. launch turnaround ever. Multiple new missions Neutron payment Strong space systems quarter booked on Electron i
Slide 7: Three successful launches in Q1
Key Accomplishments Q1 2023 THREE successful launches in q1 Electron is the only U.S. commercial small launch vehicle to successfully deliver satellites to orbit in 2023. March 14 15 16 17 18 19 20 21 22 23 24 25 26 2023 3 Satellites 2 Satellites 2 Satellites Launch Complex 2 Launch Complex 2 Launch
Slide 8: Multi-launch deal signed with Capella Space
Key Accomplishments Q1 2023 M u lt i - l a u n c h deal signed with c a p e l l a s pa c e Following successful launch in February 2023, Capella Space sign up for four more dedicated missions on Electron. The multi-rocket launch commitment demonstrates our proven ability to deliver streamlined acces
Slide 9: Neutron vehicle development
Key Accomplishments Q1 2023 Neutron vehicle development Full scale Neutron Stage 1 moulds completed, currently in preparation to laminate full-scale Stage 1 tanks. Full scale Neutron Stage 2 undergoing assembly, incl. all composite parts ahead of Q2 flight hardware tank test.q Received U.S. Space Fo
Slide 10: Neutron engine development
Key Accomplishments Q1 2023 Neutron ENGINE development Key engine development hardware printed to scale incl. injectors and combustion chambers, proving out advanced q additive manufacturing technique for Archimedes engines. 10
Slide 11: Neutron infrastructure expansion
Key Accomplishments Q1 2023 Neutron infrastructure e x pa n s i o n Test stand infrastructure completed for Neutron Stage 2 tank ahead of flight hardware performance testing in Q2. Large 3-D printing machines for Neuton’s Archimedes engine and fluid components q received, commissioned, and in use at
Slide 12: Neutron flight simulations and software testing successful
Key Accomplishments Q1 2023 Neutron F l i g h t s i m u l at i o n s & s o f t wa r e t e s t i n g successful GNC & software teams are flying successful simulated missions to a range of orbits and mission profiles with our guidance, navigation and control and telemetry software set to the current v
Slide 13: Strong quarter for space systems
Key Accomplishments Q1 2023 Strong quarter f o r s pa c e s y s t e m s 8 18 LAUNCHES SPACECRAFT Rocket Lab satellite components or software were featured on 18 spacecraft launched across eight missions globally in Q1 2023. Satellites launched in Q1 featuring Rocket Lab space systems components or s
Slide 14: New major contracts signed in solar solutions
Key Accomplishments Q1 2023 NEW MAJOR CONTRACTS SIGNED in solar solutions Experienced continued momentum in new orders with space primes and long-term supply agreements with new customers. Major production milestones completed in Q1’23’, including shipment of thousands of solar cells in support of u
Slide 15: Twin spacecraft for NASA mission to Mars
Key Accomplishments Q1 2023 T w i n s pa c e c r a f t for nasa mission to mars Launch date set for two Rocket Lab Photon spacecraft that will support the ESCAPADE mission to study Mars. Launch date to Mars has been set by NASA for late 2024 and will be Rocket Lab’s first Photon spacecrafts delivere
Slide 16: Additional accomplishments
SECTION Additional accomplishments After March 31, 2023 16
Slide 17: First NASA TROPICS launch a success
Additional Accomplishments Q2 2023 First NASA tropics launch A success Second TROPICS launch for NASA only days away. ‘Rocket Like A Hurricane’ successfully deployed two TROPICS satellites to low Earth orbit for NASA on May 8, 2023 from Rocket Lab Launch Complex 1. The second TROPICS launch is sched
Slide 18: Another NASA mission added to Electron's manifest
Additional Accomplishments Q2 2023 Another nasa mission added to electron’s manifest Rocket Lab will launch four small sats for NASA’s Starling mission on an accelerated launch timeline within three months of contract signing. Starling is NASA’s first multi-CubeSat mission to test and demonstrate au
Slide 19: New contracts signed for dedicated and rideshare launches
Additional Accomplishments Q2 2023 new contracts s i g n e d f o r d e d i c at e d & rideshare launches Multiple new launch contracts signed for undisclosed commercial satellite customers. Several satellites remanifested to Electron’s 2023 launch manifest from another small launch provider. 19
Slide 20: New hypersonics market unlocked
Additional Accomplishments Q2 2023 New hypersonics market unlocked HASTE launch vehicle for hypersonic and suborbital missions ready to launch now from Launch Complex 2. Prime outsourcing opportunity Hypersonic capabilities enable customer execution at intersection of fast-growing Space and Science
Slide 21: Rutherford engine re-flight
Additional Accomplishments Q2 2023 Rutherford engine re-flight For the first time, we’re going to launch a pre-flown 3D printed Rutherford engine. Previously flown on the ‘There And Back Again’ mission in May 2022, the reusable Rutherford engine will support another launch in Q3, 2023. This engine h
Slide 22: Custom-built Photon spacecraft completed
Additional Accomplishments Q2 2023 C u s t o m - b u i lt p h o t o n s pa c e c r a f t completed First of four Photon spacecraft delivered for Varda Space to enable in-space pharmaceutical manufacturing. The Rocket Lab-designed and built Photon spacecraft will provide power, propulsion, communicat
Slide 23: New star tracker launched
Additional Accomplishments Q2 2023 n e w s ta r t r a c k e r launched The ST-16HV for satellite constellations is now commercially available. The mass-producible ST-16HV is designed to meet the short lead time needs of both commercial and government satellite constellation projects. The ST-16HV sta
Slide 24: Financial highlights and outlook
SECTION Financial highlights and outlook
Slide 25: Review of revenue and gross margin
REVIEW OF REVENUE AND GROSS MARGIN Quarter-on-Quarter Sequential revenue increase of 6%, or $3.1M, driven by increased launch cadence and improvement in launch pricing. Space Systems revenue was above the high end of guidance despite Photon seasonality related to revenue recognition dynamics. $ 5 4
Slide 26: Review of operating expenses
R E V I E W O F O P E R AT I N G EXPENSES Quarter-on-Quarter GAAP SG&A expense increases were driven primarily by outside services for FY22 audit and related compliance expenses, staff related costs, including stock-based compensation, and change in contingent consideration, partially offset by empl
Slide 27: Ending cash and non-GAAP free cash flow metrics
Ending Cash and Non- GAAP Free cash flow metrics Quarter-on-Quarter $450M in cash and cash equivalents, and restricted cash, end of period in Q1 2023. Non-GAAP Free Cash Flow Activities Cash consumed from Operations increased $6.4M sequentially, driven primarily by increased investment Q4 2022 Q1 20
Slide 28: Financial outlook
FINANCIAL OUTLOOK Q2 2023 Revenue Q2 2023 GAAP and Non-GAAP Q2 2023 GAAP and Non-GAAP Q2 2023 Adjusted EBITDA Outlook Gross Margins Operating Expense • Expect revenue to range • Expect GAAP gross margin to • Expect GAAP Operating • Expect Interest Expense between $60 million to $63 range between 14
Slide 29: Q&A
Slide 30: Upcoming Events
UPCOMING Events Stifel Cross Sector Wells Fargo Industrials ROTH Insight Conference Conference London Conference June 7, 2023 June 14, 2023 June 21, 2023 Adam Spice Adam Spice Adam Spice Chief Financial Officer Chief Financial Officer Chief Financial Officer
Slide 31: Rocket Lab
— ROCKETLAB