Slide 1: Q4 and Full Year 2021 Investor Update
Rocket Lab USA, Inc Q4 and Full Year 2021 INVESTOR UPDATE February 28, 2022 rocketlabusa.com
Slide 2: Disclaimer and Forward Looking Statements
DISCLAIMER AND FORWARD LOOKING STATEMENTS 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 Securities
Slide 3: Today's Presenters
TODAY’S PRESENTERS Peter Beck Adam Spice Founder, Chief Executive Officer, Chief Engineer Chief Financial Officer
Slide 4: Agenda
Agenda 1 Introduction 2 Key Accomplishments 3 Financial Highlights and Outlook 4 Sell-Side Q&A 5 Upcoming Conferences and Events
Slide 5: Key accomplishments 2021
SECTION Key accomplishments 2021
Slide 6: 2021 Key Achievements Snapshot
2021 Key Achievements Snapshot Grew backlog by ~194% from Launched Acquired two leading space systems Commenced Signed multiple contracts with U.S. $82 million to six Electron missions companies and subsequently closed construction government agencies including: $241 million, from end of year despit
Slide 7: Q4 highlights
Q4 highlights Successfully launched Signed three-launch Successfully completed third two missions for contract with ocean recovery of an Electron BlackSky Synspective booster Announced acquisition Closed acquisition of ASI Closed acquisition of of Aerospace LLC (ASI) Planetary Systems Corp. SolAero
Slide 8: Backlog grew from $183M in Q3'21 to $241M in Q4'21
Backlog Backlog grew from $183M in Q3’21 to $241M in Q4’21, to $ 5 4 5 M t o d ay At December 31, 2020, our backlog stood at $82M, ended December 31, 2021 at $241M, and today, our backlog stands at $545M, representing a $463M increase in total backlog since the end of 2020.
Slide 9: Launched six missions in 2021
Key 2021 Accomplishments Launched six missions in 2021 • Including two launches just three weeks apart (Nov 18 – Dec 9, 2021) • Rocket Lab has now launched 23 missions total and deployed 109 satellites to orbit
Slide 10: Acquired two leading space systems companies
Key 2021 Accomplishments Flight Software & GNC Acquired two l e a d i n g s pa c e s y s t e m s c o m pa n i e s and announced intent to acquire a Space Solar Power third which closed Q1 2022 • Building an end-to-end space company by bringing robust spacecraft manufacturing capability and critical
Slide 11: Acquisition strategy: From idea to orbit
Acquisition strategy: From Idea to orbit Rocket Lab’s capabilities now span the space economy An end-to-end space company capturing value from every mission phase 1 2 3 4 5 6 Satellite Design Satellite Flight Software Launch Sites & Launch On-Orbit and Manufacture Components & Testing Ground Station
Slide 12: Rocket Lab across the industry
ROCKET LAB ACROSS THE INDUSTRY DARPA James Webb Space More than 38% of Mandrake Satellites Telescope addressable launches in 2021 globally featured technology created by Rocket Lab companies. 1 Including: OneWeb ISS Resupply Constellation Solar Panels Star Flight Trackers Software Separation Reactio
Slide 13: Supporting 220+ missions in development
Supporting 220+ missions in development Lunar & Through our existing launch and spacecraft programs, and now through our acquisitions, Rocket Lab is Interplanetary supporting hundreds of missions across almost every sector of the rapidly growing space economy Here are just a few… NASA DART mission L
Slide 14: Expanding footprint
E x pa n d i n g footprint With the acquisitions of Sinclair Interplanetary, ASI, PSC, and SolAero, Rocket Lab operates across 5 US states, in addition to New Zealand and Canada
Slide 15: Successfully closed de-spac merger
Key 2021 Accomplishments Successfully closed de-spac + NASA merger transaction With Vector Acquisition Corporation + $777M in gross proceeds from the PIPE and cash from Vector Trust.
Slide 16: Signed multi-launch agreements with three constellation operators
Key 2021 Accomplishments Signed multi-launch agreements with three commercial satellite constellation operators Five dedicated launch deal Five dedicated launch deal Three dedicated launch deal
Slide 17: Awarded $24M Space Force contract to develop Neutron upper stage
Key 2021 Accomplishments Awa r d e d $ 2 4 m s pa c e f o r c e contract to develop Neutron u p p e r s ta g e Signifies Rocket Lab’s commitment to becoming a launch provider for the National Security Space Launch (NSSL) program, which launches the United States' most critical missions.
Slide 18: Completed two Electron first stage ocean recoveries
Key 2021 Accomplishments Successfully completed two Electron first stage ocean recoveries Further advancing Electron recoverability program to enable increased launch cadence and reduce cost per mission.
Slide 19: Passed key design review for twin Photon mission to Mars
Key 2021 Accomplishments Pa s s e d k e y design review for twin photon mission to Mars Received NASA approval to move toward launch for the ESCAPADE mission. Led by the University of California, Berkeley Space Sciences Laboratory, the mission will study Mars’ magnetosphere with two Rocket Lab Photo
Slide 20: Strong 2021 bookings across launch and space systems
Strong 2021 bookings a c r o s s l a u n c h a n d s pa c e s y s t e m s f r o m n e w a n d r e p e at c u s t o m e r s Signed deals to supply Selected to launch Signed 5 launch deal with Entered into dedicated Signed 3 Photon deal components for NASA ACS3 Solar Sail BlackSky Global launch contra
Slide 21: Additional accomplishments
Additional accomplishments After December 31, 2021
Slide 22: Awarded $143M contract by MDA for 17 Globalstar spacecraft
Additional Accomplishments after December 31, 2021 Awa r d e d $ 1 4 3 M contract by MDA to design and m a n u fa c t u r e 1 7 s pa c e c r a f t f o r G l o b a l s ta r • Rocket Lab awarded contract over established Tier 1 prime contractors in highly competitive bid process. • Reflects a delibera
Slide 23: Executing on strategy to deliver complete space solutions
Additional Accomplishments after December 31, 2021 Satellite Radios Reaction wheels Executing on s t r at e g y t o Star Trackers deliver complete s pa c e S o l u t i o n s Flight Software • 17x 500kg spacecraft to be designed and manufactured at Rocket Lab’s Long Beach production complex. • Levera
Slide 24: Everything that goes to space should have a Rocket Lab logo on it
Additional Accomplishments after December 31, 2021 We said everything that goes to space should have a Rocket Lab logo on it We’re executing on that strategy. 1 MDA contract We deliver multiple 75 years of technical State-of-the-art facilities, Rocket Lab now uniquely demonstrates our parts of the l
Slide 25: Selected by NASA to provide launch services for VADR missions
Additional Accomplishments after December 31, 2021 selected by NASA to provide launch services f o r VA D r missions Maximum total budget of $300 million in launch contracts across 12 launch providers
Slide 26: Began development of new space systems complex in Littleton
Additional Accomplishments after December 31, 2021 Began development of n e w s pa c e systems complex in Littleton, Colorado New facility will more than triple Rocket Lab’s footprint in Colorado to support growing customer demand for flight software, mission simulation, and Guidance, Navigation and
Slide 27: Commenced operations from third Rocket Lab launch pad
Additional Accomplishments after December 31, 2021 Commenced Operations from third Rocket Lab launch pad Pad B at Launch Complex 1 doubles launch capability from New Zealand
Slide 28: Selected Virginia for Neutron launch site and production complex
Additional Accomplishments after December 31, 2021 Selected Virginia for neutron launch site and production complex Commonwealth of Virginia to invest $45 million in infrastructure and operational systems improvements to the Mid-Atlantic Regional Spaceport to support Neutron launch and production fa
Slide 29: Financial highlights and outlook
SECTION Financial highlights and outlook
Slide 30: Review of Revenue and Gross Margin Results
REVIEW OF REVENUE AND Gross Margin RESULTS $62.2M 77% Space Systems Revenue in 2021 Year-on-Year revenue growth contributed 50% of the total revenue for the Q4 period while growing by Year-on-Year and Quarter-on-Quarter 1464% YoY Revenue Growth GAAP GM% - (3%) $80 Non-GAAP GM% - 16% GAAP GM% -(34%)
Slide 31: Review of Financial Results
REVIEW OF FINANCIAL RESULTS GAAP R&D vs. SG&A Spending $58.4 Continued aggressive $41.8 investments in scaling our public company infrastructure and in Chart $25.7 $24.0 executing on TAM-expanding $19.0 $19.1 product development $14.2 $12.0 initiatives Q3 '21 Q4 '21 2020 2021 R&D ($M) SG&A ($M)
Slide 32: Consolidated Statement of Operations and Adjusted EBITDA
C O N S O L I D AT E D S TAT E M E N T O F ADJUSTED EBITDA O P E R AT I O N S A N D C O M P R E H E N S I V E (Unaudited) INCOME/LOSS(Unaudited) ROCKET LAB USA, INC. Three Months Ended Twelve Months Ended ROCKET LAB USA, INC. Three Months Ended Twelve Months Ended CONSOLIDATED STATEMENT OF December
Slide 33: GAAP to Non-GAAP Reconciliations and Statement of Cash Flows
G A A P t o N o n - G A A P R e c o n c i l i at i o n s S tat e m e n t o f C a s h F l o w s (Unaudited) (Unaudited) ROCKET LAB USA, INC. Three Months Ended Twelve Months Ended Rocket Lab USA, Inc. Three Months Ended Twelve Months Ended December 31, December 31, December 31, December 31, December
Slide 34: Financial Outlook
FINANCIAL OUTLOOK Q1 2022 Revenue Outlook Q1 GAAP and Non-GAAP Q1 Operating Expense, Interest Gross Margins Expense and Adjusted EBITDA • We expect Q1 Revenue of approximately • Expect GAAP gross margins of 17%, • Expect GAAP Operating Expenses of $42 - $47 million. impacted by product mix and full
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Slide 36: Upcoming Conferences
UPCOMING CONFERENCES 34th Annual ROTH 30th Annual Media, Space, Transport, Aviation Conference Internet & Telecom & Autos Research Summit Conference (STAARS) March 13 – 15, 2022 March 14 – 16, 2022 March 20 – 22, 2022 Peter Beck Peter Beck Peter Beck Founder & Chief Executive Founder & Chief Executi
Slide 37: Rocket Lab
—R ROCKETLAB