Rocket Lab USA Inc ( RKLB ) reported financial results for the first quarter on Thursday after the bell. Here’s a rundown of the end-to-end space company’s report.

Q1 Earnings: Rocket Lab reported first-quarter revenue of $122.57 million, beating the consensus estimate of $121.38 million. The company reported a first-quarter loss of 12 cents per share, beating analyst estimates for a loss of 13 cents per share, according to Benzinga Pro.

Total revenue was up 32% year-over-year after the company successfully launched five Electron missions for three separate commercial satellite constellation operators in the first quarter.

The space company ended the quarter with approximately $303.15 million in cash and cash equivalents, up from $271 million at the end of 2024.

“Rocket Lab has delivered a strong first quarter performance, with wins across our launch and space systems divisions reflected in our near-record $123 million revenue — at the top end of our guidance and a 32% increase year-on-year compared to Q1 2024,” said Peter Beck, founder and CEO of Rocket Lab.

“We also remain confident in our ability to execute and deliver on what’s set to be another strong quarter, with our Q2 2025 revenue guidance in the $130m-$140 million range — which would reflect the underlying strength of our increasingly diverse business within the current geopolitical climate, showing the resilience of our vertically integrated end-to-end space company business model.”

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Rocket Lab announced a partnership with the U.S. Air Force in which the company will launch its new medium-lift reusable rocket Neutron for a Rocket Cargo mission that supports point-to-point cargo transportation. The mission is scheduled for a return-to-Earth launch no earlier than 2026.

Guidance: Rocket Lab sees second-quarter revenue of $130 million to $140 million versus estimates of $136.82 million. The company anticipates an adjusted EBITDA loss of $28 million to $30 million in the second quarter.

Rocket Lab announced plans to establish a holding company structure. The new parent company, Rocket Lab Corporation, will replace Rocket Lab USA, Inc. ( RKLB ) as the publicly listed company on the Nasdaq. The new company structure is expected to be in effect by June 1.

Rocket Lab management will further discuss the company’s quarterly results on a call with investors and analysts at 5 p.m. ET.

RKLB Price Action: Rocket Lab shares were down 3.59% after-hours, trading at $22.23 at the time of publication on Thursday, according to Benzinga Pro.

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