Rocket Lab USA Inc. ( RKLB ) shares are trading lower Friday after the company reported first-quarter results that beat expectations but issued guidance that signaled continued near-term losses.

What To Know: The company generated $122.57 million in revenue for first-quarter, ahead of the $121.38 million analyst consensus. It posted a net loss of 12 cents per share, slightly narrower than the 13-cent loss expected. Revenue rose 32% year-over-year, supported by five successful Electron launches across three commercial satellite clients.

Despite solid execution, shares moved lower after Rocket Lab projected an adjusted EBITDA loss of $28 million to $30 million for the second quarter, even as revenue guidance of $130 million to $140 million came in line with expectations. The market could be focused on the continuation of operating losses, overshadowing top-line growth.

The company also disclosed plans to restructure under a new parent entity, Rocket Lab Corporation, which will replace Rocket Lab USA ( RKLB ) as the Nasdaq-listed company effective June 1.

Additionally, Rocket Lab announced a U.S. Air Force contract involving its upcoming Neutron rocket for a point-to-point cargo transportation mission. In the related announcement, the company confirmed that Neutron's first launch remains on schedule for the second half of 2025.

RKLB Price Action: Rocket Lab shares were down 10.1% at $20.78 at the time of writing, according to benzinga Pro.

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