Rocket Lab’s financial quarter produces record $106 million

Rocket Lab has announced a record quarterly profit and news that its Archimedes rocket engine has reached a critical milestone.

Rocket Lab has announced its financial results for the fiscal second quarter ending June 30 - revealing the company produced a record $106 million.

Sir Peter Beck said there was a 71% year-on-year revenue increase during the second quarter.

“This ... increase demonstrates the strong and growing demand for our launch services and space systems products, and importantly, our team’s ability to execute against it.

“Meanwhile, we reached a critical milestone in the development of our new medium lift rocket Neutron, with the successful completion of the first hot fire for the Archimedes engine,” Beck said.

“Over the same period, we made significant progress in Neutron production and launch infrastructure with the scaling of engine production facilities, installation of the automated fibre placement machine that will produce Neutron’s largest carbon fibre structures, and we furthered development of Launch Complex 3 and the integration and assembly facility on site in Wallops, Virginia.”

On the small-launch front, Electron remained the leading small rocket globally with successful launches in the quarter for government and commercial customers.

Demand for Electron continued to grow with 17 new launches signed so far this year, he said.

“We also continue to reach development and production milestones across our space systems programs, in which we have more than $720 million in spacecraft under contract.

“Some significant achievements on this front include the completion of twin Rocket Lab-designed-and-built satellites for a NASA mission to Mars, as well as completing successful development reviews for the Government and commercial constellations we have in work.”