NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

Rocket Lab shares jump after firm reports another big loss, but a fatter pipeline

Chris Keall
By Chris Keall
Technology Editor/Senior Business Writer·NZ Herald·
16 Nov, 2021 11:31 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Rocket Lab founder and CEO Peter Beck. Photo / Dean Purcell

Rocket Lab founder and CEO Peter Beck. Photo / Dean Purcell

Rocket Lab's Nasdaq-listed shares jumped 8.3 per cent to US$15.48 (for a US$7.0 billion market cap) as the company announced another quarterly loss but also a fatter pipeline of contracts for future launches.

The Kiwi-American firm reported a net loss of US$88.0 million for its September quarter, versus its year-ago net quarterly loss of US$13.0m as operating costs and R&D expenses surged while its Covid-hit revenue fell to $5.0m for the quarter from the year-ago US$11.0m.

But it also said its backlog of contracts - which was worth US$60m in June 2020 - had continued to swell.

As of June 30, Rocket Lab had future launches and other work worth some $141m.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

That number had increased to $237m by the time the September quarter closed.

As of today, the value of Rocket Lab's forward bookings stands at $237m.

Founder and CEO Peter Beck said on a post-earnings conference call: "We've seen bookings strengthen across every major product in the company, including new Electron launch contracts, government study contracts, interplanetary Photon satellites and debris removal programmes."

Investors also took heart at the firm forecasting a revenue bump to US$23m - US$25m for its December quarter, and space systems revenue for the September quarter rose 360 per cent over the year-ago period to represent 27 per cent of total revenue for the nine months to September 30.

Advertisement
Advertise with NZME.

Rocket Lab also guided to a narrower net loss of US$24m - US$26m for its fourth quarter (the firm has previously flagged it will spend several years in the red).

Increasing the percentage of its revenue that comes from space systems - satellites and spacecraft - is core to Rocket Lab's growth strategy and its aim to be a full-service space transportation company.

Rocket Lab's aim is for space systems to generate 40 per cent of its revenue by 2027 - a year in which it has forecast operating earnings of US$505m on US$1.57b turnover.

Yesterday, Rocket Lab said it has acquired Planetary Systems Corporation (PSC), a Maryland-based spacecraft separation systems, for US$42m

Discover more

Business

MBIE awarded space contract to US startup without competitive tender

03 Nov 04:32 AM
Companies

Rocket Lab shares jump as US military funding confirmed

27 Sep 06:26 PM
Business

Beck backs ex-Rocket Lab engineer's $50m car parts startup

11 Oct 04:00 PM
Business

Revealed: NZ Space Agency briefing on Rocket Lab's controversial Gunsmoke J launch for US Army

31 May 05:38 AM

The deal was announced this morning NZT with the ink barely dry on Rocket Lab's purchase of Advanced Solutions, a Colorado-based maker of mission simulation systems, and navigation and control solutions, for US$40m - plus a potential US$5m on top if it reaches performance targets for this calendar year.

And last year, Rocket Lab bought Canadian satellite component maker Sinclair Interplanetary for an undisclosed sum to bolster its "Photon" platform for placing satellites into the right orbit around the Earth, or ferrying them between planets.

Earlier, Beck told the Herald that the space systems sector was ripe for consolidation, with dozens of players who were capable, but also small, slow and financially inefficient.

Being rolled into Rocket Lab gave them scale, and reduced lead times for the Kiwi-American company, which is aiming for a full-service space transportation offering.

More deals could be ahead.

Rocket Lab started its quarter with US$109m in cash and finished it with US$794m after it raised US$750m with its Nasdaq listing.

Advertisement
Advertise with NZME.

Ahead of today's jump, Rocket Lab shares were already well ahead of its US$10.00 listing price.

Beyond the fatter pipeline and recent acquisitions, investors have also reacted well to news Rocket Lab will open its own satellite component plant in Auckland before year's end, and the firm securing US$24.35 million ($34m) in US military funding towards development of the crew-capable neutron, which will be able to lift an 8-tonne payload into space (or around 20 times the payload capacity of the Electron).

Meanwhile, Rocket Lab's latest launch - which will include helicopters shadowing the falling first-stage in preparation for a mid-air retrieval - had to be abandoned last Thursday. Following a further delay today, due to high winds around Launch Complex 1 at Mahia, the company is set to have another shot on Thursday afternoon.

Save

    Share this article

Latest from Business

Premium
Airlines

Pilot group to honour Erebus legacy with safety award

17 Jun 07:00 AM
Premium
Business

The NZ boardrooms where women buck gender pay gap trend

17 Jun 06:00 AM
Premium
Shares

Market close: NZX 50 down 0.4% as Israel-Iran conflict intensifies

17 Jun 05:48 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Pilot group to honour Erebus legacy with safety award

Pilot group to honour Erebus legacy with safety award

17 Jun 07:00 AM

The industry faces challenges but hopes to bring newcomers and veterans together.

Premium
The NZ boardrooms where women buck gender pay gap trend

The NZ boardrooms where women buck gender pay gap trend

17 Jun 06:00 AM
Premium
Market close: NZX 50 down 0.4% as Israel-Iran conflict intensifies

Market close: NZX 50 down 0.4% as Israel-Iran conflict intensifies

17 Jun 05:48 AM
Median house prices down again, sales taking longer: monthly report

Median house prices down again, sales taking longer: monthly report

17 Jun 05:32 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP