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Home / Gisborne Herald / Business

Astronomical growth for Rocket Lab

Gisborne Herald
17 Mar, 2023 11:28 AMQuick Read

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Rocket Lab launches a joint US Australian security payload from Mahia. Picture by Rocket Lab

Rocket Lab launches a joint US Australian security payload from Mahia. Picture by Rocket Lab

Rocket Lab yesterday announced record revenue of $55.5 million on the back of three more successful launches from its Mahia space port.

The figures were announced in the US-based company's financial results for its second fiscal quarter of 2022 ending June 30.

It represents a 36 percent sequential quarter-on-quarter growth and 392 percent year-on-year quarterly revenue growth.

“In the second quarter of 2022 our team upheld our track record of relentless execution, delivering three successful launches, more than any other small launch provider for the entire year so far,” Rocket Lab found and chief executive Peter Beck said.

“Electron retains its position as the industry's reliable small launch vehicle, delivering satellites to orbit for a range of commercial constellation operators and Nasa in the second quarter, quickly followed by back-to-back national security launches for the National Reconnaissance Office after the second quarter end.”

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Launch revenue from three Mahia launches in the quarter, accounted for $23m in revenue.

The company predicts third quarter revenue is expected to range between $60m and $63m.

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