Rocket Lab USA, Inc. (RKLB) Q4 2024 Earnings Call Transcript

2025-02-27 22:41:27 ET

Rocket Lab USA, Inc. (RKLB)

Q4 2024 Earnings Conference Call

February 27, 2025, 05:00 PM ET

Company Participants

Murielle Baker - Senior Communications Manager

Peter Beck - Founder and CEO

Adam Spice - CFO

Conference Call Participants

Edison Yu - Deutsche Bank

Andres Sheppard - Cantor Fitzgerald

Suji Desilva - ROTH Capital

Trevor Walsh - Citizens JMP

Michael Leshock - KeyBanc Capital Markets

Jason Gursky - Citi

Erik Rasmussen - Stifel

Andre Madrid - BTIG

Presentation

Operator

Good evening and thank you for standing by. My name is Kelvin and I'll be your conference operator today. At this time, I would like to welcome everyone to Rocket Lab’s Fourth Quarter 2024 Financial Results Update and Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] I would now like to turn the call over to Murielle Baker, Senior Communications Manager. Please go ahead.

Murielle Baker

Thank you. Hello and welcome to today's conference call to discuss Rocket Lab's full year and fourth quarter 2024 financial results. Now, before we begin the call, I'd like to remind you that our remarks may contain forward-looking statements that relate to the future performance of the company and these statements are intended to qualify for the safe harbor protection from liability established by the Private Securities Litigation Reform Act. Any such statements are not guarantees of future performance and factors that could influence our results are highlighted in today's press release and others are contained in our filings with the Security and Exchange Commission. Such statements are based upon information available to the company as of the date hereof and are subject to change for future developments. Except as required by law, the company does not undertake any obligation to update these statements.

Now, our remarks and press release today also contain non-GAAP financial measures within the meaning of Regulation G enacted by the SEC. Included in such release and our supplemental materials are reconciliations of these historical non-GAAP financial measures to the comparable financial measures calculated in accordance with GAAP. This call is also being webcast with a supporting presentation and a replay and copy of the presentation will be available on our website.

Our speakers today are Rocket Lab’s Founder and Chief Executive Officer, Sir Peter Beck, as well as Chief Financial Officer, Adam Spice. They'll be discussing key business developments and highlights including updates on our launch and space systems programs. We will discuss financial highlights and outlook before we finish by taking questions.

So, with that, let me turn the call over to Sir Peter.

Peter Beck

Thanks, Murielle, and thanks for everybody joining us today. Look, 2024 was our biggest revenue year ever and I'm proud to share that we delivered very strong results for Q4 2024 and indeed for the full year. We achieved our highest annual revenue figure to date of $436 million, that's more than a 78% increase on previous year's revenue, demonstrating that our strategy of delivering end-to-end space services is paying off and delivering significant growth....

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