Rocket Lab completed 21 orbital launches during 2025, its highest annual total to date, deploying 79 Electron missions overall since program inception. Customers included the U.S. Space Force, Japan’s national space agency, Synspective, iQPS and BlackSky, as well as several undisclosed commercial clients. The Dec. 21 mission for iQPS will deliver near–real-time imaging from a dozen orbital slots, underscoring Electron’s reliability for small satellite operators.

In the third quarter of 2025, Rocket Lab reported record revenue of $155 million, up 48% year-over-year, and gross profit of $57.3 million, more than double the prior year’s $28 million. Operating expenses rose to $116.2 million, resulting in an operating loss of $58.9 million. Net loss narrowed to $18.3 million, or $0.03 per share, compared with a loss of $51.9 million, or $0.10 per share, in the same period of 2024. Gross margin expanded to 37%, the highest level in company history.

Rocket Lab secured an $816 million award from the U.S. Space Development Agency to design and build missile-tracking satellites, boosting its backlog to 49 launch contracts. The company closed its $325 million acquisition of Geost, gaining electro-optical and infrared sensor capabilities for national security missions, and is finalizing the purchase of Mynaric, a German laser communications specialist. These moves position Rocket Lab for end-to-end space solutions in both defense and commercial markets.

With more than $1 billion in liquidity at year-end, Rocket Lab plans to increase launch cadence and bring its reusable Neutron vehicle to a launch platform in the first quarter of 2026. The Neutron is designed for deep-space missions and human spaceflight support. Management forecasts a higher launch velocity and continued margin expansion as production scales, targeting sustained revenue growth and a clear path toward overall profitability in the coming year.