Rocket Lab Announces Third Quarter 2021 Financial Results, Issues Guidance for Fourth Quarter

Electron launches with OHB satellite. (Credit: Rocket Lab webcast)

Q3 2021 Financial Results Highlights

  • Revenue above high end of prior guidance range at $5.3 million
  • Backlog increased from $141 million at June 30, 2021 to $183 million as of September 30, 2021, and currently stands at $237 million as of November 15, 2021
  • Space Systems revenue in the third quarter 2021 grew 360% over the same quarterly period in 2020 to represent 27% of total revenue for the nine months ended September 30, 2021
  • Successfully completed the merger with Vector Acquisition Corporation resulting in ending cash balance at September 30, 2021 of $792.7 million

Q4 2021 Guidance

  • Revenue to range between $23 million to $25 million
  • GAAP and non-GAAP gross margins of 13 percent and 27 percent, respectively
  • GAAP and non-GAAP operating expenses between $24 million to $26 million, and $19 million to $21 million, respectively
  • GAAP Net Loss between $24 million and $26 million, and Adjusted EBITDA loss of $9 million to $11 million, which reflects adjustments for stock-based compensation, 3rd party fees associated with M&A activity, depreciation and amortization, FX gains and losses, interest expense, taxes and other recurring and non-recurring items
  • All of the above exclude any warrant expense impacts from the public and private warrants assumed from the Vector Acquisition Corporation merger that closed on August 25, 2021, and also excludes any impacts from the Advance Solutions Inc. acquisition and related purchase price accounting, and excludes any financial contributions and accounting impacts from the pending Planetary Systems Corporation acquisition announced today

LONG BEACH, Calif. (Rocket Lab PR) — Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced financial results for its fiscal third quarter ended September 30, 2021.

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Voyager Space Subsidiary, Altius Space Machines, Inc. Announces Support of Eta Space and NASA’s LOXSAT Cryogenic Fluid Management Mission

Voyager Logo

DENVER, Aug. 24, 2021 (Voyager Space PR) — Voyager Space (Voyager), a global leader in space exploration, today announced its subsidiary, Altius Space Machines, Inc. (Altius) was recently selected by Eta Space to provide a cryogenic coupler for liquid oxygen (LOX) transfer in support of its planned nine-month LOXSAT cryogenic fluid management mission.

Eta Space was selected by NASA to execute a flight demonstration of a complete cryogenic oxygen fluid management system. The system will fly as a dedicated payload on a Rocket Lab Electron launch vehicle and will collect critical cryogenic storage and transfer data in orbit for nine months. Eta Space will collaborate with NASA’s Marshall Space Flight Center in Huntsville, Alabama, NASA’s Glenn Research Center in Cleveland, and NASA’s Kennedy Space Center in Cape Canaveral, Florida.

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NASA Awards Eta Space Contract for Gas Stations in Space

LOXSAT-1 satellite (Credit: Eta Space)

Eta Space to Fly LOXSAT Mission to Demonstrate Cryogenic Fluid Management in Orbit

ROCKLEDGE, Fla. (Eta Space PR) — Eta Space signed a $25M contract on April 27 with NASA’s Space Technology Mission Directorate under the Technology Demonstration Missions (TDM) Program to demonstrate critical Cryogenic Fluid Management (CFM) technologies in low Earth orbit. Headquartered in Rockledge, Florida, Eta Space was the only small business awarded one of NASA’s STMD “Tipping Point” contracts for a CFM project within the TDM Program. This contract, along with a separate 2019 Tipping Point award to develop cryogenic propellant depots on the Lunar surface, solidifies Eta Space as the new space industry leader in commercial cryogenic propellant servicing.

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NASA Tipping Point Selections Include Cryogenic Fluid, Lunar Surface and Landing Tech

An astronaut descends the ladder to explore the lunar surface. (Credit: NASA)

WASHINGTON (NASA PR) — The following selections, organized by topic area, are based on NASA’s fifth competitive Tipping Point  solicitation and have an expected combined award value of more than $370 million. NASA’s Space Technology Mission Directorate (STMD) will negotiate with the companies to issue milestone-based firm-fixed price contracts lasting for up to five years.

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NASA Announces Partners to Advance ‘Tipping Point’ Technologies for the Moon, Mars

NASA and industry have developed and tested numerous technologies to enable long-term cryogenic fluid management, which is essential for establishing a sustainable presence on the Moon and helping crewed missions to Mars. For example, this 13-foot diameter cryogenic storage test tank evaluated technologies to reduce the evaporation or “boil off” propellant losses. Implementation of similar technologies in operational missions requires further maturation through in-space demonstrations. (Credits: NASA)

WASHINGTON (NASA PR) — NASA has selected 14 American companies, including several small businesses, as partners to develop a range of technologies that will help forge a path to sustainable Artemis  operations on the Moon by the end of the decade.

U.S. industry submitted the proposals to NASA’s fifth competitive  Tipping Point solicitation, and the selections have an expected combined award value of more than $370 million. NASA’s Space Technology Mission Directorate will negotiate with the companies to issue milestone-based firm fixed-price contracts lasting for up to five years.

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