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Rocket Lab USA, Inc. [RKLB] reports annual net loss of $182,571,000.0
By USInMinutes - Feb 29, 2024, 05:29 AM ET
Last Updated - May 08, 2024, 01:16 PM EDT
Company Reports Revenue of $244.6 million
Rocket Lab USA, Inc. [RKLB] has reported a net loss of $182,571,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $244.6 million
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Based in LONG BEACH, California, Rocket Lab USA, Inc. operates in the MANUFACTURING sector.
The consolidated financial statements of Rocket Lab USA, Inc. for the 12 months ended December 31, 2023, compared to the same period in 2022 and 2021, reveal the following key figures in millions:
- Revenues for the current reporting period amounted to $244.6 million, showing a growth from the previous year's revenue of $211.0 million and a significant increase from the 2021 revenue of $62.2 million.
- The cost of revenues for the current period totaled $193.2 million, slightly lower than the previous year's cost of $192.0 million and significantly higher than the 2021 cost of $64.1 million.
- The gross profit for the current year was $51.4 million, a substantial improvement from the $19.0 million in profit recorded in the previous year and a positive swing from the $1.9 million loss in 2021.
- The net loss for the current period was $182.6 million, widening from the $135.9 million loss in the previous year and exceeding the $117.3 million loss in 2021.
- In terms of earnings per share, both basic and diluted earnings per share for the current reporting period were $(0.38), a decline from the $(0.29) earnings per share in the previous year and the $(0.56) earnings per share in 2021.
Overall, Rocket Lab USA, Inc. experienced growth in revenues, but also incurred higher costs leading to a wider net loss compared to the previous periods. The company's earnings per share also declined in the current reporting period.
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