Source: Radio New Zealand
Rocket Lab founder Peter Beck. Supplied / Rocket Lab
The New Zealand-founded rocket company Rocket Lab has posted record revenue of US$200 million (NZ$336 million) in the first quarter, as demand for its launch vehicles surges.
The company, listed on the US-based Nasdaq, said it had signed 31 new launch contracts for its Electron and HASTE launch vehicles.
It said that it now had more than 70 contracted missions, with its backlog valued at US$2.2 billion (NZ$3.7 billion).
While revenue was up more than 63 percent on the same period a year earlier, the company still posted a net loss of about US$45m (NZ$75.6m).
During the quarter, the company said it had signed five new dedicated Neutron launch contracts with an undisclosed customer.
That comes after it signed a record US$190 million (NZ$319.2m) contract from the United States Department of War, formally the Department of Defence, for a series of hypersonic test flights using its HASTE launch vehicle.
The first launch of the Neutron launch vehicle is expected later this year from a site in the United States.
Rocket Lab’s New Zealand launch site based on the Mahia Peninsula, is used for the smaller Electron launch vehicle.
The company also completed the acquisition of space robotics company Motiv Space Systems during the quarter. It said this will add Mars-proven robotics capability to Rocket Lab, for advanced planetary and national security missions.
Looking ahead the company said it expected revenue to be even higher in the second quarter, at between US$225m (NZ$378m) and US$240m (NZ$403.2m).
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand