Rocket Lab USA, Inc. (NASDAQ: RKLB) saw its stock soar 5.01% on Tuesday's intraday trading session, bouncing back from recent declines as the space company's solid FY2024 earnings and series of successful missions lifted investor sentiment.

The surge comes after Rocket Lab's shares tumbled 17% over the past week due to broader market volatility, concerns over a class action lawsuit regarding the Neutron rocket project, and economic headwinds pressuring tech stocks. However, the company's recently released FY2024 results and string of achievements appear to have restored confidence.

For the full year 2024, Rocket Lab reported revenue of $436.2 million, up a robust 78% year-over-year and in line with analyst expectations. While the net loss widened slightly to $190.2 million, this was largely attributed to higher operating costs as the company scales its operations. Investors were particularly encouraged by the strong revenue growth and optimistic outlook, with Rocket Lab forecasting a 28% average annual revenue increase over the next three years.

Additionally, Rocket Lab has celebrated several key milestones in recent months, including supporting Firefly Aerospace's successful lunar mission and securing new multi-launch agreements with clients like iQPS for Earth-imaging satellites. The company's expanding operational cadence and innovative solutions like the Flatellite signal its growing presence in the small satellite launch market.

Despite the positive catalysts, risks remain on the horizon. The ongoing class action lawsuit alleging misleading statements about the Neutron rocket project could pose legal and financial challenges. Economic uncertainties and pressures on the tech sector may also continue to weigh on Rocket Lab's stock performance in the near term.