Rocket Lab USA, Inc. (RKLB) saw its stock soar 5.08% during Tuesday's intraday trading session, rebounding from recent declines as the space company's solid FY2024 earnings and a string of successful missions buoyed investor sentiment despite ongoing concerns over delays in its Neutron rocket project.
For the full year 2024, Rocket Lab reported revenue of $436.2 million, marking a robust 78% increase year-over-year and meeting analyst expectations. The company's net loss widened slightly to $190.2 million, largely attributed to higher operating costs as it scales operations. However, investors were encouraged by the strong revenue growth and optimistic outlook, with Rocket Lab forecasting a 28% average annual revenue increase over the next three years.
Adding to the positive momentum, Rocket Lab 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. These achievements, along with innovative solutions like the Flatellite, signal Rocket Lab's growing presence in the small satellite launch market.
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