Rocket Lab Reports Increased Revenue From Space Systems, $26.7 Million First Quarter Net Loss

Electron launches on May 3, 2022. (Credit: Rocket Lab)

by Douglas Messier
Managing Editor

Rocket Lab reported a $26.7 million first quarter loss on revenues of $40.7 million, with space systems such as satellites producing the majority of revenues rather than the launches for which the company is best known. Adjusted EBITDA loss for the quarter was $7.98 million.

Rocket Lab earned $34.1 million in revenues from space systems. That amount represented 84% of first quarter revenues, an increase of 1,873 percent from the first quarter of 2021.

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Rocket Lab Begins Qualification of Highest Performing Space Solar Cell Technology

Rocket Lab’s new IMM-B high efficiency space solar cell. (Credit: SolAero)

Developed by SolAero Technologies Inc., a space solar power company recently acquired by Rocket Lab, the IMM-β solar cells are the highest efficiency commercial space solar cell

LONG BEACH, Calif., (Rocket Lab PR) — Rocket Lab USA, Inc. (“Rocket Lab” or the “Company”) (Nasdaq: RKLB), a global leader in launch services, space systems and space solar power products, announced today that its next-generation solar cell technology is transitioning into qualification. The cell is the next product from SolAero’s patented Inverted MetaMorphic (IMM) solar cell technology, dubbed IMM-β, that is expected to exhibit a conversion efficiency of ~33.3% in volume production. IMM-β is the 4th generation IMM product created by SolAero Technologies Inc. (SolAero), a space solar power company acquired by Rocket Lab in January 2022.

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Rocket Lab Announces Fourth Quarter and Full Year 2021 Financial Results, Issues Guidance for the First Quarter 2022

  • $2.8 million net income for fourth quarter
  • $117.75 million net loss for the year
  • $27.5 million in revenues for fourth quarter
  • $62.2 million in revenues for the year

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 fourth quarter and full year ended December 31, 2021.

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Rocket Lab Selected by MDA to Design and Build Spacecraft for Globalstar

Photon system (Credit: Rocket Lab)

The $143 million contract is the largest spacecraft bus order placed with Rocket Lab to date, encompassing the design and manufacture of 17 state-of-the-art spacecraft for Globalstar’s newest satellites

LONG BEACH, Calif., February 24, 2022 (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 that it has been awarded a subcontract by MDA Ltd (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, to lead the design and manufacture of 17 spacecraft buses for Globalstar’s new Low Earth Orbit satellites. Globalstar, Inc. (NYSE American: GSAT) is a leading provider of Mobile Satellite Services including customizable satellite IoT solutions for individuals and businesses globally.

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Rocket Lab to Acquire SolAero Holdings, Inc., a Global Leader in Space Solar Power Products

LONG BEACH, Calif., December 13, 2021 (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 it has signed a definitive agreement to acquire SolAero Holdings, Inc. (SolAero), a premier supplier of space solar power products and precision aerospace structures for the global aerospace market, for $80 million in cash. The acquisition is expected to close in the first quarter of 2022.

The acquisition aligns with Rocket Lab’s growth strategy of vertical integration to deliver a comprehensive space solution that spans spacecraft manufacture, satellite subsystems, flight software, ground operations, and launch. As one of only two companies producing high-efficiency, space-grade solar cells in the United States, SolAero’s space solar cells are among the highest performing in the world and support civil space exploration, science, defense and intelligence, and commercial markets. In combining with Rocket Lab, SolAero will tap into the Company’s resources and manufacturing capability to boost high-volume production, making high-performing space power technologies available at scale.

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SolAero Technologies’ Solar Panel Powers NASA’s Ingenuity Mars Helicopter

NASA’s Ingenuity helicopter can be seen on Mars as viewed by the Perseverance rover’s rear Hazard Camera on April 4, 2021, the 44th Martian day, or sol of the mission. Credits: NASA/JPL-Caltech

ALBUQUERQUE, NM (SolAero PR) — SolAero Technologies Corp. (SolAero), a leading provider of high efficiency solar cells, solar panels, and composite structural products for satellite and aerospace applications, congratulates the team at NASA’s Jet Propulsion Labs (JPL) on the successful maiden flight of the Mars Helicopter, Ingenuity. SolAero is proud to have supplied the solar panel that has enabled the first powered, controlled flight on another planet.

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AFRL’s Advanced Multi-junction Solar Cells Deliver High Efficiency, Reduced Costs

Inverted Metamorphic Multi-Junction Solar Cells are a more efficient and lighter weight alternative to the state-of-practice multi-junction space solar cells. (Credit: SolAero Technologies)

By Marisa Alia-Novobilski
Air Force Research Laboratory

Experts at the Air Force Research Laboratory continue to expand the scope of their technological expertise, rising above the Earth’s surface to meet the power needs of next generation military spacecraft.

A collaborative effort between the AFRL Materials and Manufacturing and Space Vehicles Directorates, the Space Industrial Base Working Group and SolAero Technologies has resulted in state-of-the art, multi-junction solar cells destined to reduce costs and increase power efficiency for military space applications.

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SolAero’s $10 Million Expansion Keyed to OneWeb Contract

ALBUQUERQUE, NM (SolAero PR) –- SolAero Technologies Corp (SolAero), a leading provider of high efficiency solar cells, solar panels, and composite structural products, announced a $10 million program investment to augment its existing solar panel production capabilities in support of the growing market for commercial satellite constellations. This significant commitment includes the construction of a new 40,000 square foot facility at its headquarters in Albuquerque, NM. Once complete, this facility will contain the world’s only vertically-integrated, end-to-end satellite solar panel production capability. The project will create more than 100 new jobs at SolAero and its partners and will represent the leading industry benchmark for space solar power technology.

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