Rocket Lab USA Files Q2 2024 10-Q

TL;DR

Rocket Lab's Q2 10-Q is in: financials updated, asset details disclosed.

AI Summary

Rocket Lab USA, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial position and business operations, including details on its assets, liabilities, and equity. Specific financial instruments and fair value measurements were disclosed, such as asset-backed securities and money market funds.

Why It Matters

This filing provides investors with an updated look at Rocket Lab's financial health and operational performance for the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details and operational performance within can carry varying levels of risk.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided snippet.)
• N/A — Net Income/Loss (Specific net income or loss figures are not detailed in the provided snippet.)
• N/A — Total Assets (Specific total asset figures are not detailed in the provided snippet.)

Key Players & Entities

• Rocket Lab USA, Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-08 (date) — Filing date
• Vector Acquisition Corp (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share RKLB The Nasdaq Stock Mar

Filing Documents

• rklb-20240630.htm (10-Q) — 2184KB
• rklb-ex31_1.htm (EX-31.1) — 16KB
• rklb-ex31_2.htm (EX-31.2) — 17KB
• rklb-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-094122.txt ( ) — 10257KB
• rklb-20240630.xsd (EX-101.SCH) — 1752KB
• rklb-20240630_htm.xml (XML) — 1948KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION 32 Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

Signatures

Signatures 34 4 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ROCKET LAB U.S.A., INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2024 AND DECEMBER 31, 2023 (in thousands, except share and per share values) June 30, 2024 (unaudited) December 31, 2023 Assets Current assets: Cash and cash equivalents $ 340,911 $ 162,518 Marketable securities, current 155,844 82,255 Accounts receivable, net 50,476 35,176 Contract assets 18,744 12,951 Inventories 104,539 107,857 Prepaids and other current assets 81,322 66,949 Assets held for sale — 9,016 Total current assets 751,836 476,722 Non-current assets: Property, plant and equipment, net 155,894 145,409 Intangible assets, net 64,243 68,094 Goodwill 71,020 71,020 Right-of-use assets - operating leases 55,283 59,401 Right-of-use assets - finance leases 14,667 14,987 Marketable securities, non-current 46,411 79,247 Restricted cash 3,640 3,916 Deferred income tax assets, net 1,573 3,501 Other non-current assets 24,031 18,914 Total assets $ 1,188,598 $ 941,211 Liabilities and Stockholders' Equity Current liabilities: Trade payables $ 26,468 $ 29,303 Accrued expenses 11,937 5,590 Employee benefits payable 13,918 16,342 Contract liabilities 184,042 139,338 Current installments of long-term borrowings 11,345 17,764 Other current liabilities 18,731 15,036 Total current liabilities 266,441 223,373 Non-current liabilities: Convertible senior notes, net 344,344 — Long-term borrowings, net, excluding current installments 50,061 87,587 Non-current operating lease liabilities 52,888 56,099 Non-current finance lease liabilities 15,112 15,238 Deferred tax liabilities 619 426 Other non-current liabilities 3,953 3,944 Total liabilities 733,418 386,667 COMMITMENTS AND CONTINGENCIES (Note 15) Stockholders