Rocket Lab USA Files Q3 2024 10-Q
Ticker: RKLB · Form: 10-Q · Filed: 2024-11-12T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-report, aerospace, financials
TL;DR
Rocket Lab's Q3 2024 10-Q is in: financials, stock, and notes detailed.
AI Summary
Rocket Lab USA, Inc. filed its Q3 2024 10-Q report on November 12, 2024, detailing its financial performance for the period ending September 30, 2024. The filing covers the company's financial position, results of operations, and cash flows, including information on its common stock, warrants, and convertible senior notes.
Why It Matters
This filing provides investors with a detailed look at Rocket Lab's financial health and operational performance during the third quarter of 2024, crucial for understanding the company's trajectory in the space industry.
Risk Assessment
Risk Level: medium — As a company in the aerospace sector, Rocket Lab faces inherent risks related to technological development, launch success, and government contracts.
Key Numbers
- Q3 2024 — Reporting Period (The period covered by the 10-Q filing.)
- 2024-09-30 — Fiscal Quarter End (The specific date marking the end of the third quarter of 2024.)
Key Players & Entities
- Rocket Lab USA, Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period for the 10-Q
- 20241112 (date) — Date the 10-Q was filed
- Vector Acquisition Corp (company) — Former company name of Rocket Lab USA, Inc.
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a quarterly report on Rocket Lab USA, Inc.'s financial condition and results of operations for the period ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on November 12, 2024.
What was Rocket Lab USA, Inc.'s former company name?
Rocket Lab USA, Inc.'s former company name was Vector Acquisition Corp.
What types of financial instruments are mentioned in relation to Rocket Lab's reporting?
The filing mentions common stock, common stock warrants, and convertible senior notes.
What industry does Rocket Lab USA, Inc. operate in, according to the SIC code?
Rocket Lab USA, Inc. operates in the GUIDED MISSILES & SPACE VEHICLES & PARTS industry, with SIC code 3760.
Filing Stats: 4,352 words · 17 min read · ~15 pages · Grade level 18.9 · Accepted 2024-11-12 16:30:56
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share RKLB The Nasdaq Stock Mar
Filing Documents
- rklb-20240930.htm (10-Q) — 2285KB
- rklb-ex10_1.htm (EX-10.1) — 26KB
- rklb-ex31_1.htm (EX-31.1) — 17KB
- rklb-ex31_2.htm (EX-31.2) — 18KB
- rklb-ex32_1.htm (EX-32.1) — 15KB
- 0000950170-24-125529.txt ( ) — 10522KB
- rklb-20240930.xsd (EX-101.SCH) — 1785KB
- rklb-20240930_htm.xml (XML) — 1934KB
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 SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (unaudited; in thousands, except share and per share values) September 30, 2024 (unaudited) December 31, 2023 Assets Current assets: Cash and cash equivalents $ 292,470 $ 162,518 Marketable securities, current 149,919 82,255 Accounts receivable, net 22,148 35,176 Contract assets 49,461 12,951 Inventories 114,435 107,857 Prepaids and other current assets 67,066 66,949 Assets held for sale — 9,016 Total current assets 695,499 476,722 Non-current assets: Property, plant and equipment, net 170,983 145,409 Intangible assets, net 61,582 68,094 Goodwill 71,020 71,020 Right-of-use assets - operating leases 53,985 59,401 Right-of-use assets - finance leases 14,518 14,987 Marketable securities, non-current 61,292 79,247 Restricted cash 4,322 3,916 Deferred income tax assets, net 1,419 3,501 Other non-current assets 18,409 18,914 Total assets $ 1,153,029 $ 941,211 Liabilities and Stockholders' Equity Current liabilities: Trade payables $ 42,434 $ 29,303 Accrued expenses 8,063 5,590 Employee benefits payable 19,335 16,342 Contract liabilities 167,129 139,338 Current installments of long-term borrowings 11,758 17,764 Other current liabilities 20,480 15,036 Total current liabilities 269,199 223,373 Non-current liabilities: Convertible senior notes, net 344,865 — Long-term borrowings, net, excluding current installments 46,915 87,587 Non-current operating lease liabilities 51,906 56,099 Non-current finance lease liabilities 15,042 15,238 Deferred tax liabilities 726 426 Other non-current liabilities 4,541 3,944 Total liabilities 733,194 386,667 COMMITMENTS AND CONTINGENCIES (Not