Rocket Lab: The Economics of the Second Launch Company
What do Rocket Lab's results show?
Chapter summary
Revenue $601.8M in 2025 (+38%); 21 Electron launches; backlog $1.85B, then $2.36B by mid-2026.
Key takeaways
- 1
Launch is about 30% of revenue (Setcoin estimate).
- 2
Spacecraft drive growth and backlog.
- 3
Neutron is the step up to medium lift.
Key figures in this chapter
- $601.8M
- revenue, 2025 (+38%)
- 21
- Electron launches, 2025 (16 in 2024)
- ~30%
- of revenue from launch (Setcoin estimate)
- $2.36B
- backlog, mid-2026 (~40% launch)
Source: Rocket Lab 10-K and results as reported; Setcoin estimate
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