Rocket Lab Corporation announced that its Electron rocket completed an 18th successful launch in 2025, setting a new annual record and maintaining a 100 % success rate. The “Follow My Speed” mission lifted off from Launch Complex 1 in Mahia, New Zealand at 12:43 UTC on November 20, 2025, following a HASTE sub‑orbital flight from Launch Complex 2 in Virginia on November 18. The two‑day turnaround between launches in opposite hemispheres underscores Electron’s status as the world’s most frequently launched small‑orbital rocket and demonstrates the company’s operational efficiency and rapid cadence.
The record launch builds on a trajectory that saw 16 successful missions in 2024, the previous high. The 18‑mission count reflects a 12.5 % increase in annual launches and a 1,700 % rise in launch cadence over the past decade, driven by streamlined manufacturing, reusable first‑stage boosters, and a growing customer base that includes both commercial satellite operators and government agencies.
Rocket Lab’s Q3 2025 earnings, released on November 10, 2025, showed record quarterly revenue of $155 million, up 48 % year‑over‑year, and a record GAAP gross margin of 37 %. The strong revenue growth was largely powered by a 48 % increase in commercial launch revenue and a 35 % rise in government contracts, reflecting robust demand for small‑satellite launch services. Gross margin expansion was supported by cost discipline in manufacturing and a favorable mix of high‑margin Electron launches versus lower‑margin HASTE flights. Despite the revenue and margin gains, the company reported a negative net margin, driven by significant capital expenditures on the Neutron heavy‑lift program and other research and development initiatives.
Investors reacted with a mix of optimism and caution. The record revenue and margin performance reinforced confidence in Rocket Lab’s core launch business, while the announced delay of the Neutron rocket’s first flight to 2026—along with projected development costs of $360 million by year‑end—raised concerns about future capital requirements and the timing of the company’s next growth engine. Analysts noted that the Neutron delay could temper enthusiasm for the company’s long‑term trajectory, even as the Q3 results highlighted operational excellence.
Sir Peter Beck, Rocket Lab’s founder and CEO, said the company’s “Electron once again proves why it is the champion of small launch globally.” He added that the company remains focused on scaling launch capacity, investing in the Neutron program, and expanding its vertical integration through acquisitions such as Geost and Mynaric, positioning Rocket Lab to capture value across the entire space mission lifecycle.
The combination of a record launch cadence, strong Q3 financials, and a clear roadmap for future growth signals that Rocket Lab is solidifying its leadership in the small‑satellite market while navigating the challenges of developing a heavy‑lift vehicle.
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