$Rocket Lab(RKLB.US)This post is about the revenue breakdown analysis of Rocket Lab (stock code $Rocket Lab(RKLB.US)), covering its performance from 2021 to the last twelve months (LTM) of 2025. Author Brett Krieger shared a bar chart (the image you provided), showing the revenue growth of the company's two major business segments: Launch Services (blue section) and Space Systems (orange section).
Key takeaways are as follows:
Total revenue grew from approximately $62 million in 2021 to over $500 million in LTM 2025, indicating rapid expansion.
Space Systems revenue has consistently exceeded Launch Services, benefiting from the company's successful transformation into an end-to-end space enterprise through acquisitions (e.g., SolAero and Sinclair).
Despite a 75% year-on-year growth in Launch Services revenue in 2024 (due to increased Electron rocket launch frequency), it still lags behind Space Systems.
The author predicts that once the Neutron rocket begins launching (~$50 million per launch), Launch Services revenue will catch up to or even surpass Space Systems.
The accompanying chart clearly illustrates this trend: from total revenue of 62.3M in 2021 (Launch 39.0M, Space 23.3M), to 211.7M in 2022 (Launch 60.7M, Space 151.0M), 244.6M in 2023 (Launch 71.9M, Space 172.7M), ~426.2M in 2024 (Launch 115.4M, Space 310.8M, total labeled as 436.2M on the chart, possibly a typo or approximation), and 554.5M in LTM 2025 (Launch 165.5M, Space 389.0M).
Repost: https://x.com/i/status/2005727004880945161
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