An Electron rocket is preparing for launch.
Rocket Lab
Rocket Lab signed a five-launch contract with European satellite data company Kinéis, in an agreement that adds to the space company’s backlog.
Kinéis is building a constellation of Internet connectivity of things with 25 satellites, all launched into orbit by Rocket Lab’s Electron vehicle. Kinéis missions are scheduled to begin launching in the second quarter of 2023.
“It’s a very sophisticated customer, a very sophisticated spacecraft with really tough requirements … Electron’s proven accuracy and orbital insertion allows it to launch this constellation like this,” Peter Beck, CEO of Rocket Lab, told CNBC .
The Kinéis deal is the latest multi-launch victory for Rocket Lab, as the company announced earlier this year a contract with satellite imaging company BlackSky for five launches, and Beck sees a trend to buy mass releases.
“We see this continuing and there will be more news to follow,” Beck told CNBC.
Q2 results
The company rang the Nasdaq bell from its headquarters on August 25, 2021.
Rocket Lab
Rocket Lab also reported second-quarter results after the market closed Wednesday, the company’s inaugural quarterly report since it went public late last month.
The company had an adjusted EBITDA loss of $ 18.1 million during the first half of the year, with the second quarter ending June 30. At the same time, Rocket Lab grossed $ 29.5 million and expanded its portfolio to $ 141.4 million. of a total of $ 59.9 million at the end of the second quarter of the previous year.
Rocket Lab’s launch business generated $ 24.1 million in the first half of 2021, while its space systems unit grossed $ 5.4 million.
Rocket Lab shares rose up 7% in trading outside of business hours, since closing at $ 15.09. Shares have risen about 45% since the company went public on August 25th.
The company expects third-quarter revenue of $ 4 million to $ 5 million, with fourth-quarter revenue of $ 17 million to $ 20 million. Rocket Lab noted that the shutdowns caused by Covid in New Zealand, where it has major operations and launches its rockets, will cost the company between $ 10 million and $ 15 million.
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