Rocket Lab USA Inc. reported its second-quarter financial results for 2025, posting record quarterly revenue of approximately $144.5 million, representing a 36% year-over-year increase and exceeding estimates of around $135 million. Despite the revenue growth, the company reported a net loss of $66.4 million and an EPS of negative $0.13, slightly below the estimated loss of $0.11 per share. The company also expanded its non-GAAP gross margin to 36.9%, a 650 basis points improvement year-over-year. Operating expenses were reported at about $106 million. For the third quarter of 2025, Rocket Lab projects revenue between $145 million and $155 million, aligning with analyst consensus, and anticipates adjusted EBITDA losses between $21 million and $23 million. The company highlighted strong operational performance driven by five successful launches and growth in space systems. Following the earnings release, Rocket Lab's stock price rose by more than 5% in pre-market trading, with analysts from KeyBanc and Needham raising their price targets to $50 and $55 respectively, while Deutsche Bank increased its target from $27 to $45. Additionally, Rocket Lab completed the acquisition of U.S. satellite sensor maker Geost, enhancing its national security capabilities by adding payload expertise to its launch and spacecraft portfolio.