Rocket Lab USA, Inc. stock research
FY2024 Q2
Rocket Lab USA (RKLB) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin weakened slightly from the prior quarter but improved compared to the same quarter last year.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin weakened slightly from the prior quarter but improved compared to the same quarter last year.
- The strongest observable margin driver is the relationship between revenue and cost of revenue; revenue grew faster than cost of revenue compared to the same quarter last year, supporting margin improvement. Compared to the prior quarter, cost of revenue grew at a slightly faster pace than revenue, leading to a marginal weakening in gross margin.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, but gross margin was slightly lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
25.6%
Gross profit
$27.2M
Revenue
$106.3M
Cost of revenue
$79.1M
Quarter-over-quarter change
-0.5 pts
Year-over-year change
+2.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $67.7M | $15.0M | $52.7M | 22.1% |
| Dec 31, 2023 | $60.0M | $15.5M | $44.5M | 25.8% |
| Mar 31, 2024 | $92.8M | $24.2M | $68.6M | 26.1% |
| Jun 30, 2024 | $106.3M | $27.2M | $79.1M | 25.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-0.5 pts
Year-over-year change
Jun 30, 2023
+2.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue; revenue grew faster than cost of revenue compared to the same quarter last year, supporting margin improvement. Compared to the prior quarter, cost of revenue grew at a slightly faster pace than revenue, leading to a marginal weakening in gross margin.
Compared to the immediately preceding quarter, revenue and gross profit were higher, but gross margin was slightly lower. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher.
Monitor the trend in cost of revenue relative to revenue, as its growth rate influenced the gross margin movement between quarters.