Rocket Lab USA, Inc. stock research
FY2025 Q2
Rocket Lab USA (RKLB) Gross Margin — Quarter Ended Jun 30, 2025
Revenue and gross profit increased while cost of revenue also rose, resulting in a higher gross margin. Gross margin improved compared with the immediately preceding quarter and the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue and gross profit increased while cost of revenue also rose, resulting in a higher gross margin. Gross margin improved compared with the immediately preceding quarter and the same quarter one year earlier.
- Revenue grew more than cost of revenue, which led to gross profit expanding and gross margin strengthening. The strongest observable driver is the improved relationship between revenue and cost of revenue, as gross margin rose to a higher level than both prior periods.
- Compared with the immediately preceding quarter, revenue, gross profit, and cost of revenue were higher, and gross margin improved. Compared with the same quarter one year earlier, all three underlying metrics were higher, and gross margin was also higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.1%
Gross profit
$46.4M
Revenue
$144.5M
Cost of revenue
$98.1M
Quarter-over-quarter change
+3.3 pts
Year-over-year change
+6.5 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, 2024 | $104.8M | $28.0M | $76.8M | 26.7% |
| Dec 31, 2024 | $132.4M | $36.8M | $95.6M | 27.8% |
| Mar 31, 2025 | $122.6M | $35.2M | $87.3M | 28.8% |
| Jun 30, 2025 | $144.5M | $46.4M | $98.1M | 32.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+3.3 pts
Year-over-year change
Jun 30, 2024
+6.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Revenue grew more than cost of revenue, which led to gross profit expanding and gross margin strengthening. The strongest observable driver is the improved relationship between revenue and cost of revenue, as gross margin rose to a higher level than both prior periods.
Compared with the immediately preceding quarter, revenue, gross profit, and cost of revenue were higher, and gross margin improved. Compared with the same quarter one year earlier, all three underlying metrics were higher, and gross margin was also higher.
Monitor the company's ability to sustain revenue growth at a pace that exceeds cost of revenue increases, as this dynamic directly supports gross margin.