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Sep 9, 2021
[2 min Read]
Alright Apes, this is following on from my DD a few days ago, RKLB price has grown about 40% since then. Results have just been announced and there's some real nice stuff in there, I've tried to condense it a bit below and highlight the best bits.
Revenue is not that high and this is to be expected, they're a growing company furiously investing in their future. Still profitable though which can't be said of SPCE, ASTR and Blue Origin. Backlog has shot up (137%), lots of work to keep them busy and keep the money coming in.
The most important thing is the amount of diversification. Their Space Systems business has grown significantly. They are quickly becoming a full service launch provider. You could argue they're more diverse than Space X in some regards. This is why I think they're such a safe long term bet. In the short term though, as more people are learning about them, the price is shooting up so there is money to be made. I'm personally targeting $30 a share short term and even that is conservative as that still values them well under SPCE at its' peak, and SPCE is nowhere near as valuable a stock as RKLB
Revenue of $29.5M, representing 237% Year-on-Year revenue growth, accompanied by an expansion in gross margins from negative 67% to a positive 13%.
Increasing diversity in revenue, with Space Systems contributing 18% of total revenue in the period, compared to 3% in the prior year, accompanied with gross margins of 65%.
Backlog grew 136% Year-on-Year to $141.4 million as of June 30, 2021 as compared to backlog of $59.9 million as of June 30, 2020.
Since June 30, 2021 Rocket Lab also:
positions: 500 shares/average $10.50