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Rocket Lab Corp cash flow statement

In fiscal 2025, Rocket Lab Corp's operations generated −$166m of cash; it spent $156m on capital projects, leaving free cash flow of −$322m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−28−72−107−99−49−166−222
Depreciation and amortisation9113030344445
Stock-based pay4335653577182
Capital spending2526425567156149
Free cash flow−53−97−149−154−116−322−371
Free cash flow after stock pay−57−130−205−207−173−393−453
Shares issued———001,1462,279

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Rocket Lab Corp's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Rocket Lab Corp.