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Rocket Lab USA, Inc. logo

Rocket Lab USA, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

Rocket Lab USA, Inc. generated -$161.6M in operating cash flow over the trailing twelve months. After $154.7M in capital expenditures, free cash flow was -$316.3M. Free cash flow decreased 0.8% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)-$161.6MNet Cash From Investing (TTM)-$354.5MNet Cash From Financing (TTM)$1.4BCapital Expenditures (TTM)$154.7MDepreciation And Amortization Cf (TTM)$50.2MNet Change In Cash (TTM)$902.8M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$71.7B
ROE-13.55%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0$0———$8M
Capital expenditures$21.6M$28.7M$32M$45.9M$49.7M$27.1M
Proceeds from disposals of property, plant and equipment$786K$16K$128K$253K$0$715K
Net cash from investing activities-$17.9M-$28.6M-$7.4M-$207.2M-$104.1M-$35.7M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts receivable$14.4M$3M$22.3M-$5.9M-$20.1M$35.7M
Change in accrued liabilities$6.1M-$2.7M$6.7M-$1.4M-$4.6M$10.8M
Change in deferred revenue$49.1M-$9.3M$16.5M-$16.4M-$12.4M$45.8M
Change in inventories$5.3M$6.3M$5.2M$14.1M$14.3M$24.6M
Change in other assets$13.5M-$1.6M-$10.3M—-$5.7M$26.1M
Deferred income taxes—-$585K$2M-$34.5M$0$1.2M
Depreciation and amortization$9.1M$8.7M$8.8M$11.7M$14.7M$15M
Net cash from operating activities-$2.4M-$54.2M-$23.2M-$23.5M-$64.5M-$50.3M
Net income-$52.3M-$60.6M-$66.4M-$18.3M-$52.9M-$45M
Accretion (Amortization) of Discounts and Premiums, Investments$629K$561K$538K$500K$646K$458K
Amortization expense related to capitalized debt issuance costs$819K$831K$860K$860K$589K$133K
Contingent consideration fair value adjustments—$0$0$0-$10.6M$187K
Gain (Loss) on Disposition of Assets$472K-$13K-$1.5M-$853K-$257K$409K
Accounts payable$10.9M$9.8M$1.4M-$12.8M$11.9M-$8.2M
Increase (Decrease) in Contract with Customer, Asset$13.7M-$2.2M-$9M-$1.4M—$13.4M
Accrued compensation and employee benefits$1.8M-$253K$3.5M$40.1M—$1.3M
Non-current lease liabilities-$2.1M-$1.7M-$4.9M-$1.7M-$3.2M-$3M
Current liabilities—-$3.7M$3.8M-$1.5M$2.2M-$2.9M
Other long-term liabilities$556K$245K$137K—$161K$71K
Increase (Decrease) in Prepaid Expense and Other Assets-$5.6M$9.6M$8.4M——-$4.1M
Noncash lease expense$1.5M$1.5M$2M$2.4M$2.3M$2.8M
Stock-based compensation$16.9M$19.2M$17.9M$15.7M$18.2M$28.1M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Finance Lease, Principal Payments$60K$61K$65K$71K$71K$73K
Payments Of Debt Issuance Costs—$278K———$0
Payments Of Stock Issuance Costs$0$2.1M$7.4M$10.6M$6.4M$4.7M
Proceeds from Employee Stock Purchase Plan$1.6M$2.2M$2.6M$2.9M$3.3M$4.2M
Proceeds from sale of employees restricted stock units to cover taxes$20.3M$17.3M$23.4M$39.9M$32.7M$52.3M
Restricted Stock, Value, Shares Issued Net of Tax Withholdings$20.2M$16.6M$23.8M$25.3M$47.8M$39.8M
Net cash from financing activities$183K$115.5M$290.5M$475.7M$189.5M$463.3M
Proceeds from issuance of common stock$0$92.8M$303.8M$468.8M$280.6M$450.3M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow-$23.9M-$82.9M-$55.3M-$69.4M-$114.2M-$77.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$1.4M$272K$855K-$1.2M-$24K$237K
Net increase (decrease) in cash—$32.9M$260.7M$243.7M$20.8M$377.5M
Accrued issuance costs in connection with Loan Agreement$0$0$0$0$0—
Accrued payables for capital expenditures—$10.5M———$21.1M
Convertible senior notes, net and accrued interest settled by issuance of common stock—$0———$115.9M
Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction$0$615K—$102K$24K$685K
Early termination of right-of-use assets$0$0$0$0$0—
Issuance of common stock warrants in connection with Loan Agreement$0$0$0$0$0—
Payable to sellers in connection with business combinations$0$0———$1.4M
Leased assets obtained in exchange for operating lease liabilities$2.9M$179K$19.4M$17.1M$2.6M$2.8M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$2M$9.6M$2.7M$9.6M$2.7M$3.4M
Issuances of common stock from employee benefit plans receivable$0$49.3M$49.3M$49.3M$49.3M—
Income Taxes Paid, Net—$214K$214K$145K$281K$255K