0000950170-23-061189 | 10-Q | XBRL Viewer

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SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES Principals of Consolidation and Basis of Presentation The accompanying unaudited condensed consolidated financial statements are presented in conformity with accounting standards generally accepted in the United States of America (“U.S. GAAP”) and the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information and include the accounts of Rocket Lab USA, Inc. and its wholly owned subsidiaries after elimination of intercompany accounts and transactions. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of the Company’s financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2023, or for any other interim period or for any other future year. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, our management evaluates estimates and assumptions including those related to revenue recognition, contract costs, loss reserves, valuation of warrants and stock-based compensation and deferred tax valuation allowances. We based our estimates on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Actual results could differ from these estimates and assumptions. Other Significant Accounting Policies There have been no significant changes to the Company’s significant accounting policies during the nine months ended September 30, 2023, except for the addition of an accounting policy with respect to assets held for sale and customer financing below. Refer to Note 2 - Significant Accounting Policies disclosed in the “Notes to Consolidated Financial Statements” in the Company’s Form 10-K for the year ended December 31, 2022, as filed with the SEC on March 7, 2023. Assets Held For Sale The Company generally considers assets to be held for sale when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Property classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Customer Financing The Company records customer financing receivables net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note to interest income in the condensed consolidated statements of operations and comprehensive loss. Interest income recognition is generally suspended for customer financing receivables that are uncollectible. The Company measures and records expected credit losses related to its customer financing in accordance with the current expected credit losses (“CECL”) standard. The CECL standard requires an entity to consider historical loss experience, current conditions, and a reasonable and supportable forecast of the economic environment.

Inventories - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Line Items]
Raw materials	$ 47,534	$ 33,376
Work in process	43,992	50,661
Finished goods	10,868	8,242
Total inventories	$ 102,394	$ 92,279

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Remaining unsatisfied performance obligations	$ 582,442	$ 582,442
Revenue recognized description		approximately 57% is expected to be recognized within 12 months, with the remaining 43% to be recognized beyond 12 months
Other non-current assets	17,975	$ 17,975	$ 7,303
Customer financing interest income	87	$ 87
Commercial Customer [Member]
Disaggregation of Revenue [Line Items]
Revenue recognized description		The receivable will bear no interest until the initial launch dates passes, after which interest will accrue at a fixed rate of 10.8%. Principal and interest payments will be made over 12 quarterly payments from the launch date.
Financing Receivable [Member]
Disaggregation of Revenue [Line Items]
Other non-current assets	14,467	$ 14,467
Prepaid [Member]
Disaggregation of Revenue [Line Items]
Other non-current assets	$ 3,733	$ 3,733

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property Plant and Equipment, Net

Property, plant and equipment, net, as of September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023			December 31, 2022
Buildings and improvements	$	49,643		$	36,493
Machinery, equipment, vehicles and office furniture		57,100			54,300
Computer equipment, hardware and software		9,940			7,517
Launch site assets		13,515			12,822
Construction in process		49,868			26,771
Property, plant and equipment—gross		180,066			137,903
Less accumulated depreciation and amortization		(44,078	)		(36,389	)
Property, plant and equipment—net	$	135,988		$	101,514

Depreciation expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three and nine months ended September 30, 2023 and 2022 consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
Depreciation expense	2023		2022		2023		2022
Cost of revenues	$	2,084	$	3,476	$	6,374	$	9,234
Research and development		1,166		615		3,010		1,396
Selling, general and administrative		832		156		1,613		874
Total depreciation expense	$	4,082	$	4,247	$	10,997	$	11,504

BUSINESS COMBINATION

9 Months Ended

Sep. 30, 2023

Business Combinations [Abstract]

BUSINESS COMBINATIONS

BUSINESS COMBINATION AND ASSET ACQUISITION

SolAero

On January 18, 2022, the Company closed on the acquisition (the “SolAero Acquisition”) of SolAero Holdings, Inc. (“SolAero”) pursuant to an Agreement and Plan of Merger (the “SolAero Merger Agreement”), dated as of December 10, 2021, by and among the Company, Supernova Acquisition Corp. (“SolAero Merger Sub”), SolAero, and Fortis Advisors LLC as stockholder representative, which provides for, among other things, the merger of SolAero Merger Sub with and into SolAero, with SolAero being the surviving corporation of the merger and a direct, wholly owned subsidiary of the Company. Pursuant to the terms of the SolAero Merger Agreement, all of the issued and outstanding shares of SolAero were cancelled in exchange for aggregate consideration of $80,000 in cash, subject to customary adjustments at closing for cash, working capital, transaction expenses and indebtedness, and amounts held back by the Company (the “SolAero Merger Consideration”). In addition, $3,600 of the SolAero Merger Consideration was placed into escrow by the Company in order to secure recovery of any Adjustment Amount (as defined in the SolAero Merger Agreement) and as security against indemnity claims. In connection with the SolAero Acquisition, the Company entered into customary employment or consulting agreements with certain key employees of SolAero.

Acquisition Consideration

The acquisition-date consideration transferred consisted of cash of $76,181. The following table presents estimates of the fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


Description	Amount
Cash and cash equivalents	$	7,815
Accounts receivable		12,322
Inventories		17,765
Prepaids and other current assets		3,536
Property, plant and equipment		24,689
Intangible assets		33,600
Right-of-use assets - operating leases (1)		1,128
Right-of-use assets - finance leases (1)		16,174
Restricted cash		3,293
Trade payables		(9,795	)
Accrued expenses		(6,883	)
Contract liabilities (2)		(26,014	)
Other current liabilities		(10,145	)
Non-current operating lease liabilities (1)		(1,128	)
Non-current finance lease liabilities (1)		(15,874	)
Other assets and liabilities, net		(204	)
Identifiable net assets acquired		50,279
Goodwill		25,902
Total purchase price	$	76,181

_________________________

(1) SolAero, as a private company, had not adopted ASC 842 prior to the acquisition. Upon acquisition, SolAero adopted ASC 842 to align accounting policies with the Company.

(2) Contract liabilities was recorded under ASC 606 in accordance with ASU No. 2021-08; therefore a reduction in contract liabilities related to the estimated fair values of the acquired contract liabilities was not required.

The following is a summary of identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:


Type	Estimated Life in Years	Fair Value
Developed technology	13	$	10,700
In-process technology	N/A		800
Capitalized software	3		5,400
Customer relationships	12		9,000
Trademark and tradenames	12		4,700
Backlog	2		3,000
Total identifiable intangible assets acquired		$	33,600

Goodwill of $25,902 was recorded for the SolAero Acquisition, representing the excess of the purchase price over the fair value of the identifiable net assets. Goodwill recognized primarily represents the future revenue and earnings potential and certain other assets which were acquired, but that do not meet the recognition criteria, such as assembled workforce. The goodwill is expected to be deductible for income tax purposes as, prior to the merger, SolAero held tax deductible goodwill in excess of the amount recorded.

Asset Purchase Agreement

On June 2, 2023, Company closed on the purchase of certain assets pursuant to an Asset Purchase Agreement (the “Virgin APA”) with Virgin Orbit Holdings, Inc. to acquire certain assets, including a real property lease for a property located in Long Beach, California and certain production assets, machinery and equipment.

The acquisition was accounted for as an asset acquisition and the total purchase price consideration of $16,934 (which includes $815 of transaction costs) was allocated to the assets acquired on a relative fair value basis. The following table presents estimates of the relative fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


Description	Amount
Property, plant and equipment	$	15,658
Right-of-use assets - operating leases		13,939
Other non-current assets		189
Other current liabilities		(1,125	)
Non-current operating lease liabilities		(10,375	)
Other non-current liabilities		(1,352	)
Total purchase price	$	16,934

Fair Value of Financial Instruments - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Fair Value Measurements [Line Items]
Transfers between fair value measurement levels	$ 0

DESCRIPTION OF THE BUSINESS	9 Months Ended
DESCRIPTION OF THE BUSINESS	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS	1. DESCRIPTION OF THE BUSINESS Rocket Lab USA, Inc. (“Rocket Lab” and, together with its consolidated subsidiaries, the “Company,” “we,” “us” or “our”) is an end-to-end space company with an established track record of mission success headquartered in Long Beach, California and is the parent company for several wholly owned operating subsidiaries located in the United States, New Zealand, Canada and Australia. We deliver reliable launch services, spacecraft design services, spacecraft components, spacecraft manufacturing and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. We operate one of the only private orbital launch ranges in the world, located in Mahia, New Zealand, enabling a unique degree of operational flexibility and control of customer launch manifests and mission assurance. While our business has historically been centered on the development of small-class launch vehicles and related sale of launch services, we are currently innovating in the areas of medium-class launch vehicles and launch services, space systems design and manufacturing, on-orbit management solutions, and space data applications.

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Stock-based Compensation Recorded in Consolidated Statements of Operations and Comprehensive Loss

Total stock-based compensation recorded in the condensed consolidated statements of operations and comprehensive loss during the three and nine months ended September 30, 2023 and 2022 consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
Stock-based compensation	2023		2022		2023		2022
Cost of revenues	$	3,182	$	4,964	$	10,325	$	14,091
Research and development		6,219		5,309		17,893		16,685
Selling, general and administrative		4,697		4,212		15,180		12,536
Total stock-based compensation expense	$	14,098	$	14,485	$	43,398	$	43,312

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (132,074)	$ (98,736)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	21,577	21,590
Stock-based compensation expense	43,398	43,312
Loss on disposal of assets	240	32
Amortization of debt issuance costs and discount	2,166	2,107
Noncash lease expense	4,062	2,312
Noncash (income) expense associated with liability-classified warrants	0	(13,482)
Change in the fair value of contingent consideration	1,138	200
Accretion of marketable securities purchased at a discount	(3,399)	(421)
Deferred income taxes	644	1,167
Changes in operating assets and liabilities:
Accounts receivable	13,798	(30,752)
Contract assets	(3,592)	(6,960)
Inventories	(10,933)	(17,635)
Prepaids and other current assets	(15,819)	(17,173)
Other non-current assets	(10,712)	3,281
Trade payables	12,026	(1,625)
Accrued expenses	(2,187)	(3,530)
Employee benefits payables	5,285	2,519
Contract liabilities	25,450	26,404
Other current liabilities	(4,632)	2,310
Non-current lease liabilities	(3,316)	(2,551)
Other non-current liabilities	230	39
Net cash used in operating activities	(56,650)	(87,592)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, equipment and software	(44,293)	(27,419)
Cash paid for business combinations and asset acquisitions, net of acquired cash and restricted cash	(16,934)	(65,824)
Purchases of marketable securities	(207,266)	(179,853)
Maturities of marketable securities	219,340	240
Net cash used in investing activities	(49,153)	(272,856)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the exercise of stock options and public warrants	2,293	4,278
Proceeds from Employee Stock Purchase Plan	3,780	3,149
Proceeds from sale of employees restricted stock units to cover taxes	12,390	28,587
Minimum tax withholding paid on behalf of employees for restricted stock units	(12,352)	(28,308)
Tax payment for net settled option shares	0	(444)
Payment of contingent consideration	(1,000)	(5,500)
Finance lease principal payments	(248)	(193)
Net cash provided by financing activities	4,863	1,569
Effect of exchange rate changes on cash and cash equivalents	(439)	3,091
Net decrease in cash and cash equivalents and restricted cash	(101,379)	(355,788)
Cash and cash equivalents, and restricted cash, beginning of period	245,871	692,075
Cash and cash equivalents, and restricted cash, end of period	144,492	336,287
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	10,741	7,594
Cash paid for income taxes	574	2,518
Unpaid purchases of property, equipment and software	2,207	2,476
Right-of-use assets obtained in exchange for new operating lease liabilities	979	6,343
Common stocks issued in acquisition, at fair value	2,087	0
Net exercise of public and private warrants into common stock	0	44,739
Issuance of common stock for payment of accrued bonus	$ 0	$ 1,441

Goodwill and Intangible Assets, Net - Summary of Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 3,250	$ 3,453	$ 9,809	$ 9,679
Cost of revenues [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	1,775	1,856	5,335	3,269
Research and Development [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	13	29	79	3,394
Selling, General and Administrative [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 1,462	$ 1,568	$ 4,395	$ 3,016

Cash and Cash Equivalents and Marketable Securities - Summary of Contractual Maturities of Marketable Securities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Marketable Securities [Line Items]
Amortized Cost	$ 319,774
Fair Value	318,673
Due to One Year [Member]
Marketable Securities [Line Items]
Amortized Cost	236,911
Fair Value	236,722
Due Within One To Three Years [Member]
Marketable Securities [Line Items]
Amortized Cost	82,863
Fair Value	$ 81,951

REVENUES

9 Months Ended

Sep. 30, 2023

REVENUES

The following table provides information about revenue by recognition model during the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
Revenues by recognition model	2023		2022		2023		2022
Point-in-time	$	30,226	$	31,312	$	94,558	$	96,656
Over-time		37,435		31,745		90,043		62,578
Total revenue by recognition model	$	67,661	$	63,057	$	184,601	$	159,234

The timing of revenue recognition, billings, and cash collections results in billed accounts receivable, unbilled receivables (presented within contract assets) and customer advances and deposits (presented within contract liabilities) on the condensed consolidated balance sheets, where applicable. Amounts are generally billed as work progresses in accordance with agreed-upon milestones. These individual contract assets and liabilities are reported in a net position on a contract-by-contract basis on the condensed consolidated balance sheets at the end of each reporting period.

The following table presents the balances related to enforceable contracts as of September 30, 2023 and December 31, 2022:


	September 30, 2023			December 31, 2022
Contract balances
Accounts receivable, net	$	22,787		$	36,572
Contract assets		13,042			9,451
Contract liabilities		(133,793	)		(108,344	)

Changes in contract liabilities for the three months ended September 30, 2023 were as follows:


Contract liabilities, at June 30, 2023	$	134,574
Customer advances received or billed		40,128
Recognition of unearned revenue		(40,909	)
Contract liabilities, at September 30, 2023	$	133,793

Changes in contract liabilities for the nine months ended September 30, 2023 were as follows:


Contract liabilities, at December 31, 2022	$	108,344
Customer advances received or billed		108,711
Recognition of unearned revenue		(83,262	)
Contract liabilities, at September 30, 2023	$	133,793

The revenue recognized from the contract liabilities consisted of the Company satisfying performance obligations during the normal course of business.

The amount of revenue recognized from changes in the transaction price associated with performance obligations satisfied in prior years during the three and nine months ended September 30, 2023 and 2022 was not material.

Backlog

The Company’s backlog represents the total dollar value of work to be performed on contracts awarded and in progress. The amount of backlog increases with new contracts or additions to existing contracts and decreases as revenue is recognized on existing contracts. Contracts are included in the amount of backlog when an enforceable agreement has been reached. Remaining backlog totaled $582,442 as of September 30, 2023, of which approximately 57% is expected to be recognized within 12 months, with the remaining 43% to be recognized beyond 12 months.

Concentration of Credit Risk and Significant Customers

As of September 30, 2023, the Company’s customers that accounted for 10% or more of the total accounts receivable, net, were:


	September 30, 2023
Dynetics, Inc.		19	%
National Aeronautics and Space Administration		13	%

For the nine months ended September 30, 2023, the Company’s customers that accounted for 10% or more of the total revenue, were as follows:


	Nine Months Ended September 30, 2023
Northrop Grumman Corporation		13	%
Capella Space Corp.		12	%

Customer Financing

In connection with the signing of a multi-launch agreement with a commercial customer, the Company entered into a subordinated loan and security agreement. The commercial customer may choose to have certain milestone payments financed under the terms of the subordinated loan and security agreement. The receivable will bear no interest until the initial launch dates passes, after which interest will accrue at a fixed rate of 10.8%. Principal and interest payments will be made over 12 quarterly payments from the launch date.

As of September 30, 2023, the Company had $3,733 customer financing in prepaid and other currents assets and $14,467 customer financing receivable in other non-current assets on the condensed consolidated balance sheets. Customer financing interest income for the three and nine months ended September 30, 2023 was $87.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

9 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash and cash equivalents and marketable securities

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

Cash and cash equivalents and marketable securities consisted of the following as of September 30, 2023 and December 31, 2022:


	September 30, 2023		December 31, 2022
Cash and cash equivalents	$	140,904	$	242,515
Marketable securities, current		147,513		229,276
Marketable securities, non-current		81,951		9,193
Total cash and cash equivalents and marketable securities	$	370,368	$	480,984

As of September 30, 2023, cash equivalents and marketable securities consisted of the following:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Money market accounts	$	87,416	$	—	$	—		$	87,416	$	87,416	$	—
Certificates of deposit		31,332		4		(16	)		31,320		—		31,320
Commercial paper		50,550		1		(20	)		50,531		1,793		48,738
Corporate debt securities		63,567		13		(181	)		63,399		—		63,399
Yankee bonds		3,865		—		(3	)		3,862		—		3,862
U.S. Treasury securities		64,204		1		(865	)		63,340		—		63,340
U.S. government agency bonds		3,000		—		(3	)		2,997		—		2,997
Mortgage- and asset-backed securities		15,840		2		(34	)		15,808		—		15,808
Total	$	319,774	$	21	$	(1,122	)	$	318,673	$	89,209	$	229,464

The following table presents the Company’s cash equivalents and marketable securities with unrealized losses by investment category and the length of time the cash equivalents and marketable securities have been in a continuous loss position as of September 30, 2023:


	In Loss Position for Less than 12 Months					In Loss Position for Greater than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Certificates of deposit	$	19,117	$	(16	)	$	—	$	—		$	19,117	$	(16	)
Commercial paper		42,321		(20	)		—		—			42,321		(20	)
Corporate debt securities		51,346		(161	)		1,230		(20	)		52,576		(181	)
Yankee bonds		2,633		(2	)		1,229		(1	)		3,862		(3	)
U.S. Treasury securities		56,854		(865	)		—		—			56,854		(865	)
U.S. government agency bonds		2,997		(3	)		—		—			2,997		(3	)
Mortgage- and asset-backed securities		9,522		(16	)		3,448		(18	)		12,970		(34	)
Total	$	184,790	$	(1,083	)	$	5,907	$	(39	)	$	190,697	$	(1,122	)

The Company has not observed a significant deterioration in credit quality of these securities, which are highly rated with moderate to low credit risk. Declines in value are largely attributable to current global economic conditions. The securities continue to make timely principal and interest payments, and the fair values are expected to recover as they approach maturity. The Company does not intend to sell the securities, and it is not more likely than not that the Company will be required to sell the securities, before the respective recoveries of their amortized cost bases, which may be maturity. As of September 30, 2023, the Company had not recognized an allowance for credit losses on any marketable securities in an unrealized loss position.

The following table summarizes the contractual maturities of the Company’s cash equivalents and marketable securities as of September 30, 2023:


	Amortized Cost		Fair Value
Due within one year	$	236,911	$	236,722
Due within one to three years		82,863		81,951
Total	$	319,774	$	318,673

PUBLIC AND PRIVATE WARRANTS - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended
	Jan. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 22, 2021
Class of Warrant or Right [Line Items]
Gain on fair value of exercise of warrants		$ 0	$ 0	$ 0	$ (13,482,000)
Common Stock Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants exercise price			$ 11.5		$ 11.5
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 11.5		$ 11.5
Warrants and rights outstanding			$ 10,969		$ 10,969
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants issued			10,383,077		10,383,077
Warrants exercise price						$ 11.5
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			10,383,077		10,383,077
Class of Warrant or Right, Exercise Price of Warrants or Rights						11.5
Warrants and rights outstanding			$ 1,592,080		$ 1,592,080
Number of securities called by each warrant or right		0	2,951,781	0	2,951,781
Number of warrants issued					10,969
Class of warrant or right, date from which warrants or rights exercisable				Sep. 29, 2021
Cash proceeds from warrants issued	$ 27				$ 126
Warrants Issued and Outstanding	270,470
Warrant exercise price per share	$ 0.1
Public Warrants and Private Warrants [Member]
Class of Warrant or Right [Line Items]
Gain on fair value of exercise of warrants					$ 13,482
Private Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants Issued and Outstanding			5,600,000		5,600,000
Common Stock [Member] \| Public Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding		$ 10,666,666		$ 10,666,666
Common Stock [Member] \| Public Warrants and Private Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants exercise price		$ 11.5		$ 11.5		0.2843
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 11.5		$ 11.5		$ 0.2843
Common Stock [Member] \| Private Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding		$ 5,600,000		$ 5,600,000

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, share authorized	2,500,000,000	2,500,000,000
Common stock, share issued	485,857,768	475,356,517
Common stock, share outstanding	485,857,768	475,356,517

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Principals of Consolidation and Basis of Presentation	Principals of Consolidation and Basis of Presentation The accompanying unaudited condensed consolidated financial statements are presented in conformity with accounting standards generally accepted in the United States of America (“U.S. GAAP”) and the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information and include the accounts of Rocket Lab USA, Inc. and its wholly owned subsidiaries after elimination of intercompany accounts and transactions. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of the Company’s financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2023, or for any other interim period or for any other future year.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, our management evaluates estimates and assumptions including those related to revenue recognition, contract costs, loss reserves, valuation of warrants and stock-based compensation and deferred tax valuation allowances. We based our estimates on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Actual results could differ from these estimates and assumptions.
Other Significant Accounting Policies	Other Significant Accounting Policies There have been no significant changes to the Company’s significant accounting policies during the nine months ended September 30, 2023, except for the addition of an accounting policy with respect to assets held for sale and customer financing below. Refer to Note 2 - Significant Accounting Policies disclosed in the “Notes to Consolidated Financial Statements” in the Company’s Form 10-K for the year ended December 31, 2022, as filed with the SEC on March 7, 2023.
Assets Held For Sale	Assets Held For Sale The Company generally considers assets to be held for sale when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Property classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell.
Customer Financing	Customer Financing The Company records customer financing receivables net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note to interest income in the condensed consolidated statements of operations and comprehensive loss. Interest income recognition is generally suspended for customer financing receivables that are uncollectible. The Company measures and records expected credit losses related to its customer financing in accordance with the current expected credit losses (“CECL”) standard. The CECL standard requires an entity to consider historical loss experience, current conditions, and a reasonable and supportable forecast of the economic environment.

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Summary of Cash and Cash Equivalents and Marketable Securities

Cash and cash equivalents and marketable securities consisted of the following as of September 30, 2023 and December 31, 2022:


	September 30, 2023		December 31, 2022
Cash and cash equivalents	$	140,904	$	242,515
Marketable securities, current		147,513		229,276
Marketable securities, non-current		81,951		9,193
Total cash and cash equivalents and marketable securities	$	370,368	$	480,984

Schedule of Cash Equivalents and Marketable Securities

As of September 30, 2023, cash equivalents and marketable securities consisted of the following:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Money market accounts	$	87,416	$	—	$	—		$	87,416	$	87,416	$	—
Certificates of deposit		31,332		4		(16	)		31,320		—		31,320
Commercial paper		50,550		1		(20	)		50,531		1,793		48,738
Corporate debt securities		63,567		13		(181	)		63,399		—		63,399
Yankee bonds		3,865		—		(3	)		3,862		—		3,862
U.S. Treasury securities		64,204		1		(865	)		63,340		—		63,340
U.S. government agency bonds		3,000		—		(3	)		2,997		—		2,997
Mortgage- and asset-backed securities		15,840		2		(34	)		15,808		—		15,808
Total	$	319,774	$	21	$	(1,122	)	$	318,673	$	89,209	$	229,464

Summary of Cash Equivalents and Marketable Securities with Unrealized Losses


	In Loss Position for Less than 12 Months					In Loss Position for Greater than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Certificates of deposit	$	19,117	$	(16	)	$	—	$	—		$	19,117	$	(16	)
Commercial paper		42,321		(20	)		—		—			42,321		(20	)
Corporate debt securities		51,346		(161	)		1,230		(20	)		52,576		(181	)
Yankee bonds		2,633		(2	)		1,229		(1	)		3,862		(3	)
U.S. Treasury securities		56,854		(865	)		—		—			56,854		(865	)
U.S. government agency bonds		2,997		(3	)		—		—			2,997		(3	)
Mortgage- and asset-backed securities		9,522		(16	)		3,448		(18	)		12,970		(34	)
Total	$	184,790	$	(1,083	)	$	5,907	$	(39	)	$	190,697	$	(1,122	)

Summary of Contractual Maturities of Cash Equivalents and Marketable Securities

The following table summarizes the contractual maturities of the Company’s cash equivalents and marketable securities as of September 30, 2023:


	Amortized Cost		Fair Value
Due within one year	$	236,911	$	236,722
Due within one to three years		82,863		81,951
Total	$	319,774	$	318,673

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Statements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based Compensation Expense	$ 14,098	$ 14,485	$ 43,398	$ 43,312
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based Compensation Expense	3,182	4,964	10,325	14,091
Research And Development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based Compensation Expense	6,219	5,309	17,893	16,685
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based Compensation Expense	$ 4,697	$ 4,212	$ 15,180	$ 12,536

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (40,568)	$ (45,889)	$ (45,617)	$ (34,610)	$ (37,417)	$ (26,709)	$ (132,074)	$ (98,736)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SUBSEQUENT EVENTS (Additional Information) (Details) - Subsequent Event [Member] $ in Thousands	Oct. 18, 2023 USD ($)
Subsequent Event [Line Items]
Subsequent Event, Date	Oct. 18, 2023
Subsequent Event, Description	Company sold one of the Company's held for sale helicopters to a purchaser unaffiliated with the Company
Helicopter [Member]
Subsequent Event [Line Items]
Sale of asset held for sale	$ 3,900
Carrying value of asset held for sale	$ 2,687

PREPAIDS AND OTHER CURRENT ASSETS

9 Months Ended

Sep. 30, 2023

Prepaid Expense and Other Assets, Current [Abstract]

PREPAIDS AND OTHER CURRENT ASSETS

Prepaids and other current assets as of September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
Prepaid expenses and deposits	$	46,957	$	43,126
Government grant receivables		12,626		1,443
Customer financing receivables		3,733		—
Other current assets		5,025		7,632
Total prepaids and other current assets	$	68,341	$	52,201

REVENUES (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Reconciliation of Disaggregation of Revenue

The following table provides information about revenue by recognition model during the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
Revenues by recognition model	2023		2022		2023		2022
Point-in-time	$	30,226	$	31,312	$	94,558	$	96,656
Over-time		37,435		31,745		90,043		62,578
Total revenue by recognition model	$	67,661	$	63,057	$	184,601	$	159,234

The following table presents the balances related to enforceable contracts as of September 30, 2023 and December 31, 2022:


	September 30, 2023			December 31, 2022
Contract balances
Accounts receivable, net	$	22,787		$	36,572
Contract assets		13,042			9,451
Contract liabilities		(133,793	)		(108,344	)

Changes in Contract Liabilities

Changes in contract liabilities for the three months ended September 30, 2023 were as follows:


Contract liabilities, at June 30, 2023	$	134,574
Customer advances received or billed		40,128
Recognition of unearned revenue		(40,909	)
Contract liabilities, at September 30, 2023	$	133,793

Changes in contract liabilities for the nine months ended September 30, 2023 were as follows:


Contract liabilities, at December 31, 2022	$	108,344
Customer advances received or billed		108,711
Recognition of unearned revenue		(83,262	)
Contract liabilities, at September 30, 2023	$	133,793

Schedule of Concentration of Credit Risk and Significant Customers

As of September 30, 2023, the Company’s customers that accounted for 10% or more of the total accounts receivable, net, were:


	September 30, 2023
Dynetics, Inc.		19	%
National Aeronautics and Space Administration		13	%

For the nine months ended September 30, 2023, the Company’s customers that accounted for 10% or more of the total revenue, were as follows:


	Nine Months Ended September 30, 2023
Northrop Grumman Corporation		13	%
Capella Space Corp.		12	%

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, share issued		485,857,768		485,857,768		475,356,517
2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period				4 years
Options vesting on first anniversary of date of grant, percentage				25.00%
Two Thousand Twenty One Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 345,000		$ 345,000
Common stock, share issued		681,018	527,380	681,018	527,380
Sale of aggregate, shares		59,875,000		59,875,000
Outstanding number of shares of common stock Percentage						5.00%
Shares authorized to issue under equity award plan		99,589,400		99,589,400
Shares available for grant		83,279,855		83,279,855
Stock-based compensation		$ 423,000	$ 59,000	$ 1,819,000	$ 2,718,000
Two Thousand Twenty One Plan [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock for issuance for awards	9,980,000
Common Stock Outstanding Rate	1.00%
Employee Stock Options Discount Rate	15.00%
Two Thousand Twenty One Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of aggregate, shares		17,457,414		17,457,414
Performance-Based Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted expected to be recognized period				4 years
Performance-Based Restricted Stock Units (RSUs) [Member] \| 2013 Plan And 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units, granted				10,196,987	14,464,435
Stock-based compensation				$ 6,813

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

As of September 30, 2023 and December 31, 2022 the following financial assets and liabilities are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as follows:


	September 30, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market accounts	$	87,416	$	—	$	—	$	87,416
Commercial paper		—		1,793		—		1,793
Marketable securities, current:
Certificates of deposit		—		31,320		—		31,320
Commercial paper		—		48,738		—		48,738
Corporate debt securities		—		51,180		—		51,180
Yankee bonds		—		3,862		—		3,862
U.S. Treasury securities		9,080		—		—		9,080
U.S. government agency bonds		2,997		—		—		2,997
Mortgage- and asset-backed securities		—		336		—		336
Marketable securities, non-current
Corporate debt securities		—		12,219		—		12,219
U.S. Treasury securities		54,260		—		—		54,260
Mortgage- and asset-backed securities		—		15,472		—		15,472
Total	$	153,753	$	164,920	$	—	$	318,673
Liabilities:
Other non-current liabilities:
Contingent consideration	$	—	$	—	$	851	$	851
Total	$	—	$	—	$	851	$	851


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market accounts	$	204,027	$	—	$	—	$	204,027
Commercial paper		—		4,980		—		4,980
Corporate debt securities		—		3,459		—		3,459
Marketable securities, current:
Certificates of deposit		—		52,713		—		52,713
Commercial paper		—		71,885		—		71,885
Corporate debt securities		—		62,316		—		62,316
Yankee bonds		—		4,768		—		4,768
U.S. Treasury securities		7,508		—		—		7,508
U.S. government agency bonds		30,086		—		—		30,086
Marketable securities, non-current
Corporate debt securities		—		1,231		—		1,231
Mortgage- and asset-backed securities		—		7,962		—		7,962
Total	$	241,621	$	209,314	$	—	$	450,935
Liabilities:
Other non-current liabilities:
Contingent consideration	$	—	$	—	$	1,800	$	1,800
Total	$	—	$	—	$	1,800	$	1,800

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2023	Nov. 03, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	ROCKET LAB USA, INC.
Entity Central Index Key	0001819994
Securities Act File Number	001-39560
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Tax Identification Number	98-1550340
Entity Address, Address Line One	3881 McGowen Street
Entity Address, City or Town	Long Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90808
City Area Code	714
Local Phone Number	465-5737
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		485,886,993
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	RKLB
Security Exchange Name	NASDAQ

LEASES

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

LEASES

15.

LEASES

The Company has operating and finance leases for properties, vehicles and equipment. The Company’s leases have remaining lease terms of one year to twenty-seven years, some of which include options to extend the lease term, and some of which include options to terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options.

In connection with the Virgin APA, the Company assumed an operating lease. The Company recorded an operating lease liability of $11,500 and an operating lease right-of-use asset of $13,939, which reflects terms that are favorable relative to the current market terms, in connection with the assumed lease. There have been no other material changes in the Company’s lease portfolio since December 31, 2022.

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

9 Months Ended

Sep. 30, 2023

Components of Intangible Assets

The components of intangible assets consisted of the following as of September 30, 2023 and December 31, 2022:


	September 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Developed Technology	$	56,065	$	(14,939	)	$	41,126
Capitalized software		10,589		(6,631	)		3,958
Customer relationships		16,120		(2,897	)		13,223
Trademarks and tradenames		10,103		(1,581	)		8,522
Backlog		3,491		(2,991	)		500
Other		1,155		(380	)		775
Indefinite-Lived Intangible Assets
In-process Technology		2,300		—			2,300
Total	$	99,823	$	(29,419	)	$	70,404


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Developed Technology	$	55,765	$	(9,809	)	$	45,956
Capitalized software		10,502		(5,023	)		5,479
Customer relationships		16,122		(1,866	)		14,256
Trademarks and tradenames		10,104		(947	)		9,157
Backlog		3,491		(1,866	)		1,625
Other		898		(279	)		619
Indefinite-Lived Intangible Assets
In-process Technology		2,600		—			2,600
Total	$	99,482	$	(19,790	)	$	79,692

Summary of Amortization expense

Amortization expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three and nine months ended September 30, 2023 and 2022, respectively consisted of the following:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenues	$	1,775	$	1,856	$	5,335	$	3,269
Research and development		13		29		79		3,394
Selling, general and administrative		1,462		1,568		4,395		3,016
Total amortization expense	$	3,250	$	3,453	$	9,809	$	9,679

Schedule of Estimated Future Amortization Expense Related to Finite Intangible Assets

The following table outlines the estimated future amortization expense related to intangible assets held as of September 30, 2023:


2023 (for the remaining period)	$	3,456
2024		11,315
2025		9,379
2026		9,221
2027		8,249
Thereafter		26,484
Total	$	68,104

Net Loss Per Share - Summary of Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Stock Options And Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity shares	29,014,807	32,444,096

Goodwill and Intangible Assets, Net - Schedule of Estimated Future Amortization Expense Related to Finite Intangible Assets (Detail) $ in Thousands	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
2023 (for the remaining period)	$ 3,456
2024	11,315
2025	9,379
2026	9,221
2027	8,249
Thereafter	26,484
Total	$ 68,104

ASSETS HELD FOR SALE

9 Months Ended

Sep. 30, 2023

ASSETS HELD FOR SALE ABSTRACT

Assets Held For Sale

ASSETS HELD FOR SALE

In the first quarter of 2023, the Company updated its Electron recovery strategy by completing a marine recovery, which we believe will be a more effective and financially viable type of recovery. As a result, the Company has ceased mid-air rocket booster recovery and has begun the sale process of two helicopters. As of March 31, 2023, the Company’s two helicopters met the held for sale criteria and the Company ceased depreciating these assets.

As of September 30, 2023, the Company’s two helicopters continued to be assets held for sale of $11,259.

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 180,066	$ 137,903
Less accumulated depreciation and amortization	(44,078)	(36,389)
Property, plant and equipment, net	135,988	101,514
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	49,643	36,493
Machinery, Equipment, Vehicles And Office Furniture [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	57,100	54,300
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,940	7,517
Launch Site Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	13,515	12,822
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 49,868	$ 26,771

LEASE - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leased Assets [Line Items]
Operating Lease, Right-of-Use Asset	$ 44,900	$ 35,239
Vehicles and Equipment [Member] \| Minimum Member
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Remaining Lease Term	1 year
Vehicles and Equipment [Member] \| Maximum [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Remaining Lease Term	27 years
Virgin APA [Member]
Operating Leased Assets [Line Items]
Operating lease liability	$ 11,500
Operating Lease, Right-of-Use Asset	$ 13,939

GOODWILL AND INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2023

GOODWILL AND INTANGIBLE ASSETS, NET

11.

Goodwill and Intangible assets, NET

Goodwill

The carrying amount of goodwill for the Space Systems reportable segment was $71,020 as of September 30, 2023 and December 31, 2022.

Intangible Assets

The components of intangible assets consisted of the following as of September 30, 2023 and December 31, 2022:


	September 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Developed Technology	$	56,065	$	(14,939	)	$	41,126
Capitalized software		10,589		(6,631	)		3,958
Customer relationships		16,120		(2,897	)		13,223
Trademarks and tradenames		10,103		(1,581	)		8,522
Backlog		3,491		(2,991	)		500
Other		1,155		(380	)		775
Indefinite-Lived Intangible Assets
In-process Technology		2,300		—			2,300
Total	$	99,823	$	(29,419	)	$	70,404


	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Developed Technology	$	55,765	$	(9,809	)	$	45,956
Capitalized software		10,502		(5,023	)		5,479
Customer relationships		16,122		(1,866	)		14,256
Trademarks and tradenames		10,104		(947	)		9,157
Backlog		3,491		(1,866	)		1,625
Other		898		(279	)		619
Indefinite-Lived Intangible Assets
In-process Technology		2,600		—			2,600
Total	$	99,482	$	(19,790	)	$	79,692


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenues	$	1,775	$	1,856	$	5,335	$	3,269
Research and development		13		29		79		3,394
Selling, general and administrative		1,462		1,568		4,395		3,016
Total amortization expense	$	3,250	$	3,453	$	9,809	$	9,679

The following table outlines the estimated future amortization expense related to intangible assets held as of September 30, 2023:


2023 (for the remaining period)	$	3,456
2024		11,315
2025		9,379
2026		9,221
2027		8,249
Thereafter		26,484
Total	$	68,104

BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2023

SolAero Holdings, Inc [Member]

Restructuring Cost and Reserve [Line Items]

Estimates Fair Value of Assets Acquired and Liabilities Assumed

The following table presents estimates of the fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


Description	Amount
Cash and cash equivalents	$	7,815
Accounts receivable		12,322
Inventories		17,765
Prepaids and other current assets		3,536
Property, plant and equipment		24,689
Intangible assets		33,600
Right-of-use assets - operating leases (1)		1,128
Right-of-use assets - finance leases (1)		16,174
Restricted cash		3,293
Trade payables		(9,795	)
Accrued expenses		(6,883	)
Contract liabilities (2)		(26,014	)
Other current liabilities		(10,145	)
Non-current operating lease liabilities (1)		(1,128	)
Non-current finance lease liabilities (1)		(15,874	)
Other assets and liabilities, net		(204	)
Identifiable net assets acquired		50,279
Goodwill		25,902
Total purchase price	$	76,181

_________________________

(1) SolAero, as a private company, had not adopted ASC 842 prior to the acquisition. Upon acquisition, SolAero adopted ASC 842 to align accounting policies with the Company.

Summary of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets

The following is a summary of identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:


Type	Estimated Life in Years	Fair Value
Developed technology	13	$	10,700
In-process technology	N/A		800
Capitalized software	3		5,400
Customer relationships	12		9,000
Trademark and tradenames	12		4,700
Backlog	2		3,000
Total identifiable intangible assets acquired		$	33,600

Asset Purchase Agreement [Member]

Restructuring Cost and Reserve [Line Items]

Estimates Fair Value of Assets Acquired and Liabilities Assumed

The following table presents estimates of the relative fair value of the assets acquired and the liabilities assumed by the Company in the acquisition:


Description	Amount
Property, plant and equipment	$	15,658
Right-of-use assets - operating leases		13,939
Other non-current assets		189
Other current liabilities		(1,125	)
Non-current operating lease liabilities		(10,375	)
Other non-current liabilities		(1,352	)
Total purchase price	$	16,934

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INCOME TAXES

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

17.

INCOME TAXES

Income tax provision and the effective tax rate for the three and nine months ended September 30, 2023 and 2022 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Income tax provision	$	(1,352	)	$	(1,693	)	$	(2,639	)	$	(4,008	)
Effective tax rate		(3.4	)%		(5.1	)%		(2.0	)%		(4.2	)%

The tax provisions for the three and nine months ended September 30, 2023 and 2022 were computed using the estimated effective tax rates projected to be applicable for domestic and international taxable jurisdictions for the full year as adjusted for discrete items arising during each quarter.

The effective tax rate differs from the federal statutory rate due primarily to a full valuation allowance against our U.S. deferred tax assets, as well as the impact of discrete items that may occur in any given year but which are not consistent from year-to-year.

The Company is not currently under examination by the IRS, state and local, or foreign tax authorities. Due to its net operating loss carryforwards, the Company remains subject to examination for U.S. federal and state jurisdictions for all years beginning with the year ended March 31, 2016. The Company’s foreign subsidiaries are generally subject to examination within four years from the end of the tax year during which the tax return was filed.

As of September 30, 2023, the Company anticipates that $3,149 of uncertain tax positions will be settled within the next twelve months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

NET LOSS PER SHARE

18.

NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during each period.

The holder of each share of common stock has the right to one vote for each share and is entitled to notice of any stockholders’ meeting and to vote upon certain events.

Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common and dilutive common equivalent shares outstanding for the period using the treasury-stock method. Potentially dilutive shares are comprised of restricted stock units and stock options. For the three and nine months ended September 30, 2023 and 2022, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss and potentially dilutive shares being anti-dilutive.

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Numerator
Net loss attributable to common stockholders-basic and diluted	$	(40,568	)	$	(34,610	)	$	(132,074	)	$	(98,736	)
Denominator
Weighted average common shares outstanding-basic and diluted		484,034,071			469,768,797			480,018,578			463,709,955
Net loss per share attributable to common stockholders-basic and diluted	$	(0.08	)	$	(0.07	)	$	(0.28	)	$	(0.21	)

The following equity shares were excluded from the calculation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive:


	September 30,
	2023		2022
Stock options and restricted stock units		29,014,807		32,444,096

INVENTORIES

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

Inventories as of September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
Raw materials	$	47,534	$	33,376
Work in process		43,992		50,661
Finished goods		10,868		8,242
Total inventories	$	102,394	$	92,279

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business Combinations - Summary of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets (Detail) - SolAero Holdings, Inc [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Fair Value	$ 33,600
Developed Technology [Member]
Business Acquisition [Line Items]
Estimated Life in Years	13 years
Fair Value	$ 10,700
In-process Technology [Member]
Business Acquisition [Line Items]
Fair Value	$ 800
Capitalized Software [Member]
Business Acquisition [Line Items]
Estimated Life in Years	3 years
Fair Value	$ 5,400
Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated Life in Years	12 years
Fair Value	$ 9,000
Trademark and Tradenames [Member]
Business Acquisition [Line Items]
Estimated Life in Years	12 years
Fair Value	$ 4,700
Backlog [Member]
Business Acquisition [Line Items]
Estimated Life in Years	2 years
Fair Value	$ 3,000

Revenue - Reconciliation of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 67,661	$ 63,057	$ 184,601	$ 159,234
Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	30,226	31,312	94,558	96,656
Over-time
Disaggregation of Revenue [Line Items]
Revenues	$ 37,435	$ 31,745	$ 90,043	$ 62,578

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 40
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Expense And The Effective Tax Rate

Income tax provision and the effective tax rate for the three and nine months ended September 30, 2023 and 2022 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Income tax provision	$	(1,352	)	$	(1,693	)	$	(2,639	)	$	(4,008	)
Effective tax rate		(3.4	)%		(5.1	)%		(2.0	)%		(4.2	)%

Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 71,020		$ 71,020
Stock compensation expense	43,398	$ 43,312
Sinclair Interplanetary [Member]
Business Acquisition [Line Items]
Goodwill	25,902
SolAero Holdings, Inc [Member]
Business Acquisition [Line Items]
Cash consideration transferred	76,181
Goodwill	25,902
Payments to Acquire Businesses, Gross	3,600
Cash	80,000
Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Business Acquisition, Transaction Costs	815
Contingent consideration payable	$ 16,934

Business Combinations - Estimates Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Thousands

Sep. 30, 2023

Dec. 31, 2022

Business Acquisition [Line Items]

Prepaids and other current assets

$ 3,536

Other non-current assets

17,975

$ 7,303

Other non-current liabilities

3,638

3,005

Goodwill

71,020

$ 71,020

Sinclair Interplanetary [Member]

Business Acquisition [Line Items]

Goodwill

25,902

SolAero Holdings, Inc [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

7,815

Accounts receivable

12,322

Inventories

17,765

Property, plant and equipment

24,689

Intangible assets

33,600

Right-of-use assets - operating leases

^[1]

1,128

Right-of-use assets - finance leases

^[1]

16,174

3,293

(9,795)

(6,883)

^[2]

(26,014)

Other current liabilities

(10,145)

Non-current operating lease liabilities

^[1]

(1,128)

Non-current finance lease liabilities

^[1]

(15,874)

Other assets and liabilities, net

(204)

Identifiable net assets acquired

50,279

Goodwill

25,902

Total purchase price

76,181

Asset Purchase Agreement [Member]

Business Acquisition [Line Items]

Prepaids and other current assets

15,658

Right-of-use assets - operating leases

13,939

Other non-current assets

189

Other non-current liabilities

(1,352)

Other current liabilities

(1,125)

Non-current operating lease liabilities

(10,375)

Total purchase price

$ 16,934

[1]	) SolAero, as a private company, had not adopted ASC 842 prior to the acquisition. Upon acquisition, SolAero adopted ASC 842 to align accounting policies with the Company
[2]	(2) Contract liabilities was recorded under ASC 606 in accordance with ASU No. 2021-08; therefore a reduction in contract liabilities related to the estimated fair values of the acquired contract liabilities was not required.

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash And Cash Equivalents	$ 140,904	$ 242,515
Marketable securities, current	147,513	229,276
Accounts receivable, net	22,787	36,572
Contract assets	13,042	9,451
Inventories	102,394	92,279
Prepaids and other current assets	68,341	52,201
Assets held for sale	11,259	0
Total current assets	506,240	662,294
Non-current assets:
Property, plant and equipment, net	135,988	101,514
Intangible asset, net	70,404	79,692
Goodwill	71,020	71,020
Operating lease right-of-use asset	44,900	35,239
Right-of-use assets - finance leases	15,145	15,614
Marketable securities, non-current	81,951	9,193
Restricted cash	3,588	3,356
Deferred income tax assets, net	3,282	3,898
Other non-current assets	17,975	7,303
Total assets	950,493	989,123
Current liabilities:
Trade payables	24,980	12,084
Accrued expenses	5,998	8,723
Employee benefits payable	14,979	8,634
Contract liabilities	133,793	108,344
Current installments of long-term borrowings	105,116	2,906
Other current liabilities	18,885	22,249
Total current liabilities	303,751	162,940
Non-current liabilities:
Long-term borrowings, excluding current installments	0	100,043
Non-current operating lease liabilities	41,695	34,266
Non-current finance lease liabilities	15,299	15,568
Deferred tax liabilities	308	95
Other non-current liabilities	3,638	3,005
Total liabilities	364,691	315,917
COMMITMENTS AND CONTINGENCIES (Note 15)
Stockholders' equity
Common stock, value	49	48
Additional paid-in capital	1,161,165	1,112,977
Accumulated deficit	(573,029)	(440,955)
Accumulated other comprehensive income	(2,383)	1,136
Total Stockholders' equity	585,802	673,206
Total liabilities and stockholders' equity	$ 950,493	$ 989,123

SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summary of Information by Reportable Segment

The following table shows information by reportable segment for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,
	2023				2022
	Launch Services		Space Systems		Launch Services			Space Systems
Revenues	$	21,316	$	46,345	$	22,983		$	40,074
Cost of revenues		15,531		37,163		23,818			30,772
Gross profit (loss)	$	5,785	$	9,182	$	(835	)	$	9,302


	Nine Months Ended September 30,
	2023				2022
	Launch Services		Space Systems		Launch Services			Space Systems
Revenues	$	63,432	$	121,169	$	48,668		$	110,566
Cost of revenues		53,364		95,320		52,583			89,491
Gross profit (loss)	$	10,068	$	25,849	$	(3,915	)	$	21,075

PUBLIC AND PRIVATE WARRANTS

9 Months Ended

Sep. 30, 2023

PUBLIC AND PRIVATE WARRANTS

13.

PUBLIC AND PRIVATE WARRANTS

As part of the closing of the transactions contemplated by that certain Merger Agreement entered into with Vector Acquisition Corporation, dated March 1, 2021, as amended by Amendment No. 1 thereto, dated May 7, 2021 and Amendment No. 2 thereto, dated June 25, 2021 (the “Business Combination”), the Company assumed public warrants and private warrants to purchase up to 10,666,666 shares and 5,600,000 shares of common stock of the Company, respectively, which were exercisable at $11.50 per share.

Until settlement, public warrants could only be exercised for a whole number of shares. No fractional shares would be issued upon exercise of the public warrants. The public warrants became exercisable on September 29, 2021.

Warrant Redemption

On December 22, 2021, the Company announced the planned redemption of all of its public warrants and private warrants. On January 20, 2022, the Company extended the redemption date of its public warrants to January 31, 2022. In connection with the redemption, Public Warrants were to be exercised by holders prior to January 31, 2022 either (i) in cash, at an exercise price of $11.50 per share of the Company’s common stock or (ii) on a cashless basis, for 0.2843 shares of common stock per private warrant and public warrant.

During the nine months ended September 30, 2022, an aggregate of 10,383,077 public warrants were exercised on a cashless basis in exchange for the issuance of 2,951,781 shares and 10,969 public warrants were exercised for an aggregate of 10,969 shares of Company common stock at an exercise price of $11.50 per share, for aggregate cash proceeds to the Company of $126. At the conclusion of the redemption notice period on January 31, 2022, the remaining 270,470 public warrants issued and outstanding were redeemed at a price of $0.10 per warrant for aggregate cash payment from the Company of $27. On January 31, 2022, the public warrants were delisted from Nasdaq. In addition, during the nine months ended September 30, 2022, the 5,600,000 private warrants were exercised on a cashless basis for an aggregate of 1,592,080 shares of the Company’s common stock.

The public warrants and private warrants were remeasured to fair value as of the exercise or redemption date, resulting in a gain of $13,482 for nine months ended September 30, 2022.

Goodwill and Intangible Assets, Net - (Additional Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 71,020	$ 71,020

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
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-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Condensed Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Income [Member]
Balance at Beginning at Dec. 31, 2021	$ 698,448	$ 45	$ 1,002,106	$ (305,011)	$ 1,308
Balance at Beginning (in Shares) at Dec. 31, 2021		450,180,479
Net Income (Loss)	(26,709)			(26,709)
Issuance of common stock under equity plans, Shares		7,883,569
Issuance of common stock under equity plans	1,020	$ 1	1,019
Stock-based compensation	14,116		14,116
Common stock issued upon exercise of Public and Private Warrants	44,844		44,844
Common stock issued upon exercise of Public and Private Warrants (in Shares)		4,554,830
Issuance of common stock for acquisition, Shares		123,934
Common stock issued upon exercise of warrants (in Shares)		4,554,830
Other comprehensive loss	876				876
Balance Ending at Mar. 31, 2022	732,595	$ 46	1,062,085	(331,720)	2,184
Balance Ending (in Shares) at Mar. 31, 2022		462,742,812
Balance at Beginning at Dec. 31, 2021	698,448	$ 45	1,002,106	(305,011)	1,308
Balance at Beginning (in Shares) at Dec. 31, 2021		450,180,479
Net Income (Loss)	(98,736)
Common stocks issued in acquisition, at fair value	0
Balance Ending at Sep. 30, 2022	690,836	$ 47	1,098,892	(403,747)	(4,356)
Balance Ending (in Shares) at Sep. 30, 2022		472,746,850
Balance at Beginning at Mar. 31, 2022	732,595	$ 46	1,062,085	(331,720)	2,184
Balance at Beginning (in Shares) at Mar. 31, 2022		462,742,812
Net Income (Loss)	(37,417)			(37,417)
Issuance of common stock under equity plans, Shares		3,594,963
Issuance of common stock under equity plans	3,726	$ 1	3,725
Stock-based compensation	15,580		15,580
Issuance of common stock for acquisition, Shares		2,039,290
Other comprehensive loss	(1,030)				(1,030)
Balance Ending at Jun. 30, 2022	713,454	$ 47	1,081,390	(369,137)	1,154
Balance Ending (in Shares) at Jun. 30, 2022		468,377,065
Net Income (Loss)	(34,610)			(34,610)
Issuance of common stock under equity plans, Shares		4,245,851
Issuance of common stock under equity plans	666		666
Stock-based compensation	16,836		16,836
Issuance of common stock for acquisition, Shares		123,934
Other comprehensive loss	(5,510)				(5,510)
Balance Ending at Sep. 30, 2022	690,836	$ 47	1,098,892	(403,747)	(4,356)
Balance Ending (in Shares) at Sep. 30, 2022		472,746,850
Balance at Beginning at Dec. 31, 2022	673,206	$ 48	1,112,977	(440,955)	1,136
Balance at Beginning (in Shares) at Dec. 31, 2022		475,356,517
Net Income (Loss)	(45,617)			(45,617)
Issuance of common stock under equity plans, Shares		2,672,625
Issuance of common stock under equity plans	771		771
Stock-based compensation	12,228		12,228
Issuance of common stock for acquisition, Shares		123,933
Other comprehensive loss	(570)				(570)
Balance Ending at Mar. 31, 2023	640,018	$ 48	1,125,976	(486,572)	566
Balance Ending (in Shares) at Mar. 31, 2023		478,153,075
Balance at Beginning at Dec. 31, 2022	673,206	$ 48	1,112,977	(440,955)	1,136
Balance at Beginning (in Shares) at Dec. 31, 2022		475,356,517
Net Income (Loss)	(132,074)
Common stocks issued in acquisition, at fair value	2,087
Balance Ending at Sep. 30, 2023	585,802	$ 49	1,161,165	(573,029)	(2,383)
Balance Ending (in Shares) at Sep. 30, 2023		485,857,768
Balance at Beginning at Mar. 31, 2023	640,018	$ 48	1,125,976	(486,572)	566
Balance at Beginning (in Shares) at Mar. 31, 2023		478,153,075
Net Income (Loss)	(45,889)			(45,889)
Issuance of common stock under equity plans, Shares		4,326,466
Issuance of common stock under equity plans	3,561		3,561
Stock-based compensation	15,688		15,688
Issuance of common stock for acquisition, Shares		123,933
Other comprehensive loss	(2,330)				(2,330)
Balance Ending at Jun. 30, 2023	611,048	$ 48	1,145,225	(532,461)	(1,764)
Balance Ending (in Shares) at Jun. 30, 2023		482,603,474
Net Income (Loss)	(40,568)			(40,568)
Issuance of common stock under equity plans, Shares		2,816,037
Issuance of common stock under equity plans	486	$ 1	485
Stock-based compensation	13,368		13,368
Issuance of common stock for acquisition, Shares		438,257
Common stocks issued in acquisition, at fair value	2,087		2,087
Other comprehensive loss	(619)				(619)
Balance Ending at Sep. 30, 2023	$ 585,802	$ 49	$ 1,161,165	$ (573,029)	$ (2,383)
Balance Ending (in Shares) at Sep. 30, 2023		485,857,768

LOAN AGREEMENT

9 Months Ended

Sep. 30, 2023

LOAN AGREEMENT

12.

LOAN AGREEMENT

Hercules Capital Secured Term Loan

On June 10, 2021, the Company entered into a $100,000 secured term loan agreement with Hercules Capital, Inc. (the “Hercules Capital Secured Term Loan”) and borrowed the full amount under the secured term loan agreement. The term loan has a maturity date of June 1, 2024 and is secured by substantially all of the assets of the Company. Payments due for the term loan are interest-only until the maturity date with interest payable monthly in arrears. The outstanding principal bears (i) cash interest at the greater of (a) 8.15% or (b) 8.15% plus the prime rate minus 3.25% and (ii) payment-in-kind interest of 1.25% which is accrued and added to the outstanding principal balance. Prepayment of the outstanding principal is permitted under the loan agreement and subject to certain prepayment fees. In connection with the secured term loan, the Company paid an initial facility charge of $1,000 and the Company will be required to pay an end of term charge of $3,250 upon repayment of the loan. The secured term loan agreement contains customary representations, warranties, non-financial covenants, and events of default. The Company is in compliance with all debt covenants related to its long-term borrowings as of September 30, 2023. As of September 30, 2023, there was $105,116 outstanding under the Hercules Capital Secured Term Loan, which is classified as current in the Company’s condensed consolidated balance sheets. As of September 30, 2023, the Company had no availability under the Hercules Capital Secured Term Loan.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Property, Plant and Equipment, Net - Schedule of Depreciation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Total depreciation expense	$ 4,082	$ 4,247	$ 10,997	$ 11,504
Cost of revenues [Member]
Property, Plant and Equipment [Line Items]
Total depreciation expense	2,084	3,476	6,374	9,234
Research And Development [Member]
Property, Plant and Equipment [Line Items]
Total depreciation expense	1,166	615	3,010	1,396
Selling, general and administrative [Member]
Property, Plant and Equipment [Line Items]
Total depreciation expense	$ 832	$ 156	$ 1,613	$ 874

Business Combination - fair value of the assets acquired and the liabilities assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Property, plant and equipment	$ 3,536
Other non-current assets	17,975	$ 7,303
Other non-current liabilities	3,638	$ 3,005
Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Property, plant and equipment	15,658
Right-of-use assets - operating leases	13,939
Other non-current assets	189
Other current liabilities	(1,125)
Non-current operating lease liabilities	(10,375)
Other non-current liabilities	(1,352)
Total purchase price	$ 16,934

STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2023

STOCK-BASED COMPENSATION

14.

STOCK-BASED COMPENSATION

Equity Incentive Plans

The Company has a single active equity incentive plan, the Rocket Lab 2021 Stock Option and Incentive Plan (the “2021 Plan”), with the objective of attracting and retaining available employees and directors by providing stock-based and other performance-based compensation. The 2021 Plan provides for the grant of equity awards to officers, employees, directors and other key employees as well as service providers which include incentive stock options, non-qualified stock options, restricted stock awards, unrestricted stock awards, restricted stock units or any combination of the foregoing any of which may be performance based, as determined by the Company’s Compensation Committee. An aggregate of 59,875,000 shares were initially reserved for the issuance of awards under the 2021 Plan. The number of shares reserved for issuance under the 2021 Plan automatically increases each January 1, beginning on January 1, 2022, by 5% of the outstanding number of shares of common stock on the immediately preceding December 31, or such lesser amount as determined by the plan administrator. The Company was authorized to issue up to 99,589,400 shares of common stock as equity awards to participants under the 2021 Plan as of September 30, 2023. There were 83,279,855 shares of common stock available for grant as of September 30, 2023.

Prior to the Business Combination, the Company maintained the Rocket Lab 2013 Stock Option and Grant Plan (the “2013 Plan”). The 2013 Plan was terminated in connection with the consummation of the Business Combination, and accordingly, no shares are available for future issuance under the 2013 Plan following the closing of the Business Combination. The 2013 Plan will continue to govern outstanding awards granted thereunder.


	Three Months Ended September 30,				Nine Months Ended September 30,
Stock-based compensation	2023		2022		2023		2022
Cost of revenues	$	3,182	$	4,964	$	10,325	$	14,091
Research and development		6,219		5,309		17,893		16,685
Selling, general and administrative		4,697		4,212		15,180		12,536
Total stock-based compensation expense	$	14,098	$	14,485	$	43,398	$	43,312

Options

Options issued to all optionees under the 2013 Plan vest over four years from the date of issuance (or earlier vesting start date, as determined by the board of directors) as follows: 25% on the first anniversary of date of grant and the remaining vest monthly over the remaining vesting term. All options had vested as of September 30, 2023.

Restricted Stock Units

During the nine months ended September 30, 2023 and 2022, the Company granted 10,196,987 and 14,464,435 restricted stock units, respectively, to certain key employees pursuant to the 2013 Plan and 2021 Plan. The time-based service vesting condition is generally satisfied over periods of approximately four years as the employees provide service.

As of September 30, 2023, the total unrecognized compensation expense related to unvested performance-based restricted stock units granted under the 2013 Plan and 2021 Plan was $86,813 and will be recognized upon vesting.

2021 Employee Stock Purchase Plan

In August 2021, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”) was approved to reserve 9,980,000 shares of common stock for issuance for awards in accordance with the terms of the 2021 ESPP. In addition, the number of shares reserved for issuance will ultimately increase on January 1 of each year from 2022 to 2031 by the lesser of (i) 9,980,000 shares of common stock, (ii) 1% of the number of shares of common stock outstanding as of the close of business on the immediately preceding December 31 or (iii) the number of common stock shares as determined by the Company’s board of directors. The purpose of the 2021 ESPP is to enable eligible employees to use payroll deductions to purchase shares of common stock and thereby acquire an interest in the Company. Eligible employees are offered shares through a 12-month offering period, which consists of two consecutive 6-month purchase periods. Employees may purchase a limited amount of shares of our stock at a discount of up to 15% of the lesser of the fair market value at the beginning of the offering period or the end of each 6-month purchase period.

During the nine months ended September 30, 2023 and 2022, 681,018 shares and 527,380 shares of common stock were issued under the 2021 ESPP, respectively. As of September 30, 2023, 17,457,414 shares remain available for issuance under the 2021 ESPP. Total ESPP stock-based compensation recorded in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2023 was $423 and $1,819, respectively. Total ESPP stock-based compensation recorded in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2022 was $1,059 and $2,718, respectively. As of September 30, 2023, the total unrecognized compensation expense related to the 2021 ESPP was $345 and will be recognized over the remaining offering period.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2023

Subsequent Events

21.

SUBSEQUENT EVENTS

Disposition of Helicopter

On October 18, 2023, the Company sold one of the Company's held for sale helicopters to a purchaser unaffiliated with the Company, for $3,900 before closing costs. As of September 30, 2023, the carrying value of the helicopter was $2,687.

INCOME TAXES - Schedule Of Income Tax Expense And The Effective Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (1,352)	$ (1,693)	$ (2,639)	$ (4,008)
Effective tax rate	(3.40%)	5.10%	(2.00%)	(4.20%)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Prepaid and Other Current Assets - Schedule of Prepaid and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses	$ 46,957	$ 43,126
Government grant receivables	12,626	1,443
Customer financing receivables	3,733	0
Other current assets	5,025	7,632
Total prepaids and other current assets	$ 68,341	$ 52,201

Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Cash equivalents:
Marketable securities, current	$ 147,513	$ 229,276
Marketable securities, non-current	81,951	9,193
Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	3,862	4,768
Total	318,673	450,935
Other non-current liabilities:
Contingent consideration	851	1,800
Total	851	1,800
Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Marketable securities, current	0	0
Total	153,753	241,621
Other non-current liabilities:
Contingent consideration	0	0
Total	0	0
Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Marketable securities, current	3,862	4,768
Total	164,920	209,314
Other non-current liabilities:
Contingent consideration	0	0
Total	0	0
Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Marketable securities, current	0	0
Total	0	0
Other non-current liabilities:
Contingent consideration	851	1,800
Total	851	1,800
Money Market Funds [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	87,416	204,027
Money Market Funds [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Cash equivalents	87,416	204,027
Money Market Funds [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Cash equivalents	0	0
Money Market Funds [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Cash equivalents	0	0
Mortgage- and Asset-backed Securities [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	336
Marketable securities, non-current	15,472	7,962
Mortgage- and Asset-backed Securities [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Marketable securities, current	0
Marketable securities, non-current	0	0
Mortgage- and Asset-backed Securities [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Marketable securities, current	336
Marketable securities, non-current	15,472	7,962
Mortgage- and Asset-backed Securities [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Marketable securities, current	0
Marketable securities, non-current	0	0
Corporate Debt Securities [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		3,459
Marketable securities, current	51,180	62,316
Marketable securities, non-current	12,219	1,231
Corporate Debt Securities [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Cash equivalents		0
Marketable securities, current	0	0
Marketable securities, non-current	0	0
Corporate Debt Securities [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Cash equivalents		3,459
Marketable securities, current	51,180	62,316
Marketable securities, non-current	12,219	1,231
Corporate Debt Securities [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Cash equivalents		0
Marketable securities, current	0	0
Marketable securities, non-current	0	0
Certificates of Deposit [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	31,320	52,713
Certificates of Deposit [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Marketable securities, current	0	0
Certificates of Deposit [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Marketable securities, current	31,320	52,713
Certificates of Deposit [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Marketable securities, current	0	0
Commercial Paper [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	1,793	4,980
Marketable securities, current	48,738	71,885
Commercial Paper [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Cash equivalents	0	0
Marketable securities, current	0	0
Commercial Paper [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Cash equivalents	1,793	4,980
Marketable securities, current	48,738	71,885
Commercial Paper [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Cash equivalents	0	0
Marketable securities, current	0	0
U.S. Government Agency Bonds [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	2,997	30,086
U.S. Government Agency Bonds [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Marketable securities, current	2,997	30,086
U.S. Government Agency Bonds [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Marketable securities, current	0	0
U.S. Government Agency Bonds [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Marketable securities, current	0	0
US Treasury Securities [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	9,080
Marketable securities, current		7,508
Marketable securities, non-current	54,260
US Treasury Securities [Member] \| Fair Value, Recurring [Member] \| Level 1 [Member]
Cash equivalents:
Cash equivalents	9,080
Marketable securities, current		7,508
Marketable securities, non-current	54,260
US Treasury Securities [Member] \| Fair Value, Recurring [Member] \| Level 2 [Member]
Cash equivalents:
Cash equivalents	0
Marketable securities, current		0
Marketable securities, non-current	0
US Treasury Securities [Member] \| Fair Value, Recurring [Member] \| Level 3 [Member]
Cash equivalents:
Cash equivalents	0
Marketable securities, current		$ 0
Marketable securities, non-current	$ 0

PROPERTY, PLANT AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

10.

Property, plant and equipment, NET

Property, plant and equipment, net, as of September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023			December 31, 2022
Buildings and improvements	$	49,643		$	36,493
Machinery, equipment, vehicles and office furniture		57,100			54,300
Computer equipment, hardware and software		9,940			7,517
Launch site assets		13,515			12,822
Construction in process		49,868			26,771
Property, plant and equipment—gross		180,066			137,903
Less accumulated depreciation and amortization		(44,078	)		(36,389	)
Property, plant and equipment—net	$	135,988		$	101,514


	Three Months Ended September 30,				Nine Months Ended September 30,
Depreciation expense	2023		2022		2023		2022
Cost of revenues	$	2,084	$	3,476	$	6,374	$	9,234
Research and development		1,166		615		3,010		1,396
Selling, general and administrative		832		156		1,613		874
Total depreciation expense	$	4,082	$	4,247	$	10,997	$	11,504

COMMITMENTS AND CONTINGENCIES (Additional Information) (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Commitments And Contingencies LineItems
Provision for contract loss	$ 4,066
Other Current Liabilities Member
Commitments And Contingencies LineItems
Provision for contract loss	$ 8,673

SEGMENTS - Additional Information (Detail)	9 Months Ended
SEGMENTS - Additional Information (Detail)	Sep. 30, 2023 Segments
Segment Reporting Information [Line Items]
Number of operating segments	2

Net Loss Per Share - Summary of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss attributable to common stockholders-basic and diluted	$ (40,568)	$ (45,889)	$ (45,617)	$ (34,610)	$ (37,417)	$ (26,709)	$ (132,074)	$ (98,736)
Weighted average common shares outstanding-basic	484,034,071			469,768,797			480,018,578	463,709,955
Weighted average common shares outstanding, diluted	484,034,071			469,768,797			480,018,578	463,709,955
Net loss per share attributable to Rocket Lab USA, Inc-Basic	$ (0.08)			$ (0.07)			$ (0.28)	$ (0.21)
Net loss per share attributable to Rocket Lab USA, Inc-Diluted	$ (0.08)			$ (0.07)			$ (0.28)	$ (0.21)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Topic 250
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-Name Accounting Standards Codification
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-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

SEGMENTS

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segments

19.

SEGMENTS

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments. The Company manages its business primarily based upon two operating segments, Launch Services and Space Systems. Each of these operating segments represents a reportable segment. Launch Services provides launch and launch related services to customers on a dedicated mission or ride share basis. Space Systems is comprised of spacecraft engineering and design services, spacecraft components, spacecraft manufacturing and on-orbit mission operations. Although many of the Company’s contracts with customers contain elements of Space Systems and Launch Services, each reporting segment is managed separately to better align with customer’s needs and the Company’s growth plans. The chief operating decision maker evaluates the performance of its reportable segments based on gross profit. For contracts with customers that contain both Space Systems and Launch Services elements, revenues for each reporting segment are generally allocated based upon the overall costs incurred for each of the reporting segments in comparison to total overall costs of the contract. The following table shows information by reportable segment for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,
	2023				2022
	Launch Services		Space Systems		Launch Services			Space Systems
Revenues	$	21,316	$	46,345	$	22,983		$	40,074
Cost of revenues		15,531		37,163		23,818			30,772
Gross profit (loss)	$	5,785	$	9,182	$	(835	)	$	9,302


	Nine Months Ended September 30,
	2023				2022
	Launch Services		Space Systems		Launch Services			Space Systems
Revenues	$	63,432	$	121,169	$	48,668		$	110,566
Cost of revenues		53,364		95,320		52,583			89,491
Gross profit (loss)	$	10,068	$	25,849	$	(3,915	)	$	21,075

Management does not regularly review either reporting segment’s total assets or operating expenses. This is because in general, the Company’s long-lived assets, facilities, and equipment are shared by each reporting segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (f)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Revenue - Changes in Contract Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Disaggregation of Revenue [Abstract]
Contract liabilities, beginning of year	$ 134,574	$ 108,344
Customer advances received or billed	40,128	108,711
Recognition of unearned revenue	(40,909)	(83,262)
Contract liabilities, end of year	$ 133,793	$ 133,793

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	20. RELATED PARTY TRANSACTIONS As of September 30, 2023 and December 31, 2022, there are no amounts due to or from related parties.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Cash and Cash Equivalents and Marketable Securities - Schedule of Cash Equivalents and Marketable Securities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Marketable Securities [Line Items]
Amortized Cost	$ 319,774
Gross Unrealized Gains	21
Gross Unrealized Losses	(1,122)
Fair Value	318,673
Cash Equivalents	89,209
Marketable Securities	229,464
Corporate Debt Securities [Member]
Marketable Securities [Line Items]
Amortized Cost	63,567
Gross Unrealized Gains	13
Gross Unrealized Losses	(181)
Fair Value	63,399
Cash Equivalents	0
Marketable Securities	63,399
Mortgage- and Asset-backed Securities [Member]
Marketable Securities [Line Items]
Amortized Cost	15,840
Gross Unrealized Gains	2
Gross Unrealized Losses	(34)
Fair Value	15,808
Cash Equivalents	0
Marketable Securities	15,808
U.S. Government Agency Bonds [Member]
Marketable Securities [Line Items]
Amortized Cost	3,000
Gross Unrealized Gains	0
Gross Unrealized Losses	(3)
Fair Value	2,997
Cash Equivalents	0
Marketable Securities	2,997
U.S. Treasury Securities [Member]
Marketable Securities [Line Items]
Amortized Cost	64,204
Gross Unrealized Gains	1
Gross Unrealized Losses	(865)
Fair Value	63,340
Cash Equivalents	0
Marketable Securities	63,340
Yankee Bonds [Member]
Marketable Securities [Line Items]
Amortized Cost	3,865
Gross Unrealized Gains	0
Gross Unrealized Losses	(3)
Fair Value	3,862
Cash Equivalents	0
Marketable Securities	3,862
Commercial Paper [Member]
Marketable Securities [Line Items]
Amortized Cost	50,550
Gross Unrealized Gains	1
Gross Unrealized Losses	(20)
Fair Value	50,531
Cash Equivalents	0
Marketable Securities	48,738
Certificates Of Deposit [Member]
Marketable Securities [Line Items]
Amortized Cost	31,332
Gross Unrealized Gains	4
Gross Unrealized Losses	(16)
Fair Value	31,320
Cash Equivalents	0
Marketable Securities	31,320
Money market accounts [Member]
Marketable Securities [Line Items]
Amortized Cost	87,416
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	87,416
Cash Equivalents	87,416
Marketable Securities	$ 0

PREPAIDS AND OTHER CURRENT ASSETS (Tables)

9 Months Ended

Sep. 30, 2023

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepaids and Other Current Assets

Prepaids and other current assets as of September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
Prepaid expenses and deposits	$	46,957	$	43,126
Government grant receivables		12,626		1,443
Customer financing receivables		3,733		—
Other current assets		5,025		7,632
Total prepaids and other current assets	$	68,341	$	52,201

Assets Held for Sale (Additional Information) (Details) $ in Thousands	Sep. 30, 2023 USD ($)
ASSETS HELD FOR SALE ABSTRACT
Assets held for sale	$ 11,259

Cash and Cash Equivalents and Marketable Securities - Summary of Cash Equivalents and Marketable Securities with Unrealized Losses (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	$ 184,790
Unrealized Losses, in loss position for less than 12 months	(1,083)
Fair value, in loss position for greater than 12 months	5,907
Unrealized loss,in loss position for greater than 12 months	(39)
Fair value	190,697
Unrealized loss	(1,122)
Certificates Of Deposit [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	19,117
Unrealized Losses, in loss position for less than 12 months	(16)
Fair value, in loss position for greater than 12 months	0
Unrealized loss,in loss position for greater than 12 months	0
Fair value	19,117
Unrealized loss	(16)
Commercial Paper [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	42,321
Unrealized Losses, in loss position for less than 12 months	(20)
Fair value, in loss position for greater than 12 months	0
Unrealized loss,in loss position for greater than 12 months	0
Fair value	42,321
Unrealized loss	(20)
Corporate Debt Securities [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	51,346
Unrealized Losses, in loss position for less than 12 months	(161)
Fair value, in loss position for greater than 12 months	1,230
Unrealized loss,in loss position for greater than 12 months	(20)
Fair value	52,576
Unrealized loss	(181)
Yankee Bonds [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	2,633
Unrealized Losses, in loss position for less than 12 months	(2)
Fair value, in loss position for greater than 12 months	1,229
Unrealized loss,in loss position for greater than 12 months	(1)
Fair value	3,862
Unrealized loss	(3)
U.S. Government Agency Bonds [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	2,997
Unrealized Losses, in loss position for less than 12 months	(3)
Fair value, in loss position for greater than 12 months	0
Unrealized loss,in loss position for greater than 12 months	0
Fair value	2,997
Unrealized loss	(3)
Asset-Backed Securities [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	9,522
Unrealized Losses, in loss position for less than 12 months	(16)
Fair value, in loss position for greater than 12 months	3,448
Unrealized loss,in loss position for greater than 12 months	(18)
Fair value	12,970
Unrealized loss	(34)
U.S. Treasury Securities [Member]
Marketable Securities [Line Items]
Fair value, in loss position for less than 12 months	56,854
Unrealized Losses, in loss position for less than 12 months	(865)
Fair value, in loss position for greater than 12 months	0
Unrealized loss,in loss position for greater than 12 months	0
Fair value	56,854
Unrealized loss	$ (865)

INCOME TAXES (Additional Information) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
Uncertain Tax Positions	$ 3,149

SEGMENTS - Summary of Information by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Sales Information [Line Items]
Cost of revenues	$ 52,694	$ 54,590	$ 148,684	$ 142,074
Gross profit (loss)	14,967	8,467	35,917	17,160
Launch Services [Member]
Sales Information [Line Items]
Revenues	21,316	22,983	63,432	48,668
Cost of revenues	15,531	23,818	53,364	52,583
Gross profit (loss)	5,785	(835)	10,068	(3,915)
Space Systems [Member]
Sales Information [Line Items]
Revenues	46,345	40,074	121,169	110,566
Cost of revenues	37,163	30,772	95,320	89,491
Gross profit (loss)	$ 9,182	$ 9,302	$ 25,849	$ 21,075

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Revenue - Balances Related to Enforceable Contracts (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Abstract]
Accounts receivable,net	$ 22,787		$ 36,572
Contract assets	13,042		9,451
Contract liabilities	$ (133,793)	$ (134,574)	$ (108,344)

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

16.

COMMITMENTS AND CONTINGENCIES

Litigation and Claims

The Company is, and from time to time may be, a party to claims and legal proceedings generally incidental to its business that are principally covered under contracts with its customers and insurance policies. In the opinion of management, there are no legal matters or claims likely to have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Other Commitments

The Company has commitments under its lease obligations (see Note 15).

Contingencies

The Company records a contingent liability when it is both probable that a loss has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s condensed consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions.

On May 23, 2016, the Company entered into a launch services agreement with a customer to provide three commercial dedicated launches which would deliver the customer’s payloads over the period of 2017 through 2020. Per the terms of the agreement, each dedicated launch shall have a firm fixed price below current launch vehicle costs. During the year ended December 31, 2018, the Company determined that it was probable that the costs to provide the services as stipulated by the launch services agreement would exceed the fixed firm price of each launch. As such, the Company recorded a provision for contract loss for these three dedicated launches. During the year ended December 31, 2020, one of the three launches occurred. On April 21, 2021, the launch services agreement was amended, resulting in one additional launch and the potential for price increases on the second and third launches dependent on the customer’s desired payload configuration. On March 29, 2023 and April 29, 2023, the launch services agreement was amended, to change the date by which the launch window election is to occur from March 31, 2023 to on or before May 31, 2023. In June 2023, the launch services agreement was terminated and as a result, the Company released a $4,066 provision for contract losses.

In connection with the SolAero acquisition, the Company assumed a contract with a customer to provide solar panel module at a fixed price. The Company determined that it was probable that the costs to complete the solar panel modules as stipulated by the contract would exceed the fixed firm price of the solar panel modules. The provision for contract losses outstanding as of September 30, 2023, which primarily is related to the solar panel module agreement, was $8,673 included in other current liabilities in the Company’s condensed consolidated balance sheets.

Revenue - Summary of Concentration of Credit Risk and Significant Customers (Details) - Customer Concentration Risk [Member]	9 Months Ended
	Sep. 30, 2023
Revenue Benchmark [Member] \| Northrop Grumman Corporation [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	13.00%
Revenue Benchmark [Member] \| Capella Space Corp. [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	12.00%
Accounts Receivable [Member] \| Dynetics, Inc. [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	19.00%
Accounts Receivable [Member] \| National Aeronautics and Space Administration [Member]
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	13.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues	$ 67,661	$ 63,057	$ 184,601	$ 159,234
Cost of revenues	52,694	54,590	148,684	142,074
Gross profit	14,967	8,467	35,917	17,160
Operating expenses:
Research and development, net	26,626	17,508	81,566	50,150
Selling, general and administrative	27,200	22,961	84,386	64,991
Total operating expenses	53,826	40,469	165,952	115,141
Operating loss	(38,859)	(32,002)	(130,035)	(97,981)
Other income (expense):
Interest income (expense), net	(1,413)	(1,486)	(2,843)	(6,907)
Loss on foreign exchange	(120)	(51)	(76)	(3,947)
Change in fair value of liability classified warrants	0	0	0	13,482
Other income, net	1,176	622	3,519	625
Total other (expense) income, net	(357)	(915)	600	3,253
Loss before income taxes	(39,216)	(32,917)	(129,435)	(94,728)
Provision for income taxes	(1,352)	(1,693)	(2,639)	(4,008)
Net loss	(40,568)	(34,610)	(132,074)	(98,736)
Other comprehensive loss, net of tax:
Foreign currency translation loss	(736)	(4,655)	(3,190)	(4,809)
Unrealized gain (loss) on available-for-sale marketable securities	117	(855)	(329)	(855)
Comprehensive loss	$ (41,187)	$ (40,120)	$ (135,593)	$ (104,400)
Net loss per share attributable to Rocket Lab USA, Inc.:
Net loss per share attributable to Rocket Lab USA, Inc-Basic	$ (0.08)	$ (0.07)	$ (0.28)	$ (0.21)
Net loss per share attributable to Rocket Lab USA, Inc-Diluted	$ (0.08)	$ (0.07)	$ (0.28)	$ (0.21)
Weighted-average common shares outstanding:
Weighted average common shares outstanding-basic	484,034,071	469,768,797	480,018,578	463,709,955
Weighted average common shares outstanding, diluted	484,034,071	469,768,797	480,018,578	463,709,955

NET LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Summary of Basic and Diluted net Loss Per Share Attributable to Common Stockholders


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Numerator
Net loss attributable to common stockholders-basic and diluted	$	(40,568	)	$	(34,610	)	$	(132,074	)	$	(98,736	)
Denominator
Weighted average common shares outstanding-basic and diluted		484,034,071			469,768,797			480,018,578			463,709,955
Net loss per share attributable to common stockholders-basic and diluted	$	(0.08	)	$	(0.07	)	$	(0.28	)	$	(0.21	)

Summary of Diluted Net Loss Per Share Attributable to Common Stockholders

The following equity shares were excluded from the calculation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive:


	September 30,
	2023		2022
Stock options and restricted stock units		29,014,807		32,444,096

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Related Party Transactions (Details) [Line Items]
Related Party Transaction, Due from (to) Related Party	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS


	September 30, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market accounts	$	87,416	$	—	$	—	$	87,416
Commercial paper		—		1,793		—		1,793
Marketable securities, current:
Certificates of deposit		—		31,320		—		31,320
Commercial paper		—		48,738		—		48,738
Corporate debt securities		—		51,180		—		51,180
Yankee bonds		—		3,862		—		3,862
U.S. Treasury securities		9,080		—		—		9,080
U.S. government agency bonds		2,997		—		—		2,997
Mortgage- and asset-backed securities		—		336		—		336
Marketable securities, non-current
Corporate debt securities		—		12,219		—		12,219
U.S. Treasury securities		54,260		—		—		54,260
Mortgage- and asset-backed securities		—		15,472		—		15,472
Total	$	153,753	$	164,920	$	—	$	318,673
Liabilities:
Other non-current liabilities:
Contingent consideration	$	—	$	—	$	851	$	851
Total	$	—	$	—	$	851	$	851


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market accounts	$	204,027	$	—	$	—	$	204,027
Commercial paper		—		4,980		—		4,980
Corporate debt securities		—		3,459		—		3,459
Marketable securities, current:
Certificates of deposit		—		52,713		—		52,713
Commercial paper		—		71,885		—		71,885
Corporate debt securities		—		62,316		—		62,316
Yankee bonds		—		4,768		—		4,768
U.S. Treasury securities		7,508		—		—		7,508
U.S. government agency bonds		30,086		—		—		30,086
Marketable securities, non-current
Corporate debt securities		—		1,231		—		1,231
Mortgage- and asset-backed securities		—		7,962		—		7,962
Total	$	241,621	$	209,314	$	—	$	450,935
Liabilities:
Other non-current liabilities:
Contingent consideration	$	—	$	—	$	1,800	$	1,800
Total	$	—	$	—	$	1,800	$	1,800

The estimated fair value amounts shown above are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company’s intent or ability to dispose of the financial instrument.

There were no transfers between fair value measurement levels during the nine months ended September 30, 2023.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories as of September 30, 2023 and December 31, 2022 consisted of the following:


	September 30, 2023		December 31, 2022
Raw materials	$	47,534	$	33,376
Work in process		43,992		50,661
Finished goods		10,868		8,242
Total inventories	$	102,394	$	92,279

Goodwill and Intangible Assets, Net - Components of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill [Line Items]
Gross Carrying Amount	$ 99,823	$ 99,482
Accumulated Amortization	(29,419)	(19,790)
Net Carrying Amount	70,404	79,692
In Process Research and Development [Member]
Goodwill [Line Items]
Gross Carrying Amount	2,300	2,600
Accumulated Amortization	0	0
Net Carrying Amount	2,300	2,600
Developed Technology [Member]
Goodwill [Line Items]
Gross Carrying Amount	56,065	55,765
Accumulated Amortization	(14,939)	(9,809)
Net Carrying Amount	41,126	45,956
Capitalized Software [Member]
Goodwill [Line Items]
Gross Carrying Amount	10,589	10,502
Accumulated Amortization	(6,631)	(5,023)
Net Carrying Amount	3,958	5,479
Customer Relationships [Member]
Goodwill [Line Items]
Gross Carrying Amount	16,120	16,122
Accumulated Amortization	(2,897)	(1,866)
Net Carrying Amount	13,223	14,256
Trademark and Tradenames [Member]
Goodwill [Line Items]
Gross Carrying Amount	10,103	10,104
Accumulated Amortization	(1,581)	(947)
Net Carrying Amount	8,522	9,157
Backlog [Member]
Goodwill [Line Items]
Gross Carrying Amount	3,491	3,491
Accumulated Amortization	(2,991)	(1,866)
Net Carrying Amount	500	1,625
Other [Member]
Goodwill [Line Items]
Gross Carrying Amount	1,155	898
Accumulated Amortization	(380)	(279)
Net Carrying Amount	$ 775	$ 619

LOAN AGREEMENT - Additional Information (Detail) - USD ($)		9 Months Ended
	Jun. 10, 2021	Sep. 30, 2023	Dec. 31, 2022
Shares Issued And Outstanding [Line Items]
Loan and security agreement, maximum amount	$ 100,000
Term loan facility, initial facility charge		$ 1,000
Term loan facility, end of term charge upon repayment of the loan		3,250
Long-term borrowings, excluding current installments		$ 0	$ 100,043,000
Term Loan Facility [Member]
Shares Issued And Outstanding [Line Items]
Loan agreement maturity date	Jun. 01, 2024
Description Of Outstanding Principal Of Term Loan Facility		The outstanding principal bears (i) cash interest at the greater of (a) 8.15% or (b) 8.15% plus the prime rate minus 3.25% and (ii) payment-in-kind interest of 1.25% which is accrued and added to the outstanding principal balance.
Long-term borrowings, excluding current installments		$ 105,116

Cash and Cash Equivalents and Marketable Securities - Summary of Cash and Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash And Cash Equivalents	$ 140,904	$ 242,515
Marketable securities, current	147,513	229,276
Marketable securities, non-current	81,951	9,193
Cash And Cash Equivalents And Marketable Securities [Member]
Cash and Cash Equivalents [Line Items]
Cash And Cash Equivalents	140,904	242,515
Marketable securities, current	147,513	229,276
Marketable securities, non-current	81,951	9,193
Total Cash And Cash Equivalents And Marketable Securities	$ 370,368	$ 480,984