0000950170-24-022160 | 10-K | XBRL Viewer

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Cash and Cash Equivalents and Marketable Securities - Summary of Cash and Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 162,518	$ 242,515
Marketable securities, current	82,255	229,276
Marketable securities, non-current	79,247	9,193
Cash and cash equivalents and marketable securities [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	162,518	242,515
Marketable securities, current	82,255	229,276
Marketable securities, non-current	79,247	9,193
Total cash and cash equivalents and marketable securities	$ 324,020	$ 480,984

SEGMENTS

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENTS

20.

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 accounting policies of the various segments are the same as those described in Note 2. 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 years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023				2022					2021
	Launch Services		Space Systems		Launch Services			Space Systems		Launch Services			Space Systems
Revenues	$	71,894	$	172,698	$	60,686		$	150,310	$	38,971		$	23,266
Cost of revenues		63,827		129,356		67,640			124,366		53,827			10,303
Gross profit (loss)	$	8,067	$	43,342	$	(6,954	)	$	25,944	$	(14,856	)	$	12,963

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.

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+ Details

REVENUES

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUES

The Company disaggregates revenue by reportable segment and revenue recognition pattern, as it believes these categories best depicts how the nature, timing and uncertainty of revenue and cash flows are affected by economic factors. The following tables provide information about disaggregated revenue and a reconciliation of the disaggregated revenue during the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31, 2023
	Launch		Space
	Services		Systems		Total
Revenues by recognition model
Point-in-time	$	71,131	$	46,704	$	117,835
Over-time		763		125,994		126,757
Total revenue by recognition model	$	71,894	$	172,698	$	244,592

	Year Ended December 31, 2022
	Launch		Space
	Services		Systems		Total
Revenues by recognition model
Point-in-time	$	60,200	$	61,141	$	121,341
Over-time		485		89,170		89,655
Total revenue by recognition model	$	60,685	$	150,311	$	210,996

	Year Ended December 31, 2021
	Launch		Space
	Services		Systems		Total
Revenues by recognition model
Point-in-time	$	36,576	$	12,578	$	49,154
Over-time		2,395		10,688		13,083
Total revenue by recognition model	$	38,971	$	23,266	$	62,237

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 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 consolidated balance sheets at the end of each reporting period.

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


	December 31,
	2023			2022
Contract balances
Accounts receivable, net	$	35,176		$	36,572
Contract assets		12,951			9,451
Contract liabilities		(139,338	)		(108,344	)

Changes in contract liabilities were as follows:


	2023			2022			2021
Contract liabilities, beginning of year	$	108,344		$	59,749		$	26,132
Contract liabilities assumed at acquisition		—			26,014			5,560
Customer advances received or billed		137,158			96,206			41,614
Recognition of unearned revenue		(106,164	)		(73,625	)		(13,557	)
Contract liabilities, end of year	$	139,338		$	108,344		$	59,749

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 years ended December 31, 2023, 2022 and 2021 was not material.

Backlog

The Company’s backlog represents the estimated transaction prices on performance obligations to the Company’s customers for which work remains to be performed. 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 $1,046,126 as of December 31, 2023, of which approximately 41% is expected to be recognized within 12 months, with the remaining 59% to be recognized beyond 12 months.

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 December 31, 2023, the Company had $3,733 customer financing in prepaid and other currents assets and $13,533 customer financing receivable in other non-current assets on the condensed consolidated balance sheets. Customer financing interest income for the year ended December 31, 2023 was $371.

- 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.

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+ Details

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Estimates Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Business Acquisition [Line Items]

Property, plant and equipment

$ 0

$ 219

Goodwill

71,020

$ 43,308

Advanced Solutions Inc [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

2,245

Accounts receivable

1,920

Intangible assets, net

15,900

Employee benefits payable

(1,310)

Other assets and liabilities, net

Identifiable net assets acquired

18,776

Goodwill

16,659

Total purchase price

35,435

Planetary Systems Corporation [Member]

Business Acquisition [Line Items]

Cash and cash equivalents

3,655

Accounts receivable

2,543

Inventories

7,088

Intangible assets, net

33,000

Employee benefits payable

(1,212)

Contract liabilities

^[1]

(5,218)

Other current liabilities

(313)

Non-current deferred tax liabilities

(8,219)

Other assets and liabilities, net

935

Identifiable net assets acquired

32,259

Goodwill

25,261

$ 25,261

Total purchase price

57,520

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

3,536

Property, plant and equipment

24,689

Intangible assets, net

33,600

Right-of-use assets - operating leases

^[2]

1,128

Right-of-use assets - finance leases

^[2]

16,174

3,293

(9,795)

(6,883)

^[3]

(26,014)

Other current liabilities

(10,145)

Non-current operating lease liabilities

^[2]

(1,128)

Non-current finance lease liabilities

^[2]

(15,874)

Other assets and liabilities, net

(204)

Identifiable net assets acquired

50,279

Goodwill

25,902

Total purchase price

$ 76,181

[1]	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.
[2]	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.
[3]	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.

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2023	Feb. 22, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Entity Registrant Name	ROCKET LAB USA, INC.
Entity Central Index Key	0001819994
Entity File Number	001-39560
Entity Incorporation, State or Country Code	DE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,761.1
Entity Common Stock, Shares Outstanding		489,140,411
Entity Address, State or Province	CA
Document Annual Report	true
Document Transition Report	false
Entity Tax Identification Number	98-1550340
Entity Address, Address Line One	3881 McGowen Street
Entity Address, City or Town	Long Beach
Entity Address, Postal Zip Code	90808
City Area Code	714
Local Phone Number	465-5737
Document Financial Statement Error Correction [Flag]	false
Documents Incorporated by Reference	Information required by Part III of this Form 10-K is incorporated by reference to the registrant’s proxy statement or the Proxy Statement, for the 2024 annual meeting of stockholders, which proxy statement will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year covered by this Form 10-K.
Auditor Name	Deloitte & Touche LLP
Auditor Location	Los Angeles, California
Auditor Firm ID	34
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

Employee Benefits - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Defined contribution plan, employer discretionary contribution amount	$ 2,427	$ 1,520	$ 441

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The following table presents the changes in the carrying amount of goodwill for the Space Systems reportable segment for the years ended December 31, 2023 and 2022:


Balance at December 31, 2021	$	43,308
Acquisition		25,902
Measurement period adjustment		1,810
Balance at December 31, 2022		71,020
Balance at December 31, 2023	$	71,020

Components of Intangible Assets

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


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Developed Technology	$	56,065	$	(16,649	)	$	39,416
Capitalized software		11,690		(7,454	)		4,236
Customer relationships		16,135		(3,234	)		12,901
Trademarks and tradenames		10,106		(1,789	)		8,317
Backlog		3,491		(3,366	)		125
Other		1,222		(423	)		799
Indefinite-Lived Intangible Assets
In-process Technology		2,300		—			2,300
Total	$	101,009	$	(32,915	)	$	68,094


	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 consolidated statements of operations and comprehensive loss during the years ended December 31, 2023, 2022 and 2021, respectively consisted of the following:


	Years Ended December 31,
	2023		2022		2021
Cost of revenues	$	7,106	$	5,144	$	559
Research and development		90		3,449		2,088
Selling, general and administrative		5,904		4,634		674
Total amortization expense	$	13,100	$	13,227	$	3,321

Schedule of Estimated Future Amortization Expense Related to Finite Intangible Assets

The following table outlines the estimated future amortization expense related to finite-lived intangible assets held as of December 31, 2023:


2024	$	12,323
2025		9,447
2026		9,256
2027		8,278
2028		7,322
Thereafter		19,168
Total	$	65,794

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Additional Information (Detail) - USD ($) $ in Thousands			12 Months Ended
	Jul. 13, 2023	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 04, 2022
Business Acquisition [Line Items]
Goodwill			$ 71,020	$ 71,020	$ 43,308
Right to repurchase the shares upon termination of employment					30,358
Cash					310,330
Stock-based compensation expense			53,461	55,649	32,557
Business Acquisition, Transaction Costs					49,075
Issuance of common stock in connection with acquisition, at fair value			$ 2,087	$ 0	$ 11,568
Common Stock [Member]
Business Acquisition [Line Items]
Issuance of stock for acquisition (in Shares)			686,123	2,411,092	853,306
Advanced Solutions Inc [Member]
Business Acquisition [Line Items]
Cash consideration transferred			$ 29,935
Goodwill			16,659
Payments to acquire businesses, gross			12,015
Contingent consideration			5,500			$ 5,500
Recognized performance reserve payments			5,457	$ 7,579	$ 1,895
Additional potential earn out payment			5,500
Planetary Systems Corporation [Member]
Business Acquisition [Line Items]
Cash consideration transferred			43,152
Goodwill			$ 25,261	25,261
Common stock shares issued to seller upon closing of acquisition			1,720,841
Business acquisition contingent earnout period			2 years
Shares consideration transferred			729,375
Holdback Payable			$ 1,000
Additional potential earn out payment, Common shares			956,023
Contingent consideration			$ 1,056
Contingent consideration payable		$ 1,800
Cash		$ 42,000
Stock consideration			11,568
Stock-based compensation expense			$ 6,433	8,577	715
Issuance of common stock in connection with acquisition, at fair value	$ 2,087
Issuance of stock for acquisition (in Shares)	314,324
Planetary Systems Corporation [Member] \| PSC Employees [Member]
Business Acquisition [Line Items]
Common stock shares issued to seller upon closing of acquisition			991,466
Planetary Systems Corporation [Member] \| Common Stock [Member]
Business Acquisition [Line Items]
Common stock shares		1,720,841
Planetary Systems Corporation [Member] \| Performance Based Earnout [Member]
Business Acquisition [Line Items]
Common stock shares		956,023
SolAero Holdings, Inc [Member]
Business Acquisition [Line Items]
Cash consideration transferred			$ 76,181
Goodwill			25,902
Other Current Liabilities And Goodwill				9,446
Revenue related to acquisition				81,188	6,617
Net loss related to acquisition				12,533	$ 3,877
Acquisition and integration related costs				$ 427
Payments to acquire businesses, gross			3,600
Cash			80,000
Asset Purchase Agreement [Member]
Business Acquisition [Line Items]
Contingent consideration			16,934
Business Acquisition, Transaction Costs			$ 815

Stock-based Compensation - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Aug. 25, 2021	Aug. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 359
Allocated share based compensation	$ 9,642		$ 53,461	$ 55,649	$ 32,557
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common Stock, Shares Held in Employee Trust, Shares	2,989,088
APIC, Share-based Payment Arrangement, ESPP, Increase for Cost Recognition	$ 30,000
Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation			$ 2,399	$ 3,693	338
Share-based compensation arrangement by share-based payment award, plan modification shares	498,177
Share-based compensation arrangement by share-based payment award	558,769
Stock redeemed or called during period, value	$ 10,000
Common stock for issuance for awards		9,980,000		9,980,000
Common Stock Outstanding Rate		1.00%
Employee Stock Options Discount Rate		15.00%
Stock issued under employee stock purchase plans		9,980,000		9,980,000
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
Stock-based compensation					$ 26,987
2021 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale of aggregate, shares			59,875,000
Outstanding number of shares of common stock				5.00%
Shares available for grant			82,961,729
Shares authorized to issue under equity award plan			97,957,602
Unrecognized stock compensation expense			$ 1,774
Common stock for issuance for awards			1,369,604	1,106,958
Stock issued under employee stock purchase plans			1,369,604	1,106,958
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%
2013 Plan And 2021 Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Granted			11,269,200	14,455,901	6,542,426
Unrecognized compensation expense			$ 77,361
2021 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale of aggregate, shares			16,768,828

Cash and Cash Equivalents and Marketable Securities - Schedule of Cash Equivalents and Marketable Securities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Marketable Securities [Line Items]
Amortized Cost	$ 283,270
Gross Unrealized Gains	92
Gross Unrealized Losses	(369)
Fair Value	282,993
Cash Equivalents	121,491
Marketable Securities	161,502
Money market accounts
Marketable Securities [Line Items]
Amortized Cost	121,491
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	121,491
Cash Equivalents	121,491
Marketable Securities	0
Certificates of deposit
Marketable Securities [Line Items]
Amortized Cost	24,580
Gross Unrealized Gains	12
Gross Unrealized Losses	(2)
Fair Value	24,590
Cash Equivalents	0
Marketable Securities	24,590
Commercial paper
Marketable Securities [Line Items]
Amortized Cost	10,480
Gross Unrealized Gains	6
Gross Unrealized Losses	(2)
Fair Value	10,484
Cash Equivalents	0
Marketable Securities	10,484
Corporate debt securities
Marketable Securities [Line Items]
Amortized Cost	52,860
Gross Unrealized Gains	28
Gross Unrealized Losses	(49)
Fair Value	52,839
Cash Equivalents	0
Marketable Securities	52,839
Yankee bonds
Marketable Securities [Line Items]
Amortized Cost	2,669
Gross Unrealized Gains	7
Gross Unrealized Losses	0
Fair Value	2,676
Cash Equivalents	0
Marketable Securities	2,676
U.S. Treasury securities
Marketable Securities [Line Items]
Amortized Cost	57,841
Gross Unrealized Gains	0
Gross Unrealized Losses	(308)
Fair Value	57,533
Cash Equivalents	0
Marketable Securities	57,533
Mortgage- and asset-backed securities
Marketable Securities [Line Items]
Amortized Cost	13,349
Gross Unrealized Gains	39
Gross Unrealized Losses	(8)
Fair Value	13,380
Cash Equivalents	0
Marketable Securities	$ 13,380

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property Plant and Equipment, Net

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


	December 31,
	2023			2022
Buildings and improvements	$	59,730		$	36,493
Machinery, equipment, vehicles and office furniture		82,973			54,300
Computer equipment, hardware and software		11,624			7,517
Launch site assets		14,193			12,822
Construction in process		25,999			26,771
Property, plant and equipment—gross		194,519			137,903
Less accumulated depreciation and amortization		(49,110	)		(36,389	)
Property, plant and equipment—net	$	145,409		$	101,514

Depreciation expense recorded in the consolidated statements of operations and comprehensive loss during the years ended December 31, 2023, 2022 and 2021 consisted of the following:


	Years Ended December 31,
Depreciation expense	2023		2022		2021
Cost of revenues	$	8,481	$	12,867	$	4,608
Research and development		4,700		1,981		585
Selling, general and administrative		2,226		1,310		2,337
Total depreciation expense	$	15,407	$	16,158	$	7,530

Segments - Additional Information (Detail)	12 Months Ended
Segments - Additional Information (Detail)	Dec. 31, 2023 Segments
Segment Reporting [Abstract]
Number of operating segments	2

Cash and Cash Equivalents and Marketable Securities - Summary of Contractual Maturities of Marketable Securities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Marketable Securities [Line Items]
Amortized Cost	$ 283,270
Fair Value	282,993
Due within one year [Member]
Marketable Securities [Line Items]
Amortized Cost	203,770
Fair Value	203,746
Due within one to four years [Member]
Marketable Securities [Line Items]
Amortized Cost	79,500
Fair Value	$ 79,247

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

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


	December 31,
	2023		2022
Cash and cash equivalents	$	162,518	$	242,515
Marketable securities, current		82,255		229,276
Marketable securities, non-current		79,247		9,193
Total cash and cash equivalents and marketable securities	$	324,020	$	480,984

As of December 31, 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	$	121,491	$	—	$	—		$	121,491	$	121,491	$	—
Certificates of deposit		24,580		12		(2	)		24,590		—		24,590
Commercial paper		10,480		6		(2	)		10,484		—		10,484
Corporate debt securities		52,860		28		(49	)		52,839		—		52,839
Yankee bonds		2,669		7		—			2,676		—		2,676
U.S. Treasury securities		57,841		—		(308	)		57,533		—		57,533
Mortgage- and asset-backed securities		13,349		39		(8	)		13,380		—		13,380
Total	$	283,270	$	92	$	(369	)	$	282,993	$	121,491	$	161,502

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 December 31, 2023:


	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	$	9,249	$	(2	)	$	—	$	—		$	9,249	$	(2	)
Commercial paper		2,867		(2	)		—		—			2,867		(2	)
Corporate debt securities		26,333		(38	)		1,239		(11	)		27,572		(49	)
U.S. Treasury securities		57,533		(308	)		—		—			57,533		(308	)
Mortgage- and asset-backed securities		2,177		(1	)		2,297		(7	)		4,474		(8	)
Total	$	98,159	$	(351	)	$	3,536	$	(18	)	$	101,695	$	(369	)

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 December 31, 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 December 31, 2023:


	Amortized Cost		Fair Value
Due within one year	$	203,770	$	203,746
Due within one to two years		79,500		79,247
Total	$	283,270	$	282,993

ASSETS HELD FOR SALE (Additional Information) (Details) - USD ($) $ in Thousands	Oct. 18, 2023	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]
Recognized a gain on sale of assets	$ 1,094
Assets held for sale		$ 9,016	$ 0
Sale of helicopters	$ 3,900

PREPAIDS AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets, Current [Abstract]

PREPAIDS AND OTHER CURRENT ASSETS

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


	December 31,
	2023		2022
Prepaid expenses and deposits	$	48,031	$	43,126
Government grant receivables		9,940		1,443
Customer financing receivables		3,733		—
Other current assets		5,245		7,632
Total prepaids and other current assets	$	66,949	$	52,201

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Principals of Consolidation and Basis of Presentation

The consolidated financial statements are presented in conformity with accounting standards generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Rocket Lab USA, Inc. and its wholly owned subsidiaries after elimination of intercompany accounts and transactions.

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 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.

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Cash and Cash Equivalents

The Company considers cash and cash equivalents to be only those investments which are highly liquid, readily convertible to cash and which have a maturity date within ninety days from the date of purchase. The carrying amounts for the Company’s cash equivalents approximate fair value due to their short maturities. Cash equivalents are recorded at fair value and consist primarily of money market funds.

Restricted Cash

The Company considers restricted cash to include any cash that is legally restricted as to withdrawal or usage. The Company had $3,916 and $3,356 as of December 31, 2023 and 2022, respectively. The balance relates to collateral for letters of credit and money market accounts and is presented in restricted cash in the consolidated balance sheets.

Marketable Securities

Marketable securities consist of investments in commercial paper, corporate debt securities, bank certificates of deposit, U.S. Treasury bills and notes and asset backed securities. The Company’s investment policy requires the selection of high-quality issuers. The Company's marketable securities are classified as available-for-sale and are carried at fair value. The Company classifies all available-for-sale marketable securities with maturities greater than one year from the balance sheet date as non-current assets. Interest receivable on marketable securities is presented in prepaids and other current assets on the consolidated balance sheets.

Any unrealized holding gains or losses on debt securities, including their tax effect, are reported as components of other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. Realized gains and losses are included in other income (expense), net in the consolidated statements of operations and comprehensive loss, are determined using the specific identification method for determining the cost of securities sold. Interest and dividend income is recorded when earned and included in interest expense/income, net on the consolidated statements of operations and comprehensive loss. Premiums and discounts on marketable securities are amortized and accreted, respectively, to earliest call date and maturity, respectively, and included in other income (expense), net on the consolidated statements of operations and comprehensive loss.

At each balance sheet date, the Company assesses available-for-sale marketable securities in an unrealized loss position to determine whether it intends to sell or if it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the available-for-sale security with a fair value below amortized cost is written down to fair value through current period earnings. The Company also reviews its available-for-sale securities in an unrealized loss position to determine whether the unrealized loss is the result of a change in creditworthiness or other factors. If declines in the value of available for-sale securities are determined to be credit-related, a loss is recorded in earnings in the current period.

Accounts Receivable, Net

Accounts receivables represent amounts billed and currently due from customers. The amounts are stated at their net estimated realizable value. The Company monitors collections and payments from its customers and maintains an allowance for doubtful accounts, which effective January 1, 2020, is based upon applying an expected credit loss rate to receivables based on the historical loss rate from similar high-risk customers adjusted for current conditions, including any specific customer collection issues identified, and forecasts of economic conditions. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. The allowance for credit losses as of December 31, 2023 and 2022, and the activity in this account, including the current-period provision for expected credit losses for the years ended December 31, 2023, 2022 and 2021, were not material.

Inventories

Inventories consist of components and subassemblies, spare parts and consumable goods. Inventories are recorded at actual acquisition costs and adjusted to the lower of cost or estimated net realizable value. Costs include direct material, direct labor, applicable manufacturing and engineering overhead, and other direct costs.

Prepaids and Other Current Assets

Prepaids and other current assets include goods and services tax, prepaid expenses, deposits, government grant receivables and miscellaneous receivables.

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 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.

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.

Property, Plant and Equipment, Net

Property, plant and equipment, are stated at cost, less accumulated depreciation. Historically, the Company has calculated depreciation on Launch Services related assets using a diminishing value method which approximates a double-declining method over the estimated useful lives of assets and depreciation on Space Systems related assets using the straight-line method over the estimated useful lives of assets. Effective October 1, 2022, the Company implemented a change from diminishing value method to straight-line method for Launch Services related assets because the straight-line method will more accurately reflect the pattern of usage and the expected benefits of such assets. The Company considered the change to be a change in accounting estimate effected by a change in accounting principle, and as such have been accounted for on a prospective basis. The change did not have a material impact on the financial statements. The Company will depreciate over the useful lives as follows:


Asset Category		Estimated Useful Lives
Buildings and improvements		15 to 30 years
Machinery, equipment, vehicles and office furniture		2 to 12 years
Computer equipment, hardware and software		3 to 5 years
Launch site assets		3 to 15 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life

Launch site assets include buildings, machinery and equipment at launch sites.

Repair and maintenance costs are expensed as incurred. Assets disposed of or retired are removed from cost and accumulated depreciation accounts and any resulting gain or loss is reflected in the Company’s consolidated statements of operations and comprehensive loss.

Business Combination

The results of businesses acquired in a business combination are included in our consolidated financial statements from the date of the acquisition. The Company uses the acquisition method of accounting for business combinations and recognizes assets acquired and liabilities assumed measured at their fair values on the date acquired. Goodwill is measured as of the acquisition date as the excess of consideration transferred over the net acquisition date fair value of the assets acquired and the liabilities assumed.

The Company performs valuations of assets acquired and liabilities assumed and allocates the purchase price to its respective assets and liabilities. Determining the fair value of assets acquired and liabilities assumed requires us to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenue, costs and cash flows, discount rates and selection of comparable companies. The Company engages the assistance of valuation specialists in concluding on fair value measurements in connection with determining fair values of assets acquired and liabilities assumed in a business combination.

Intangible Assets, Net

Intangible assets consist of purchased intangible assets including developed technology, in-process research and development, customer relationships, backlog, trademarks and tradenames, non-compete agreements, capitalized software and capitalized intellectual property and are amortized over their useful lives ranging from one to twenty years using the straight-line method of amortization. The Company evaluates the recoverability of intangible assets periodically by considering events or circumstances that may warrant revised estimates of useful lives or that indicate the asset may be impaired.

Impairment of Long-Lived Assets

Long-lived assets consist of property, plant equipment and intangible assets with estimable useful lives subject to depreciation and amortization. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of an asset or asset group to be held and used is measured by a comparison of the carrying amount of an asset or asset group to the estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of the asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset or asset group exceeds the fair value of the asset or asset group. There was no impairment of long-lived assets during the years ended December 31, 2023, 2022 and 2021.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combination. We test goodwill for impairment at least annually during the fourth fiscal quarter, or more frequently if indicators of impairment exist during the fiscal year. Events or circumstances which could trigger an impairment review include a significant adverse change in legal factors or in the business climate, loss of key customers, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel, significant changes in the manner of the Company’s use of the acquired assets or the strategy for the Company’s overall business, significant negative industry or economic trends or significant underperformance relative to expected historical or projected future results of operations.

When testing goodwill for impairment, the Company first performs a qualitative assessment. If the Company determines it is more likely than not that a reporting unit’s fair value is less than its carrying amount, then a one-step impairment test is required. If the Company determines it is not more likely than not a reporting unit’s fair value is less than its carrying amount, then no further analysis is necessary. To identify whether a potential impairment exists, the Company compares the estimated fair value of the reporting unit with its carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If, however, the fair value of the reporting unit is less than its carrying amount, then such balance would be recorded as an impairment loss.

Any impairment loss is limited to the carrying amount of goodwill allocated to the reporting unit. There was no impairment of goodwill during the years ended December 31, 2023, 2022 and 2021.

Fair Value of Financial Instruments

We utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. We estimate fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which is categorized in one of the following levels:

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

•

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The inputs to the determination of fair value are based upon the best information in the circumstances and may require significant management judgment or estimation.

The Company considers the carrying values of cash, restricted cash, accounts receivable, accounts payable, and accrued expenses to approximate fair value for these financial instruments due to the short maturities of these instruments. The Company’s preferred stock warrant options and public and private warrants were carried at fair value and determined according to the fair value hierarchy above (Note 6).

Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis

Certain assets and liabilities, including goodwill and intangible assets, are subject to measurement at fair value on a non-recurring basis upon initial acquisition in a business combination or if they are deemed to be impaired as a result of an impairment review.

Fair Value of Common Stock

Subsequent to the Business Combination, the fair value of the Company’s common stock is based on the closing market price on the date of grant. Prior to the Business Combination, due to the absence of an active market for the Company’s common stock, the fair value of the Company’s common stock is estimated based on current available information. This estimate required significant judgment and considers several factors, such as estimated probabilities of future liquidation scenarios, future equity values estimated based on project future cash flows and guideline public company information, discount rates, expected volatility and discounts for lack of marketability. These estimates were highly subjective in nature and involved a large degree of uncertainty.

Such estimates of the fair value of the Company’s common stock were used in the measurement of stock-based compensation expense and common stock and preferred stock warrants prior to the Business Combination.

Equity Issuance Costs

Certain transaction costs incurred in connection with the Merger Agreement that are direct and incremental to the Business Combination (see Note 1) have been recorded as a component of additional paid-in capital within the Consolidated Balance Sheets.

Revenue Recognition

The Company generates revenue from launch services and space systems solutions. Launch services may be provided as a mission dedicated to a single customer or as a rideshare arrangement with multiple spacecraft from multiple customers. Space systems solutions revenue is comprised of space engineering, program management, spacecraft components, spacecraft manufacturing, space software and mission operations.

Revenue is recognized when control of the promised product or service is transferred to our customers at an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services. The Company’s revenue contracts are generally fixed-price contracts or time and materials contracts depending upon the nature of the contract. In fixed-price contracts, to the extent actual costs vary from the cost upon which the price was negotiated, the Company will generate variable levels of profit or could incur a loss.

The Company enters into contracts that can include various combinations of products and services, including contracts that contain both launch services and space systems products and services. In general, each launch and space system product or service is capable of being distinct and accounted for as separate performance obligations. Where contracts contain a single performance obligation, the entirety of the transaction price is allocated to this one performance obligation. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation based on the estimated standalone selling price of the product or service underlying each performance obligation. The standalone selling price represents the amount the Company would sell the product or service to a customer on a standalone basis.

The transaction price represents the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised services to its customers. The consideration promised within a contract may include fixed amounts and variable amounts. Variable consideration may consist of final milestone payments or mission success fees that are earned when the payload is delivered to the specified orbit, amongst other types.

The Company estimates variable consideration at the most likely amount, which is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur.

The Company recognizes revenue when or as control is transferred to the customer, either over-time or at a point-in-time.

Generally, launch services revenue is recognized at a point-in-time when control transfers upon intentional ignition of the launch or where successful delivery milestones are applicable, such as upon delivery of the spacecraft to the specified orbit. In some circumstances, launch service revenue is recognized over-time when it is determined that there is no alternative use for the mission, due to contractual or practical limitations, and when the Company has an enforceable right to payment for the services performed to date including a reasonable profit.

Revenue for space systems is recognized at a point-in-time or over-time depending upon the nature of the contract with customer. For contracts to provide space engineering, program management and mission operations, the Company recognizes revenues over-time as the customer simultaneously receives and consumes the benefits provided by the Company’s performance as the Company performs. Similarly, spacecraft manufacturing is recognized over-time when it is determined that there is no alternative use for the spacecraft, due to contractual or practical limitations, and where the Company has an enforceable right to payment for the services performed to date including a reasonable profit. Contracts to provide components for spacecraft that do not qualify for over-time recognition are recognized at a point-in-time when control is transferred.

For revenue recognized over-time, the Company uses either an input method, based on costs incurred relative to total estimated costs at completion to estimate the percentage of completion, or an output method, based upon days of service, depending upon the nature of the performance obligation. For revenues measured utilizing an input method, the costs incurred are determined by assessing the physical and technical progress on the performance obligation applied to the standard costs. Due to the nature of the work performed under spacecraft construction contracts, the estimation of physical and technical progress requires judgment and is subject to many variables including but not limited to actual progress and costs incurred, labor productivity, changes in cost and availability of materials.

Contracts for space software provide the customer with a right to use the software as it exists when made available to the customer. Customers may purchase perpetual entity-wide licenses or mission-based licenses, which provide customers with the same functionality and differ primarily in the number of spacecraft into which the software may be integrated. Revenue from space software is recognized upfront at the point-in-time when the software is made available to the customer. When customers purchase when and if available software maintenance in addition to the space software license, revenues allocated to the maintenance are recognized ratably over the maintenance period.

Due to their nature, time and materials contracts contain variable consideration; however, in general, the Company’s performance obligations under time and materials contracts qualify for the “right to invoice” practical expedient. Under this practical expedient, the Company recognizes revenue, over time, in the amount to which the Company has a right to invoice. In addition, the Company is not required to estimate such variable consideration upon inception of the contract and reassess the estimate each reporting period. The Company determined that this method best represents the transfer of services as, upon billing, the Company has a right to consideration from a customer in an amount that directly corresponds with the value to the customer of the Company’s performance completed to date.

Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities.

Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers.

Contract assets include unbilled amounts under contracts when revenue recognized exceeds the amount billed to the customer. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional and the invoice is issued. Contract assets are classified as current if the invoice will be delivered to the customer within the succeeding 12-month period with the remaining recorded as long-term. These contract assets are not considered a significant financing component of the company’s contracts as the payment terms are intended to protect the customer in the event the company does not perform on its obligations under the contract. Contract liabilities primarily consists of customer billings in advance of revenues being recognized. Contract liabilities are not a significant financing component as they are generally utilized to pay for contract costs within a one-year period or are used to ensure the customer meets contractual requirements.

If our actual costs exceed our estimates, our margins and profits are reduced and we could incur a provision for contract loss. A provision for contract loss is when estimates of total costs to be incurred on a contract exceed total estimates of the transaction price. When this occurs, a provision for the entire loss is determined at the contract level and is recorded in the period in which the loss is evident.

Cost of Revenues

Cost of revenues includes direct material costs, compensation and benefits and other costs, such as launch service supplies and consumables, lab supplies, insurance, travel, vehicle and equipment related costs directly associated with generating revenues.

Selling, General and Administrative

Selling, general and administrative expenses consist of indirect costs, including management and executive compensation, corporate costs related to finance, accounting, human resources, information technology, legal, administrative, safety, professional services, rent and other general expenses.

Advertising costs are expensed as incurred and presented within selling, general and administrative expenses in the consolidated statements of operations and comprehensive loss. For the years ended December 31, 2023, 2022 and 2021, advertising costs were not material.

Research and Development Costs, net

Research and development costs, net primarily include labor, prototype, and professional services related to the development of our Space System platform and components and the Neutron Launch Vehicle. These costs are based on a cost model for research and development relating to internal product development programs not associated with customer contractual arrangements. These costs are presented net of government grants on the consolidated statements of operations and comprehensive loss.

Government Assistance

The Company is applying for tax credits related to a research and development tax incentive program with the New Zealand government effective from January 1, 2021. This tax incentive will reimburse up to 15% of the Company’s qualifying research and development costs incurred. The Company may recognize a grant receivable once eligible reimbursable research and development expenses are incurred and the Company determines that it is probable that it meets the conditions required for the program and that it will receive a grant. Any corresponding grant receivable will be presented within prepaids and other current assets and other non-current assets on the consolidated balance sheets. The Company recorded credits of $4,605, $6,998 and $2,563 during the years ended December 31, 2023, 2022 and 2021, respectively, which is presented within research and development, net in consolidated statements of operations and comprehensive loss. As of December 31, 2023 and 2022, government grant receivables includes $5,417 and $1,443, respectively, related to this program. As of December 31, 2023 and 2022, other non-current assets includes $4,739 and $5,873, respectively, related to this program.

The Company has various research government assistance awards from the Air Force Research Laboratory in connection with solar technology. The Company recorded credits of $1,810 and $4,433 during the years ended December 31, 2023 and 2022 in connection with these awards, which is presented within research and development, net in consolidated statements of operations and comprehensive loss.

The Company entered into an agreement with the U.S. Space Force’s Space Systems Command for development of the Neutron launch vehicle’s upper stage during the year ended 2021. The Company recorded credits of $20,339, $3,618 and $393 in connection with this award during the years ended December 31, 2023, 2022 and 2021, respectively, which is presented within research and development, net in consolidated statements of operations and comprehensive loss. As of December 31, 2023, government grant receivables includes $682, related to this program.

The Company applied for the employee retention credit under the CARES Act during the year ended December 31, 2023. The Company recorded credits of $2,130, $631 and $1,080 during the year ended December 31, 2023, which is presented within cost of revenues, research and development, net and selling, general and administrative, respectively, in consolidated statements of operations and comprehensive loss. As of December 31, 2023, government grant receivables includes $3,841, related to the employee retention credit.

Stock-Based Compensation

The Company’s stock compensation plan is classified as an equity plan which permits stock awards in the form of employee stock options and restricted stock awards. For awards that vest solely based on continued service, the fair value of an award is recognized as an expense over the requisite service period on a straight-line basis. For awards that contain performance conditions, the fair value of an award is recognized based on the probability of the performance condition being met.

The fair value of stock options under the Company’s employee equity incentive plan are estimated as of the grant date using the Black-Scholes option valuation model, which is affected by estimates of the fair value per share of the Company’s common stock, the risk-free interest rate, expected dividend yield, expected term and the expected share price volatility of its common shares over the expected term, which are estimated as follows:

•

Fair value per share of common stock. Prior to the Business Combination, due to the absence of an active market for the Company’s common stock, the fair value of the Company’s common stock for purposes of determining the exercise price for stock option grants and the fair value at grant date was estimated based on highly subjective and uncertain information. The exercise price of stock options was set at least equal to the fair value of the Company’s common stock on the date of grant. Following the completion of the Business Combination in August 2021, the Company estimates the fair value of common stock based on the market price of our Common Stock underlying the awards on the grant date.

•

Expected volatility. The Company’s shares have actively traded for a short period of time subsequent to the Business Combination, the volatility is based on the weighted average historical volatilities of the Company and a pool of public companies that are comparable to the Company. Expected volatility represents the estimated volatility of the shares over the expected life of the options.

•

Expected term. The Company determines the expected term of the awards using the simplified method due to the Company’s insufficient history of option exercise and forfeiture activity. The simplified method estimates the expected term based on the average of the vesting period and contractual term of the stock option.

•

Risk-free interest rate. The risk-free interest rate for periods within the expected life of the option is derived from the U.S. treasury interest rates in effect at the date of grant.

•

Estimated dividend yield. The Company uses an expected dividend yield of zero since no dividends are expected to be paid.

The fair value of restricted stock units granted under the Company’s employee equity incentive plans are estimated as of the grant date in an amount equal to the estimated fair value per share of the Company’s common stock.

Forfeitures are recognized as incurred for as they occur. Unless otherwise approved, options must be exercised while the individual is an employee or within 90-days of termination when applicable. The expiration date of newly issued options is ten years after grant date unless earlier terminated as provided for in the Plan.

The assumptions used in calculating the fair value of stock-based awards represent our best estimates, however, these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change or we use different assumptions, stock-based compensation expense could be materially different in the future.

Income Taxes

The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized by applying the statutory tax rates in effect in the years in which the differences between the financial reporting and tax filing bases of existing assets and liabilities are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.

The Company utilizes a two-step approach to recognizing and measuring uncertain income tax positions (tax contingencies). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. The Company makes estimates, assumptions and judgments to determine its provision for income taxes and also for deferred tax assets and liabilities and any valuation allowances recorded against deferred tax assets. Actual future operating results and the underlying amount and type of income could differ materially from the Company’s estimates, assumptions and judgments thereby impacting its consolidated financial position and results of operations.

Segment Information

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s CODM is its Chief Executive Officer. The Company has determined that it operates in two reportable segments: Launch Services and Space Systems.

Foreign Currencies

The functional currency of certain of the Company’s wholly owned subsidiaries is the currency of the primary economic environment in which they operate. Assets and liabilities denominated in currencies other than the functional currency are remeasured at the exchange rate in effect on the balance sheet date, with exchange differences or remeasurement included in other (expense) income, net on our consolidated statement of operations and comprehensive loss. Revenue and expenses are translated at average rates of exchange prevailing during the respective period. Translation adjustments resulting from this process are recorded as a component of accumulated other comprehensive income (loss) in the consolidated statement of redeemable convertible preferred stock and shareholders’ deficit.

Leases

The Company leases certain property, vehicles and equipment. At contract inception, the Company determines if contract contains a lease and whether the lease should be classified as an operating or financing lease.

ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, it uses the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The ROU asset also includes any lease prepayments made and excludes lease incentives. The Company’s lease terms include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Finance leases result in the recognition of depreciation expense, which is recognized on a straight-line basis over the expected life of the leased asset, and interest expense, which is recognized following an effective interest rate method.

The Company excludes short-term leases (term of 12 months or less) from the balance sheet presentation and accounts for non-lease and lease components in a contract as a single lease component for certain asset classes.

Warrants

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging (“ASC 815”). For warrants that meet all the criteria for equity classification, the warrants are recorded as a component of additional paid-in capital at the time of issuance. The Company accounted for warrants assumed in connection with the Business Combination in accordance with the guidance contained in ASC 815, Derivatives and Hedging, under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classified the warrants as liabilities at their fair value and adjusted the warrants to fair value at each reporting period. This liability was subject to re-measurement at each balance sheet date until exercised, and any change in fair value was recognized in the Consolidated Statements of Operations and Comprehensive Loss.

Recent Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. It requires a public entity to disclose the title and position of the Chief Operating Decision Maker. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. The Company is assessing the potential impact of adopting the ASU on its financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. For PBEs, the new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all period presented. The Company is assessing the potential impact of adopting the ASU on its financial statements.

EMPLOYEE BENEFITS

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

EMPLOYEE BENEFITS

15.

EMPLOYEE BENEFITS

Defined Contribution Plans

The Company’s 401(k) Savings and Retirement Plan covers any eligible employee on the active payroll of the Company. The Company’s contributions were approximately $2,427, $1,520 and $441 during the years ended December 31, 2023, 2022 and 2021, respectively. The Company’s contributions consist of matching contributions, and non-elective contributions on behalf of employees.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (d)(iv)(03)
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (q)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Stock-based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Options to Purchase Common Stock, Outstanding, beginning	13,257,720	17,345,328	22,088,726
Options to Purchase Common Stock, Exercised	(2,623,282)	(3,887,435)	(3,708,786)
Options to Purchase Common Stock, Forfeited	(7,556)	(200,173)	(857,579)
Options to Purchase Common Stock, Expired	(75,596)		(177,033)
Options to Purchase Common Stock, Outstanding, ending	10,551,286	13,257,720	17,345,328	22,088,726
Options to Purchase Common Stock, Options vested and exercisable	10,551,286	13,185,026	15,112,440
Weighted- Average Exercise Price per Share, Outstanding, beginning	$ 1.03	$ 1.03	$ 1.03
Weighted- Average Exercise Price per Share, Exercised	0.93	1.02	1
Weighted- Average Exercise Price per Share, Forfeited	1.42	1.22	1.21
Weighted- Average Exercise Price per Share, Expired	1.22		1.16
Weighted- Average Exercise Price per Share, Outstanding, ending	1.06	1.03	1.03	$ 1.03
Weighted- Average Exercise Price per Share, Options vested and exercisable	1.06	1.03	1.01
Weighted- Average Grant Date Fair Value per Share, Outstanding, beginning	0.53	0.54	0.53
Weighted- Average Grant Date Fair Value per Share, Exercised	0.47	0.51	0.51
Weighted- Average Grant Date Fair Value per Share, Forfeited	0.78	0.71	0.6
Weighted- Average Grant Date Fair Value per Share, Expired	0.72		0.31
Weighted- Average Grant Date Fair Value per Share, Outstanding, ending	0.53	0.53	0.54	$ 0.53
Weighted- Average Grant Date Fair Value per Share, Options vested and exercisable	$ 0.53	$ 0.53	$ 0.52
Weighted- Average Remaining Contract Life (In Years), Outstanding	4 years 3 months 25 days	5 years 2 months 4 days	6 years 10 days	7 years 1 month 13 days
Weighted- Average Remaining Contract Life (In Years), Exercised	10 months 9 days	1 year 11 months 4 days	4 years 3 months 25 days
Weighted- Average Remaining Contract Life (In Years), Forfeited			3 days
Weighted- Average Remaining Contract Life (In Years), Outstanding, Ending balance	4 years 3 months 25 days	5 years 2 months 4 days	6 years 10 days	7 years 1 month 13 days
Weighted- Average Remaining Contract Life (In Years), Options vested and exercisable	4 years 3 months 25 days	5 years 2 months 4 days	5 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding	$ 47,210	$ 36,306	$ 195,111	$ 85,853
Aggregate Intrinsic Value, Exercised	12,072	10,687	41,822
Aggregate Intrinsic Value, Forfeited	31	510	9,131
Aggregate Intrinsic Value, Expired	326		1,969
Aggregate Intrinsic Value, Exercised, Ending Balance	47,210	36,306	195,111	$ 85,853
Aggregate Intrinsic Value, Options vested and exercisable	$ 47,210	$ 36,134	$ 170,320

Concentration of Credit Risk, Significant Customers and Geographic Information - Schedule of Long Lived Assets by Geographic Area (Detail) - Long Lived Assets [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 358,911	$ 303,079
Concentration risk percentage	100.00%	100.00%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 308,718	$ 246,901
Concentration risk percentage	86.00%	81.00%
New Zealand [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 45,575	$ 53,188
Concentration risk percentage	13.00%	18.00%
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 4,618	$ 2,990
Concentration risk percentage	1.00%	1.00%

Revenues - Reconciliation of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenues	$ 244,592	$ 210,996	$ 62,237
Launch Services
Disaggregation Of Revenue [Line Items]
Revenues	71,894	60,685	38,971
Space Systems
Disaggregation Of Revenue [Line Items]
Revenues	172,698	150,311	23,266
Point-in-time
Disaggregation Of Revenue [Line Items]
Revenues	117,835	121,341	49,154
Point-in-time \| Launch Services
Disaggregation Of Revenue [Line Items]
Revenues	71,131	60,200	36,576
Point-in-time \| Space Systems
Disaggregation Of Revenue [Line Items]
Revenues	46,704	61,141	12,578
Over time
Disaggregation Of Revenue [Line Items]
Revenues	126,757	89,655	13,083
Over time \| Launch Services
Disaggregation Of Revenue [Line Items]
Revenues	763	485	2,395
Over time \| Space Systems
Disaggregation Of Revenue [Line Items]
Revenues	$ 125,994	$ 89,170	$ 10,688

- 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)
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-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 5
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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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
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
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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
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 41
-Subparagraph (a)
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

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


	December 31,
	2023		2022
Raw materials	$	45,062	$	33,376
Work in process		53,628		50,661
Finished goods		9,167		8,242
Total inventories	$	107,857	$	92,279

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Summary of Stock-based Compensation Expense Recognized in Conjunction with the Sinclair Interplanetary Acquisition (Detail) - USD ($) $ in Thousands		12 Months Ended
	Aug. 25, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Allocated share based compensation	$ 9,642	$ 53,461	$ 55,649	$ 32,557

Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Other Comprehensive Income (Loss) [Member]	Redeemable Convertible Preferred Stock [Member]	Redeemable Convertible Preferred Stock [Member] Preferred Stock [Member]
Balance at Beginning at Dec. 31, 2020	$ (166,708)	$ 8	$ 19,920	$ (187,691)	$ 1,055		$ 274,960
Balance at Beginning (in Shares) at Dec. 31, 2020		78,410,162				283,843,764
Net Income (Loss)	(117,320)			(117,320)
Exercise of stock options	$ 3,122		3,122
Exercise of stock options (in Shares)	3,708,786	3,688,836
Stock-based compensation	$ 33,108		33,108
Exercise of preferred stock warrants	6,514		6,514
Exercise of preferred stock warrants (in Shares)						817,981
Exchange of preferred stock warrants for common stock warrants	2,975		2,975
Conversion of public warrants for common stock	35		35
Conversion of public warrants for common stock, (in Shares)		2,180
Conversion of redeemable convertible preferred stock to common stock	274,961	$ 29	274,932				$ (274,960)
Conversion of redeemable convertible preferred stock to common stock (in Shares)		284,661,745				(284,661,745)
Issuance of stock for acquisition	11,568		11,568
Issuance of stock for acquisition (in Shares)		853,306
Reverse recapitalization, net of transaction costs	649,940	$ 8	649,932
Reverse recapitalization, net of transaction costs (in Shares)		81,685,363
Common stock issued upon exercise of warrants (in Shares)		878,887
Other comprehensive income	253				253
Balance at Ending at Dec. 31, 2021	698,448	$ 45	1,002,106	(305,011)	1,308
Balance at Ending (in Shares) at Dec. 31, 2021		450,180,479
Net Income (Loss)	$ (135,944)			(135,944)
Exercise of stock options (in Shares)	3,887,435
Stock-based compensation	$ 58,403		58,403
Issuance of stock for acquisition	0
Issuance of stock for acquisition (in Shares)		2,411,092
Common stock issued upon exercise of warrants	44,844		44,844
Common stock issued upon exercise of warrants (in Shares)		4,554,830
Issuance of common stock under equity plans	7,627	$ 3	7,624
Issuance of common stock under equity plans, (in Shares)		18,210,116
Other comprehensive income	(172)				(172)
Balance at Ending at Dec. 31, 2022	673,206	$ 48	1,112,977	(440,955)	1,136
Balance at Ending (in Shares) at Dec. 31, 2022		475,356,517
Net Income (Loss)	$ (182,571)			(182,571)
Exercise of stock options (in Shares)	2,623,282
Stock-based compensation	$ 51,403		51,403
Issuance of stock for acquisition	2,087		2,087
Issuance of stock for acquisition (in Shares)		686,123
Issuance of common stock under equity plans	7,423	$ 1	7,422
Issuance of common stock under equity plans, (in Shares)		12,880,415
Issuance of common stock warrants in connection with loan agreement	2,595		2,595
Other comprehensive income	401				401
Balance at Ending at Dec. 31, 2023	$ 554,544	$ 49	$ 1,176,484	$ (623,526)	$ 1,537
Balance at Ending (in Shares) at Dec. 31, 2023		488,923,055

Leases - Schedule of The Future Minimum Operating Lease Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024	$ 8,985
2025	9,372
2026	9,366
2027	9,024
2028	8,095
Thereafter	38,375
Total lease payments	83,217
Less imputed interest	(21,842)
Total	61,375
Finance Lease, Liability, to be Paid, Rolling Maturity [Abstract]
2024	1,278
2025	1,201
2026	1,231
2027	1,262
2028	1,293
Thereafter	20,824
Total lease payments	27,089
Less imputed interest	(11,522)
Total	$ 15,567

Net Loss Per Share - Summary of Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options And Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Equity shares	26,889,125	29,943,937	34,292,250
Public and Private Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Equity shares	728,835	0	16,264,516

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Principals of Consolidation and Basis of Presentation

Use of Estimates

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Cash and Cash Equivalents

Restricted Cash

Marketable Securities

Accounts Receivable, Net

Inventories

Prepaids and Other Current Assets

Prepaids and other current assets include goods and services tax, prepaid expenses, deposits, government grant receivables and miscellaneous receivables.

Customer Financing

Assets Held For Sale

Property, Plant and Equipment, Net


Asset Category		Estimated Useful Lives
Buildings and improvements		15 to 30 years
Machinery, equipment, vehicles and office furniture		2 to 12 years
Computer equipment, hardware and software		3 to 5 years
Launch site assets		3 to 15 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life

Launch site assets include buildings, machinery and equipment at launch sites.

Business Combination

Intangible Assets, Net

Impairment of Long-Lived Assets

Goodwill

Any impairment loss is limited to the carrying amount of goodwill allocated to the reporting unit. There was no impairment of goodwill during the years ended December 31, 2023, 2022 and 2021.

Fair Value of Financial Instruments

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis

Fair Value of Common Stock

Equity Issuance Costs

Revenue Recognition

The Company recognizes revenue when or as control is transferred to the customer, either over-time or at a point-in-time.

Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities.

Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers.

Cost of Revenues

Selling, General and Administrative

Research and Development Costs, net

Government Assistance

Stock-Based Compensation

•

Risk-free interest rate. The risk-free interest rate for periods within the expected life of the option is derived from the U.S. treasury interest rates in effect at the date of grant.

•

Estimated dividend yield. The Company uses an expected dividend yield of zero since no dividends are expected to be paid.

Warrants

Recently Adopted Accounting Pronouncements

Recent Accounting Pronouncements

Income Taxes - Schedule of Differences Between Federal Statutory Income Tax Rate and Provision for Income Taxes (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
Adjustments for tax effects of:
State taxes, net of federal benefit	3.20%	8.30%	1.20%
Transaction costs	0.00%	1.40%	(0.20%)
Permanent differences and other	0.40%	(0.30%)	(0.60%)
Uncertain tax positions	(0.70%)	(2.10%)	0.00%
Warrants	0.00%	2.10%	(1.90%)
Stock-based compensation	(0.50%)	6.50%	1.90%
Other adjustments to deferred taxes	1.70%	0.00%	0.00%
Increase in valuation allowance	(27.10%)	(39.20%)	(15.40%)
(Benefit) provision for income taxes	(2.00%)	(2.30%)	6.00%

PREPAIDS AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepaids and Other Current Assets

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


	December 31,
	2023		2022
Prepaid expenses and deposits	$	48,031	$	43,126
Government grant receivables		9,940		1,443
Customer financing receivables		3,733		—
Other current assets		5,245		7,632
Total prepaids and other current assets	$	66,949	$	52,201

Leases - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current liabilities:
Operating lease liabilities	$ 5,276	$ 3,388
Finance lease liabilities	$ 329	$ 336
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Total Lease Liabilities Current	$ 5,605	$ 3,724
Non-current liabilities:
Non-current operating lease liabilities	$ 56,099	$ 34,266
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Non-current finance lease liabilities	Non-current finance lease liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Non-current operating lease liabilities	Non-current operating lease liabilities
Non-current finance lease liabilities	$ 15,238	$ 15,568
Total Lease Liabilities Non Current	71,337	49,834
Lease Liability, Total	$ 76,942	$ 53,558

Goodwill and Intangible Assets, Net - Components of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 101,009	$ 99,482
Accumulated Amortization	(32,915)	(19,790)
Net Carrying Amount	68,094	79,692
In-process Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,300	2,600
Accumulated Amortization	0	0
Net Carrying Amount	2,300	2,600
Developed Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	56,065	55,765
Accumulated Amortization	(16,649)	(9,809)
Net Carrying Amount	39,416	45,956
Capitalized Software [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,690	10,502
Accumulated Amortization	(7,454)	(5,023)
Net Carrying Amount	4,236	5,479
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,135	16,122
Accumulated Amortization	(3,234)	(1,866)
Net Carrying Amount	12,901	14,256
Trademark and Tradenames [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,106	10,104
Accumulated Amortization	(1,789)	(947)
Net Carrying Amount	8,317	9,157
Backlog [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,491	3,491
Accumulated Amortization	(3,366)	(1,866)
Net Carrying Amount	125	1,625
Other
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,222	898
Accumulated Amortization	(423)	(279)
Net Carrying Amount	$ 799	$ 619

SUBSEQUENT EVENTS (Additional Information) (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Thousands	Feb. 08, 2024	Feb. 06, 2024
Subsequent Event [Line Items]
Maturity Date		February 1, 2029
Conversion of Stock, Shares Issued		195.1029
Unpaid interest and legal fees.	$ 38,778
Capped Call Transactions
Subsequent Event [Line Items]
The cost of the Capped Call Transactions		$ 43,168
Common Stock [Member]
Subsequent Event [Line Items]
Conversion of Stock New Issuance		The initial conversion rate is 195.1029 shares of common stock per $1 principal amount of Notes
Debt Instrument, Convertible, Conversion Price		$ 5.13
Convertible Senior Notes
Subsequent Event [Line Items]
Aggregate principal amount issued		$ 355,000
Percentage of convertable senoir notes		4.25%
Conversion of Stock Amount Issued		$ 1
Convertible Senior Notes \| Indenture and Notes [Member]
Subsequent Event [Line Items]
Aggregate principal amount issued		$ 55,000
Percentage of convertable senoir notes		4.25%

NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

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

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company for the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023			2022			2021
Numerator
Net loss attributable to common stockholders-basic and diluted	$	(182,571	)	$	(135,944	)	$	(117,320	)
Denominator
Weighted average common shares outstanding-basic and diluted		481,768,060			466,214,095			209,895,135
Net loss per share attributable to common stockholders-basic and diluted	$	(0.38	)	$	(0.29	)	$	(0.56	)

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 for the years ended December 31, 2023, 2022 and 2021:


	December 31,
	2023		2022		2021
Stock options and restricted stock units		26,889,125		29,943,937		34,292,250
Public and Private Warrants		728,835		—		16,264,516

Segments - Summary of Information by Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Sales Information [Line Items]
Cost of revenues	$ 193,183	$ 192,006	$ 64,130
Gross profit (loss)	51,409	18,990	(1,893)
Launch Services [Member]
Sales Information [Line Items]
Revenues	71,894	60,686	38,971
Cost of revenues	63,827	67,640	53,827
Gross profit (loss)	8,067	(6,954)	(14,856)
Space Systems [Member]
Sales Information [Line Items]
Revenues	172,698	150,310	23,266
Cost of revenues	129,356	124,366	10,303
Gross profit (loss)	$ 43,342	$ 25,944	$ 12,963

- 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

Prepaid and Other Current Assets - Schedule of Prepaid and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid expenses and deposits	$ 48,031	$ 43,126
Government grant receivables	9,940	1,443
Customer financing receivables	3,733	0
Other current assets	5,245	7,632
Total prepaids and other current assets	$ 66,949	$ 52,201

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 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

Significant Accounting Policies - Summary of Useful Lives of Property and Equipment (Detail)	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Leasehold improvements	Lessee, operating lease, remaining lease term
Minimum \| Buildings and Improvements [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	15 years
Minimum \| Machinery, Equipment, Vehicles and Office Furniture [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	2 years
Minimum \| Computer Equipment, Hardware and Software [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Minimum \| Launch Site Assets [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Maximum \| Buildings and Improvements [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	30 years
Maximum \| Machinery, Equipment, Vehicles and Office Furniture [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	12 years
Maximum \| Computer Equipment, Hardware and Software [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Maximum \| Launch Site Assets [Member]
Property Plant And Equipment [Line Items]
Estimated useful life	15 years

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

10.

PROPERTY, PLANT AND EQUIPMENT, NET

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


	December 31,
	2023			2022
Buildings and improvements	$	59,730		$	36,493
Machinery, equipment, vehicles and office furniture		82,973			54,300
Computer equipment, hardware and software		11,624			7,517
Launch site assets		14,193			12,822
Construction in process		25,999			26,771
Property, plant and equipment—gross		194,519			137,903
Less accumulated depreciation and amortization		(49,110	)		(36,389	)
Property, plant and equipment—net	$	145,409		$	101,514

Depreciation expense recorded in the consolidated statements of operations and comprehensive loss during the years ended December 31, 2023, 2022 and 2021 consisted of the following:


	Years Ended December 31,
Depreciation expense	2023		2022		2021
Cost of revenues	$	8,481	$	12,867	$	4,608
Research and development		4,700		1,981		585
Selling, general and administrative		2,226		1,310		2,337
Total depreciation expense	$	15,407	$	16,158	$	7,530

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 244,592	$ 210,996	$ 62,237
Cost of revenues	193,183	192,006	64,130
Gross profit (loss)	51,409	18,990	(1,893)
Operating expenses:
Research and development, net	119,054	65,168	41,765
Selling, general and administrative	110,273	89,026	58,395
Total operating expenses	229,327	154,194	100,160
Operating loss	(177,918)	(135,204)	(102,053)
Other income (expense):
Interest income (expense), net	(4,248)	(7,799)	(6,128)
Loss on foreign exchange	(470)	(4,435)	(567)
Change in fair value of liability classified warrants	0	13,482	(15,294)
Other income (expense), net	3,715	1,010	(798)
Total other income (expense), net	(1,003)	2,258	(22,787)
Loss before income taxes	(178,921)	(132,946)	(124,840)
Benefit (provision) for income taxes	(3,650)	(2,998)	7,520
Net loss	(182,571)	(135,944)	(117,320)
Other comprehensive income (loss), net of tax:
Foreign currency translation income (loss)	(93)	600	253
Unrealized gain (loss) on available-for-sale marketable securities	494	(772)	0
Comprehensive loss	$ (182,170)	$ (136,116)	$ (117,067)
Net loss per share attributable to Rocket Lab USA, Inc.:
Earnings Per Share, Basic	$ (0.38)	$ (0.29)	$ (0.56)
Earnings Per Share, Diluted	$ (0.38)	$ (0.29)	$ (0.56)
Weighted-average common shares outstanding:
Weighted Average Number of Shares Outstanding, Basic	481,768,060	466,214,095	209,895,135
Weighted Average Number of Shares Outstanding, Diluted	481,768,060	466,214,095	209,895,135

REVENUES (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Reconciliation of Disaggregation of Revenue

The following tables provide information about disaggregated revenue and a reconciliation of the disaggregated revenue during the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31, 2023
	Launch		Space
	Services		Systems		Total
Revenues by recognition model
Point-in-time	$	71,131	$	46,704	$	117,835
Over-time		763		125,994		126,757
Total revenue by recognition model	$	71,894	$	172,698	$	244,592

	Year Ended December 31, 2022
	Launch		Space
	Services		Systems		Total
Revenues by recognition model
Point-in-time	$	60,200	$	61,141	$	121,341
Over-time		485		89,170		89,655
Total revenue by recognition model	$	60,685	$	150,311	$	210,996

	Year Ended December 31, 2021
	Launch		Space
	Services		Systems		Total
Revenues by recognition model
Point-in-time	$	36,576	$	12,578	$	49,154
Over-time		2,395		10,688		13,083
Total revenue by recognition model	$	38,971	$	23,266	$	62,237

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


	December 31,
	2023			2022
Contract balances
Accounts receivable, net	$	35,176		$	36,572
Contract assets		12,951			9,451
Contract liabilities		(139,338	)		(108,344	)

Changes in Contract Liabilities

Changes in contract liabilities were as follows:


	2023			2022			2021
Contract liabilities, beginning of year	$	108,344		$	59,749		$	26,132
Contract liabilities assumed at acquisition		—			26,014			5,560
Customer advances received or billed		137,158			96,206			41,614
Recognition of unearned revenue		(106,164	)		(73,625	)		(13,557	)
Contract liabilities, end of year	$	139,338		$	108,344		$	59,749

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

As of December 31, 2023 and 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:


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market accounts	$	121,491	$	—	$	—	$	121,491
Marketable securities, current:
Certificates of deposit		—		24,590		—		24,590
Commercial paper		—		10,484		—		10,484
Corporate debt securities		—		41,871		—		41,871
Yankee bonds		—		2,676		—		2,676
U.S. Treasury securities		2,633		—		—		2,633
Marketable securities, non-current
Corporate debt securities		—		10,968		—		10,968
U.S. Treasury securities		54,900		—		—		54,900
Mortgage- and asset-backed securities		—		13,380		—		13,380
Total	$	179,024	$	103,969	$	—	$	282,993
Liabilities:
Other non-current liabilities:
Contingent consideration	$	—	$	—	$	1,056	$	1,056
Total	$	—	$	—	$	1,056	$	1,056


	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 years ended December 31, 2023 and 2022. There were no warrant liabilities measured at fair value using level three for the year ended December 31, 2023 and 2022. The change in the warrant liabilities measured at fair value using level three unobservable inputs is as follows for the year ended December 31, 2021:


Balance, at January 1, 2021		3,899
Cost of warrants vesting during the period		352
Change in fair value included in earnings		5,238
Exercise of warrants to purchase Legacy Rocket Lab Series C and D preferred stock		(6,514	)
Exchange of warrants to purchase Legacy Rocket Lab Series B preferred stock to common stock warrants		(2,975	)
Balance, at December 31, 2021	$	—

- 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

ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]

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 began 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.

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. The Company recognized a gain on sale of assets of $1,094.

As of December 31, 2023, the Company’s remaining helicopter continued to be classified as held for sale with a carrying amount of $9,016.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2023

Related Party Transactions

22.

RELATED PARTY TRANSACTIONS

There are three members of our board of directors that are affiliated with three separate entities that are invested in our common stock, two of which individually hold greater than 5% beneficial ownership. Each entity was granted one seat on our board which is filled by a partner of the affiliated entity. On September 14, 2018 and through subsequent closings, Rocket Lab sold an aggregate of 39,575,426 shares of its Series E convertible preferred stock for an aggregate purchase price of $137,739. In connection with this transaction, these entities acquired 3,028,345 of Series E convertible preferred stock for $10,539 and Rocket Lab entered into certain Amended and Restated Investors’ Rights Agreement, Amended and Restated Voting Agreement, and Amended and Restated First Refusal and Co-Sale Agreement with each of the purchasers of Rocket Lab’s Series E convertible preferred stock, and certain other Rocket Lab stockholders (collectively, the “Investor Agreements”). Such Investor Agreements were subsequently amended and restated in connection with Rocket Lab’s Series E-1 convertible preferred stock financing on May 18, 2020 whereby Rocket Lab sold an aggregate of 5,890,047 shares of its Series E-1 convertible preferred stock for an aggregate purchase price of $20,500. These entities with an affiliated director purchased 1,292,931 shares of Series E-1 convertible preferred stock for $4,499. In connection with the Business Combination, all of the convertible preferred stock was converted into shares of common stock.

As of December 31, 2023 and 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
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-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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-Name Accounting Standards Codification
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-Paragraph 5
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-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
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Goodwill and Intangible Assets, Net - Schedule of Estimated Future Amortization Expense Related to Finite Intangible Assets (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 12,323
2025	9,447
2026	9,256
2027	8,278
2028	7,322
Thereafter	19,168
Total	$ 65,794

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

17.

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 (Note 16).

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 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. As such, the Company recorded a provision for contract loss for this contract, of which $9,446 was recorded to other current liabilities in order to recognize the contract at fair value at acquisition.

The provision for contract losses outstanding as of December 31, 2023, which primarily is related to the solar panel module agreement, was $8,047 included in other current liabilities in the Company’s consolidated balance sheets.

Stock-based Compensation - Summary of Weighted-Average Assumptions (Detail)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Dividend rate	0.00%

Description Of The Business - Summary of Reconciles the Elements of the Business Combination to the Condensed Consolidated Statement (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cash			$ 310,330
Less: transaction costs and advisory fees paid			(49,075)
Net proceeds from Rocket Lab Business Combination			728,255
Less: Accrued transaction costs			(27)
Plus: Prepaid expenses assumed as part of Business Combination			219
Less: Warrants assumed as part of Business Combination	$ 0	$ 0	(48,149)
Less: Repurchase of Management Shares			(30,358)
Reverse recapitalization, net of transaction costs			649,940
Pipe Investment [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cash			$ 467,000

LOAN AGREEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

The future principal payments under the Loan Agreement as of December 31, 2023 were as follows:


2024	$	17,764
2025		18,969
2026		21,470
2027		24,301
2028		27,496
Total	$	110,000

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2023 and 2022:


	December 31,
	2023		2022
Cash and cash equivalents	$	162,518	$	242,515
Marketable securities, current		82,255		229,276
Marketable securities, non-current		79,247		9,193
Total cash and cash equivalents and marketable securities	$	324,020	$	480,984

Schedule of Cash Equivalents and Marketable Securities

As of December 31, 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	$	121,491	$	—	$	—		$	121,491	$	121,491	$	—
Certificates of deposit		24,580		12		(2	)		24,590		—		24,590
Commercial paper		10,480		6		(2	)		10,484		—		10,484
Corporate debt securities		52,860		28		(49	)		52,839		—		52,839
Yankee bonds		2,669		7		—			2,676		—		2,676
U.S. Treasury securities		57,841		—		(308	)		57,533		—		57,533
Mortgage- and asset-backed securities		13,349		39		(8	)		13,380		—		13,380
Total	$	283,270	$	92	$	(369	)	$	282,993	$	121,491	$	161,502

Summary of Cash Equivalents and Marketable Securities with Unrealized Losses

December 31, 2023:


	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	$	9,249	$	(2	)	$	—	$	—		$	9,249	$	(2	)
Commercial paper		2,867		(2	)		—		—			2,867		(2	)
Corporate debt securities		26,333		(38	)		1,239		(11	)		27,572		(49	)
U.S. Treasury securities		57,533		(308	)		—		—			57,533		(308	)
Mortgage- and asset-backed securities		2,177		(1	)		2,297		(7	)		4,474		(8	)
Total	$	98,159	$	(351	)	$	3,536	$	(18	)	$	101,695	$	(369	)

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 December 31, 2023:


	Amortized Cost		Fair Value
Due within one year	$	203,770	$	203,746
Due within one to two years		79,500		79,247
Total	$	283,270	$	282,993

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Commitments and Contingencies [Line Items]
Provision for contract loss	$ 8,047	$ 4,066
Other Current Liabilities [Member]
Commitments and Contingencies [Line Items]
Provision for contract loss	$ 9,446

Description Of The Business - Additional Information (Detail) $ / shares in Units, $ in Thousands			12 Months Ended
	May 31, 2022 shares	Aug. 25, 2021 USD ($) $ / shares shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares
Description Of The Business [Line Items]
Stock repurchased during period, value \| $					$ 30,358
Exercise of stock options (in Shares)			2,623,282	3,887,435	3,708,786
Exercise of stock options \| $					$ 3,122
Shares, outstanding		447,919,591
Common stock, share issued			488,923,055	475,356,517
Common stock, par value (in Dollars per share) \| $ / shares			$ 0.0001	$ 0.0001
Stockholders Equity Note, Stock Split,Exchange Ratio		9.059659
Vector Warrants [Member]
Description Of The Business [Line Items]
Number of securities called by each warrant or right		16,266,666
Exercise price of warrants or rights \| $ / shares		$ 11.50
Legacy Rocket Lab warrants [Member]
Description Of The Business [Line Items]
Number of securities called by each warrant or right		891,380
Exercise price of warrants or rights \| $ / shares		$ 0.29
Share Price Equal or Exceeds Twenty Rupees per dollar [Member]
Description Of The Business [Line Items]
Fair value per share of common stock \| $ / shares		$ 20.00
Issuance of stock for acquisition (in Shares)		32,150,757
Share Price Equal or Exceeds Twenty Rupees per dollar [Member] \| Minimum
Description Of The Business [Line Items]
Number of consecutive trading days for determining share price		20 days
Share Price Equal or Exceeds Twenty Rupees per dollar [Member] \| Maximum
Description Of The Business [Line Items]
Number of consecutive trading days for determining share price		30 days
Number of trading days for determining share price		30 days
Redeemable Convertible Preferred Stock [Member]
Description Of The Business [Line Items]
Shares, outstanding						283,843,764
Common Class A [Member]
Description Of The Business [Line Items]
Shares issued		31,031,383
Stock redeemed or called during period, shares		968,617
Common Class B [Member]
Description Of The Business [Line Items]
Shares issued		8,000,000
Post Combination Company [Member]
Description Of The Business [Line Items]
Fair value per share of common stock \| $ / shares		$ 10
Issuance of common stock under equity plans, (in Shares)		46,700,000
Common stock, share issued		46,700,000
Post Combination Company [Member] \| Common Class A [Member]
Description Of The Business [Line Items]
Exercise of stock options (in Shares)		968,617
Fair value per share of common stock \| $ / shares		$ 10.00
Exercise of stock options \| $		$ 9,686
Conversion of stock, shares converted		31,031,383
Post Combination Company [Member] \| Common Class B [Member]
Description Of The Business [Line Items]
Conversion of stock, shares converted		8,000,000
Post Combination Company Common Stock [Member]
Description Of The Business [Line Items]
Number of shares issued under share-based payment arrangement	1,915,356
Post Combination Company Common Stock [Member] \| Legacy Rocket Lab Options [Member]
Description Of The Business [Line Items]
Share-based compensation arrangement by share-based payment award		17,961,684
Share-based compensation arrangement by share-based payment award, per share weighted average price of shares purchased \| $ / shares		$ 1.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares		14,253,283
Post Combination Company Common Stock [Member] \| Restricted Stock Units (RSUs) [Member]
Description Of The Business [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		14,903,640
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee		4,065,304
Number of shares issued under share-based payment arrangement		1,915,356
Pipe Investment [Member]
Description Of The Business [Line Items]
Exercise of stock options \| $		$ 467,000
Legacy Rocket Lab Common Stock [Member]
Description Of The Business [Line Items]
Shares issued		362,188,208
Legacy Rocket Lab Common Stock [Member] \| Post Combination Company [Member]
Description Of The Business [Line Items]
Stock repurchased during period, value \| $		$ 40,000
Share-based compensation arrangement by share-based payment award		10,000,000
Share-based payment arrangement, plan modification, incremental cost \| $		$ 9,642
Legacy Rocket Lab Common Stock [Member] \| Post Combination Company [Member] \| Redeemable Convertible Preferred Stock [Member]
Description Of The Business [Line Items]
Shares Issued		362,188,208
Preferred stock, convertible, conversion ratio \| $ / shares		$ 9.059659

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

18.

INCOME TAXES

The components of the pretax loss for the years ended December 31, 2023, 2022 and 2021 were as follows:


	Years Ended December 31,
	2023			2022			2021
Domestic	$	(205,334	)	$	(186,121	)	$	(132,585	)
Foreign		26,413			53,175			7,745
Loss before provision for income taxes	$	(178,921	)	$	(132,946	)	$	(124,840	)

The provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021 were as follows:


	Years Ended December 31,
	2023			2022			2021
Current:
Federal	$	—		$	—		$	—
State		(18	)		(39	)		2
Foreign		3,270			3,802			2,377
Total current provision		3,252			3,763			2,379
Deferred:
Federal		114			(2,073	)		(5,957	)
State		452			(173	)		(339	)
Foreign		(168	)		1,481			(3,603	)
Total deferred provision		398			(765	)		(9,899	)
Provision (benefit) for income taxes	$	3,650		$	2,998		$	(7,520	)

The following is a reconciliation of the U.S. federal statutory federal income tax rate to our effective tax rate (in percentages):


	Years Ended December 31,
	2023			2022			2021
Federal statutory rate		21.0	%		21.0	%		21.0	%
Adjustments for tax effects of:
State taxes, net of federal benefit		3.2	%		8.3	%		1.2	%
Transaction costs		—	%		1.4	%		(0.2	)%
Permanent differences and other		0.4	%		(0.3	)%		(0.6	)%
Uncertain tax positions		(0.7	)%		(2.1	)%		—	%
Warrants		—	%		2.1	%		(1.9	)%
Stock-based compensation		(0.5	)%		6.5	%		1.9	%
Other adjustments to deferred taxes		1.7	%		—	%		—	%
Increase in valuation allowance		(27.1	)%		(39.2	)%		(15.4	)%
(Benefit) provision for income taxes		(2.0	)%		(2.3	)%		6.0	%

The significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows :


	December 31,
	2023			2022
Deferred tax assets:
Accrued expenses	$	2,434		$	2,031
Inventories		1,536			1,461
Deferred revenue		22,293			15,361
Lease liability		20,394			14,064
Stock compensation		4,428			5,341
Interest expense		4,291			4,039
Net operating losses		87,946			75,765
Tax credits		4,768			870
Reserves		2,298			4,285
Capitalized research		52,019			26,953
Other		462			885
Total deferred tax assets		202,869			151,055
Valuation allowance		(173,441	)		(125,033	)
Total deferred tax assets, net		29,428			26,022
Deferred tax liabilities:
Right of use asset		(19,232	)		(13,313	)
Depreciation and amortization		(6,402	)		(7,296	)
Other		(719	)		(1,609	)
Total deferred tax liabilities		(26,353	)		(22,218	)
Net deferred tax assets	$	3,075		$	3,804

A valuation allowance is recognized against deferred tax assets if it is more-likely-than-not that the deferred tax asset will not be realized. Because of the Company’s recent history of operating losses in the U.S., we have recorded a full valuation allowance against our U.S. deferred tax assets. As of December 31, 2023 and 2022, we recorded valuation allowances of $173,441 and $125,033, respectively. In 2023, the net increase in our valuation allowance primarily resulted from losses from operations.

For the years ending December 31, 2023 and 2022, the Company recorded a U.S. federal and state income tax benefit totaling $0 and $2,228, respectively, for the decrease in its valuation allowance relating to the acquisition of deferred tax liabilities in business combinations.

The 2017 Tax Act amended the Internal Revenue Code (the "Code"), effective for amounts paid or incurred in tax years beginning after December 31, 2021, to eliminate the immediate expensing of research and experimental expenditures (“R&E”) and require taxpayers to capitalize their R&E expenditures and software development costs. Capitalized costs are required to be amortized over five years (15 years for expenditures attributable to foreign research). Starting in 2022, we recorded a tax adjustment to capitalize and amortize R&E and software development costs. Due to the full valuation allowance against our U.S. deferred tax assets, the impact of this adjustment was immaterial.

The reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits for the years ended December 31, 2023 and 2022 is as follows:


	2023		2022
Balance at beginning of year	$	3,560	$	835
Increase related to prior year tax positions		—		1,121
Decrease related to prior year tax positions		—		(35	)
Increase related to current year tax position		1,327		1,639
Balance at end of year	$	4,887	$	3,560

As of December 31, 2023 and 2022, the Company has unrecognized tax benefits totaling $4,087 and $2,760, respectively, which, if recognized, would impact the effective tax rate in future periods.

As of December 31, 2023, the Company anticipates that $3,947 of uncertain tax positions will be settled in the next twelve months.

The Company recognizes interest and penalties related to uncertain tax positions as a component of the income tax provision. As of December 31, 2023 and 2022, there were no accrued interest and penalties.

Due to net operating loss (“NOL”) carryforwards, the U.S. federal and state returns are open to examination by the Internal Revenue Service and state jurisdictions for all years beginning with the year ended March 31, 2016. Our foreign subsidiaries are generally subject to examination within four years from the end of the tax year during which the tax return was filed. The years subject to audit may be extended if the entity substantially understates corporate income tax. The Company is not currently under examination by the IRS, foreign or state and local tax authorities.

At December 31, 2023 and 2022, the Company had federal NOL carryforwards of $352,000 and $317,164, respectively, which is comprised of definite and indefinite NOLs. The Company had definite federal NOL carryforwards of $57,135 as of December 31, 2023 and 2022, which begin to expire in varying amounts beginning in 2034. Federal NOLs generated after 2017 of $294,865 and $260,049 as of December 31, 2023 and 2022, respectively will carryforward indefinitely and are available to offset up to 80% of future taxable income each year. The Company also had state NOL carryforwards of $238,951 and $160,834 as of December 31, 2023 and 2022, respectively, available to reduce future taxable income, if any. If not realized, the state NOLs will begin to expire in varying amounts beginning in 2035.

Utilization of the net operating loss carryforwards may become subject to annual limitations due to ownership changes that could occur in the future as provided by Section 382 of the Internal Revenue Code of 1986, as amended, as well as similar state and foreign provisions. These ownership changes may limit the amount of the net operating loss and tax credit carryforwards that can be utilized annually to offset future taxable income. The Company has completed a Section 382 analysis through December 31, 2021 and determined that an ownership change occurred on August 23, 2013. No further ownership changes occurred through December 31, 2021. However, future ownership changes under Section 382 may limit the Company’s ability to fully utilize any remaining tax benefits.

As of December 31, 2023 and 2022, we have undistributed earnings of our foreign subsidiaries of $24,586 and $24,532, respectively, which we have indefinitely reinvested and for which we have not recognized deferred taxes. The amount of unrecognized deferred taxes associated with these unremitted earnings would not be significant at December 31, 2023 and 2022.

- 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

LOAN AGREEMENTS - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Dec. 29, 2023	Jun. 10, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Sep. 10, 2021	May 13, 2021	Dec. 23, 2020
Shares Issued And Outstanding [Line Items]
Loan and security agreement, maximum amount		$ 100,000
Borrowing capacity description			On December 29, 2023 (the “Effective Date”), the Company and certain of its subsidiaries (the “Subsidiaries”, together with the Company, the “Borrowers”), entered into a Master Equipment Financing Agreement (the “Loan Agreement”) with Trinity Capital, Inc., a Maryland corporation (the “Lender”) to provide financing for certain equipment and other property (the “Equipment”). The Loan Agreement provides that the Lender shall provide equipment financing in the aggregate of up to $120,000 (the “Conditional Commitment”), with advances (“Draws”) to be made as follows: (i) $70,000 on the Effective Date (the “Effective Date Draw”); and (ii) $40,000 to be drawn on the Effective Date (the “Blanket Lien Draw”), with each of the Effective Date Draw and Blanket Lien Draw payable over sixty (60) months beginning January 2024, with the final payments due in January 2029. After the Blanket Lien Draw is repaid in full, Borrowers may make Draws as follows: (x) $30,000 to be drawn in not more than three advances of at least $10,000 each at the Borrowers’ option no later than the date that is 18 months after the Effective Date; and (y) $20,000 to be drawn at Borrower’s option between January 1, 2025 and June 30, 2025 (such date, the “Termination Date”), subject to customary conditions.
Line of credit facility rate description			The monthly payment factors under the Loan Agreement and Blanket Lien Draw have a term of sixty (60) months and a rate factor of 0.022266.
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			$ 87,587	$ 100,043
Loss on extinguishment of long-term debt			1,732	0	$ 496
Long-Term Debt			110,000
Debt Issuance Costs, Net, Total			4,649
Current installments of long-term borrowings			$ 17,764	$ 2,906
Effective interest rate			14.40%
Term charge on repayment of debt			$ 700
Common Stock [Member]
Shares Issued And Outstanding [Line Items]
Class of warrant or right number of securities called by warrants or rights						305,981
Common Stock [Member] \| Blanket Lien Draw [Member]
Shares Issued And Outstanding [Line Items]
Class of warrant or right number of securities called by warrants or rights	728,835
Exercise price of warrants or rights	$ 4.87
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 bore (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 was accrued and added to the outstanding principal balance.
Repayment of term loan advance		$ 15,000
Term Loan Advances Aggregate Amount							$ 15,000
Equipment Financing Agreement [Member]
Shares Issued And Outstanding [Line Items]
Loan and security agreement, maximum amount	$ 120,000
Repayment of term loan advance			$ 30,000
Term Loan Advances Aggregate Amount			10,000
Equipment Financing Agreement [Member] \| Effective Date Draw [Member]
Shares Issued And Outstanding [Line Items]
Term Loan Advances Aggregate Amount	70,000		$ 20,000
Equipment Financing Agreement [Member] \| Blanket Lien Draw [Member]
Shares Issued And Outstanding [Line Items]
Term Loan Advances Aggregate Amount	$ 40,000
Loan and Security Agreement [Member]
Shares Issued And Outstanding [Line Items]
Loan and security agreement, maximum amount								$ 35,000
Loan and Security Agreement [Member] \| Common Stock [Member]
Shares Issued And Outstanding [Line Items]
Class of warrant or right number of securities called by warrants or rights								121,689
Exercise price of warrants or rights								$ 1.28

SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Summary of Information by Reportable Segment

The following table shows information by reportable segment for the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023				2022					2021
	Launch Services		Space Systems		Launch Services			Space Systems		Launch Services			Space Systems
Revenues	$	71,894	$	172,698	$	60,686		$	150,310	$	38,971		$	23,266
Cost of revenues		63,827		129,356		67,640			124,366		53,827			10,303
Gross profit (loss)	$	8,067	$	43,342	$	(6,954	)	$	25,944	$	(14,856	)	$	12,963

Goodwill and Intangible Assets, Net - Summary of Amortization Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 13,100	$ 13,227	$ 3,321
Cost of revenues [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	7,106	5,144	559
Research and Development [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	90	3,449	2,088
Selling, General and Administrative [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 5,904	$ 4,634	$ 674

Concentration of Credit Risk, Significant Customers and Geographic Information - Schedule of Total Revenue (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Northrop Grumman Space Systems [Member]
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	11.00%
MDA Corporation [Member]
Concentration Risk [Line Items]
Concentration risk percentage	21.00%	30.00%
Revenue [Member] \| Northrop Grumman Space Systems [Member]
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Revenue [Member] \| MDA Corporation [Member]
Concentration Risk [Line Items]
Concentration risk percentage	13.00%
Revenue [Member] \| Spaceflight Inc [member]
Concentration Risk [Line Items]
Concentration risk percentage			40.00%
Revenue [Member] \| OHB Cosmos International Launch Services GmbH [Member]
Concentration Risk [Line Items]
Concentration risk percentage			16.00%

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Deferred tax assets, valuation allowance	$ 173,441	$ 125,033
U.S. federal and state income tax benefit	0	2,228
Unrecognized tax benefits totaling	4,087	2,760
Uncertain tax positions	3,947
Operating loss carryforwards	$ 352,000	317,164	$ 57,135
Expiration year	2034
Undistributed Earnings of Foreign Subsidiaries	$ 24,586	$ 24,532
Indefinite Carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, description		80
Domestic Tax Authority \| Indefinite Carryforward
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	294,865	$ 260,049
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 238,951	$ 160,834
Expiration year	2035

CONCENTRATION OF CREDIT RISK, SIGNIFICANT CUSTOMERS AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Concentration Of Credit Risk, Significant Customers And Geographic Information

21.

CONCENTRATION OF CREDIT RISK, SIGNIFICANT CUSTOMERS AND GEOGRAPHIC INFORMATION

Concentration of Credit Risk and Significant Customers

The Company is subject to concentration of credit risk with respect to its cash, cash equivalents and accounts receivable. The Company maintains bank accounts in the United States and New Zealand and attempts to minimize by maintaining its cash, cash equivalents with major high credit quality financial institutions. From time to time cash balances held may exceed limits federally insured by the Federal Deposit Insurance Corporation. The Company has not experienced losses in such accounts and believes it is not exposed to any significant credit risk associated with these accounts.

The services provided by Rocket Lab are to U.S. Government and commercial customers. The Company has a significant concentration of credit risk associated with its accounts receivables that is solely based on the good faith and credit of the U.S. Government. We extend differing levels of credit to commercial customers, do not require collateral deposits, and, when necessary, maintain reserves for potential credit losses based upon the expected collectability of accounts receivable. We manage credit risk related to our customers by following credit approval processes, establishing credit limits, performing periodic evaluations of credit worthiness and applying other credit risk monitoring procedures.

As of December 31, 2023 and 2022, the Company’s customers that accounted for 10% or more of the total accounts receivable, net, were as follows:


	December 31,
	2023			2022
MDA Corporation		21	%		30	%
Northrop Grumman Space Systems		20	%		11	%

For the years ended December 31, 2023, 2022 and 2021, the Company’s customers that accounted for 10% or more of the total revenue were as follows:


	December 31,
	2023			2022	2021
Northrop Grumman Space Systems		13	%	*	*
MDA Corporation		13	%	*	*
Spaceflight Inc.	*			*		40	%
OHB Cosmos International Launch Services GmbH	*			*		16	%

* Revenue was less than 10%

Geographic Information

The Company’s consolidated revenues by geographic area based on customer billing location are as follows for the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023					2022					2021
	Amount		% of Total Revenues			Amount		% of Total Revenues			Amount		% of Total Revenues
United States	$	184,748		76	%	$	164,593		78	%	$	45,750		74	%
Canada		36,116		15	%		4,562		2	%		2,478		4	%
Germany		5,503		2	%		5,260		3	%		9,770		16	%
Rest of world		18,225		7	%		36,581		17	%		4,239		6	%
Total	$	244,592		100	%	$	210,996		100	%	$	62,237		100	%

Long-lived assets, which consists of property, plant and equipment, net, leased right-of-use assets, intangible assets, net and goodwill, by geographic area are as follows as of December 31, 2023 and 2022:


	December 31,
	2023					2022
	Amount		% of Long- Lived Assets			Amount		% of Long- Lived Assets
United States	$	308,718		86	%	$	246,901		81	%
New Zealand		45,575		13	%		53,188		18	%
Canada		4,618		1	%		2,990		1	%
Total	$	358,911		100	%	$	303,079		100	%

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Fair value of the assets acquired and the liabilities assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Property, plant and equipment	$ 0	$ 0	$ 219
Other non-current assets	18,914	7,303
Other non-current liabilities	3,944	$ 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 - Schedule of Stock-based Compensation Recorded in Consolidated Statements of Operations and Comprehensive Loss (Detail) - USD ($) $ in Thousands		12 Months Ended
	Aug. 25, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 9,642	$ 53,461	$ 55,649	$ 32,557
Cost of revenues [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense		12,521	17,948	10,996
Research and Development Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense		21,721	21,127	9,973
Selling, general and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense		$ 19,219	$ 16,574	$ 11,588

- 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 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

WARRANTS - Assumptions used in the Black-Sholes pricing model calculation for the Warrant issued (Details)	Dec. 31, 2023 USD ($)
Measurement Input, Share Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	5.53
Strike Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	4.87
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.82
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0385
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Term	4 years

Stock-based Compensation - Summary of Performance-based Restricted Stock Unit Activity (Detail) - Performance-based Restricted Stock Unit (PRSU) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Outstanding, beginning	16,686,217	16,946,922	11,831,055
Number of Units, Granted	11,269,200	14,455,901	6,542,426
Number of Units, Released	(8,887,903)	(13,264,758)
Number of Units, Forfeited	(2,729,675)	(1,451,848)	(1,426,559)
Number of Units, Outstanding, ending	16,337,839	16,686,217	16,946,922
Number of Units, Expected to vest	16,337,839	16,686,217	16,946,922
Weighted- Average Grant Date Fair Value, Outstanding, begininng	$ 5.94	$ 4.49	$ 1.33
Weighted- Average Grant Date Fair Value, Granted	4.76	5.97	9.68
Weighted- Average Grant Date Fair Value, Forfeited	6.01	6.33	2.1
Weighted- Average Grant Date Fair Value, Outstanding, ending	5.48	5.94	4.49
Weighted- Average Grant Date Fair Value, Expected to vest	$ 5.48	$ 5.94	$ 4.49

DESCRIPTION OF THE BUSINESS (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Standards Update and Change in Accounting Principle [Abstract]

Summary of reconciles the elements of the business combination to the condensed consolidated statement

The following table reconciles the elements of the Business Combination to the Consolidated Statement of Cash Flows and the Consolidated Statement of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) for the year ended December 31, 2021:


Cash - Vector Trust and cash, net of redemptions	$	310,330
Cash - PIPE Investment		467,000
Less: transaction costs and advisory fees paid		(49,075	)
Net proceeds from Rocket Lab Business Combination		728,255
Less: Accrued transaction costs		(27	)
Plus: Prepaid expenses assumed as part of Business Combination		219
Less: Warrants assumed as part of Business Combination		(48,149	)
Less: Repurchase of Management Shares		(30,358	)
Reverse recapitalization, net of transaction costs	$	649,940

NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

NET LOSS PER SHARE

19.

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 or the as-converted method, or two-class method for participating securities, whichever is more dilutive. Potentially dilutive shares are comprised of common stock warrants, restricted stock units and stock options. For the years ended December 31, 2023, 2022 and 2021, 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 years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023			2022			2021
Numerator
Net loss attributable to common stockholders-basic and diluted	$	(182,571	)	$	(135,944	)	$	(117,320	)
Denominator
Weighted average common shares outstanding-basic and diluted		481,768,060			466,214,095			209,895,135
Net loss per share attributable to common stockholders-basic and diluted	$	(0.38	)	$	(0.29	)	$	(0.56	)


	December 31,
	2023		2022		2021
Stock options and restricted stock units		26,889,125		29,943,937		34,292,250
Public and Private Warrants		728,835		—		16,264,516

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

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 97,957,602 shares of common stock as equity awards to participants under the 2021 Plan as of December 31, 2023. There were 82,961,729 shares of common stock available for grant as of December 31, 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 Date. Upon the consummation of the Business Combination, all outstanding stock options under the 2013 Plan, whether vested or unvested, were converted into options to purchase a number of shares of common stock of the Post Combination Company based on the Exchange Ratio, with a corresponding adjustment to the exercise price such that there was no change to the aggregate exercise price for the options. Similarly, upon consummation of the Business Combination, all outstanding restricted stock units under the 2013 Plan, whether vested or unvested, were converted into a number of restricted stock units of the Post Combination Company based on the Exchange Ratio. The 2013 Plan will continue to govern outstanding awards granted thereunder.

Total stock-based compensation recorded in the consolidated statements of operations and comprehensive loss during the years ended December 31, 2023, 2022 and 2021 consisted of the following:


	Years Ended December 31,
Stock-based compensation	2023		2022		2021
Cost of revenues	$	12,521	$	17,948	$	10,996
Research and development		21,721		21,127		9,973
Selling, general and administrative		19,219		16,574		11,588
Total stock-based compensation expense	$	53,461	$	55,649	$	32,557

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 December 31, 2023.

The following summarizes the stock option activity of the 2013 Plan for the years ended December 31, 2023, 2022 and 2021:


	Options to Purchase Common Stock			Weighted- Average Exercise Price per Share		Weighted- Average Grant Date Fair Value per Share		Weighted- Average Remaining Contract Life (In Years)		Aggregate Intrinsic Value
Outstanding — at January 1, 2021		22,088,726		$	1.03	$	0.53		7.12	$	85,853
Exercised		(3,708,786	)		1.00		0.51		4.32		41,822
Forfeited		(857,579	)		1.21		0.60		0.01		9,131
Expired		(177,033	)		1.16		0.31		—		1,969
Outstanding — at December 31, 2021		17,345,328		$	1.03	$	0.54		6.03	$	195,111
Exercised		(3,887,435	)		1.02		0.51		1.93		10,687
Forfeited		(200,173	)		1.22		0.71		—		510
Outstanding — at December 31, 2022		13,257,720		$	1.03	$	0.53		5.18	$	36,306
Exercised		(2,623,282	)		0.93		0.47		0.86		12,072
Forfeited		(7,556	)		1.42		0.78		—		31
Expired		(75,596	)		1.22		0.72		—		326
Outstanding — at December 31, 2023		10,551,286		$	1.06	$	0.53		4.32		47,210
Options vested and exercisable — at December 31, 2023		10,551,286		$	1.06	$	0.53		4.32	$	47,210
Options vested and exercisable — at December 31, 2022		13,185,026		$	1.03	$	0.53		5.18	$	36,134
Options vested and exercisable — at December 31, 2021		15,112,440		$	1.01	$	0.52		5.90	$	170,320

Restricted Stock Units — During the years ended December 31, 2023, 2022 and 2021, the Company granted 11,269,200, 14,455,901 and 6,542,426 performance-based restricted stock units and restricted stock units, respectively, to certain key employees pursuant to the 2013 Plan and 2021 Plan. Performance-based restricted stock units granted in 2021 are subject to both a time-based service vesting condition and a performance-based vesting condition, both of which must be satisfied before the restricted stock units will be deemed vested. The time-based service vesting condition is generally satisfied over periods of approximately four years as the employees provide service. The performance-based vesting condition is only satisfied upon a sale event (e.g., (i) liquidation of the Company, (ii) sale of all or substantially all of the assets of the Company, (iii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the surviving or resulting entity) or the Company’s initial public offering. The performance-based vesting condition was deemed to have been satisfied in connection with the Business Combination, and the performance-based restricted stock units granted in 2021, 2022 and 2023 are now vesting solely based on time.

Upon consummation of the Business Combination, it became probable that the performance condition for the performance-based restricted stock units would be satisfied. Accordingly, the Company recognized $26,987 of stock-based compensation expense related to these awards during the year ended December 31, 2021.

As of December 31, 2023, the total unrecognized compensation expense related to unvested performance-based restricted stock units granted under the 2013 Plan and 2021 Plan was $77,361 and will be recognized upon vesting.

The following summarizes the performance-based restricted stock unit activity of the Plan for the years ended December 31, 2023, 2022 and 2021:


	Number of Units			Weighted- Average Grant Date Fair Value
Outstanding — at January 1, 2021		11,831,055		$	1.33
Granted		6,542,426			9.68
Forfeited		(1,426,559	)		2.10
Outstanding — at December 31, 2021		16,946,922			4.49
Granted		14,455,901			5.97
Released		(13,264,758	)
Forfeited		(1,451,848	)		6.33
Outstanding — at December 31, 2022		16,686,217			5.94
Granted		11,269,200			4.76
Released		(8,887,903	)
Forfeited		(2,729,675	)		6.01
Outstanding — at December 31, 2023		16,337,839		$	5.48
Units expected to vest — at December 31, 2023		16,337,839		$	5.48
Units expected to vest — at December 31, 2022		16,686,217		$	5.94
Units expected to vest — at December 31, 2021		16,946,922		$	4.49

Management Redemption

In connection with the Business Combination, the Company modified 498,177 shares of common stock and vested options to purchase 558,769 shares of common stock held by certain members of management and obtained through stock-based compensation arrangements to provide for cash redemption, which resulted in a change from equity to liability classification for these shares and options. The Company redeemed these shares and options on August 25, 2021 for $10,000. The Company recognized the redemption amount in excess of the amounts previously recognized within additional paid-in capital for these awards as stock-based compensation expense. This resulted in the recognition of $9,642 of compensation expense associated with the redemption and an adjustment of approximately $359 to additional paid-in capital for stock compensation previously recognized related to these awards. In addition, on August 25, 2021, the Company redeemed 2,989,088 shares of common stock held by management for $30,000 as an adjustment to additional paid-in capital.

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 years ended December 31, 2023 and 2022, 1,369,604 and 1,106,958 shares of common stock were issued under the 2021 ESPP. No shares were issued under the 2021 ESPP during the year ended December 31, 2021. As of December 31, 2023, 16,768,828 shares remain available for issuance under the 2021 ESPP. Total ESPP stock-based compensation recorded in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2023, 2022 and 2021 was $2,399, $3,693 and $338, respectively. As of December 31, 2023, the total unrecognized compensation expense related to the 2021 ESPP was $1,774 and will be recognized over the remaining offering period.

Income Taxes - Schedule of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 0	$ 0	$ 0
State	(18)	(39)	2
Foreign	3,270	3,802	2,377
Total	3,252	3,763	2,379
Deferred:
Federal	114	(2,073)	(5,957)
State	452	(173)	(339)
Foreign	(168)	1,481	(3,603)
Total	398	(765)	(9,899)
(Benefit) Provision for income taxes	$ 3,650	$ 2,998	$ (7,520)

LOAN AGREEMENTS - Schedule of Future Principal Payments Under the Loan Agreement (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 17,764
2025	18,969
2026	21,470
2027	24,301
2028	27,496
Long-Term Debt, Total	$ 110,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating lease costs:
Operating lease costs	$ 7,164	$ 5,107	$ 3,356
Amortization of favorable lease	610	0	0
Total operating lease costs:	7,774	5,107	$ 3,356
Finance lease costs:
Depreciation of right-of-use assets	627	562
Interest on lease liabilities	967	900
Total finance lease costs	$ 1,594	$ 1,462

WARRANTS - Additional Information (Detail) - USD ($)			12 Months Ended
WARRANTS - Additional Information (Detail) - USD ($)	Jan. 31, 2022	Sep. 10, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 29, 2023	Dec. 22, 2021	Jul. 12, 2021	Dec. 31, 2016	Dec. 31, 2015
Class Of Warrant Or Right [Line Items]
Gain on fair value of exercise of warrants			$ 0	$ (13,482,000)	$ 15,294,000
Exchange of preferred stock warrants for common stock warrants					$ 2,975,000
Common Stock Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants and rights outstanding				$ 10,969
Warrants exercise price				$ 11.5
Public Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants and rights outstanding				$ 1,592,080
Warrants exercise price								$ 11.5
Number of securities called by each warrant or right			0	2,951,781
Class of warrant or right, date from which warrants or rights exercisable			Sep. 29, 2021
Class of warrant or right number of securities called by warrants or rights				10,383,077
Number of warrants issued				10,969
Cash proceeds from warrants issued	$ 27,000			$ 126,000
Warrants issued and outstanding	270,470
Warrant exercise price per share	$ 0.1
Private Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants issued and outstanding				5,600,000
Public Warrants and Private Warrants [Member]
Class Of Warrant Or Right [Line Items]
Gain on fair value of exercise of warrants				$ 13,482,000
Legacy Rocket Lab preferred stock warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants and rights outstanding									$ 6,514,000		$ 2,975,000
Warrants exercise price											$ 0.2
Class of warrant or right number of securities called by warrants or rights											305,981
Exchange of preferred stock warrants for common stock warrants			$ 1,466,000
Fair value of warrants						$ 2,433,000
Class of warrant or right, outstanding											305,981
Legacy Rocket Lab preferred stock warrants [Member] \| Series C Preferred Stock [Member]
Class Of Warrant Or Right [Line Items]
Warrants exercise price										$ 0.25
Class of warrant or right number of securities called by warrants or rights										118,591
Warrants to purchase vested						86,973
Legacy Rocket Lab preferred stock warrants [Member] \| Series D Preferred Stock [Member]
Class Of Warrant Or Right [Line Items]
Warrants exercise price										$ 2.1
Class of warrant or right number of securities called by warrants or rights										699,388
Warrants to purchase vested						512,885
Common Stock [Member]
Class Of Warrant Or Right [Line Items]
Class of warrant or right, date from which warrants or rights exercisable			Dec. 29, 2027
Class of warrant or right number of securities called by warrants or rights		305,981
Class of warrants and rights issued during the period		303,047
Common Stock [Member] \| Public Warrants [Member]
Class Of Warrant Or Right [Line Items]
Class of warrant or right number of securities called by warrants or rights			10,666,666				728,835
Common Stock [Member] \| Private Warrants [Member]
Class Of Warrant Or Right [Line Items]
Class of warrant or right number of securities called by warrants or rights			5,600,000
Common Stock [Member] \| Public Warrants and Private Warrants [Member]
Class Of Warrant Or Right [Line Items]
Warrants exercise price			$ 11.5				$ 4.87	$ 0.2843

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Supplemental Balance Sheet Information Related to Leases

16.

LEASES

The Company has operating and finance leases for properties, vehicles and equipment. The Company’s operating and finance leases have remaining lease terms of less than 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.

Supplemental balance sheet information related to leases as of December 31, 2023 and 2022 were as follows:


		December 31,
Liabilities	Presentation	2023		2022
Current:
Operating lease liabilities	Other current liabilities	$	5,276	$	3,388
Finance lease liabilities	Other current liabilities		329		336
Total lease liabilities, current			5,605		3,724
Non-current:
Operating lease liabilities	Non-current operating lease liabilities		56,099		34,266
Finance lease liabilities	Non-current finance lease liabilities		15,238		15,568
Total lease liabilities, non-current			71,337		49,834
Total lease liabilities		$	76,942	$	53,558

The Company does not separate non-lease components for the purposes of measuring our lease liabilities and assets. The components of lease expense were as follows during the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023		2022		2021
Operating lease costs:
Operating lease costs	$	7,164	$	5,107	$	3,356
Amortization of favorable lease		610		—		—
Total operating lease costs:	$	7,774	$	5,107	$	3,356
Finance lease costs:
Depreciation of right-of-use assets	$	627	$	562	$	—
Interest on lease liabilities		967		900		—
Total finance lease costs	$	1,594	$	1,462	$	—

Cash paid for amounts included in the measurement of lease liabilities:


	Years Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,581	$	4,558	$	3,051
Operating cash flows from finance leases		967		900		—
Finance cash flows from finance leases		336		271		—
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	30,396	$	9,140	$	3,916

The weighted average remaining lease term related to operating leases was 9.8 years and 10.0 years as of December 31, 2023 and 2022, respectively. The weighted average discount rate related to operating leases was 6.4% and 5.4% as of December 31, 2023 and 2022, respectively. The weighted average remaining lease term related to finance leases was 18.3 years and 19.1 years as of December 31, 2023 and 2022. The weighted average discount rate related to finance leases was 6.2% as of December 31, 2023 and 2022.

The following is a schedule of the future minimum operating and finance lease payments by year as of December 31, 2023:


	Operating Leases			Finance Leases
2024	$	8,985		$	1,278
2025		9,372			1,201
2026		9,366			1,231
2027		9,024			1,262
2028		8,095			1,293
Thereafter		38,375			20,824
Total lease payments		83,217			27,089
Less imputed interest		(21,842	)		(11,522	)
Total	$	61,375		$	15,567

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (182,571)	$ (135,944)	$ (117,320)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	29,744	29,947	10,851
Stock-based compensation expense	53,461	55,649	32,557
(Gain) loss on disposal of assets	(111)	923	156
Loss on extinguishment of long-term debt	1,732	0	496
Amortization of debt issuance costs and discount	2,904	2,827	1,546
Noncash lease expense	5,787	3,199	2,010
Noncash (income) expense associated with liability-classified warrants	0	(13,482)	15,294
Change in the fair value of contingent consideration	1,343	0	0
Accretion of marketable securities purchased at a discount	(4,571)	(1,395)	0
Deferred income taxes	708	(576)	(9,979)
Changes in operating assets and liabilities:
Accounts receivable, net	1,452	(9,430)	(7,789)
Contract assets	(3,501)	(7,545)	1,816
Inventories	(15,562)	(25,964)	(12,072)
Prepaids and other current assets	(14,586)	(15,059)	(10,504)
Other non-current assets	(11,470)	(7,072)	(4,548)
Trade payables	15,585	(2,129)	(4,517)
Accrued expenses	(3,275)	(3,518)	3,074
Employee benefits payables	5,484	2,108	(326)
Contract liabilities	30,992	22,661	28,057
Other current liabilities	(7,563)	1,280	838
Non-current lease liabilities	(5,076)	(3,686)	(1,801)
Other non-current liabilities	227	668	370
Net cash used in operating activities	(98,867)	(106,538)	(71,791)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, equipment and software	(54,707)	(42,412)	(25,699)
Proceeds on disposal of assets, net	3,660	0	0
Cash paid for business combinations and asset acquisitions, net of acquired cash and restricted cash	(18,966)	(65,824)	(66,435)
Purchases of marketable securities	(207,266)	(259,567)	0
Maturities of marketable securities	269,204	21,724	0
Sale of marketable securities	20,093	0	0
Net cash provided by (used in) investing activities	12,018	(346,079)	(92,134)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the exercise of stock options and public warrants	2,444	3,874	3,147
Proceeds from Employee Stock Purchase Plan	4,988	4,380	0
Proceeds from sale of employees restricted stock units to cover taxes	15,995	31,166	0
Minimum tax withholding paid on behalf of employees for restricted stock units	(15,722)	(31,164)	0
Tax payment for net settled option shares	0	(444)	0
Payment of contingent consideration	(1,000)	(5,500)	0
Finance lease principal payments	(336)	(271)	0
Proceeds from revolving line of credit	0	0	15,000
Proceeds from secured term loan	110,000	0	98,895
Repayments on secured term loan	(107,573)	0	0
Payment of debt issuance costs	1,427	0	0
Repayments on long-term revolving line of credit	0	0	(15,000)
Proceeds from Business Combination and PIPE Investment, net of transaction costs	0	0	728,255
Repurchase of shares and options from management, net of amount recognized as compensation cost	0	0	(30,358)
Net cash provided by financing activities	7,369	2,041	799,939
Effect of exchange rate changes on cash and cash equivalents	43	4,372	2,128
Net increase (decrease) in cash and cash equivalents and restricted cash	(79,437)	(446,204)	638,142
Cash and cash equivalents, and restricted cash, beginning of period	245,871	692,075	53,933
Cash and cash equivalents, and restricted cash, end of period	166,434	245,871	692,075
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	15,553	10,749	3,991
Cash refunds/(paid) for income taxes	769	(2,666)	(1,842)
Unpaid purchases of property, equipment and software	2,796	1,865	938
Right-of-use assets obtained in exchange for new operating lease liabilities	30,396	9,140	3,916
Early termination of right-of-use assets	664	0	0
Net exercise of public and private warrants into common stock	0	44,739	0
Issuance of common stock for payment of accrued bonus	0	1,441	0
Issuance of common stock warrants in connection with Loan Agreement	2,595	0	0
Warrants assumed as part of Business Combination	0	0	48,149
Contingent consideration assumed at acquisitions	0	0	7,300
Issuance of common stock in connection with acquisition, at fair value	2,087	0	11,568
Property, plant and equipment	0	0	219
Accrued issuance costs in connection with Loan Agreement	641	0	0
Unpaid transaction costs	$ 0	$ 0	$ 27

Fair Value Of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash equivalents:
Marketable securities, current	$ 82,255	$ 229,276
Marketable securities, non-current	79,247	9,193
Fair Value, Recurring [Member]
Cash equivalents:
Total	282,993	450,935
Other non-current liabilties:
Contingent consideration	1,056	1,800
Total	1,056	1,800
Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Total	179,024	241,621
Other non-current liabilties:
Contingent consideration	0	0
Total	0	0
Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Total	103,969	209,314
Other non-current liabilties:
Contingent consideration	0	0
Total	0	0
Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Total	0	0
Other non-current liabilties:
Contingent consideration	1,056	1,800
Total	1,056	1,800
Corporate Debt Securities [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		3,459
Marketable securities, current	41,871	62,316
Marketable securities, non-current	10,968	1,231
Corporate Debt Securities [Member] \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		0
Marketable securities, current	0	0
Marketable securities, non-current	0	0
Corporate Debt Securities [Member] \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		3,459
Marketable securities, current	41,871	62,316
Marketable securities, non-current	10,968	1,231
Corporate Debt Securities [Member] \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		0
Marketable securities, current	0	0
Marketable securities, non-current	0	0
Mortgage- and asset-backed securities \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, non-current	13,380	7,962
Mortgage- and asset-backed securities \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, non-current	0	0
Mortgage- and asset-backed securities \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, non-current	13,380	7,962
Mortgage- and asset-backed securities \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, non-current	0	0
Yankee Bonds [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	2,676	4,768
Yankee Bonds [Member] \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	0	0
Yankee Bonds [Member] \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	2,676	4,768
Yankee Bonds [Member] \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	0	0
Money Market Funds [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	121,491	204,027
Money Market Funds [Member] \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	121,491	204,027
Money Market Funds [Member] \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	0	0
Money Market Funds [Member] \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents	0	0
Certificates of Deposit [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	24,590	52,713
Certificates of Deposit [Member] \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	0	0
Certificates of Deposit [Member] \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	24,590	52,713
Certificates of Deposit [Member] \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	0	0
Commercial Paper [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		4,980
Marketable securities, current	10,484	71,885
Commercial Paper [Member] \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		0
Marketable securities, current	0	0
Commercial Paper [Member] \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		4,980
Marketable securities, current	10,484	71,885
Commercial Paper [Member] \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Cash equivalents		0
Marketable securities, current	0	0
US Treasury Securities [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	2,633	7,508
Marketable securities, non-current	54,900
US Treasury Securities [Member] \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	2,633	7,508
Marketable securities, non-current	54,900
US Treasury Securities [Member] \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	0	0
Marketable securities, non-current	0
US Treasury Securities [Member] \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current	0	0
Marketable securities, non-current	$ 0
U.S. government agency bonds \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current		30,086
U.S. government agency bonds \| Level 1 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current		30,086
U.S. government agency bonds \| Level 2 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current		0
U.S. government agency bonds \| Level 3 [Member] \| Fair Value, Recurring [Member]
Cash equivalents:
Marketable securities, current		$ 0

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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	488,923,055	475,356,517
Common stock, share outstanding	488,923,055	475,356,517

GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

11.

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The following table presents the changes in the carrying amount of goodwill for the Space Systems reportable segment for the years ended December 31, 2023 and 2022:


Balance at December 31, 2021	$	43,308
Acquisition		25,902
Measurement period adjustment		1,810
Balance at December 31, 2022		71,020
Balance at December 31, 2023	$	71,020

Intangible Assets

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


	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-Lived Intangible Assets
Developed Technology	$	56,065	$	(16,649	)	$	39,416
Capitalized software		11,690		(7,454	)		4,236
Customer relationships		16,135		(3,234	)		12,901
Trademarks and tradenames		10,106		(1,789	)		8,317
Backlog		3,491		(3,366	)		125
Other		1,222		(423	)		799
Indefinite-Lived Intangible Assets
In-process Technology		2,300		—			2,300
Total	$	101,009	$	(32,915	)	$	68,094


	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

Amortization expense recorded in the consolidated statements of operations and comprehensive loss during the years ended December 31, 2023, 2022 and 2021, respectively consisted of the following:


	Years Ended December 31,
	2023		2022		2021
Cost of revenues	$	7,106	$	5,144	$	559
Research and development		90		3,449		2,088
Selling, general and administrative		5,904		4,634		674
Total amortization expense	$	13,100	$	13,227	$	3,321

The following table outlines the estimated future amortization expense related to finite-lived intangible assets held as of December 31, 2023:


2024	$	12,323
2025		9,447
2026		9,256
2027		8,278
2028		7,322
Thereafter		19,168
Total	$	65,794

Concentration of Credit Risk, Significant Customers and Geographic Information - Schedule of Total Accounts Receivable Net (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
MDA Corporation [Member]
Concentration Risk [Line Items]
Concentration risk percentage	21.00%	30.00%
Northrop Grumman Space Systems [Member]
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	11.00%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%

Leases - Additional Information (Detail)	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	9 years 9 months 18 days	10 years
Operating Lease, Weighted Average Discount Rate, Percent	6.40%	5.40%
Finance Lease, Weighted Average Remaining Lease Term	18 years 3 months 18 days	19 years 1 month 6 days
Finance Lease, Weighted Average Discount Rate, Percent	6.20%	6.20%
Vehicles and Equipment [Member] \| Minimum
Lessee Lease Description [Line Items]
Lessee, operating lease, remaining lease term	1 year
Vehicles and Equipment [Member] \| Maximum
Lessee Lease Description [Line Items]
Lessee, operating lease, remaining lease term	27 years

Net Loss Per Share - Summary of Basic and Diluted net Loss Per Share Attributable to Common Stockholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to common shareholders-basic and diluted	$ (182,571)	$ (135,944)	$ (117,320)
Weighted average common shares outstanding-basic	481,768,060	466,214,095	209,895,135
Weighted average common shares outstanding-diluted	481,768,060	466,214,095	209,895,135
Net loss per share attributable to common stockholders-basic	$ (0.38)	$ (0.29)	$ (0.56)
Net loss per share attributable to common stockholders-diluted	$ (0.38)	$ (0.29)	$ (0.56)

- Definition

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

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+ Details

INVENTORIES

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

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


	December 31,
	2023		2022
Raw materials	$	45,062	$	33,376
Work in process		53,628		50,661
Finished goods		9,167		8,242
Total inventories	$	107,857	$	92,279

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 162,518	$ 242,515
Marketable securities, current	82,255	229,276
Accounts receivable, net	35,176	36,572
Contract assets	12,951	9,451
Inventories	107,857	92,279
Prepaids and other current assets	66,949	52,201
Assets held for sale	9,016	0
Total current assets	476,722	662,294
Non-current assets:
Property, plant and equipment, net	145,409	101,514
Intangible assets, net	68,094	79,692
Goodwill	71,020	71,020
Right-of-use assets - operating leases	59,401	35,239
Right-of-use assets - finance leases	14,987	15,614
Marketable securities, non-current	79,247	9,193
Restricted cash	3,916	3,356
Deferred income tax assets, net	3,501	3,898
Other non-current assets	18,914	7,303
Total assets	941,211	989,123
Current liabilities:
Trade payables	29,303	12,084
Accrued expenses	5,590	8,723
Employee benefits payable	16,342	8,634
Contract liabilities	139,338	108,344
Current installments of long-term borrowings	17,764	2,906
Other current liabilities	15,036	22,249
Total current liabilities	223,373	162,940
Non-current liabilities:
Long-term borrowings, excluding current installments	87,587	100,043
Non-current operating lease liabilities	56,099	34,266
Non-current finance lease liabilities	15,238	15,568
Deferred tax liabilities	426	95
Other non-current liabilities	3,944	3,005
Total liabilities	386,667	315,917
COMMITMENTS AND CONTINGENCIES (Note 17)
Stockholders' equity:
Common stock, $0.0001 par value; authorized shares: 2,500,000,000; issued and outstanding shares: 488,923,055 and 475,356,517 at December 31, 2023 and December 31, 2022, respectively	49	48
Additional paid-in capital	1,176,484	1,112,977
Accumulated deficit	(623,526)	(440,955)
Accumulated other comprehensive income	1,537	1,136
Total stockholders' equity	554,544	673,206
Total liabilities and stockholders equity	$ 941,211	$ 989,123

Fair Value Of Financial Instruments - Summary of Warrant Liabilities Measured at Fair Value (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Beginning balance	$ 3,899
Cost of warrants vesting during the period	352
Change in fair value included in earnings	$ 5,238
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Fair Value Adjustment of Warrants
Exercise of warrants to purchase Legacy Rocket Lab Series C and D preferred stock	$ (6,514)
Exchange of warrants to purchase Legacy Rocket Lab Series B preferred stock to common stock warrants	(2,975)
Ending balance	$ 0

CONCENTRATION OF CREDIT RISK, SIGNIFICANT CUSTOMERS AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Schedule of Total Accounts Receivable Net

As of December 31, 2023 and 2022, the Company’s customers that accounted for 10% or more of the total accounts receivable, net, were as follows:


	December 31,
	2023			2022
MDA Corporation		21	%		30	%
Northrop Grumman Space Systems		20	%		11	%

Schedules of Total Revenue

For the years ended December 31, 2023, 2022 and 2021, the Company’s customers that accounted for 10% or more of the total revenue were as follows:


	December 31,
	2023			2022	2021
Northrop Grumman Space Systems		13	%	*	*
MDA Corporation		13	%	*	*
Spaceflight Inc.	*			*		40	%
OHB Cosmos International Launch Services GmbH	*			*		16	%

Schedule of Consolidated Net Revenue by Geographic Area

The Company’s consolidated revenues by geographic area based on customer billing location are as follows for the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023					2022					2021
	Amount		% of Total Revenues			Amount		% of Total Revenues			Amount		% of Total Revenues
United States	$	184,748		76	%	$	164,593		78	%	$	45,750		74	%
Canada		36,116		15	%		4,562		2	%		2,478		4	%
Germany		5,503		2	%		5,260		3	%		9,770		16	%
Rest of world		18,225		7	%		36,581		17	%		4,239		6	%
Total	$	244,592		100	%	$	210,996		100	%	$	62,237		100	%

Schedule of Long-lived Assets by Geographic Area


	December 31,
	2023					2022
	Amount		% of Long- Lived Assets			Amount		% of Long- Lived Assets
United States	$	308,718		86	%	$	246,901		81	%
New Zealand		45,575		13	%		53,188		18	%
Canada		4,618		1	%		2,990		1	%
Total	$	358,911		100	%	$	303,079		100	%

Revenues - Balances Related to Enforceable Contracts (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Contract balances
Accounts receivable	$ 35,176	$ 36,572
Contract assets	12,951	9,451
Contract liabilities	$ (139,338)	$ (108,344)	$ (59,749)	$ (26,132)

Concentration of Credit Risk, Significant Customers and Geographic Information - Schedule of Consolidated Net Revenue by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Revenue	$ 244,592	$ 210,996	$ 62,237
Percentage of total revenue	100.00%	100.00%	100.00%
United States [Member]
Concentration Risk [Line Items]
Revenue	$ 184,748	$ 164,593	$ 45,750
Percentage of total revenue	76.00%	78.00%	74.00%
Canada [Member]
Concentration Risk [Line Items]
Revenue	$ 36,116	$ 4,562	$ 2,478
Percentage of total revenue	15.00%	2.00%	4.00%
Germany [Member]
Concentration Risk [Line Items]
Revenue	$ 5,503	$ 5,260	$ 9,770
Percentage of total revenue	2.00%	3.00%	16.00%
Rest of World [Member]
Concentration Risk [Line Items]
Revenue	$ 18,225	$ 36,581	$ 4,239
Percentage of total revenue	7.00%	17.00%	6.00%

- Definition

Amount, including 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

+ Details

Goodwill and Intangible Assets, Net - Schedule of Changes in the Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Begning Balance	$ 43,308
Acquisitions	25,902
Measurement period adjustment	1,810
Ending Balance	$ 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

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]

Supplemental balance sheet information related to leases as of December 31, 2023 and 2022 were as follows:


		December 31,
Liabilities	Presentation	2023		2022
Current:
Operating lease liabilities	Other current liabilities	$	5,276	$	3,388
Finance lease liabilities	Other current liabilities		329		336
Total lease liabilities, current			5,605		3,724
Non-current:
Operating lease liabilities	Non-current operating lease liabilities		56,099		34,266
Finance lease liabilities	Non-current finance lease liabilities		15,238		15,568
Total lease liabilities, non-current			71,337		49,834
Total lease liabilities		$	76,942	$	53,558

Components of Lease Expense

The components of lease expense were as follows during the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023		2022		2021
Operating lease costs:
Operating lease costs	$	7,164	$	5,107	$	3,356
Amortization of favorable lease		610		—		—
Total operating lease costs:	$	7,774	$	5,107	$	3,356
Finance lease costs:
Depreciation of right-of-use assets	$	627	$	562	$	—
Interest on lease liabilities		967		900		—
Total finance lease costs	$	1,594	$	1,462	$	—

Supplemental Cash Flow Information Related to Leases

Cash paid for amounts included in the measurement of lease liabilities:


	Years Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,581	$	4,558	$	3,051
Operating cash flows from finance leases		967		900		—
Finance cash flows from finance leases		336		271		—
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	30,396	$	9,140	$	3,916

Schedule of the future minimum operating and finance lease payments

The following is a schedule of the future minimum operating and finance lease payments by year as of December 31, 2023:


	Operating Leases			Finance Leases
2024	$	8,985		$	1,278
2025		9,372			1,201
2026		9,366			1,231
2027		9,024			1,262
2028		8,095			1,293
Thereafter		38,375			20,824
Total lease payments		83,217			27,089
Less imputed interest		(21,842	)		(11,522	)
Total	$	61,375		$	15,567

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS

ASI

On October 12, 2021, the Company completed the acquisition of Advanced Solutions, Inc. (“ASI”) pursuant to a membership interest purchase agreement (the “ASI Purchase Agreement”). ASI is an engineering company that develops flight software, simulation systems and guidance, navigation and control systems. ASI’s customers include agencies within the Defense Department, Air Force, NASA, other aerospace prime contractors, commercial spacecraft developers and space startups. ASI will be part of the Company’s Space Systems operating segment and continue to serve its current customers and support the Company’s Photon missions, spacecraft components, and space and ground software capabilities.

Acquisition Consideration

The acquisition-date consideration transferred consisted of cash of $29,935. The ASI Purchase Agreement also included an additional potential earn out payment of up to $5,500 based on achievement of certain performance metrics for the business in its fiscal year ending December 31, 2021. The contingent cash consideration was classified as a liability and included in accrued expenses on the Company’s consolidated balance sheet. To estimate the fair value of the contingent consideration liability, management valued the earn-out based on the likelihood of reaching targets contained in the ASI Purchase Agreement. At the acquisition date, the fair value of the contingent consideration payable was determined to be $5,500. The contingent consideration of $5,500 was paid on April 4, 2022.

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	$	2,245
Accounts receivable		1,920
Intangible assets		15,900
Employee benefits payable		(1,310	)
Other assets and liabilities, net		21
Identifiable net assets acquired		18,776
Goodwill		16,659
Total purchase price	$	35,435

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	7	$	11,400
In-process technology	N/A		300
Customer relationships	10		3,100
Trademark and tradenames	7		1,100
Total identifiable intangible assets acquired		$	15,900

Goodwill of $16,659 was recorded for the ASI 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. Goodwill is expected to be deductible for income tax purposes.

Compensation Arrangements

In connection with the acquisition, the Company deposited $12,015 with an escrow agent pursuant to the ASI Purchase Agreement for key ASI employees which was included in prepaid and other current assets and other non-current assets on the Company’s consolidated balance sheet. The employees had to be employed with the Company through each vesting date to be eligible to receive the performance reserve payments, and non-vested payments would be forfeited if employment with the Company ceases. The performance reserve vested quarterly beginning with January 1, 2022 through October 1, 2023. In addition, under the agreement, the Company made payments for a partial tax gross up. Due to the continuing employment requirement of the performance reserve, the costs associated with the performance reserve are recognized as post-combination compensation expense primarily recognized in operating expenses in the consolidated statements of operations and comprehensive loss.

The Company recognized $5,457, $7,579 and $1,895 in connection with the performance reserve payments during the years ended December 31, 2023, 2022 and 2021, respectively.

PSC

On November 30, 2021, the Company completed the acquisition pursuant to an Agreement and Plan of Merger (the “PSC Merger Agreement”), by and among the Company, Platinum Merger Sub, Inc. (“PSC Merger Sub”), Planetary Systems Corporation (“PSC”), and a shareholder representative, which provides for, among other things, the merger of PSC Merger Sub with and into PSC, with PSC being the surviving corporation of the merger and a direct, wholly owned subsidiary of the Company. Pursuant to the terms of the PSC Merger Agreement, all of the issued and outstanding shares of PSC were cancelled in exchange for aggregate consideration of $42,000 in cash, 1,720,841 shares of the Company’s common stock, and up to 956,023 shares of the Company’s common stock that are subject to a performance based earn-out, subject to customary adjustments at closing for cash, working capital, transaction expenses and indebtedness, and amounts held back by the Company (the “PSC Acquisition”). The PSC Merger Agreement contains representations, warranties and indemnification provisions customary for transactions of this kind. In connection with the PSC Acquisition, the Company has entered into customary offer letters or employment agreements with certain key employees of PSC.

Acquisition Consideration

The acquisition-date consideration transferred consisted of cash of $43,152, 729,375 shares of the Company’s common stock valued at $11,568 and holdback payable of $1,000. The purchase agreement also includes an additional potential earn out payment of up to 956,023 shares of the Company’s common stock based on achievement of certain performance metrics for the business in its fiscal year ending December 31, 2022 and 2023. The contingent consideration, to be paid in common stock, was classified as a liability and included in other non-current liabilities on the Company’s consolidated balance sheet. To estimate the fair value of the contingent consideration liability, management valued the earn-out based on the likelihood of reaching targets contained in the purchase agreement. At the acquisition date, the fair value of the contingent consideration payable was determined to be $1,800. On July 13, 2023, the Company paid out 314,324 shares of the Company’s common stock with a fair value of $2,087, in connection with the earn out for fiscal year ending December 31, 2022. At December 31, 2023, the fair value of the contingent consideration payable was determined to be $1,056.

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	$	3,655
Accounts receivable		2,543
Inventories		7,088
Intangible assets		33,000
Employee benefits payable		(1,212	)
Contract liabilities (1)		(5,218	)
Other current liabilities		(313	)
Non-current deferred tax liabilities		(8,219	)
Other assets and liabilities, net		935
Identifiable net assets acquired		32,259
Goodwill		25,261
Total purchase price	$	57,520

_________________________

(1) 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	8	$	23,500
In-process technology	N/A		1,500
Customer relationships	15		3,400
Backlog	1		400
Trademark and tradenames	15		4,200
Total identifiable intangible assets acquired		$	33,000

Goodwill of $25,261 was recorded for the PSC 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. None of the goodwill is expected to be deductible for income tax purposes.

Compensation Arrangements

In connection with the acquisition, the Company issued 1,720,841 shares of the Company’s common stock to the seller upon closing of the acquisition, of which 991,466 shares are held by key PSC employees. The shares were subject to a holdback agreement which restricted the transferability of the shares. The Company’s repurchase right lapsed in eight equal quarterly installments over the two-year period subsequent to the acquisition date as the seller continued to provide service as an employee, such that at the end of the two-year period following the acquisition date, the shares were fully transferable, and the Company no longer have a right to repurchase the shares. Therefore, the shares were accounted for as post-combination compensation expense for services as an employee over the two-year vesting period following the acquisition date. Due to the continuing employment requirement of the shares issued upon closing of the transaction and the earnout shares, the costs associated with the shares were recognized as post-combination compensation expense recognized in operating expenses in the consolidated statements of operations and comprehensive loss.

The Company recognized $6,433, $8,577 and $715 of stock-based compensation during the years ended December 31, 2023, 2022 and 2021 in connection with the holdback agreement shares, respectively.

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.

The Company recognized $427 of acquisition and integration related costs that were expensed for the year ended December 31, 2022. These costs are included in the consolidated statement of operations in the line item entitled “Selling, General and Administrative Expense.”

Measurement Period

During the measurement period, the Company continued to obtain information to assist in determining the fair value of net assets acquired, which may differ materially from these preliminary estimates. Measurement period adjustments, if applicable, were applied in the reporting period in which the adjustment amounts were determined. Measurement period changes for the ASI and PSC acquisitions did not have a material impact to the Consolidated Financial Statements for the year ended December 31, 2022. The Company made a SolAero measurement period adjustment in the fourth quarter of 2022 related to a provision for contract loss of $9,446, which was recorded to other current liabilities and goodwill.

Unaudited Pro Forma Information

The Company’s 2022 consolidated statement of operations includes revenues of $81,188 and operating loss of $12,533, related to the SolAero acquisition. The Company’s 2021 consolidated statement of operations includes revenues and operating loss of $6,617 and $3,877, respectively, related to the PSC and ASI acquisitions.

The unaudited consolidated financial information summarized in the following table gives effect to the 2022 and 2021 acquisitions assuming they occurred on January 1, 2021. These unaudited consolidated pro forma operating results do not assume any impact from revenue, cost or other operating synergies that are expected as a result of the acquisitions. These unaudited consolidated pro forma operating results are presented for illustrative purposes only and are not indicative of the operating results that would have been achieved had the acquisitions occurred on January 1, 2021, nor does the information project results for any future period.


Year Ended December 31,	As Reported			Acquisitions Pro-Forma (Unaudited)			Consolidated Pro-Forma (Unaudited)
2023
Revenues	$	244,592		$	—		$	244,592
Net loss		(182,571	)		—			(182,571	)
2022
Revenues	$	210,996		$	2,454		$	213,450
Net loss		(135,944	)		(1,062	)		(137,006	)
2021
Revenues	$	62,237		$	102,755		$	164,992
Net loss		(117,320	)		(7,139	)		(124,459	)

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

DESCRIPTION OF THE BUSINESS

12 Months Ended

Dec. 31, 2023

Accounting Standards Update and Change in Accounting Principle [Abstract]

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.

On August 25, 2021 (the “Closing Date”), the Company consummated the previously announced merger pursuant to that certain Agreement and Plan of Merger, dated March 1, 2021, and amended by Amendment No. 1 thereto, dated May 7, 2021 and Amendment No. 2 thereto, dated June 25, 2021 (the “Merger Agreement”), by and among the Company (formerly known as Vector Acquisition Corporation (“Vector”)), the pre-merger Rocket Lab USA, Inc., (“Legacy Rocket Lab”)) and Prestige USA Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Legacy Rocket Lab (“Merger Sub”). Vector filed a notice of deregistration and necessary accompanying documents with the Cayman Islands Registrar of Companies, and a certificate of incorporation and a certificate of corporate domestication with the Secretary of State of the State of Delaware, under which Vector was domesticated and continued as a Delaware corporation (the “Domestication”), changing its name to “Vector Acquisition Delaware Corporation” (“Vector Delaware”). As contemplated by the Merger Agreement, Merger Sub merged with and into Vector Delaware, with the separate corporate existence of Merger Sub ceasing and Vector Delaware being the surviving corporation and a wholly owned subsidiary of Legacy Rocket Lab (the “First Merger”) and immediately following the First Merger, Legacy Rocket Lab merged with and into Vector Delaware with Vector Delaware being the surviving corporation in the merger (the “Second Merger,” and, together with the First Merger and the Domestication, the “Business Combination”). The Business Combination was unanimously approved by the boards of directors of each of Vector and Legacy Rocket Lab.

In connection with the closing of the Business Combination, the Company changed its name from Vector Acquisition Corporation to Rocket Lab USA, Inc. The “Post Combination Company” following the Business Combination is Rocket Lab USA, Inc.

The Business Combination

On August 25, 2021, the Company consummated the Business Combination. The following occurred upon the Closing:

•

The Company repurchased $40,000 of Legacy Rocket Lab Common Stock and options to purchase Legacy Rocket Lab Common Stock from certain members Rocket Lab management. Of the total repurchase amount of $40,000, $10,000 was used to purchase shares and options earned by employees through share-based compensation and resulted in incremental compensation expense of $9,642.

•

The remaining outstanding shares of Legacy Rocket Lab common stock and redeemable convertible preferred stock were exchanged for 362,188,208 shares of common stock in the Post Combination Company, based on the exchange ratio of 9.059659.

•

Holders of 968,617 shares of Vector Class A Common Stock properly exercised their right to have such shares redeemed for a full pro rata portion of the trust account holding the proceeds from Vector’s initial public offering, calculated as of two business days prior to the consummation of the Business Combination, which was approximately $10.00 per share, or $9,686 in the aggregate. The remaining 31,031,383 shares of Vector Class A common stock automatically converted to an equal number of shares of common stock in the Post Combination Company.

•

The 8,000,000 shares of Vector Class B common stock automatically converted to an equal number of shares of common stock in the Post Combination Company.

•

Vector warrants that were outstanding and unexercised converted into an equal number of warrants to purchase common stock of the Post Combination Company.

•

Pursuant to subscription agreements entered into in connection with the Merger Agreement (collectively, the “Subscription Agreements”), certain investors agreed to subscribe for an aggregate of 46,700,000 newly-issued shares of common stock in the Post Combination Company at a purchase price of $10.00 per share for an aggregate purchase price of $467,000 (the “PIPE Investment”). The PIPE Investment was consummated substantially concurrently with the closing of the Business Combination.

In addition, if the closing price of the Post Combination Company common stock was equal to or greater than $20.00 for a period of at least 20 trading days out of 30 consecutive trading days during the period commencing on the 90th day following the Closing Date and ending on the 180th day following the Closing Date (the “Stock Price Target”), the holders of Legacy Rocket Lab’s equity securities, including options, warrants, restricted stock units and other rights to acquire stock of Legacy Rocket Lab, would have been entitled to receive an aggregate of 32,150,757 additional shares of the Post Combination Company common stock (the “Earnout Shares”), subject, in the case of holders of options, warrants, restricted stock units and other rights to acquire stock of Legacy Rocket Lab, to the terms of such options, warrants, restricted stock units and other rights. In evaluating the accounting treatment for the earnout, we concluded that the earnout was not a liability under Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity, was not subject to the accounting guidance under ASC 718, Compensation—Stock Compensation, and was not subject to derivative accounting under ASC 815, Derivative and Hedging. As such, the earnout is recognized in equity at fair value upon the closing of the Business Combination. On February 21, 2022, the Company’s common stock did not trade at equal to or greater than $20.00 for a period of at least 20 trading days out of 30 consecutive trading days during the Stock Price Target and the Company will not issue the Earnout Shares.

Immediately after giving effect to the Business Combination and the PIPE Financing, the following were outstanding: (i) 447,919,591 shares of Rocket Lab common stock, consisting of (a) 362,188,208 shares of Post Combination Company Common Stock issued to holders of Legacy Rocket Lab common stock and redeemable convertible preferred stock, (b) 31,031,383 shares issued to the holders of Vector’s Class A ordinary shares, which reflects the redemption of 968,617 Class A ordinary shares with respect to which holders exercised their redemption right, (c) 8,000,000 shares issued to the holders of Vector’s Class B ordinary shares, and (d) 46,700,000 shares of Post Combination Company common stock issued in the PIPE Investment; (ii) warrants to purchase 16,266,666 shares of Post Combination Company Common Stock at an exercise price of $11.50 per share issued upon conversion of the outstanding Vector warrants prior to the Business Combination; (iii) warrants to purchase 891,380 shares of Post Combination Company common stock attributable to Legacy Rocket Lab warrants prior to the Business Combination, which had a weighted average exercise price of approximately $0.29 per share, (iv) options to purchase 17,961,684 shares of Post Combination Company common stock attributable to Legacy Rocket Lab options prior to the Business Combination, which had a weighted average exercise price of $1.04 per share and 14,253,283 of which were vested, (v) 14,903,640 restricted stock units attributable to restricted stock units of Rocket Lab prior to the Business Combination, including 4,065,304 with respect to which the time-based vesting conditions had been satisfied and (vi) an earnout obligation of Legacy Rocket Lab prior to the Business Combination pursuant to which the Post Combination Company may be required to issue up to 1,915,356 shares of Post Combination Company common stock. On May 31, 2022, 1,915,356 shares of common stock were issued in connection with this earnout obligation.


Cash - Vector Trust and cash, net of redemptions	$	310,330
Cash - PIPE Investment		467,000
Less: transaction costs and advisory fees paid		(49,075	)
Net proceeds from Rocket Lab Business Combination		728,255
Less: Accrued transaction costs		(27	)
Plus: Prepaid expenses assumed as part of Business Combination		219
Less: Warrants assumed as part of Business Combination		(48,149	)
Less: Repurchase of Management Shares		(30,358	)
Reverse recapitalization, net of transaction costs	$	649,940

The Business Combination was accounted for as a reverse recapitalization in accordance with ASC 805, Business Combinations, with no goodwill or other intangible assets recorded. Under this method of accounting, Vector was treated as the “accounting acquiree” and Legacy Rocket Lab as the “accounting acquirer” for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Rocket Lab issuing shares for the net assets of Vector, followed by a recapitalization. The consolidated assets, liabilities, and results of operations of Legacy Rocket Lab comprise the historical financial statements of the Post Combination Company, and Vector’s assets, liabilities and results of operations are consolidated with Legacy Rocket Lab beginning on the acquisition date. Accordingly, for accounting purposes, the financial statements of the Post Combination Company represent a continuation of the financial statements of Legacy Rocket Lab, and the net assets of Vector are stated at historical cost, with no goodwill or other intangible assets recorded. This determination was primarily based on the following:

•

Legacy Rocket Lab stockholders considered in the aggregate have a majority interest of voting power in the Post Combination Company.

•

Members of Legacy Rocket Lab’s board of directors comprise five of the six members of the Post Combination Company’s board of directors as of the closing of the Business Combination.

•

Legacy Rocket Lab’s senior management continue to compose the senior management of the Post Combination Company

•

The relative size and valuation of Legacy Rocket Lab compared to Vector.

•

Legacy Rocket Lab’s business comprises the ongoing operations of the Post Combination Company.

In accordance with guidance applicable to these circumstances, the equity structure has been recast in all comparative periods up to the Closing Date to reflect the number of shares of the Company’s common stock, $0.0001 par value per share, issued to Legacy Rocket Lab’s stockholders in connection with the Business Combination. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Rocket Lab redeemable convertible preferred stock, common stock, warrants, options, and restricted stock units prior to the Business Combination have been retroactively recast as shares reflecting the Exchange Ratio of 9.059659 established in the Business Combination.

Post Combination Company common stock and warrants commenced trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the symbols “RKLB” and “RKLBW,” respectively, on August 25, 2021

Property, Plant and Equipment, Net - Schedule of Depreciation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Total depreciation expense	$ 15,407	$ 16,158	$ 7,530
Cost of revenues [Member]
Property Plant And Equipment [Line Items]
Total depreciation expense	8,481	12,867	4,608
Research and Development Expense
Property Plant And Equipment [Line Items]
Total depreciation expense	4,700	1,981	585
Selling, general and administrative
Property Plant And Equipment [Line Items]
Total depreciation expense	$ 2,226	$ 1,310	$ 2,337

WARRANTS

12 Months Ended

Dec. 31, 2023

Warrants and Rights Note Disclosure [Abstract]

WARRANTS

13.

WARRANTS

Equity Classified Common Stock Warrants

In connection with the Loan Agreement, the Company also issued to Lender a warrant (“Warrant”), dated December 29, 2023, to purchase up to 728,835 shares of the Company’s common stock, at an exercise price of $4.87 per share, payable in cash or on a cashless basis according to the formula set forth in the Warrant. The exercise price of the Warrant and the number of shares issuable upon exercise of the Warrant are subject to adjustments for stock splits, combinations, stock dividends or similar events. The Warrant is exercisable until December 29, 2027. The Warrant also provides for an automatic cashless exercise upon expiration if the value of one share of the Company’s common stock is greater than the exercise price of the warrant.

The warrants were classified as equity in accordance with ASC 480, Distinguishing Liabilities from Equity, as the agreements provide for the settlement of the instruments in shares of common stock. The proceeds from the Loan Agreement were allocated to the loan and warrants based on the relative fair value at inception, resulting in a reduction to the loan amount and amortized to interest expense over the term of the loan. The warrants are recognized as additional paid-in capital, a component of equity in the consolidated balance sheets.

The following assumptions were used in the Black-Sholes pricing model calculation for the Warrant issued:


Share price	$	5.53
Strike price	$	4.87
Expected volatility		82.0	%
Risk-free interest rate		3.85	%
Expected life (years)		4.0
Dividend rate	None

Liability Classified Preferred Stock Warrants

During 2015, the Company issued warrants to acquire 305,981 shares of Legacy Rocket Lab Series B Preferred Stock at an exercise price of approximately $0.20 per share at any given time during a period of ten years beginning on the instrument’s issuance date. The fair value of the warrants was $1,466 as of December 31, 2020. In connection with the Business Combination, these warrants were exchanged for warrants to acquire 305,981 shares of common stock at an exercise price of approximately $0.20 per share. Immediately prior to the exchange, the warrants were adjusted to current fair value of $2,975.

On September 10, 2021, all 305,981 common stock warrants were exercised on a net share basis, which resulted in the holders of the warrants receiving 303,047 shares of common stock.

During 2016, the Company issued warrants to acquire 118,591 shares and 699,388 shares of Legacy Rocket Lab Series C and D Preferred Stock, respectively, at an exercise price of $0.25 and $2.10 per share, respectively, as a sales incentive for entering into a development agreement with a current customer. The warrants vest as certain milestones within the development agreement are achieved and cost associated with the vesting of the warrants is recognized as a reduction in revenues within the condensed consolidated statements of operations and comprehensive loss as the related revenue is recognized. The cost associated with the remeasurement of the vested warrants to fair value is recognized within other (expense) income, net within the condensed consolidated statements of operations and comprehensive loss. As of December 31, 2020, warrants to purchase 86,973 shares of Legacy Rocket Lab Series C Preferred Stock and 512,885 shares of Legacy Rocket Lab Series D Preferred Stock were vested. The fair value of the vested warrants was $2,433 as of December 31, 2020.

On July 12, 2021, all of the warrants to purchase Legacy Rocket Lab Series C and D Preferred Stock were exercised into shares of Legacy Rocket Lab Series C and D Preferred Stock. The fair value of the warrants was $6,514 immediately prior to their exercise. The proceeds of the exercise of the warrants are reflected as equity in the condensed consolidated balance sheet as of December 31, 2021 within additional paid-in capital.

Public and Private Warrants

As part of the closing of 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 Post Combination 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, one year from the closing of the Vector initial public offering.

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 year ended December 31, 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 year ended December 31, 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 the year ended December 31, 2022.

WARRANTS (Tables)

12 Months Ended

Dec. 31, 2023

Warrants and Rights Note Disclosure [Abstract]

Schedule of Assumptions In Black-Sholes Pricing Model Calculation for the Warrant Issued

The following assumptions were used in the Black-Sholes pricing model calculation for the Warrant issued:


Share price	$	5.53
Strike price	$	4.87
Expected volatility		82.0	%
Risk-free interest rate		3.85	%
Expected life (years)		4.0
Dividend rate	None

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Pretax Loss From Domestic and Foreign Operations

The components of the pretax loss for the years ended December 31, 2023, 2022 and 2021 were as follows:


	Years Ended December 31,
	2023			2022			2021
Domestic	$	(205,334	)	$	(186,121	)	$	(132,585	)
Foreign		26,413			53,175			7,745
Loss before provision for income taxes	$	(178,921	)	$	(132,946	)	$	(124,840	)

Schedule of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021 were as follows:


	Years Ended December 31,
	2023			2022			2021
Current:
Federal	$	—		$	—		$	—
State		(18	)		(39	)		2
Foreign		3,270			3,802			2,377
Total current provision		3,252			3,763			2,379
Deferred:
Federal		114			(2,073	)		(5,957	)
State		452			(173	)		(339	)
Foreign		(168	)		1,481			(3,603	)
Total deferred provision		398			(765	)		(9,899	)
Provision (benefit) for income taxes	$	3,650		$	2,998		$	(7,520	)

The following is a reconciliation of the U.S. federal statutory federal income tax rate to our effective tax rate (in percentages):


	Years Ended December 31,
	2023			2022			2021
Federal statutory rate		21.0	%		21.0	%		21.0	%
Adjustments for tax effects of:
State taxes, net of federal benefit		3.2	%		8.3	%		1.2	%
Transaction costs		—	%		1.4	%		(0.2	)%
Permanent differences and other		0.4	%		(0.3	)%		(0.6	)%
Uncertain tax positions		(0.7	)%		(2.1	)%		—	%
Warrants		—	%		2.1	%		(1.9	)%
Stock-based compensation		(0.5	)%		6.5	%		1.9	%
Other adjustments to deferred taxes		1.7	%		—	%		—	%
Increase in valuation allowance		(27.1	)%		(39.2	)%		(15.4	)%
(Benefit) provision for income taxes		(2.0	)%		(2.3	)%		6.0	%

Schedule of Differences Between Federal Statutory Income Tax Rate and Provision for Income Taxes


	Years Ended December 31,
	2023			2022			2021
Federal statutory rate		21.0	%		21.0	%		21.0	%
Adjustments for tax effects of:
State taxes, net of federal benefit		3.2	%		8.3	%		1.2	%
Transaction costs		—	%		1.4	%		(0.2	)%
Permanent differences and other		0.4	%		(0.3	)%		(0.6	)%
Uncertain tax positions		(0.7	)%		(2.1	)%		—	%
Warrants		—	%		2.1	%		(1.9	)%
Stock-based compensation		(0.5	)%		6.5	%		1.9	%
Other adjustments to deferred taxes		1.7	%		—	%		—	%
Increase in valuation allowance		(27.1	)%		(39.2	)%		(15.4	)%
(Benefit) provision for income taxes		(2.0	)%		(2.3	)%		6.0	%

Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows :


	December 31,
	2023			2022
Deferred tax assets:
Accrued expenses	$	2,434		$	2,031
Inventories		1,536			1,461
Deferred revenue		22,293			15,361
Lease liability		20,394			14,064
Stock compensation		4,428			5,341
Interest expense		4,291			4,039
Net operating losses		87,946			75,765
Tax credits		4,768			870
Reserves		2,298			4,285
Capitalized research		52,019			26,953
Other		462			885
Total deferred tax assets		202,869			151,055
Valuation allowance		(173,441	)		(125,033	)
Total deferred tax assets, net		29,428			26,022
Deferred tax liabilities:
Right of use asset		(19,232	)		(13,313	)
Depreciation and amortization		(6,402	)		(7,296	)
Other		(719	)		(1,609	)
Total deferred tax liabilities		(26,353	)		(22,218	)
Net deferred tax assets	$	3,075		$	3,804

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

The reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits for the years ended December 31, 2023 and 2022 is as follows:


	2023		2022
Balance at beginning of year	$	3,560	$	835
Increase related to prior year tax positions		—		1,121
Decrease related to prior year tax positions		—		(35	)
Increase related to current year tax position		1,327		1,639
Balance at end of year	$	4,887	$	3,560

Inventories - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 45,062	$ 33,376
Work in process	53,628	50,661
Finished goods	9,167	8,242
Total inventories	$ 107,857	$ 92,279

Leases - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 6,581	$ 4,558	$ 3,051
Operating cash flows from finance leases	967	900	0
Finance Cash Flows From Finance Leases	336	271	0
Right-of-use assets obtained in exchange for lease obligations:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 30,396	$ 9,140	$ 3,916

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (182,571)	$ (135,944)	$ (117,320)

- Definition

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

+ References

+ Details

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Accrued expenses	$ 2,434	$ 2,031
Inventories	1,536	1,461
Deferred revenue	22,293	15,361
Lease liability	20,394	14,064
Stock compensation	4,428	5,341
Interest expense	4,291	4,039
Net operating losses	87,946	75,765
Tax credits	4,768	870
Reserves	2,298	4,285
Capitalized research	52,019	26,953
Other	462	885
Total deferred tax assets	202,869	151,055
Valuation allowance	(173,441)	(125,033)
Total deferred tax assets, net	29,428	26,022
Deferred tax liabilities:
Right of use asset	(19,232)	(13,313)
Depreciation and amortization	(6,402)	(7,296)
Other	(719)	(1,609)
Total deferred tax liabilities	(26,353)	(22,218)
Net deferred tax assets	$ 3,075	$ 3,804

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

23.

SUBSEQUENT EVENTS

Indenture and Notes

On February 6, 2024, the Company issued $355,000 aggregate principal amount of its 4.250% Convertible Senior Notes due 2029 (the “Notes”). The Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of February 6, 2024, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”). The Notes issued on February 6, 2024 include $55,000 principal amount of Notes issued pursuant to the full exercise by the initial purchasers of the Notes of their option to purchase additional Notes.

The Notes are the Company’s senior, unsecured obligations and are (i) equal in right of payment with the Company’s existing and future senior, unsecured indebtedness; (ii) senior in right of payment to the Company’s future indebtedness that is expressly subordinated to the Notes in right of payment; (iii) effectively subordinated to the Company’s existing and future secured indebtedness, including borrowings under its equipment financing agreement, to the extent of the value of the collateral securing that indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries.

The Notes accrue interest at a rate of 4.250% per annum, payable semi-annually in arrears on February 1 and August 1 of each year, beginning on August 1, 2024. The Notes mature on February 1, 2029, unless earlier converted, redeemed or repurchased. Before November 1, 2028, noteholders have the right to convert their Notes only upon the occurrence of certain events. From and after November 1, 2028, noteholders may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election. The initial conversion rate is 195.1029 shares of common stock per $1 principal amount of Notes, which represents an initial conversion price of approximately $5.13 per share of common stock. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events. In addition, if certain corporate events that constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time.

Capped Call Transactions

In connection with the pricing of the Notes, on February 1, 2024, the Company entered into privately negotiated capped call transactions (the “Base Capped Call Transactions”) with certain financial institutions (the “Option Counterparties”). On February 2, 2024, in connection with the initial purchasers’ exercise of their option to purchase additional Notes, the Company entered into additional capped call transactions with the Option Counterparties (the “Additional Capped Call Transactions” and, together with the Base Capped Call Transactions, the “Capped Call Transactions”). Collectively, the Capped Call Transactions cover, subject to customary adjustments, the number of shares of common stock initially underlying the Notes. The cost of the Capped Call Transactions was $43,168.

Trinity Capital Blanket Lien Draw Repayment

On February 8, 2024, the Company paid off all obligations under the Blanket Lien Draw in the amount of $38,778, which includes principal, unpaid interest and legal fees.

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands			12 Months Ended
	May 18, 2020	Sep. 14, 2018	Dec. 31, 2023	Dec. 31, 2022
Related Party Transactions Details [Line Items]
Related Party Transaction, Due from (to) Related Party			$ 0	$ 0
Series E preferred stock
Related Party Transactions Details [Line Items]
Aggregate shares		39,575,426
Issuance of redeemable preferred stock		$ 137,739
Series E preferred stock \| Affiliated Entity [Member]
Related Party Transactions Details [Line Items]
Issuance of redeemable preferred stock		$ 10,539
Issuance of redeemable preferred stock, (in Share)		3,028,345
Series E 1 preferred stock
Related Party Transactions Details [Line Items]
Issuance of redeemable preferred stock	$ 20,500
Issuance of redeemable preferred stock, (in Share)	5,890,047
Series E 1 preferred stock \| Affiliated Entity [Member]
Related Party Transactions Details [Line Items]
Issuance of redeemable preferred stock	$ 4,499
Issuance of redeemable preferred stock, (in Share)	1,292,931
Equity Interest Member
Related Party Transactions Details [Line Items]
Beneficial ownership percentage			5.00%

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Summary of Identifiable Intangible Assets Acquired and Related Expected Lives for the Finite-Lived Intangible Assets (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Advanced Solutions Inc [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets acquired	$ 15,900
Advanced Solutions Inc [Member] \| Developed Technology [Member]
Business Acquisition [Line Items]
Estimated Life in Years	7 years
Total identifiable intangible assets acquired	$ 11,400
Advanced Solutions Inc [Member] \| In-process Technology [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets acquired	$ 300
Advanced Solutions Inc [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated Life in Years	10 years
Total identifiable intangible assets acquired	$ 3,100
Advanced Solutions Inc [Member] \| Trademark and Tradenames [Member]
Business Acquisition [Line Items]
Estimated Life in Years	7 years
Total identifiable intangible assets acquired	$ 1,100
Planetary Systems Corporation [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets acquired	$ 33,000
Planetary Systems Corporation [Member] \| Developed Technology [Member]
Business Acquisition [Line Items]
Estimated Life in Years	8 years
Total identifiable intangible assets acquired	$ 23,500
Planetary Systems Corporation [Member] \| In-process Technology [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets acquired	$ 1,500
Planetary Systems Corporation [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated Life in Years	15 years
Total identifiable intangible assets acquired	$ 3,400
Planetary Systems Corporation [Member] \| Trademark and Tradenames [Member]
Business Acquisition [Line Items]
Estimated Life in Years	15 years
Total identifiable intangible assets acquired	$ 4,200
Planetary Systems Corporation [Member] \| Backlog [Member]
Business Acquisition [Line Items]
Estimated Life in Years	1 year
Total identifiable intangible assets acquired	$ 400
SolAero Holdings, Inc [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets acquired	$ 33,600
SolAero Holdings, Inc [Member] \| Developed Technology [Member]
Business Acquisition [Line Items]
Estimated Life in Years	13 years
Total identifiable intangible assets acquired	$ 10,700
SolAero Holdings, Inc [Member] \| In-process Technology [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets acquired	$ 800
SolAero Holdings, Inc [Member] \| Capitalized Software [Member]
Business Acquisition [Line Items]
Estimated Life in Years	3 years
Total identifiable intangible assets acquired	$ 5,400
SolAero Holdings, Inc [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated Life in Years	12 years
Total identifiable intangible assets acquired	$ 9,000
SolAero Holdings, Inc [Member] \| Trademark and Tradenames [Member]
Business Acquisition [Line Items]
Estimated Life in Years	12 years
Total identifiable intangible assets acquired	$ 4,700
SolAero Holdings, Inc [Member] \| Backlog [Member]
Business Acquisition [Line Items]
Estimated Life in Years	2 years
Total identifiable intangible assets acquired	$ 3,000

Income Taxes - Schedule of Reconciliation of Beginning and Ending Amount Of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Balance at beginning of year	$ 3,560	$ 835
Increase related to prior year tax positions	0	1,121
Decrease related to prior year tax positions	0	(35)
Increases related to current year tax position	1,327	1,639
Balance at end of year	$ 4,887	$ 3,560

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Remaining unsatisfied performance obligations	$ 1,046,126
Revenue recognized description	approximately 41% is expected to be recognized within 12 months, with the remaining 59% to be recognized beyond 12 months.
Other non-current assets	$ 18,914	$ 7,303
Customer financing interest income	371
Prepaid Expenses and Other Current Assets [Member]
Disaggregation of Revenue [Line Items]
Other non-current assets	3,733
Financing Receivable [Member]
Disaggregation of Revenue [Line Items]
Other non-current assets	$ 13,533
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

- 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

LOAN AGREEMENTS

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

LOAN AGREEMENTS

12.

LOAN AGREEMENTS

Trinity Master Equipment Financing Agreement

On December 29, 2023 (the “Effective Date”), the Company and certain of its subsidiaries (the “Subsidiaries”, together with the Company, the “Borrowers”), entered into a Master Equipment Financing Agreement (the “Loan Agreement”) with Trinity Capital, Inc., a Maryland corporation (the “Lender”) to provide financing for certain equipment and other property (the “Equipment”). The Loan Agreement provides that the Lender shall provide equipment financing in the aggregate of up to $120,000 (the “Conditional Commitment”), with advances (“Draws”) to be made as follows: (i) $70,000 on the Effective Date (the “Effective Date Draw”); and (ii) $40,000 to be drawn on the Effective Date (the “Blanket Lien Draw”), with each of the Effective Date Draw and Blanket Lien Draw payable over sixty (60) months beginning January 2024, with the final payments due in January 2029. After the Blanket Lien Draw is repaid in full, Borrowers may make Draws as follows: (x) $30,000 to be drawn in not more than three advances of at least $10,000 each at the Borrowers’ option no later than the date that is 18 months after the Effective Date; and (y) $20,000 to be drawn at Borrower’s option between January 1, 2025 and June 30, 2025 (such date, the “Termination Date”), subject to customary conditions.

The Company repaid the Hercules Capital Secured Term Loan (see below) with the proceeds from the Loan Agreement and Blanket Lien Draw. The monthly payment factors under the Loan Agreement and Blanket Lien Draw have a term of sixty (60) months and a rate factor of 0.022266. In connection with the Loan Agreement, the Company issued warrants to Lender to acquire 728,835 shares of the Company’s common stock at an exercise price of $4.87 per share (see Note 13).

As of December 31, 2023, there was $110,000 outstanding under the Loan Agreement, before unamortized discount and debt issuance costs of $4,649, of which $17,764 is classified as current in the Company’s consolidated balance sheets, with the remainder classified as long-term borrowing. As of December 31, 2023, the effective interest rate under the Loan Agreement was 14.4%. The Company is required to pay an end of term charge of $700 upon repayment of the Effective Date Draw.

The future principal payments under the Loan Agreement as of December 31, 2023 were as follows:


2024	$	17,764
2025		18,969
2026		21,470
2027		24,301
2028		27,496
Total	$	110,000

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 had a maturity date of June 1, 2024 and was secured by substantially all of the assets of the Company. Payments due for the term loan were interest-only until the maturity date with interest payable monthly in arrears. The outstanding principal bore (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 was accrued and added to the outstanding principal balance. Prepayment of the outstanding principal was permitted under the loan agreement and subject to certain prepayment fees. On June 10, 2021, in connection with the secured term loan, the Company paid an initial facility charge of $1,000. On December 29, 2023, the Company was required to pay an end of term charge of $3,250 upon repayment of the loan.

In connection with the $100,000 Hercules Capital Secured Term Loan, the Company repaid the $15,000 advance under the Revolving Line and Term Loan Line and terminated the Loan and Security Agreement (see below).

On December 29, 2023, a portion of the proceeds from the Effective Date Draw and the Blanket Lien Draw were used to pay off all obligations owing pursuant to the Hercules Capital Secured Term Loan, resulting in a loss on extinguishment of debt of $1,732 for the year ended December 31, 2023. The Hercules Capital Secured Term Loan was terminated.

Revolving Line and Term Loan Line

On December 23, 2020, the Company entered into a Loan and Security Agreement “(the Loan and Security Agreement”) with Silicon Valley Bank (“SVB”) for a maximum of $35,000 in financing and issued SVB warrants to purchase 121,689 shares of common stock at a price of $1.28 per share (see Note 13). The $35,000 could be drawn upon utilizing the Revolving Line and Term Loan Line (the “Revolving Line and Term Loan Line”) subject to certain terms and conditions. On May 13, 2021, the Company borrowed $15,000 as a Term Loan advance under its Loan and Security Agreement. On June 10, 2021, the Company repaid the $15,000 as a Term Loan advance under its Loan and Security Agreement upon funding of the Hercules Capital Secured Term Loan and the Revolving Line was closed.

- 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
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

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

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Revenues - Changes in Contract Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Abstract]
Contract liabilities, beginning of year	$ 108,344	$ 59,749	$ 26,132
Contract liabilities assumed at acquisition	0	26,014	5,560
Customer advances received or billed	137,158	96,206	41,614
Recognition of unearned revenue	(106,164)	(73,625)	(13,557)
Contract liabilities, end of year	$ 139,338	$ 108,344	$ 59,749

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

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

As of December 31, 2023 and 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:


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market accounts	$	121,491	$	—	$	—	$	121,491
Marketable securities, current:
Certificates of deposit		—		24,590		—		24,590
Commercial paper		—		10,484		—		10,484
Corporate debt securities		—		41,871		—		41,871
Yankee bonds		—		2,676		—		2,676
U.S. Treasury securities		2,633		—		—		2,633
Marketable securities, non-current
Corporate debt securities		—		10,968		—		10,968
U.S. Treasury securities		54,900		—		—		54,900
Mortgage- and asset-backed securities		—		13,380		—		13,380
Total	$	179,024	$	103,969	$	—	$	282,993
Liabilities:
Other non-current liabilities:
Contingent consideration	$	—	$	—	$	1,056	$	1,056
Total	$	—	$	—	$	1,056	$	1,056


	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

Summary of Warrant Liabilities Measured at Fair Value

The change in the warrant liabilities measured at fair value using level three unobservable inputs is as follows for the year ended December 31, 2021:


Balance, at January 1, 2021		3,899
Cost of warrants vesting during the period		352
Change in fair value included in earnings		5,238
Exercise of warrants to purchase Legacy Rocket Lab Series C and D preferred stock		(6,514	)
Exchange of warrants to purchase Legacy Rocket Lab Series B preferred stock to common stock warrants		(2,975	)
Balance, at December 31, 2021	$	—

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Summary of consolidated statement of operations includes revenues and net income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
As Reported [Member]
Business Acquisition [Line Items]
Revenues	$ 244,592	$ 210,996	$ 62,237
Net loss	(182,571)	(135,944)	(117,320)
Acquisitions Pro-Forma (Unaudited) [Member]
Business Acquisition [Line Items]
Revenues	0	2,454	102,755
Net loss	0	(1,062)	(7,139)
Consolidated Pro-Forma (Unaudited) [Member]
Business Acquisition [Line Items]
Revenues	244,592	213,450	164,992
Net loss	$ (182,571)	$ (137,006)	$ (124,459)

Cash and Cash Equivalents and Marketable Securities - Summary of Cash Equivalents and Marketable Securities with Unrealized Losses (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Marketable Securities [Line Items]
Fair Value - Less than 12 Months	$ 98,159
Unrealized Losses - Less than 12 Months	(351)
Fair Value - Greater than 12 Months	3,536
Unrealized Losses - Greater than 12 Months	(18)
Fair Value - Total	101,695
Unrealized Losses - Total	(369)
Corporate debt securities
Marketable Securities [Line Items]
Fair Value - Less than 12 Months	26,333
Unrealized Losses - Less than 12 Months	(38)
Fair Value - Greater than 12 Months	1,239
Unrealized Losses - Greater than 12 Months	(11)
Fair Value - Total	27,572
Unrealized Losses - Total	(49)
Mortgage- and asset-backed securities
Marketable Securities [Line Items]
Fair Value - Less than 12 Months	2,177
Unrealized Losses - Less than 12 Months	(1)
Fair Value - Greater than 12 Months	2,297
Unrealized Losses - Greater than 12 Months	(7)
Fair Value - Total	4,474
Unrealized Losses - Total	(8)
Certificates of deposit
Marketable Securities [Line Items]
Fair Value - Less than 12 Months	9,249
Unrealized Losses - Less than 12 Months	(2)
Fair Value - Greater than 12 Months	0
Unrealized Losses - Greater than 12 Months	0
Fair Value - Total	9,249
Unrealized Losses - Total	(2)
Commercial paper
Marketable Securities [Line Items]
Fair Value - Less than 12 Months	2,867
Unrealized Losses - Less than 12 Months	(2)
Fair Value - Greater than 12 Months	0
Unrealized Losses - Greater than 12 Months	0
Fair Value - Total	2,867
Unrealized Losses - Total	(2)
U.S. Treasury securities
Marketable Securities [Line Items]
Fair Value - Less than 12 Months	57,533
Unrealized Losses - Less than 12 Months	(308)
Fair Value - Greater than 12 Months	0
Unrealized Losses - Greater than 12 Months	0
Fair Value - Total	57,533
Unrealized Losses - Total	$ (308)

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Consolidated Statement of Operations Includes Revenues and Net Income

These unaudited consolidated pro forma operating results are presented for illustrative purposes only and are not indicative of the operating results that would have been achieved had the acquisitions occurred on January 1, 2021, nor does the information project results for any future period.


Year Ended December 31,	As Reported			Acquisitions Pro-Forma (Unaudited)			Consolidated Pro-Forma (Unaudited)
2023
Revenues	$	244,592		$	—		$	244,592
Net loss		(182,571	)		—			(182,571	)
2022
Revenues	$	210,996		$	2,454		$	213,450
Net loss		(135,944	)		(1,062	)		(137,006	)
2021
Revenues	$	62,237		$	102,755		$	164,992
Net loss		(117,320	)		(7,139	)		(124,459	)

Advanced Solutions Inc [Member]

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	$	2,245
Accounts receivable		1,920
Intangible assets		15,900
Employee benefits payable		(1,310	)
Other assets and liabilities, net		21
Identifiable net assets acquired		18,776
Goodwill		16,659
Total purchase price	$	35,435

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	7	$	11,400
In-process technology	N/A		300
Customer relationships	10		3,100
Trademark and tradenames	7		1,100
Total identifiable intangible assets acquired		$	15,900

Planetary Systems Corporation [Member]

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	$	3,655
Accounts receivable		2,543
Inventories		7,088
Intangible assets		33,000
Employee benefits payable		(1,212	)
Contract liabilities (1)		(5,218	)
Other current liabilities		(313	)
Non-current deferred tax liabilities		(8,219	)
Other assets and liabilities, net		935
Identifiable net assets acquired		32,259
Goodwill		25,261
Total purchase price	$	57,520

_________________________

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	8	$	23,500
In-process technology	N/A		1,500
Customer relationships	15		3,400
Backlog	1		400
Trademark and tradenames	15		4,200
Total identifiable intangible assets acquired		$	33,000

SolAero Holdings, Inc [Member]

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]

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

Income Taxes - Schedule of Pretax Loss from Domestic and Foreign Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
US loss before income taxes	$ (205,334)	$ (186,121)	$ (132,585)
Foreign income before income taxes	26,413	53,175	7,745
Loss before provision for income taxes	$ (178,921)	$ (132,946)	$ (124,840)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-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 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Fair Value Of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurements [Line Items]
Transfers between fair value measurement levels	$ 0	$ 0

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 194,519	$ 137,903
Less accumulated depreciation and amortization	(49,110)	(36,389)
Property, plant and equipment—net	145,409	101,514
Buildings and Improvements [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	59,730	36,493
Machinery, Equipment, Vehicles and Office Furniture [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	82,973	54,300
Computer Equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	11,624	7,517
Launch Site Assets [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	14,193	12,822
Construction In Process [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 25,999	$ 26,771

Concentration of Credit Risk, Significant Customers and Geographic Information - Additional Informatiion (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%
Revenue [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%
Concentration Risk, Percentage	Revenue was less than 10%

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) Segments	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policies Details [Line Items]
Restricted cash	$ 3,916	$ 3,356
Impairment of long-lived assets	0	0	$ 0
Impairment of goodwill	0	0	0
Other Assets, Noncurrent	$ 18,914	7,303
Percentage Of tax incentive reimburse	15.00%
Research and development, net	$ 119,054	65,168	41,765
Dividend rate	0.00%
Proceeds from research and development	$ 20,339	3,618	393
Share-based compensation arrangement description and terms	Forfeitures are recognized as incurred for as they occur. Unless otherwise approved, options must be exercised while the individual is an employee or within 90-days of termination when applicable. The expiration date of newly issued options is ten years after grant date unless earlier terminated as provided for in the Plan.
Number of operating segments \| Segments	2
Cost of revenues [Member] \| Employee Retention Credit [Member]
Summary Of Significant Accounting Policies Details [Line Items]
Accrued government grants	$ 2,130
Research and Development Expense
Summary Of Significant Accounting Policies Details [Line Items]
Government grant receivables	682
Accrued government grants	4,605	6,998	$ 2,563
Government Assistance Awards	1,810	4,433
Research and Development Expense \| Grant [Member]
Summary Of Significant Accounting Policies Details [Line Items]
Government grant receivables	5,417	1,443
Other Assets, Noncurrent	4,739	$ 5,873
Research and Development Expense \| Employee Retention Credit [Member]
Summary Of Significant Accounting Policies Details [Line Items]
Government grant receivables	3,841
Accrued government grants	631
Selling, general and administrative \| Employee Retention Credit [Member]
Summary Of Significant Accounting Policies Details [Line Items]
Accrued government grants	$ 1,080
Minimum
Summary Of Significant Accounting Policies Details [Line Items]
Finite-lived intangible asset useful life	1 year
Federal, state/local, and foreign effective rate	5.00%
Maximum
Summary Of Significant Accounting Policies Details [Line Items]
Finite-lived intangible asset useful life	20 years

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Property Plant and Equipment

The Company will depreciate over the useful lives as follows:


Asset Category		Estimated Useful Lives
Buildings and improvements		15 to 30 years
Machinery, equipment, vehicles and office furniture		2 to 12 years
Computer equipment, hardware and software		3 to 5 years
Launch site assets		3 to 15 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

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

Total stock-based compensation recorded in the consolidated statements of operations and comprehensive loss during the years ended December 31, 2023, 2022 and 2021 consisted of the following:


	Years Ended December 31,
Stock-based compensation	2023		2022		2021
Cost of revenues	$	12,521	$	17,948	$	10,996
Research and development		21,721		21,127		9,973
Selling, general and administrative		19,219		16,574		11,588
Total stock-based compensation expense	$	53,461	$	55,649	$	32,557

Summary of Stock Option Activity

The following summarizes the stock option activity of the 2013 Plan for the years ended December 31, 2023, 2022 and 2021:


	Options to Purchase Common Stock			Weighted- Average Exercise Price per Share		Weighted- Average Grant Date Fair Value per Share		Weighted- Average Remaining Contract Life (In Years)		Aggregate Intrinsic Value
Outstanding — at January 1, 2021		22,088,726		$	1.03	$	0.53		7.12	$	85,853
Exercised		(3,708,786	)		1.00		0.51		4.32		41,822
Forfeited		(857,579	)		1.21		0.60		0.01		9,131
Expired		(177,033	)		1.16		0.31		—		1,969
Outstanding — at December 31, 2021		17,345,328		$	1.03	$	0.54		6.03	$	195,111
Exercised		(3,887,435	)		1.02		0.51		1.93		10,687
Forfeited		(200,173	)		1.22		0.71		—		510
Outstanding — at December 31, 2022		13,257,720		$	1.03	$	0.53		5.18	$	36,306
Exercised		(2,623,282	)		0.93		0.47		0.86		12,072
Forfeited		(7,556	)		1.42		0.78		—		31
Expired		(75,596	)		1.22		0.72		—		326
Outstanding — at December 31, 2023		10,551,286		$	1.06	$	0.53		4.32		47,210
Options vested and exercisable — at December 31, 2023		10,551,286		$	1.06	$	0.53		4.32	$	47,210
Options vested and exercisable — at December 31, 2022		13,185,026		$	1.03	$	0.53		5.18	$	36,134
Options vested and exercisable — at December 31, 2021		15,112,440		$	1.01	$	0.52		5.90	$	170,320

Summary of Performance-based Restricted Stock Unit Activity

The following summarizes the performance-based restricted stock unit activity of the Plan for the years ended December 31, 2023, 2022 and 2021:


	Number of Units			Weighted- Average Grant Date Fair Value
Outstanding — at January 1, 2021		11,831,055		$	1.33
Granted		6,542,426			9.68
Forfeited		(1,426,559	)		2.10
Outstanding — at December 31, 2021		16,946,922			4.49
Granted		14,455,901			5.97
Released		(13,264,758	)
Forfeited		(1,451,848	)		6.33
Outstanding — at December 31, 2022		16,686,217			5.94
Granted		11,269,200			4.76
Released		(8,887,903	)
Forfeited		(2,729,675	)		6.01
Outstanding — at December 31, 2023		16,337,839		$	5.48
Units expected to vest — at December 31, 2023		16,337,839		$	5.48
Units expected to vest — at December 31, 2022		16,686,217		$	5.94
Units expected to vest — at December 31, 2021		16,946,922		$	4.49