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Rocket Lab vs Voyager Technologies: revenue, profit, margins and growth compared

Rocket Lab brought in $601.8M of revenue in fiscal 2025, Voyager Technologies $166.4M in fiscal 2025. Revenue changed by +38.0% at Rocket Lab and +15.4% at Voyager Technologies on the year before, so Rocket Lab grew faster. Rocket Lab kept -32.9% of its revenue as net profit, Voyager Technologies -63.0%. Free cash flow was -$321.8M at Rocket Lab and -$205.6M at Voyager Technologies.

Side by side, latest fiscal year

RKLBVOYG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$601.8M$166.4M
Revenue growth+38.0%+15.4%
Net income-$198.2M-$104.8M
Net margin-32.9%-63.0%
Free cash flow-$321.8M-$205.6M
Free cash flow margin-53.5%-123.6%
Earnings per share (diluted)-$0.37-$2.89
Cash$828.7M$491.3M
Debt$152.4Mn/a
Price to earningsn/an/a
Market value$44.3B$1.9B
Dividend yieldn/an/a
Rank by revenue in sector#304 of 451 · Industrials#364 of 451 · Industrials

Over the years

Revenue
RKLB FY2020: $35.2MRKLB FY2021: $62.2MRKLB FY2022: $211MRKLB FY2023: $244.6MRKLB FY2024: $436.2MRKLB FY2025: $601.8MVOYG FY2023: $136.1MVOYG FY2025: $144.2MVOYG FY2025: $166.4MFY20FY21FY22FY23FY24FY25
RKLB $601.8MVOYG $166.4M
Net income
RKLB FY2020: -$55MRKLB FY2021: -$117.3MRKLB FY2022: -$135.9MRKLB FY2023: -$182.6MRKLB FY2024: -$190.2MRKLB FY2025: -$198.2MVOYG FY2023: -$25.4MVOYG FY2025: -$62.1MVOYG FY2025: -$104.8MFY20FY21FY22FY23FY24FY25
RKLB -$198.2MVOYG -$104.8M
Net margin
RKLB FY2020: -156.4%RKLB FY2021: -188.5%RKLB FY2022: -64.4%RKLB FY2023: -74.6%RKLB FY2024: -43.6%RKLB FY2025: -32.9%VOYG FY2023: -18.7%VOYG FY2025: -43.1%VOYG FY2025: -63.0%FY20FY21FY22FY23FY24FY25
RKLB -32.9%VOYG -63.0%
Revenue growth
RKLB FY2021: +77.0%RKLB FY2022: +239.0%RKLB FY2023: +15.9%RKLB FY2024: +78.3%RKLB FY2025: +38.0%VOYG FY2025: +6.0%VOYG FY2025: +15.4%FY21FY22FY23FY24FY25
RKLB +38.0%VOYG +15.4%
Free cash flow
RKLB FY2020: -$52.9MRKLB FY2021: -$97.5MRKLB FY2022: -$149MRKLB FY2023: -$153.6MRKLB FY2024: -$116MRKLB FY2025: -$321.8MVOYG FY2023: -$32.6MVOYG FY2025: -$108.2MVOYG FY2025: -$205.6MFY20FY21FY22FY23FY24FY25
RKLB -$321.8MVOYG -$205.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Rocket Lab and Voyager Technologies

Which is bigger by revenue, Rocket Lab or Voyager Technologies?

Rocket Lab is bigger by revenue: $601.8M in fiscal 2025, against $166.4M for Voyager Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Rocket Lab or Voyager Technologies?

Rocket Lab had a net margin of -32.9% in fiscal 2025; Voyager Technologies had -63.0% in fiscal 2025.

Which grew revenue faster, Rocket Lab or Voyager Technologies?

In their latest fiscal years revenue changed by +38.0% at Rocket Lab and +15.4% at Voyager Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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