As of Q4'25, Rocket Lab (RKLB) reported Cash & Short-term Investments of USD 1B and Debt of USD 252M. This marks a significant increase in cash reserves alongside a notable reduction in debt compared to previous quarters. From Q1'23 to Q4'25, the company’s cash position showed a steady decline until Q4'23, followed by a sharp rise starting in Q1'24, peaking at USD 1B in Q4'25. Debt levels remained relatively stable and elevated from Q1'24 through Q3'25, before dropping sharply in Q4'25. The overall trend indicates improved liquidity and a strengthened balance sheet by the end of the period, with the most pronounced positive shift occurring in the final quarter.