As of Q4'25, Rocket Lab (RKLB) reported an Operating Cash Flow of -$64.53M and a Free Cash Flow of -$114.19M. Both metrics indicate a significant cash outflow in the latest quarter, with Free Cash Flow showing a particularly steep negative value. Over the period from Q1'23 to Q4'25, both Operating and Free Cash Flow have exhibited persistent negative values, reflecting ongoing cash burn. While there were quarters with some improvement—such as Q1'24 and Q4'24, where outflows narrowed—the overall trend is marked by volatility and a worsening cash position in the most recent quarters. The sharp declines in Q1'25 and Q4'25 suggest increased operational and capital expenditures, raising concerns about the company’s cash sustainability over time.