As of Q4'25 (2025-12-31), RKLB reported an operating income of -51M USD, with a year-over-year change of +0.98%. This represents a slight improvement compared to the previous quarter, both in absolute value and in year-over-year growth. Over the period from Q1'23 to Q4'25, RKLB's operating income has remained negative, fluctuating between -38.9M USD and -59.6M USD. The trend shows some volatility, with a notable deterioration in losses from Q3'24 through Q2'25, reaching a peak loss of -59.6M USD in Q2'25. However, the year-over-year growth rate turned positive in Q1'24 and Q2'24, indicating temporary operational improvement, before reverting to negative territory for most of 2024 and 2025. The latest data suggests a modest recovery, with losses narrowing and YoY growth turning slightly positive by Q4'25.