XML 11 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2019
Current assets      
Cash $ 44,846 $ 865,903  
Prepaid expenses 284,625 366,647  
Total current assets 329,471 1,232,550  
Non-Current Assets:      
Investment held in Trust Account 320,014,519 320,004,846  
Total Assets 320,343,990 321,237,396  
Current liabilities:      
Accrued expenses 2,390,012 217,395  
Total current liabilities 2,390,012 217,395  
Non-Current liabilities:      
Warrant liabilities 46,116,001 24,562,667  
Deferred underwriting fee payable 11,200,000 11,200,000  
Total liabilities 59,706,013 35,980,062  
Redeemable convertible preferred stock      
Class A ordinary shares subject to possible redemption 320,000,000 280,257,330  
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 0 0  
Additional paid-in capital 0 17,340,758  
Accumulated deficit (59,362,823) (12,341,951)  
Total shareholders' Equity (deficit) (59,362,023) 5,000,004  
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 320,343,990 321,237,396  
Series A Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   5,500,000 $ 5,500,000
Series B Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   21,503,000 21,503,000
Series C Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   16,471,000 16,471,000
Series D Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   73,364,000 73,364,000
Series E preferred stock      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   137,622,000 137,622,000
Series E 1 preferred stock      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   20,500,000 0
Common Class A [Member]      
Redeemable convertible preferred stock      
Class A ordinary shares subject to possible redemption   280,257,330  
Shareholders' Equity (deficit)      
Common stock, value 0 397  
Total shareholders' Equity (deficit)   397  
Common Class B [Member]      
Shareholders' Equity (deficit)      
Common stock, value 800 800  
Total shareholders' Equity (deficit) 800 800  
Rocket Lab USA, Inc.      
Current assets      
Cash 107,931,000 52,792,000 95,878,000
Accounts receivable, net 22,355,000 2,730,000 1,185,000
Prepaid expenses 2,370,000 2,628,000 833,000
Contract assets 843,000 2,045,000 7,064,000
Inventories 31,516,000 26,135,000 14,157,000
Prepaids and other current assets 4,925,000 9,412,000 6,346,000
Total current assets 167,570,000 93,114,000 124,630,000
Non-Current Assets:      
Property, plant and equipment, net 51,220,000 49,832,000 36,193,000
Intangible asset, net 10,689,000 11,349,000 1,329,000
Goodwill 3,277,000 3,133,000 0
Right-of-use assets - operating leases 25,712,000 26,902,000 26,608,000
Right-of-use assets - finance leases   0 2,924,000
Restricted cash 1,110,000 1,141,000 1,816,000
Deferred tax assets 2,935,000 2,398,000 1,685,000
Deferred transaction costs 3,395,000    
Total Assets 265,908,000 187,869,000 195,185,000
Current liabilities:      
Trade payables 3,620,000 3,368,000 6,460,000
Accrued expenses 5,026,000 6,571,000 3,567,000
Employee benefits payable 5,238,000 4,582,000 3,045,000
Contract liabilities 31,138,000 26,132,000 10,211,000
Finance lease liabilities   0 2,246,000
Other current liabilities 6,832,000 7,766,000 6,415,000
Total current liabilities 51,854,000 48,419,000 31,944,000
Non-Current liabilities:      
Long-term borrowings, excluding current installments 98,827,000    
Non-current lease liabilities 25,916,000 27,299,000 26,025,000
Other non-current liabilities 9,381,000 3,899,000 1,285,000
Total liabilities 185,978,000 79,617,000 59,254,000
Shareholders' Equity (deficit)      
Common stock, value   0 0
Additional paid-in capital 23,079,000 19,928,000 14,236,000
Accumulated deficit (220,238,000) (187,691,000) (132,686,000)
Accumulated other comprehensive loss 2,129,000 1,055,000 (79,000)
Total shareholders' Equity (deficit) (195,030,000) (166,708,000) (118,529,000)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 265,908,000 187,869,000 $ 195,185,000
Rocket Lab USA, Inc. | Series A Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 5,500,000 5,500,000  
Rocket Lab USA, Inc. | Series B Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 21,503,000 21,503,000  
Rocket Lab USA, Inc. | Series C Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 16,471,000 16,471,000  
Rocket Lab USA, Inc. | Series D Preferred Stock [Member]      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 73,364,000 73,364,000  
Rocket Lab USA, Inc. | Series E preferred stock      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 137,622,000 137,622,000  
Rocket Lab USA, Inc. | Series E 1 preferred stock      
Shareholders' Equity (deficit)      
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding $ 20,500,000 $ 20,500,000