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Consolidated Statements of Cash Flows - USD ($)
5 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities          
Net loss $ (12,341,951) $ (24,619,357)      
Adjustments to reconcile net (loss) to net cash used in operating activities:          
Interest earned on investment held in Trust Account (4,846) (9,673)      
Change in fair value of warrant liabilities 11,989,334 21,553,334      
Changes in operating assets and liabilities:          
Prepaid expenses (366,647) 82,022      
Accrued expenses 217,395 2,172,617      
Net cash used in operating activities (506,715) (821,057)      
Cash flows from investing activities          
Investment of cash in Trust Account (320,000,000)        
Net cash used in investing activities (320,000,000)        
Cash flows from financing activities          
Proceeds from sale of Units, net of underwriting discounts paid 313,600,000        
Proceeds from sale of Private Placement Warrants 8,400,000        
Proceeds from promissory note — related party 300,000        
Repayment of promissory note — related party (300,000)        
Payments of offering costs (627,382)        
Net cash provided by (used in) financing activities 321,372,618        
Net (decrease) increase in cash and cash equivalents and restricted cash 865,903 (821,057)      
Cash — Beginning   865,903      
Cash — Ending 865,903 44,846   $ 865,903  
Non-Cash Investing and Financing Activities:          
Initial classification of Class A ordinary shares subject to possible redemption 291,793,080        
Change in value of Class A ordinary shares subject to possible redemption (11,535,750) 39,742,670      
Initial classification of warrant liability 12,573,333        
Deferred underwriting fee payable 11,200,000        
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares 25,000        
Forfeiture of Founder Shares (68)        
Rocket Lab USA, Inc.          
Cash flows from operating activities          
Net loss   (32,547,000) $ (23,453,000) (55,005,000) $ (30,360,000)
Adjustments to reconcile net (loss) to net cash used in operating activities:          
Depreciation and amortization   4,847,000 3,663,000 9,339,000 4,872,000
Amortization of deferred debt costs   149,000      
Stock compensation expense   2,379,000 1,923,000 4,218,000 3,930,000
Loss on disposal of assets   55,000 3,451,000 1,473,000  
Loss on extinguishment of long-term debt   496,000      
Noncash lease expense   997,000 1,532,000 1,533,000 2,164,000
Noncash expense associated with preferred stock warrants   5,478,000 (137,000) 2,615,000 88,000
Deferred income tax expense   (612,000) (459,000) (713,000) (618,000)
Changes in operating assets and liabilities:          
Accounts receivable   (19,580,000) (5,794,000) (522,000) 6,907,000
Contract assets   1,201,000 4,707,000 5,019,000 (5,181,000)
Inventories   (5,347,000) (11,080,000) (11,260,000) (10,434,000)
Prepaids and other current assets   2,796,000 (915,000) (2,375,000) (1,727,000)
Trade payables   (3,384,000) 598,000 (1,603,000) 2,989,000
Accrued expenses   2,849,000 152,000 4,104,000 394,000
Employee benefits payables   756,000 1,406,000 1,538,000 1,287,000
Contract liabilities   5,006,000 11,901,000 15,921,000 (1,380,000)
Other current liabilities   (930,000) 1,703,000 (832,000) 2,988,000
Non-current lease liabilities   (1,191,000) (720,000) (965,000) (1,243,000)
Other non-currentliabilities     (576,000) (242,000)  
Net cash used in operating activities   (36,582,000) (12,098,000) (27,757,000) (25,324,000)
Cash flows from investing activities          
Purchases of property, equipment and software   (5,699,000) (15,618,000) (25,148,000) (20,597,000)
Proceeds on disposal of equipment       27,000  
Cash paid for acquisition, net of acquired cash     (12,208,000) (12,208,000)  
Net cash used in investing activities   (5,699,000) (27,826,000) (37,329,000) (20,597,000)
Cash flows from financing activities          
Payment of deferred transaction costs associated with planned reverse recapitalization transaction   (2,298,000)      
Proceeds from the exercise of stock options   772,000 22,000 978,000 654,000
Proceeds from long-term revolving line of credit   15,000,000      
Proceeds from long-term secured term loan   98,895,000      
Repayments on long-term revolving line of credit   (15,000,000)      
Principal payments under finance lease liabilities       0 (737,000)
Proceeds from issuance of Series E-1 Preferred Stock     20,500,000 20,500,000  
Net cash provided by (used in) financing activities   97,369,000 20,522,000 21,478,000 (83,000)
Effect of exchange rate changes on cash and cash equivalents and restricted cash   20,000 (113,000) (153,000) 308,000
Net (decrease) increase in cash and cash equivalents and restricted cash   55,108,000 (19,515,000) (43,761,000) (45,696,000)
Cash and cash equivalents, and restricted cash, beginning of period   53,933,000 97,694,000 97,694,000 143,390,000
Cash — Beginning   52,792,000 95,878,000 95,878,000  
Cash and cash equivalents, and restricted cash, end of period 53,933,000 109,041,000 78,179,000 53,933,000 97,694,000
Cash — Ending $ 52,792,000 107,931,000   52,792,000 95,878,000
Supplemental disclosures of cash flow information          
Cash refunds/(paid) for income taxes       300,000 (757,000)
Supplemental disclosures of non-cash investing and financing activities          
Unpaid purchases of property, equipment and software   1,231,000 $ 1,062,000 2,090,000 $ 5,004,000
Issuance of common stock warrants and accrued issuance costs in connection with loan and security agreement       $ 677,000  
Deferred transaction costs in accrued expenses   $ 1,096,000