1 00:00:03,080 --> 00:00:05,000 Speaker 1: I've got some questions that have come in from shareholders 2 00:00:05,000 --> 00:00:07,440 Speaker 1: over the last couple of days. So the first one 3 00:00:07,480 --> 00:00:08,760 Speaker 1: is what made you pick space? 4 00:00:09,480 --> 00:00:12,800 Speaker 2: So the reason I like space is that you can 5 00:00:12,840 --> 00:00:17,520 Speaker 2: have maximum impact on this planet for kind of minimum 6 00:00:17,960 --> 00:00:18,880 Speaker 2: resources and effort. 7 00:00:19,720 --> 00:00:20,560 Speaker 3: So think about this. 8 00:00:20,920 --> 00:00:23,280 Speaker 2: You can put a spacecraft in orbit, and we did 9 00:00:23,600 --> 00:00:25,400 Speaker 2: take an example of a weather spacecraft we put in 10 00:00:25,480 --> 00:00:28,040 Speaker 2: orbit a few years ago, and that whether spacecraft can 11 00:00:28,080 --> 00:00:31,440 Speaker 2: provide data and services and knowledge to literally hundreds of 12 00:00:31,480 --> 00:00:34,680 Speaker 2: millions of people every day times the duration of the 13 00:00:34,720 --> 00:00:38,040 Speaker 2: spacecraft's lifetime, which could be ten years. So there's crazy 14 00:00:38,080 --> 00:00:41,360 Speaker 2: little box of electronics can have just huge amount of 15 00:00:41,479 --> 00:00:45,080 Speaker 2: impact to so many people. And there's very few industries 16 00:00:45,120 --> 00:00:47,120 Speaker 2: that you can have that amount of impact or have 17 00:00:47,159 --> 00:00:50,120 Speaker 2: that amount of reach. So that's primary, you know, the 18 00:00:50,159 --> 00:00:51,120 Speaker 2: thing I love about space. 19 00:00:51,159 --> 00:00:53,720 Speaker 3: Plus it's cool. Yeah. Cool. 20 00:00:54,320 --> 00:00:57,080 Speaker 1: The next question is are you contributing to space junk 21 00:00:57,200 --> 00:00:59,160 Speaker 1: and is there a plan to clean it up? 22 00:01:00,040 --> 00:01:00,280 Speaker 3: Yeah? 23 00:01:00,280 --> 00:01:04,200 Speaker 2: So I think anybody who launches anything to space, you know, 24 00:01:04,319 --> 00:01:06,600 Speaker 2: has to put their hand on their heart and say, yet, well, 25 00:01:06,800 --> 00:01:10,240 Speaker 2: sometimes we leave some stuff behind. We've always taken in 26 00:01:10,280 --> 00:01:12,039 Speaker 2: the approach that we want to leave the minimum out 27 00:01:12,080 --> 00:01:15,360 Speaker 2: behind as we can possible. So you know, the way 28 00:01:15,400 --> 00:01:18,280 Speaker 2: that Electron goes to orbit is quite different to most rockets. 29 00:01:18,680 --> 00:01:20,480 Speaker 2: You'll notice that there's like a little bit on the 30 00:01:20,480 --> 00:01:23,000 Speaker 2: top called to kickstage, and we try and deorbit that 31 00:01:23,040 --> 00:01:26,880 Speaker 2: wherever possible and just leave behind only the customer spacecraft. 32 00:01:27,400 --> 00:01:29,680 Speaker 2: Now that's not the normal thing, like a lot of 33 00:01:29,720 --> 00:01:32,120 Speaker 2: a lot of countries will just leave the whole spent 34 00:01:32,200 --> 00:01:35,200 Speaker 2: upper stage of the rocket and orbit. So that you know, 35 00:01:35,280 --> 00:01:37,800 Speaker 2: that's that's pretty nasty. And I think there's a there's 36 00:01:37,800 --> 00:01:41,360 Speaker 2: a common misperception that space junk is just dead satellites. 37 00:01:42,040 --> 00:01:44,600 Speaker 2: Actually it's like one third dead rockets and two thirds 38 00:01:44,680 --> 00:01:48,280 Speaker 2: dead satellites or thereabouts. So we certainly do everything we 39 00:01:48,320 --> 00:01:50,440 Speaker 2: can to you know, to make sure we have the 40 00:01:50,480 --> 00:01:54,400 Speaker 2: minimum impact possible. And I would say as far as 41 00:01:54,560 --> 00:01:57,559 Speaker 2: companies go or businesses go, we're probably the furthest leaning 42 00:01:57,600 --> 00:02:02,120 Speaker 2: forward on kind of advocating for kind of regulation. Generally, 43 00:02:02,120 --> 00:02:05,120 Speaker 2: as an entrepreneur, you don't want any regulation, but this 44 00:02:05,200 --> 00:02:07,920 Speaker 2: is an instance where you know, we think that some 45 00:02:07,960 --> 00:02:10,680 Speaker 2: traffic management is going to be critical, and we certainly 46 00:02:10,960 --> 00:02:11,920 Speaker 2: certainly advocate for that. 47 00:02:12,000 --> 00:02:14,880 Speaker 1: Internationally, I mean, there's definitely seems to be an exponential 48 00:02:14,880 --> 00:02:17,000 Speaker 1: curve and with regards to how much is going up, 49 00:02:17,040 --> 00:02:19,720 Speaker 1: isn't it when you say d orbit like, so you've 50 00:02:19,720 --> 00:02:22,440 Speaker 1: got to you have to some additional propulsion or. 51 00:02:22,440 --> 00:02:23,960 Speaker 3: Something, right, correct? 52 00:02:24,120 --> 00:02:26,360 Speaker 2: Ye, So that that keck stage has a little rocket 53 00:02:26,360 --> 00:02:29,520 Speaker 2: engine on it and we circularize the orbit, deploy the spacecraft, 54 00:02:29,760 --> 00:02:32,400 Speaker 2: and wherever possible, we will burn that engine again and 55 00:02:32,440 --> 00:02:34,800 Speaker 2: put it into a into a declining orbit. 56 00:02:35,240 --> 00:02:37,480 Speaker 1: What we touched on a couple of these earlier. But 57 00:02:37,520 --> 00:02:40,000 Speaker 1: what are the macro factors that impact the space industry 58 00:02:40,040 --> 00:02:41,000 Speaker 1: and therefore rocket labe. 59 00:02:41,680 --> 00:02:44,360 Speaker 2: Yeah, so I think from a I guess purely from 60 00:02:44,400 --> 00:02:46,600 Speaker 2: a sheer price standpoint. You know, there's there's there's plenty 61 00:02:46,639 --> 00:02:50,120 Speaker 2: of you know, macro factors. You know that that that 62 00:02:50,280 --> 00:02:52,720 Speaker 2: influence that that that we have no control over. But 63 00:02:52,880 --> 00:02:56,920 Speaker 2: kind of generally the space industry seems pretty insulated from 64 00:02:56,960 --> 00:02:58,799 Speaker 2: from a lot of these things, just because of the 65 00:02:58,880 --> 00:03:01,800 Speaker 2: duration of the of the programs typically. 66 00:03:02,080 --> 00:03:05,400 Speaker 1: Yeah, do you have any sensitivities it's or much sensitivity 67 00:03:05,440 --> 00:03:07,520 Speaker 1: to the interest rate environment and stuff obviously. 68 00:03:07,360 --> 00:03:10,040 Speaker 2: Absolutely, yeah, Yeah, within the share price, you know, you know, 69 00:03:10,040 --> 00:03:13,200 Speaker 2: we can we can have a flawless launch and the 70 00:03:13,200 --> 00:03:17,600 Speaker 2: share price goes down simply because of a macro environment 71 00:03:17,760 --> 00:03:18,200 Speaker 2: kind of thing. 72 00:03:19,800 --> 00:03:21,600 Speaker 3: And favorite space movie. 73 00:03:23,680 --> 00:03:26,080 Speaker 2: Two thousand and one Space Odyssey, and as you want 74 00:03:26,120 --> 00:03:29,600 Speaker 2: on track, Yeah, yeah, so as you walked into the facility, 75 00:03:29,720 --> 00:03:33,040 Speaker 2: hopefully if you've watched that movie enough times, you'll recognize 76 00:03:33,360 --> 00:03:36,640 Speaker 2: the entrance portal is actually the very similar to the 77 00:03:36,680 --> 00:03:38,840 Speaker 2: portal of the you know, the Hell Computer. 78 00:03:39,400 --> 00:03:40,920 Speaker 3: What's the most accurate space movie? 79 00:03:41,040 --> 00:03:43,680 Speaker 2: Well, actually two thousand and one Space is actually very accurate. 80 00:03:43,720 --> 00:03:45,520 Speaker 2: It's one of the few space movies that doesn't have 81 00:03:45,640 --> 00:03:50,000 Speaker 2: sound in space. You find you see a lot of 82 00:03:50,000 --> 00:03:52,720 Speaker 2: a lot of those movies, and you know, the cruiser 83 00:03:52,800 --> 00:03:54,680 Speaker 2: will ignite its engineer here this roar. 84 00:03:54,840 --> 00:03:56,400 Speaker 3: It's no. 85 00:03:58,320 --> 00:04:01,080 Speaker 1: Right, it's fully over It quite a fundamental hurdle. I 86 00:04:01,120 --> 00:04:04,640 Speaker 1: would say that, Yeah, what steps are you taking to 87 00:04:04,800 --> 00:04:06,840 Speaker 1: improve the growth of Rock labment? 88 00:04:07,400 --> 00:04:10,080 Speaker 2: Yeah, well, I mean you can see you can see 89 00:04:10,280 --> 00:04:13,400 Speaker 2: the you know, the growth rate today you need that 90 00:04:13,520 --> 00:04:17,680 Speaker 2: seventy percent. So you know, we're always looking at new opportunities, 91 00:04:18,360 --> 00:04:22,760 Speaker 2: and you know we're investing heavily into projects and products 92 00:04:22,880 --> 00:04:25,560 Speaker 2: like neutron. You know, neutron is is going to be 93 00:04:25,560 --> 00:04:28,120 Speaker 2: a huge needle mover. And then you know if you 94 00:04:28,160 --> 00:04:30,720 Speaker 2: look at the combination of the space and the and 95 00:04:31,320 --> 00:04:34,640 Speaker 2: the launch you know that in opening up that that 96 00:04:34,680 --> 00:04:37,799 Speaker 2: three hundred and twenty billion dollar TAM, you know, we're 97 00:04:37,839 --> 00:04:39,760 Speaker 2: moving reving pretty aggressively towards that. 98 00:04:39,960 --> 00:04:43,159 Speaker 1: And has Rocke Lab considered adding another launch site in 99 00:04:43,200 --> 00:04:44,240 Speaker 1: New Zealand or Australia. 100 00:04:45,960 --> 00:04:46,200 Speaker 3: No. 101 00:04:47,160 --> 00:04:52,120 Speaker 2: Generally I avoid launch sites. They are giant cost centers. 102 00:04:52,480 --> 00:04:54,840 Speaker 2: It costs a lot of money to operate a launch site, 103 00:04:54,839 --> 00:04:57,560 Speaker 2: to staff it, to to keep it, to keep it running. 104 00:04:57,920 --> 00:05:00,440 Speaker 2: So I want the minimum amount of launch sites possible 105 00:05:00,560 --> 00:05:04,200 Speaker 2: to achieve our launch manifest because they are you know, they're. 106 00:05:04,120 --> 00:05:04,960 Speaker 3: P and L burners. 107 00:05:05,600 --> 00:05:07,719 Speaker 2: So we don't we don't want more of those. 108 00:05:08,279 --> 00:05:11,159 Speaker 1: What are the competitive advantages in operating out of New 109 00:05:11,240 --> 00:05:12,640 Speaker 1: Zealand and what are the challenges? 110 00:05:13,320 --> 00:05:16,040 Speaker 2: Yeah, great question. So the reason why we have operations 111 00:05:16,080 --> 00:05:18,760 Speaker 2: in New Zealand is primarily because of that launch site. 112 00:05:19,160 --> 00:05:21,360 Speaker 2: So all the launch sites in the United States are 113 00:05:21,360 --> 00:05:24,799 Speaker 2: pretty much flat out, and we made a strategic decision 114 00:05:25,120 --> 00:05:27,479 Speaker 2: to not have to line up behind the you know, 115 00:05:27,480 --> 00:05:29,320 Speaker 2: the big players in the industry and way to turn. 116 00:05:29,920 --> 00:05:31,719 Speaker 2: So you know, it wasn't an easy one because we 117 00:05:31,760 --> 00:05:34,400 Speaker 2: had to you know, there had to be a technology 118 00:05:34,400 --> 00:05:37,360 Speaker 2: safeguard agreement signed between the two countries. A bilateral treaty 119 00:05:37,400 --> 00:05:39,440 Speaker 2: had to be created between New Zealand and the US. 120 00:05:39,720 --> 00:05:41,919 Speaker 2: A whole lot of rules and regulations had to be 121 00:05:42,040 --> 00:05:45,240 Speaker 2: created and amended. A Space Agency was created. So like, 122 00:05:45,320 --> 00:05:48,560 Speaker 2: it wasn't an easy thing to do, but we realize 123 00:05:48,800 --> 00:05:51,440 Speaker 2: it now because you know, we are the third most 124 00:05:51,440 --> 00:05:53,920 Speaker 2: frequent launch rocket in the world. And what we're able 125 00:05:54,000 --> 00:05:56,560 Speaker 2: to do is poke our head outside the hangar and go, 126 00:05:56,920 --> 00:05:58,040 Speaker 2: today's a good day for launch. 127 00:05:58,040 --> 00:05:58,960 Speaker 3: We'll guard launch today. 128 00:06:00,080 --> 00:06:03,359 Speaker 2: And moreover, it's it meets our business model where customers 129 00:06:03,800 --> 00:06:07,039 Speaker 2: move around on us. So if you're lined up at 130 00:06:07,040 --> 00:06:08,800 Speaker 2: the cape and you miss your window, you're going to 131 00:06:08,839 --> 00:06:11,640 Speaker 2: wait months to get your next window. Whereas if we 132 00:06:11,680 --> 00:06:13,560 Speaker 2: want to move a couple of days down to Mahre, 133 00:06:13,960 --> 00:06:14,480 Speaker 2: no big deal. 134 00:06:14,520 --> 00:06:16,760 Speaker 3: We'll just move a couple of days. Any other companies 135 00:06:16,839 --> 00:06:18,720 Speaker 3: using the MA here inside or was it just. 136 00:06:19,600 --> 00:06:22,159 Speaker 2: I mean, we operate the only private orbital launch site 137 00:06:22,200 --> 00:06:22,640 Speaker 2: in the world. 138 00:06:22,720 --> 00:06:25,359 Speaker 1: I'll ask this one because it's here so tasty? Or 139 00:06:25,360 --> 00:06:29,760 Speaker 1: eat them cheese nice? Now we've got the important stuff 140 00:06:29,760 --> 00:06:31,560 Speaker 1: out of the way to give into this one. Once 141 00:06:31,680 --> 00:06:34,480 Speaker 1: Neutron R and D is complete and the rocket is operational. 142 00:06:34,839 --> 00:06:37,520 Speaker 1: Do you anticipate that you'll need to reduce your engineering 143 00:06:37,720 --> 00:06:40,960 Speaker 1: R and D headcount become cash flow positive or will 144 00:06:40,960 --> 00:06:43,159 Speaker 1: the staff be able to be reassigned to further space 145 00:06:43,360 --> 00:06:45,919 Speaker 1: systems development while still maintaining a healthy profits. 146 00:06:46,000 --> 00:06:49,520 Speaker 2: Ye, that's a great question. So if we were just 147 00:06:49,520 --> 00:06:53,960 Speaker 2: going to stop at Neutron, maybe, but we're not. You've 148 00:06:53,960 --> 00:06:57,239 Speaker 2: seen you've seen our kind of growth a gender here. 149 00:06:57,760 --> 00:07:01,159 Speaker 2: You know, Neutron is one important piece of a puzzle 150 00:07:01,279 --> 00:07:04,080 Speaker 2: to get to an endo ends space systems company and 151 00:07:04,080 --> 00:07:07,120 Speaker 2: and really move into those products and services and delivering 152 00:07:07,120 --> 00:07:09,880 Speaker 2: infrastructure and or bit And I mean the same question 153 00:07:09,920 --> 00:07:12,440 Speaker 2: could have been asked of Electron. But the one thing 154 00:07:12,480 --> 00:07:14,480 Speaker 2: I will say is the one thing that that has 155 00:07:14,520 --> 00:07:17,760 Speaker 2: always been a throttle on this business is talent. And 156 00:07:17,800 --> 00:07:20,960 Speaker 2: we can never pipe enough people, enough engineers into this 157 00:07:21,000 --> 00:07:23,200 Speaker 2: business to you know, to continue on. 158 00:07:23,160 --> 00:07:24,360 Speaker 3: The growth trajectory that we want. 159 00:07:24,880 --> 00:07:28,600 Speaker 2: So I just can I never see that that being 160 00:07:29,040 --> 00:07:32,520 Speaker 2: you know, a challenge and and I think you know, 161 00:07:32,720 --> 00:07:36,880 Speaker 2: Neutron is is a very transformational kind of product line 162 00:07:37,240 --> 00:07:40,720 Speaker 2: in its own right, and the amount of engineers that 163 00:07:40,720 --> 00:07:43,120 Speaker 2: that you have to you to deliver that product isn't 164 00:07:43,400 --> 00:07:45,960 Speaker 2: is as many as you think, and those engineers will 165 00:07:46,000 --> 00:07:51,640 Speaker 2: be quickly kind of you redeployed into into other growth opportunities. 166 00:07:53,040 --> 00:07:56,080 Speaker 3: There's a good question a bit of a site to 167 00:07:56,160 --> 00:07:58,680 Speaker 3: it at the moment. So where are we, Peter, and 168 00:07:58,840 --> 00:07:59,560 Speaker 3: what we got here? 169 00:07:59,680 --> 00:08:01,760 Speaker 2: So this is sort of part of the foyer and 170 00:08:02,160 --> 00:08:05,720 Speaker 2: this is actually a recovered upper stage of an electron rocket. 171 00:08:05,800 --> 00:08:08,400 Speaker 2: So this is the very first rocket that we brought 172 00:08:08,440 --> 00:08:12,360 Speaker 2: back down from space and we cut it up and 173 00:08:12,520 --> 00:08:14,280 Speaker 2: stuck it in the foyer. And if you ever want 174 00:08:14,280 --> 00:08:16,560 Speaker 2: to touch something that's been to space and back, then 175 00:08:17,000 --> 00:08:17,680 Speaker 2: now is a chance. 176 00:08:18,240 --> 00:08:19,720 Speaker 3: Very cool. And where did you Where did you find it? 177 00:08:20,560 --> 00:08:23,240 Speaker 2: So we fished this out of the ocean. So this 178 00:08:23,440 --> 00:08:26,120 Speaker 2: was on a return to send a mission. Yeah, so 179 00:08:26,240 --> 00:08:31,200 Speaker 2: flight sixteen and you know it separated in its normal 180 00:08:31,240 --> 00:08:34,040 Speaker 2: trajectory and then followed a ballistic arc. We re entered 181 00:08:34,040 --> 00:08:36,120 Speaker 2: the atmosphere and then landed in the ocean and then 182 00:08:36,120 --> 00:08:36,800 Speaker 2: picked it back up. 183 00:08:39,360 --> 00:08:42,200 Speaker 1: So one of the coolest receptions, well certainly the corest 184 00:08:42,240 --> 00:08:44,640 Speaker 1: reception of you've been into we heard a story about 185 00:08:44,960 --> 00:08:46,760 Speaker 1: the idea of this. When you walk into rocket Lab, 186 00:08:46,760 --> 00:08:48,320 Speaker 1: you can tell us a little bit about the thinking 187 00:08:48,679 --> 00:08:49,360 Speaker 1: into the space. 188 00:08:49,559 --> 00:08:51,760 Speaker 2: Yeah, so as you into the portal behind you there, 189 00:08:51,800 --> 00:08:53,480 Speaker 2: it should look a little bit like two thousand and 190 00:08:53,520 --> 00:08:56,720 Speaker 2: one Space Odyssey, And you know, you want to be 191 00:08:56,760 --> 00:08:59,640 Speaker 2: transformed when you come in here into what the space 192 00:08:59,679 --> 00:09:03,280 Speaker 2: business is actually like. So you know, this area is 193 00:09:03,600 --> 00:09:07,040 Speaker 2: kind of a reception for sure, but also behind all 194 00:09:07,080 --> 00:09:10,520 Speaker 2: those glass panes there is you know, that's mission control. 195 00:09:10,720 --> 00:09:13,600 Speaker 2: So it gives a great opportunity for staff, for visitors 196 00:09:13,640 --> 00:09:17,720 Speaker 2: to come here and actually experience a launch and watch 197 00:09:17,960 --> 00:09:21,040 Speaker 2: watch mission control as it kind of happens. 198 00:09:21,520 --> 00:09:24,000 Speaker 1: Yeah, and what are the people in their mission there's 199 00:09:24,000 --> 00:09:25,560 Speaker 1: no launches today, but we've got a bunch of people 200 00:09:25,600 --> 00:09:27,000 Speaker 1: in there. What are they sort of up to on 201 00:09:27,040 --> 00:09:27,680 Speaker 1: the day to day. 202 00:09:28,320 --> 00:09:30,680 Speaker 2: Yes, so on on a day to day basis, you 203 00:09:30,720 --> 00:09:33,400 Speaker 2: know that they're running either whole stage tests or stack 204 00:09:33,480 --> 00:09:36,400 Speaker 2: tests or launching. We also run some some of our 205 00:09:36,400 --> 00:09:39,760 Speaker 2: satellite missions out of there, where share five mission controls 206 00:09:39,800 --> 00:09:42,880 Speaker 2: across all of our sites in the world, and at 207 00:09:42,880 --> 00:09:46,520 Speaker 2: any one time, you know, we're controlling spacecraft or launching 208 00:09:46,600 --> 00:09:49,280 Speaker 2: rockets and various kind of testing activities out of all 209 00:09:49,280 --> 00:09:50,360 Speaker 2: of those mission controls. 210 00:09:50,679 --> 00:09:52,800 Speaker 3: Yeah. Great, and we've got a sort of NAIs deck. 211 00:09:53,400 --> 00:09:55,800 Speaker 1: It looks like the Bell site or something from But 212 00:09:55,880 --> 00:09:57,280 Speaker 1: can you sell us a little bit why you chose 213 00:09:57,320 --> 00:09:59,200 Speaker 1: to the nasdack is the place to list the company? 214 00:09:59,720 --> 00:09:59,920 Speaker 3: Yes? 215 00:10:00,040 --> 00:10:02,679 Speaker 2: So, I mean from from a high growth tech company standpoint. 216 00:10:02,720 --> 00:10:05,480 Speaker 2: The Nasbeck narsdeck exchange, you know, just really suited us, 217 00:10:06,200 --> 00:10:08,600 Speaker 2: you know most it's most accurately represents who we are 218 00:10:08,640 --> 00:10:12,840 Speaker 2: as a company. Investing involves risk. You might lose the 219 00:10:12,840 --> 00:10:16,120 Speaker 2: money you start with. We recommend talking to a licensed 220 00:10:16,200 --> 00:10:20,280 Speaker 2: financial advisor. We also recommend reading product or sclosure documents 221 00:10:20,400 --> 00:10:22,000 Speaker 2: before deciding to invest.