, but losses grew as well, as the spacecraft and launch company added a NASA contract and continued to invest in its future Neutron vehicle.
Rocket Lab said an increase in R&D spending for its Neutron rocket and Photon spacecraft drove a rise in expenses. "At a time when we're starting to see a contraction of available small rockets, we're also seeing an increase in launch bookings for Electron launches in 2023 and beyond from new and returning customers across government and commercial sectors. The development of our larger rocket Neutron is continuing at pace," Rocket Lab founder and CEO Peter Beck said in a statement.
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