CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2025

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES

Cash and cash equivalents and marketable securities consisted of the following as of December 31, 2025 and 2024:


	December 31,
	2025		2024
Cash and cash equivalents	$	828,660	$	271,042
Marketable securities, current	187,917		147,948
Marketable securities, non-current	82,247		60,686
Total cash and cash equivalents and marketable securities	$	1,098,824	$	479,676

As of December 31, 2025, cash equivalents and marketable securities consisted of the following:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Marketable Securities
Money market accounts	$	741,498	$	—	$	—	$	741,498	$	741,498	$	—
Certificates of deposit	13,168		9		—		13,177		1,556		11,621
Commercial paper	27,769		7		—		27,776		—		27,776
Corporate debt securities	136,434		169		(17)		136,586		—		136,586
Yankee bonds	5,339		12		—		5,351		—		5,351
U.S. Treasury securities	48,978		90		—		49,068		—		49,068
Asset-backed securities	39,637		125		—		39,762		—		39,762
Total	$	1,012,823	$	412	$	(17)	$	1,013,218	$	743,054	$	270,164

The following table presents the Company’s cash equivalents and marketable securities with unrealized losses by investment category and the length of time the marketable securities have been in a continuous loss position as of December 31, 2025:


	In Loss Position for Less than 12 Months
	Fair Value		Unrealized Losses
Corporate debt securities	$	25,198	$	(17)

Total	$	25,198	$	(17)

The Company has not observed a significant deterioration in credit quality of these securities, which are highly rated with moderate to low credit risk. Declines in value are largely attributable to current global economic conditions. The securities continue to make timely principal and interest payments, and the fair values are expected to recover as they approach maturity. The Company does not intend to sell the securities, and it is not more likely than not that the Company will be required to sell the securities, before the respective recoveries of their amortized cost bases, which may be maturity. As of December 31, 2025, the Company had not recognized an allowance for credit losses on any marketable securities in an unrealized loss position.

The following table summarizes the contractual maturities of the Company’s cash equivalents and marketable securities as of December 31, 2025:


	Amortized Cost		Fair Value
Due within one year	$	930,713	$	930,971
Due within one to two years	82,110		82,247
Total	$	1,012,823	$	1,013,218

Rocket Lab Corp 10-K