Key Highlights
- First-quarter revenue reached $200.3M, representing a 63.5% year-over-year increase and surpassing Wall Street’s $190M projection.
- The company delivered gross profit of $76.5M, exceeding analyst expectations of $73M.
- Second-quarter revenue guidance of $225M–$240M significantly outpaces the $205M consensus estimate.
- Contract backlog climbed to an all-time high of $2.2B, marking a 20.2% increase from the previous quarter.
- Major new agreements include participation in the Golden Dome Space Based Interceptor initiative with Raytheon, hypersonic testing missions for Anduril, and the planned acquisition of robotics company Motiv Space Systems.
Shares of Rocket Lab (RKLB) climbed 7.5% to $84.53 in premarket trading Thursday following the space technology company’s announcement of record-breaking quarterly results and several high-profile contract awards.
The company reported first-quarter revenue of $200.3 million, comfortably exceeding Wall Street’s consensus forecast of approximately $190 million. Gross profit totaled $76.5 million, also surpassing the anticipated $73 million.
To put these figures in perspective, Rocket Lab generated $122.6 million in revenue and $35.2 million in gross profit during the same period last year. This represents a substantial 63.5% revenue growth over a 12-month span.
The company achieved a GAAP gross margin of 38.2% — marking another company milestone.
Prior to Thursday’s earnings release, the stock had already appreciated more than 250% over the trailing 12-month period. The premarket rally extends that impressive performance.
Second-Quarter Outlook Exceeds Expectations
Rocket Lab provided second-quarter revenue guidance in the range of $225 million to $240 million. This forecast significantly exceeds the Street’s $205 million estimate, with the midpoint coming in approximately $27 million above analyst projections.
The company projects non-GAAP gross margins for the second quarter to land between 38% and 40%.
Rocket Lab closed the first quarter with a record contract backlog of $2.2 billion, representing a 20.2% sequential increase. The company also maintains over $2 billion in total liquidity.
During the three-month period, the company secured 31 new launch contracts for its Electron and HASTE vehicles, along with five dedicated Neutron missions. Management noted that Q1 2026 launch bookings exceeded the entire 2025 total. The company’s current launch manifest now includes more than 70 contracted missions.
Strategic Agreements and Corporate Expansion
On the business development front, Rocket Lab earned selection to support the Department of War’s Space Based Interceptor initiative — a component of President Trump’s Golden Dome for America defense program — working alongside Raytheon.
The company will provide launch services for Anduril’s hypersonic weapons testing under the MACH-TB program, which Rocket Lab characterized as a record-setting contract.
Rocket Lab finalized its acquisition of Mynaric AG, a laser optical communications specialist that establishes the company’s inaugural European presence.
The firm also entered into a binding agreement to purchase Motiv Space Systems, a robotics manufacturer with Mars-validated technology. This acquisition aims to internalize solar array drive assemblies and other high-precision components.
The company unveiled Gauss, a newly developed electric satellite propulsion system engineered for high-volume manufacturing to serve both commercial and national security satellite constellation clients.
Development of the Neutron medium-lift launch vehicle continued advancing, with first-flight hardware now in integration and Archimedes engine qualification progressing. Rocket Lab is targeting Neutron’s inaugural launch for later this calendar year.
CEO Peter Beck stated that the company is “already embedded in the most demanding and significant space programs of our generation.”
