Key Highlights
- Q1 revenue reached $200.3M, representing a 63.5% increase year-over-year and surpassing analyst expectations of $190M.
- The company delivered $76.5M in gross profit, exceeding the anticipated $73M.
- Second quarter revenue guidance of $225M–$240M significantly beats consensus estimates of $205M.
- Total backlog climbed to a record $2.2B, marking a 20.2% increase from the previous quarter.
- Major wins include participation in the Golden Dome Space Based Interceptor initiative with Raytheon, hypersonic testing contracts with Anduril, and the planned acquisition of robotics company Motiv Space Systems.
Shares of Rocket Lab (RKLB) surged 7.5% to $84.53 during premarket hours on Thursday following the aerospace company’s announcement of record-breaking quarterly results and several significant contract awards.
The company delivered first-quarter revenue of $200.3 million, comfortably exceeding analyst projections of approximately $190 million. Gross profit totaled $76.5 million, likewise outperforming the consensus estimate of $73 million.
Comparing to the same period last year, when Rocket Lab reported $122.6 million in revenue and $35.2 million in gross profit, the company has achieved a remarkable 63.5% revenue growth rate over the past year.
The company’s GAAP gross margin expanded to 38.2% — establishing a new company record.
RKLB shares had already appreciated more than 250% over the trailing 12-month period prior to this earnings release. Thursday’s premarket gains extend that impressive momentum.
Second Quarter Outlook Exceeds Projections
Rocket Lab provided Q2 revenue guidance ranging from $225 million to $240 million. With analysts expecting $205 million, the company’s guidance midpoint represents an approximately $27 million beat versus Street expectations.
Management projects non-GAAP gross margins for the current quarter will fall between 38% and 40%.
The firm concluded the first quarter with a record-high backlog totaling $2.2 billion, reflecting a 20.2% sequential increase. Additionally, the company maintains over $2 billion in total liquidity.
During the first quarter, Rocket Lab secured 31 new launch agreements for its Electron and HASTE vehicles, alongside five dedicated Neutron missions. Management noted that Q1 2026 launch bookings exceeded the entire 2025 calendar year. The company’s total contracted launch schedule now surpasses 70 missions.
Strategic Wins and Expansion Moves
On the contracts front, Rocket Lab earned selection to support the Department of War’s Space Based Interceptor program — a component of President Trump’s Golden Dome for America defense initiative — working alongside Raytheon.
The company will provide hypersonic weapons testing capabilities for Anduril through the MACH-TB program, which Rocket Lab characterized as a record-setting contract.
Rocket Lab finalized its purchase of Mynaric AG, a laser optical communications specialist, marking the company’s initial expansion into European operations.
The firm also executed a definitive agreement to purchase Motiv Space Systems, a robotics manufacturer with proven Mars mission heritage. This acquisition aims to internalize solar array drive assemblies and additional precision engineering capabilities.
Rocket Lab unveiled Gauss, a newly developed electric satellite propulsion system engineered for high-volume manufacturing to serve both commercial operators and national security constellation programs.
Development of the Neutron medium-class launch vehicle continues advancing, with first-flight hardware now undergoing integration and Archimedes engine qualification testing progressing. The company maintains its target of conducting Neutron’s inaugural launch within this calendar year.
CEO Peter Beck stated the company has become “already embedded in the most demanding and significant space programs of our generation.”
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