Key Highlights
- Rocket Lab delivered exceptional Q1 revenue of $200.3M, representing a 63.5% year-over-year increase and surpassing Wall Street’s $190M projection.
- The company achieved gross profit of $76.5M, exceeding analyst expectations of $73M.
- Second-quarter revenue guidance of $225M–$240M significantly outpaces the $205M analyst consensus.
- The company’s order backlog reached an all-time high of $2.2B, marking a 20.2% increase from the previous quarter.
- Recent contract awards encompass the Golden Dome Space Based Interceptor initiative with Raytheon, hypersonic testing missions for Anduril, and the planned acquisition of robotics specialist Motiv Space Systems.
Shares of Rocket Lab (RKLB) surged 7.5% during premarket hours to $84.53 on Thursday following the aerospace company’s announcement of exceptional quarterly performance and multiple high-profile contract awards.
The company’s first-quarter revenue reached $200.3 million, comfortably exceeding Wall Street’s consensus estimate of approximately $190 million. Gross profit totaled $76.5 million, likewise surpassing the anticipated $73 million.
To put this in perspective, the company generated $122.6 million in revenue and $35.2 million in gross profit during the same period last year. This represents a robust 63.5% revenue expansion over a 12-month span.
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The company’s GAAP gross margin climbed to 38.2% — establishing yet another company milestone.
Heading into this earnings release, RKLB shares had already appreciated more than 250% over the trailing twelve months. Thursday’s premarket gains extended that impressive rally.
Second Quarter Outlook Exceeds Projections
Rocket Lab issued second-quarter revenue guidance ranging from $225 million to $240 million. This forecast significantly exceeds Wall Street’s $205 million estimate, with the midpoint coming in approximately $27 million above consensus expectations.
The company projects non-GAAP gross margins for the second quarter to fall between 38% and 40%.
Rocket Lab closed the first quarter with an unprecedented backlog valued at $2.2 billion, up 20.2% sequentially. The company also maintains over $2 billion in total liquidity.
During the first quarter alone, Rocket Lab secured 31 new launch contracts for its Electron and HASTE vehicles, in addition to five dedicated Neutron launches. According to company statements, Q1 2026 launch bookings exceeded the entirety of 2025. The firm’s total launch manifest now includes more than 70 contracted missions.
Strategic Partnerships and Business Expansion
On the commercial front, Rocket Lab was chosen to participate in the Department of War’s Space Based Interceptor program — a component of President Trump’s Golden Dome for America initiative — working alongside Raytheon.
Anduril has selected Rocket Lab to conduct hypersonic weapons testing flights through the MACH-TB program, which the company characterized as a record-breaking contract.
Rocket Lab completed its acquisition of Mynaric AG, a laser optical communications specialist that establishes the company’s inaugural European presence.
The firm executed a definitive agreement to purchase Motiv Space Systems, a robotics enterprise with Mars-validated technology. This acquisition aims to internalize solar array drive assemblies and additional precision components.
The company unveiled Gauss, a newly developed electric satellite thruster engineered for mass production, targeting both commercial operators and national security constellation customers.
Development of the Neutron medium-lift rocket continues advancing, with first-flight hardware integration currently in progress and Archimedes engine qualification moving forward. Rocket Lab is targeting a maiden Neutron launch before year-end.
CEO Peter Beck stated that the company is “already embedded in the most demanding and significant space programs of our generation.”
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