Rocket Lab (RKLB) Q2 2026: Record Revenue, Acquisitions Dent EPS
As seen on the 24/7 Wall St. homepage on August 10, 2026.
Revenue rose 62% year over year to a record, and $8.6 million in deal costs tied to Mynaric, Motiv and the pending Iridium takeover is the only reason EPS missed expectations. Management guided Q3 revenue to another record. Keep an eye on the stock through the 5:00 PM ET call.
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Rocket Lab posted Q2 2026 revenue of $234.07 million, beating the $230.94 million consensus by 1.35% and marking a 62% jump from the same quarter a year ago. Product revenues were the engine of that growth, nearly doubling year over year to $181.35 million. The bottom line told a different story on the surface: GAAP EPS came in at -$0.08, missing the -$0.0767 estimate by 4.3%, but the shortfall was entirely attributable to $8.6 million in transaction costs tied to the closed acquisitions of Mynaric and Motiv and the pending deal to acquire Iridium Communications.
CEO Peter Beck framed the quarter as transformative beyond the headline numbers, pointing to a backlog that grew 137% year over year to a record $2.36 billion. The company's cash position also expanded sharply, reaching $2.13 billion. On the cost side, the adjusted EBITDA loss narrowed to $8.8 million from $27.6 million in Q2 2025, and non-GAAP gross margin widened to 41.5% from 36.9% a year earlier.
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For Q3 2026, management guided revenue to between $250 million and $265 million, which would represent yet another record quarter. Rocket Lab also provided details on its Neutron medium-lift reusable rocket, with Stage 1 tank production targeting delivery to the launch pad in Q4 2026. Investors will get more detail on the Iridium deal and the integration of Mynaric and Motiv on the earnings call at 5:00 PM ET.
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