Q2 26 EPS GAAP
$-0.08
MISS 4.30%
Est. $-0.08
Includes $8.576 million in transaction costs related to acquisitions and $199 thousand change in fair value of contingent consideration
Q2 26 Revenue
$234.1M
BEAT +1.35%
Est. $230.9M
Market Reaction
Did RKLB Beat Earnings? Q2 2026 Results
Rocket Lab delivered a revenue beat but a slight earnings miss in Q2 2026, as record-setting top-line growth was tempered by rising costs tied to an ambitious acquisition spree. The company posted revenue of $234.07 million, clearing the $230.94 mill… Read more Rocket Lab delivered a revenue beat but a slight earnings miss in Q2 2026, as record-setting top-line growth was tempered by rising costs tied to an ambitious acquisition spree. The company posted revenue of $234.07 million, clearing the $230.94 million consensus by 1.35% and representing a 62.0% year-over-year surge driven by product revenues that nearly doubled to $181.35 million. On the bottom line, GAAP EPS came in at $-0.08, missing the $-0.08 consensus by 4.30%; the result included $8.58 million in acquisition-related transaction costs and a $199 thousand change in fair value of contingent consideration, both of which weighed on the reported figure. Those costs reflected a transformative quarter in which Rocket Lab closed acquisitions of Mynaric and Motiv and announced a deal to acquire Iridium Communications. Investors tracking the stock will now focus on management's Q3 guidance of $250 million to $265 million in revenue, suggesting continued sequential growth as the company's $2.36 billion backlog provides strong forward visibility.
Key Takeaways
- • 62% year-over-year revenue growth driven by surging demand across launch and space systems
- • Product revenues nearly doubled year-over-year to $181.3 million
- • Non-GAAP gross margin expanded to 41.5% from 36.9% year-over-year
- • Adjusted EBITDA loss narrowed to $8.8 million from $27.6 million in Q2 2025
- • Backlog grew 137% year-over-year to $2.36 billion
RKLB Forward Guidance & Outlook
For Q3 2026, Rocket Lab expects revenue between $250 million and $265 million (another record quarter), GAAP gross margins of 29%-31%, non-GAAP gross margins of 35%-37%, GAAP operating expenses of $143-$149 million, non-GAAP operating expenses of $121-$127 million, net interest income of $21 million, Adjusted EBITDA loss of $17-$23 million, and basic weighted average shares outstanding of 641 million (including approximately 41 million Series A Convertible Participating Preferred Shares). Stock-based compensation is expected to range from $18-$20 million in Q3 2026.
RKLB YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
RKLB Revenue by Segment
With YoY comparisons, source: SEC Filings
“Q2 was another fantastic quarter for Rocket Lab, highlighted by record results and massive momentum that has continued well after the close. We achieved a record $234 million in Q2 revenue - up 62% year-over-year and $34 million higher than last quarter's record - driven by surging demand across all areas of our business. Q2 2026 saw our backlog grow to $2.36 billion – another record – which, combined with new deals in the period since, equates to more than $1 billion in new contracts across launch and space systems already entered into in Q3.”
— Peter Beck, Q2 2026 Earnings Press Release
RKLB Earnings Trends
RKLB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RKLB EPS Trend
Earnings per share: estimate vs actual
RKLB Revenue Trend
Quarterly revenue: estimate vs actual
RKLB Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS Includes $8.576 million in transaction costs related to acquisitions and $199 thousand change in fair value of contingent consideration | $-0.08 | $-0.08 | -4.30% | $234.1M | +1.35% |
| Q1 26 BEAT | $-0.08 | $-0.07 | +11.05% | $200.3M | +5.77% |
| Q4 25 BEAT FY | $-0.10 | $-0.09 | +8.16% | $179.7M | +0.82% |
| FY Full Year | $-0.39 | $-0.37 | +4.93% | $601.8M | +0.28% |
| Q3 25 BEAT | $-0.10 | $-0.03 | +71.29% | $155.1M | +2.22% |
| Q2 25 MISS | $-0.08 | $-0.13 | -69.71% | $144.5M | +6.71% |
| Q1 25 MISS | $-0.09 | $-0.12 | -33.78% | $122.6M | +0.99% |