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Q1 26 EPS
$-0.07
Q1 26 Revenue
$200.3M
BEAT +5.77%
Est. $189.4M
vs S&P Since Q1 26
+30.8%
BEATING MARKET
RKLB +30.8% vs S&P +0.1%
Market Reaction
Did RKLB Beat Earnings? Q1 2026 Results
Rocket Lab delivered a standout first quarter for fiscal 2026, posting revenue of $200.35 million, a 63.5% year-over-year increase that cleared the $189.41 million consensus estimate by 5.77%, while its loss per share of $0.07 beat the $0.08 Wall Str… Read more Rocket Lab delivered a standout first quarter for fiscal 2026, posting revenue of $200.35 million, a 63.5% year-over-year increase that cleared the $189.41 million consensus estimate by 5.77%, while its loss per share of $0.07 beat the $0.08 Wall Street expectation by 11.05%. Investors watching closely saw the company credit much of its momentum to a surge in contracted business, with 31 new Electron and HASTE launch agreements plus five dedicated Neutron missions signed in the quarter alone, pushing total backlog to $2.20 billion, up 20.2% sequentially. Non-GAAP gross margin expanded sharply to 43.0% from 33.4% a year ago, while the net loss narrowed to $45.02 million from $60.62 million. Options traders had anticipated significant volatility heading into the print, and the results gave them plenty to digest. Looking ahead, Rocket Lab guided Q2 revenue of $225 million to $240 million, with non-GAAP gross margins of 38% to 40%, as Neutron development advances toward a debut launch later in 2026.
Key Takeaways
- • 63.5% year-over-year revenue growth driven by both product and service revenues
- • Record GAAP gross margin of 38.2% and non-GAAP gross margin of 43.0%
- • Record backlog of $2.2 billion, up 20.2% quarter-over-quarter
- • 31 new Electron and HASTE contracts plus 5 dedicated Neutron launches signed in Q1 — more than full year 2025
- • Adjusted EBITDA loss improved to $11.8 million from $30.0 million year-over-year
RKLB Forward Guidance & Outlook
For Q2 2026, Rocket Lab guides revenue of $225M–$240M, GAAP gross margins of 33%–35%, non-GAAP gross margins of 38%–40%, GAAP operating expenses of $138M–$144M, non-GAAP operating expenses of $120M–$126M, net interest income of $12.5M, Adjusted EBITDA loss of $20M–$26M, and basic weighted average shares outstanding of 629 million. Stock-based compensation is expected at $19M–$21M. The Neutron launch vehicle remains on track for its debut launch later in 2026.
RKLB YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
RKLB Revenue by Segment
With YoY comparisons, source: SEC Filings
“Rocket Lab has delivered another exceptional quarter with record financial performance of more than $200 million in revenue, consistent execution across launch and space systems programs, a record number of significant new contracts signed, and strategic acquisitions secured. We exited the quarter with $2.2 billion in backlog and currently have access to more than $2 billion in liquidity, putting us in a very strong position for continued growth and M&A execution.”
— Peter Beck, Q1 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $-0.07 | — | $200.3M | +5.77% |
| Q4 25 BEAT FY | $-0.10 | $-0.09 | +8.16% | $179.7M | — |
| 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 | — | $-0.12 | — | $122.6M | — |