Rocket Lab USA Inc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.65%.
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 Street expectation by 11.05%. <a href="https://247wallst.com/investing/2026/05/07/live-rocket-lab-q1-earnings-tonight-can-rklb-continue-to-soar/">Investors watching closely</a> 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.
- 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
“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.”
Rocket Lab CEO, on the earnings call
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
RKLB Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.