Rocket Lab (RKLB) Q1 2026 Earnings
How Did RKLB Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: −1.65%.
Did RKLB Beat Earnings? Q1 2026 Results
Yes. Rocket Lab reported Q1 2026 earnings of $-0.07 a share on May 7, 2026, beating the $-0.08 consensus estimate by 11.1%. Revenue was $200.3M against a $189.4M estimate.
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
What Was Rocket Lab's Outlook in Q1 2026?
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
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $200.3M | $122.6M | +63.5% |
| Gross Profit | $76.5M | $35.2M | +117.0% |
| Operating Income | −$56.0M | −$53.1M | +5.4% |
| Net Income | −$45.0M | −$35.8M | +25.7% |
RKLB Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.