Rocket Lab Q1 2026 Revenue Growth and Backlog Record
Rocket Lab’s revenue grew 64 percent in Q1 2026, reaching a record $200 million, as its backlog hit $2.2 billion and stock surged 30 percent.
Key Highlights:
- Revenue: Up 64 percent to $200.3 million from $122.6 million year over year, exceeding analyst estimates.
- Backlog: Doubled in the last year to a staggering $2.2 billion.
- Stock: Rose 30 percent post-market close to a new all-time high, valuing the company at approximately $45 billion.
- Launches: The company sold more launches in Q1 2026 than in all of 2025.
Specifics:
- Business Segments: Space systems (satellite construction and components) generated $136.7 million, while the launch business contributed $63.7 million.
- Financial Health: Gross margin improved to 38.2 percent, net loss narrowed to $45 million, and adjusted EBITDA loss was $11.8 million.
- Launch Contracts: 31 new contracts for Electron and HASTE (plus five for Neutron) were signed in the quarter.
- Major Deal: Largest launch deal in history with an undisclosed customer for a bulk purchase of Neutron and Electron flights.
- Hypersonic Testing: $30 million contract from Anduril Industries for three HASTE hypersonic test flights.
- Backlog Breakdown: The $2.2 billion backlog is led by an $816 million prime contract with the Space Development Agency to build a missile defense constellation.
Second-quarter guidance: Projected revenue of $225-$240 million, exceeding Wall Street estimates.