Rocket Lab USA Inc. Common Stock Earnings Recaps
Q1 2026
May 9, 2026
Rocket Lab’s shares surged 34.2% post-earnings as the company delivered a significant beat on revenue, backlog growth, and contract bookings, signaling strong execution and robust demand across launch and space systems segments.
Key takeaways
- Revenue topped $200 million in Q1, marking a record quarter and a 63% increase year-over-year.
- Gross margins remain healthy with GAAP at 38.2% and non-GAAP at 43%.
- Backlog surpassed $2 billion, up 20% sequentially and 108% year-over-year, fueled by record contract signings.
- Booked 31 missions for Electron and HASTE, the highest quarterly launch order count in company history, pushing the launch backlog above 70 missions.
- Cash and liquidity remain strong with $1.48 billion on hand and secured access to over $2 billion, supporting growth and M&A opportunities.
Q3 2025
Nov 11, 2025
Rocket Lab USA delivered a record-breaking third quarter with $155 million in revenue, marking a 48% year-over-year increase and setting the stage for continued growth in the small satellite launch market.
Key takeaways
- Achieved a record 17 dedicated launches in 2025, significantly expanding the launch contract backlog to 49 contracts.
- Gross margin improved from negative 34% in 2020 to an expected positive range of 37-39% in Q4 2025.
- Successful integration of twin spacecraft for NASA's Mars mission, reinforcing capabilities in space systems and national security programs.
- Closed the acquisition of Geos to bolster payload offerings and is nearing the acquisition of laser communications firm Manaruk.