May. 7 at 9:45 PM
$RKLB reports 1Q26:
-EPS: –
$0.07 [improved from –
$0.12 y/y] vs est of –
$0.04 [Miss by –
$0.03]
-Revs:
$200.3M [up +63.5% y/y] vs est of
$189.7M [Beat by +5.6%]
-GAAP EPS: –
$0.07 [improved from –
$0.12 y/y]
-Backlog:
$2.2B [up +20.2% q/q]
-Backlog Split: 51% Commercial & 49% Govt
-Launches booked: 31 [Record]
-Launches YTD: 8
-Launch Backlog: 70+
-Expects 36% of 1Q26 backlog to be recognized w/n 12 months
-GAAP Gross Profit:
$76.5M
-Gross Margin: 43.0% [up +480bps y/y]
-Adj. EBITDA: –
$11.8M [improved from –
$30.0M y/y]
-Net Loss: –
$45.0M [improved from –
$60.6M y/y]
-CFFO: –
$50.3M
-FCF: –
$68.9M
-Total Cash:
$2.39B
2Q26 Guide:
-Revs:
$225M–
$240M vs est of
$204.048B
-GAAP Gross Margin: 33–35%
-Gross Margin: 38–40%
-Adj. EBITDA: –
$20M to –
$26M
-SBC:
$19.0M–
$21.0M
-Selected to demonstrate advanced capabilities for the US Space Force’s Space Based Interceptor program in partnership w/
$RTX
-Selected by Anduril for a
$30M contract covering multiple hypersonic test flights w/ its HASTE launch vehicle
CEO: “Rocket Lab has delivered another exceptional quarter with record financial performance of more than
$200M 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
$2.2B in backlog and currently have access to more than
$2B in liquidity, putting us in a very strong position for continued growth and M&A execution"
