Rocket Lab (RKLB)
Rocket Lab (RKLB) is a vertically integrated space company that launches small satellites on its Electron rocket, is developing the medium-lift Neutron, and builds spacecraft and components. In ETFpedia it represents the U.S. Space Tech concept as an upstream pure-play that owns both a flying launch vehicle and a fast-growing space manufacturing business.
| Ticker | RKLB |
|---|---|
| Exchange | Nasdaq |
| Sector | Aerospace · Launch & Space Systems |
| Country | United States |
| Wikidata | Q116319 |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Calendar-estimated from prior years; not confirmed by Rocket Lab. Last report: Q1 2026 on 2026-05-07. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-07)
Rocket Lab posted record Q1 2026 revenue of $200.3 million, up 63.5% year over year, and narrowed its GAAP net loss to $45.0 million from $60.6 million a year earlier, as launch and Space Systems demand pushed backlog to $2.2 billion.
| Revenue | $200.3M+63.5%YoY · Company record |
|---|---|
| GAAP net loss | $(45.0)MNarrowed from $(60.6)MYoY · GAAP EPS $(0.07) |
| GAAP operating loss | $(56.0)M · Per SEC 10-Q XBRL |
| Backlog | $2.2B+20.2% QoQYoY · Total contracted manifest over 70 missions |
| Total liquidity | Over $2.0B |
Guidance:Q2 2026
| Revenue | $225M-$240M |
|---|
Q2 2026 revenue guidance issued with the Q1 2026 release.
Recent & upcoming events
- · Record Q1 2026 results.Revenue $200.3M (+63.5%), net loss narrowed to $45.0M; signed 31 new Electron and HASTE contracts plus 5 more Neutron agreements, lifting backlog to $2.2B. (source)
- · Record FY2025 results.Full-year 2025 revenue reached a record $601.8M (+38%) with a net loss of $198.2M; year-end backlog grew 73% to $1.85B after 21 launches at a 100% annual success rate. (source)
Revenue, net loss, and backlog are from the Q1 2026 IR release; GAAP operating loss is from SEC XBRL. Neutron debut timing reflects company commentary, not a confirmed date.
Figures are as of 2026-06-04 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Rocket Lab do?
Rocket Lab is one of the few Western companies that both flies its own orbital rocket and manufactures the spacecraft that ride on it. Its Electron is the most-flown U.S. small launch vehicle, and the company flew 21 missions in 2025 at a 100% annual success rate (Rocket Lab FY2025). Alongside launch, its Space Systems segment builds satellites, reaction wheels, solar arrays, separation systems, and flight software, which gives Rocket Lab a second revenue engine that does not depend on any single rocket flying. The next leg of the story is Neutron, a reusable medium-lift rocket aimed at the heavier payloads and constellation deployments that Electron is too small to carry.
“We delivered record quarterly revenue of $180 million, which brought our full year revenue to a record $602 million, representing 38% growth year on year. We reached a new annual launch record, flying 21 missions across Electron and HASTE with a 100% success rate for the year.”
Why is Rocket Lab a U.S. Space Tech company?
The U.S. Space Tech theme splits roughly into upstream (getting hardware to orbit and building it) and downstream (selling data and connectivity from space). Rocket Lab sits squarely upstream, and it is unusual in spanning two upstream layers at once: launch and spacecraft manufacturing. That breadth is why it anchors the theme. It ended Q1 2026 with a $2.2 billion backlog and more than 70 contracted missions, and management said it sold more launches in the first quarter of 2026 than in all of 2025 (Rocket Lab Q1 2026). As small-satellite constellations multiply, demand for dedicated launch and for the components inside those satellites pulls on the same supplier base Rocket Lab serves.
What did Rocket Lab report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Rocket Lab posted record revenue of $200.3 million, up 63.5% year over year, and narrowed its GAAP net loss to $45.0 million (EPS of $(0.07)) from a $60.6 million loss a year earlier (Rocket Lab Q1 2026). The company signed 31 new Electron and HASTE contracts plus five more Neutron agreements and closed what it called the largest launch contract in its history, lifting backlog 20.2% sequentially to $2.2 billion with over $2 billion in total liquidity. For full-year 2025, revenue reached a record $601.8 million, up 38%, against a net loss of $198.2 million, with year-end backlog up 73% to $1.85 billion (Rocket Lab FY2025).
What is Rocket Lab’s guidance?
Alongside the Q1 2026 release, Rocket Lab guided Q2 2026 revenue to $225 million to $240 million (Rocket Lab Q1 2026). Management reiterated that Neutron remains on track for a debut launch later in 2026, with progress on engine qualification and first-flight hardware integration. The Neutron timeline is a company target rather than a fixed, externally confirmed date, so it carries the usual development risk for a first orbital flight.
What are the risks for Rocket Lab?
- Still loss-making. Rocket Lab lost $45.0 million in Q1 2026 and $198.2 million in 2025; profitability depends on scaling launch cadence and Space Systems while controlling Neutron development spend.
- Neutron execution. A first orbital flight of a new medium-lift rocket carries real schedule and technical risk, and any slip pushes out the larger-payload revenue the bull case relies on.
- Launch concentration and competition. The launch market is dominated by far larger players, and a single launch failure can dent reputation and backlog.
- Customer and government timing. A large share of backlog is tied to government and constellation customers whose schedules and budgets can shift.
Related securities, concepts & terms
- U.S. Space Techparent
- Redwire (RDW)sibling
Related indices & ETFs
- Akros U.S. Space Tech Index · AkrosRocket Lab is a representative constituent of the U.S. Space Tech concept index.
Frequently asked questions about Rocket Lab
What does Rocket Lab do?
Rocket Lab is a vertically integrated space company. It launches small satellites on its Electron rocket, the most-flown U.S. orbital small launcher, and is developing the larger Neutron rocket for medium-lift missions. Through its Space Systems business it also builds spacecraft, satellite reaction wheels, solar panels, separation systems, and flight software for commercial and government customers.
Why is Rocket Lab part of the U.S. Space Tech theme?
Rocket Lab is an upstream pure-play that builds and flies the hardware that reaches orbit. It owns a flying launch vehicle and a fast-growing manufacturing arm, so it captures both the launch and the spacecraft-building halves of the space supply chain. It ended Q1 2026 with a $2.2 billion backlog and over 70 contracted missions (Rocket Lab Q1 2026).
What was Rocket Lab's latest revenue?
Rocket Lab reported record Q1 2026 revenue of $200.3 million, up 63.5% year over year, with a GAAP net loss of $45.0 million (EPS $(0.07)), narrowed from a $60.6 million loss a year earlier (Rocket Lab Q1 2026). Full-year 2025 revenue was a record $601.8 million, up 38%, with a net loss of $198.2 million (Rocket Lab FY2025).
When does Rocket Lab report next earnings?
Rocket Lab is expected to report Q2 2026 results in early August 2026. That date is calendar-estimated from prior years and not yet confirmed by the company, so check Rocket Lab's investor relations page. It last reported Q1 2026 on May 7, 2026, and guided Q2 2026 revenue to $225 million to $240 million.
Is Rocket Lab profitable?
No. Rocket Lab is still loss-making as it invests in the Neutron rocket and scales its Space Systems business. It reported a GAAP net loss of $45.0 million in Q1 2026 and a $198.2 million net loss for full-year 2025, although revenue is growing fast (+63.5% in the quarter) and the quarterly loss narrowed year over year (Rocket Lab FY2025).
Sources & references
- Rocket Lab Announces First Quarter 2026 Financial Results (Form 8-K, Exhibit 99.1) · Rocket Lab Corporation / SEC EDGAR, 2026-05-07
- Rocket Lab Announces Fourth Quarter and Full Year 2025 Financial Results · Rocket Lab Corporation / Nasdaq, 2026-02-26
- Rocket Lab Corporation · Q1 2026 quarterly report (Form 10-Q filing index) · Rocket Lab Corporation / SEC EDGAR, 2026-05-07
- Rocket Lab Corporation · FY2025 results (Form 8-K, Exhibit 99.1) · Rocket Lab Corporation / SEC EDGAR, 2026-02-26
- Rocket Lab Corporation · Investor Relations · Rocket Lab Corporation, 2026-06-04