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First-quarter revenue at Rocket Lab climbed to $200.3 million, the company reported Thursday, reflecting a 63.5% jump compared with the year-ago period. Wall Street had been looking for $189.68 million, meaning the result cleared expectations by a wide margin, according to Benzinga.
The company reported a net loss of $45 million, or seven cents per share, compared with a net loss of $60.6 million in the first quarter of 2025. GAAP gross margin reached 38.2%, and adjusted EBITDA came in at a loss of $11.8 million. Rocket Lab ended the quarter with a backlog of $2.2 billion, up 20.2% from the prior quarter, and more than $2 billion in total liquidity.
"Rocket Lab has delivered another exceptional quarter with record financial performance," CEO Peter Beck said in a statement. "We're already embedded in the most demanding and significant space programs of our generation and we're in an incredibly strong position to continue expanding this."
For the second quarter, Rocket Lab forecast revenue of $225 million to $240 million. That range exceeded analyst expectations of $205.05 million, according to Benzinga. The company projected an adjusted EBITDA loss of $20 million to $26 million for the period.
This quarter, Rocket Lab signed 31 new contracts for Electron and HASTE launches and secured five more agreements for its Neutron medium-lift rocket. The company said it has already sold more launches in the first quarter of 2026 than in all of 2025, bringing its total launch manifest to over 70 contracted missions. Rocket Lab also closed a bulk purchase of Neutron and Electron flights from an undisclosed customer, calling it the largest launch contract in its history.
The company said its Neutron rocket remains on track for a debut launch later this year, with ongoing progress on engine qualification and first-flight hardware integration.
Alongside its earnings release, Rocket Lab disclosed that it had been chosen, working alongside Raytheon, to demonstrate advanced capabilities for the U.S. Space Force's Space Based Interceptor program, which forms part of President Donald Trump's Golden Dome for America initiative. Anduril has awarded Rocket Lab a $30 million deal to conduct several hypersonic test flights aboard its HASTE vehicle.
Rocket Lab completed its acquisition of Mynaric AG, a provider of laser optical communications terminals, during the quarter, and entered into a definitive agreement to acquire Motiv Space Systems, a space robotics company. The acquisitions establish Rocket Lab's first European footprint and add Mars-tested robotics capability to its portfolio, the company said.
Shares of Rocket Lab gained roughly 6.9% in Thursday's after-hours session, touching $84, according to Benzinga.