TLDR
- RKLB slips 2.22% despite record Q2 revenue rising 62% to $234 million today.
- Rocket Lab backlog jumps 137% year over year to a record $2.36 billion total.
- New launch contracts lift Rocket Lab’s backlog above 90 planned missions worldwide.
- Rocket Lab targets Q3 revenue of $250 million to $265 million after record Q2.
- Neutron progress and defense deals strengthen Rocket Lab’s growth pipeline.
Rocket Lab Corporation (RKLB) traded at $78.26, down 2.22%, despite reporting record second-quarter revenue and backlog. The company posted $234 million in Q2 revenue, up 62% from the same period last year. However, the stock pulled back after briefly moving above $80 during Tuesday trading.
Rocket Lab Q2 Revenue Reaches Record $234 Million
Rocket Lab generated record quarterly revenue as demand strengthened across launch services and space systems. Revenue also increased by $34 million from the previous quarter, extending the company’s growth streak. The results reflected stronger activity across Rocket Lab’s expanding space operations.
The company ended the quarter with a record backlog of $2.36 billion. That figure increased 137% year over year and strengthened future revenue visibility across several business lines. Rocket Lab also secured more than $1 billion in new Q3 contracts, including post-quarter agreements.
Launch demand remained a major growth driver during and after the quarter. Rocket Lab secured more than $437 million in Electron, HASTE, and Neutron launch contracts. Those agreements lifted its total launch backlog above 90 missions, the highest level in company history.
Neutron Progress and Acquisitions Broaden Rocket Lab’s Business
Rocket Lab advanced Neutron hardware through assembly, integration, and testing during the quarter. The company targets delivery of Neutron to the launch pad in the fourth quarter of 2026. Neutron will expand Rocket Lab’s reach into larger commercial and government missions.
The company also completed the acquisitions of Mynaric and Motiv during the period. Rocket Lab then announced an agreement to acquire Iridium Communications and expand its communications business. The planned transaction would combine launch, spacecraft production, satellite operations, and communications services.
Rocket Lab also expanded its government business through defense and satellite contracts. The company secured Space Force work covering surveillance, geostationary satellites, and national security missions. It also formed Rocket Lab Germany GmbH to support future manufacturing and European customer demand.
Q3 Guidance Signals Higher Revenue and Continued Losses
Rocket Lab expects third-quarter revenue between $250 million and $265 million. That forecast points to another sequential increase after the company posted record Q2 sales. Management also expects GAAP gross margins between 29% and 31%.
The company projected non-GAAP gross margins between 35% and 37%. Rocket Lab expects GAAP operating expenses between $143 million and $149 million. Non-GAAP operating expenses should range between $121 million and $127 million.
Rocket Lab expects an adjusted EBITDA loss between $17 million and $23 million. The company also forecast $21 million in net interest income during the third quarter. Despite record growth, the stock decline showed strong results did not prevent short-term selling pressure.
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