Loading
Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Rocket Lab USA, Inc. (RKLB) is 8/10.
Rocket Lab delivered its strongest first quarter ever, with record revenue of $200.3 million, up 63.5% year-over-year and just above the high end of guidance, led by Space Systems at $136.7 million (up 57.2%). GAAP gross margin was 38.2% (non-GAAP 43%), both above guidance, and the adjusted EBITDA loss of $11.8 million came in well below the guided range. Backlog jumped to roughly $2.2 billion, up 108% year-over-year, powered by a record quarter of bookings including a $190 million HASTE order and the largest contract in company history: five Neutron plus three Electron flights for a confidential customer through 2029. Rocket Lab was selected with Raytheon for the Golden Dome Space-Based Interceptor program, closed the Mynaric acquisition to establish a European footprint, and announced the Motiv Space Systems deal. Neutron's Stage 1 tank work is progressing on an aggressive schedule toward a first launch later this year, while free cash flow use was $77.4 million and total liquidity exceeded $2 billion; Q2 revenue was guided to $225 million to $240 million.
Scored from Rocket Lab USA, Inc.’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $132M | +120.7% | $-0.10 | 0.0% | 27.8% | -38.9% | -39.5% | $-24M |
| FY2025 Q1 | $123M | +32.1% | $-0.12 | -32.9% | 28.8% | -48.3% | -49.5% | $-83M |
| FY2025 Q2 | $144M | +36.0% | $-0.13 | -54.4% | 32.1% | -41.3% | -46.0% | $-55M |
| FY2025 Q3 | $155M | +48.0% | $-0.03 | +65.5% | 37.0% | -38.0% | -11.8% | $-69M |
| FY2025 Q4 | $180M | +35.7% | $-0.09 | +7.6% | 38.0% | -28.4% | -29.5% | $-114M |
| FY2026 Q1 | $200M | +63.5% | $-0.07 | +41.7% | 38.2% | -27.9% | -22.5% | $-77M |
| FY2026 Q2 | $234M | +62.0% | $-0.08 | +38.5% | 36.1% | -24.6% | -21.0% | $-110M |
Full Pro access for 30 days when you create a free account. No credit card required.
All prior quarters are free.