Companies · RKLB
Rocket Lab
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Latest analysis
Updated Aug 10, 2026
Rocket Lab posts record Q2 revenue of $234M (+62% YoY), $2.36B backlog, guides Q3 to $250-265M; announces Iridium acquisition.
Rocket Lab achieved record second-quarter revenue of $234 million, up 62% year-over-year, and expanded backlog to $2.36 billion—a 137% increase—driven by sustained demand across launch services and space systems. The company secured more than $437 million in new launch contracts during and after Q2, achieving 90+ launches in total backlog. Management guided Q3 2026 revenue to $250–265 million and announced the acquisition of Iridium Communications to create a vertically integrated space enterprise spanning design, manufacturing, launch, and satellite operations. Rocket Lab also closed acquisitions of Mynaric and Motiv, secured a $397 million contract to deliver spacecraft for the U.S. Space Force's Space-Based Airborne Moving Target Indicator program, and advanced Neutron medium-lift reusable rocket toward Q4 2026 pad delivery.
Tone: bullishRevenue
$601.8M
RKLB 10-K · FY 2025
Employees
2,600
Revenue FY2024
$436.2M
Founded
2006
Profile
RKLB 10-K Item 1 · Feb 26, 2026Rocket Lab is an end-to-end space company that designs, manufactures and launches small orbital rockets, spacecraft and spacecraft components for commercial and government customers. The company operates two primary business segments — Launch Services and Space Systems — supported by multiple launch complexes and a deeply vertically integrated manufacturing base. It is developing Neutron, a medium-lift reusable launch vehicle, to expand its addressable market beyond the small spacecraft segment.
Read filing description ↓ Collapse description ↑
Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, optical systems and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. We provide customers with frequent, reliable and cost-effective access to orbit with Electron, a fully carbon composite launch vehicle powered by Rutherford, our electric turbopump 3D printed engines. Since our first Electron launch in 2017 through December 31, 2025, we have delivered over 200 spacecraft to orbit across 75 successful missions for commercial and government customers, including the United States Department of War, NASA, DARPA, the NRO, and a number of domestic and international commercial spacecraft operators. In 2025, Electron was the second most frequently launched orbital rocket. Consistent with our endeavor to provide end-to-end space solutions for our customers, Rocket Lab has expanded beyond launch services into space systems, delivering spacecraft design services, spacecraft components, spacecraft manufacturing, optical systems and other spacecraft and on-orbit management solutions. Our space systems business utilizes our launch services, merchant spacecraft components, spacecraft design services, our family of spacecraft products, partnerships with global ground network service providers, as well as our own ground station network, and on-orbit constellation management capabilities to provide customers complete solutions that encompass design, build, launch and on-orbit operations. We are also developing Neutron, a medium-lift reusable launch vehicle anticipated to carry approximately 13,000 kg to low Earth orbit, tailored for large constellation deployments, interplanetary missions and potentially human spaceflight.
Primary products
- Electron (orbital small launch vehicle)
- Neutron (medium-lift launch vehicle, in development)
- HASTE (Hypersonic Accelerator Suborbital Test Electron)
- Photon (spacecraft platform)
- Reaction wheels
- Star trackers
Business segments
End markets
Geographies
Named customers
We derive a substantial amount of our revenues from only a few of our customers. A loss of, or default by, one or more of these major customers, or a material adverse change in any such customer's business or financial condition, could materially reduce our future revenues and contracted backlog.
Named competitors
“We believe that we compete favorably across these factors.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $436.2 million in 2024 to $601.8 million in 2025, driven by growth in both product and service revenues across Launch Services and Space Systems.
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