First-quarter revenue surged 63.5% year-over-year, exceeding Wall Street forecasts by $10.6 million.
Rocket Lab reported first-quarter revenue of $200.3 million, a 63.5% increase from the same period last year and above the $189.68 million analysts expected. The company narrowed its net loss to $45 million, or seven cents per share, from $60.6 million in Q1 2025.
GAAP gross margin improved to 38.2%, while adjusted EBITDA showed a loss of $11.8 million. Backlog rose 20.2% sequentially to $2.2 billion, with total liquidity exceeding $2 billion. The company secured 31 new launch contracts and five Neutron rocket agreements in the quarter.
Rocket Lab guided second-quarter revenue between $225 million and $240 million, above the $205.05 million consensus estimate. Adjusted EBITDA loss is projected at $20 million to $26 million for the period.