Rocket Lab reports $200.3 million in Q1 revenue, a 63.5% year-over-year increase, with a record $2.2 billion backlog.
Rocket Lab (NASDAQ: RKLB) shares have climbed nearly 80% year to date, driven by strong financial performance. The company reported Q1 revenue of $200.3 million, up 63.5% from the same period last year, and a record backlog of $2.2 billion, a 20.2% quarter-over-quarter increase.
The aerospace firm’s growth is fueled by its expanding satellite and spacecraft components business, which accounted for 68% of Q1 revenue. Rocket Lab’s Electron rocket remains the most frequently launched small rocket, while its HASTE rocket supports hypersonic test launches for U.S. government contracts. The company sold more launches in Q1 than in all of 2025.
Investors are weighing Rocket Lab’s performance against SpaceX’s upcoming IPO, which is expected to value the company at around $1.75 trillion. Rocket Lab’s stock remains accessible to investors ahead of SpaceX’s market debut.