Rocket Lab’s revenue tops estimates at $136.7 million
Rocket Lab’s stock surged 30% to a record high after the company reported strong first-quarter revenue. The space systems business generated $136.7 million in revenue, while the launch segment reported $63.7 million.
The company’s backlog more than doubled from a year ago to $2.2 billion. Guidance for the second quarter also surpassed estimates, with revenue expected to be between $225 million and $240 million.
Rocket Lab signed its largest contract ever with a confidential customer for its Neutron and Electron rockets through 2029. The company is also buying space robotics maker Motiv Space Systems.
The demand for space systems and satellites is escalating, driven by projects like NASA’s crewed Artemis missions and President Donald Trump’s Golden Dome project.