Overview
- The company reported record Q2 revenue of $234 million and a GAAP net loss of about $49 million after Tuesday's earnings release.
- Backlog climbed to a record $2.36 billion, with more than $1 billion in new contracts booked since quarter end and major awards including a $397.2 million U.S. Space Force Flatellite contract.
- Management set Q3 revenue guidance at $250 million to $265 million while forecasting a GAAP gross margin of 29% to 31%, a figure well below analyst expectations and a key reason shares fell about 8% in premarket trading.
- Rocket Lab expects to deliver Neutron hardware to the launch pad in Q4 2026 but said the window for a year‑end maiden flight is narrowing, and the company warned near‑term cash consumption will stay elevated for Neutron work and long‑lead SDA procurement.
- The firm has completed acquisitions of Mynaric and Motiv and plans to buy Iridium (expected to close mid‑2027), a strategy meant to add recurring services but one that has added integration complexity and near‑term margin pressure.