Overview
- Investors sent the stock to fresh highs Friday following Thursday’s Q1 report, which beat forecasts with $200.3 million in revenue and guided Q2 to $225–$240 million.
- Quarterly gross profit reached $76.5 million with a 38.2% GAAP gross margin, marking a sharp improvement from a year ago.
- Backlog climbed to about $2.2 billion, up 20% from Q4, after 31 Electron and HASTE bookings and five Neutron missions including the company’s largest multi‑launch deal spanning 2026–2029.
- The company deepened its defense and systems push with Raytheon’s Space Based Interceptor work, a $30 million Anduril deal for three HASTE hypersonic test flights, the Mynaric purchase, and an agreement to buy robotics maker Motiv.
- Management said the Neutron medium‑lift rocket remains on track for a first launch later this year, while analysts caution the rich valuation heightens the risk from any delays or integration missteps.