Rocket Lab Corp. (RKLB)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$769.1M

Revenue growth

52.5%

Net income, last twelve months

-$165.5M

Earnings per share

-$0.27

Gross margin

37.3%

Operating margin

-29.1%

Net margin

-21.5%

Free cash flow

-$371.1M

Return on equity

-4.7%

Market value

$35.1B

Cash

$2.1B

Debt

$14.8M

Debt to equity

0.00

Shares outstanding

598.2M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 10 August 2026.

• Record revenue, up 62% year over year. Revenue was $234.1 million, against $144.5 million a year earlier and $200.3 million in Q1. Product revenue was $181.3 million and service revenue $52.7 million.
• Net loss narrowed year over year. Net loss was $49.3 million, or $0.08 per basic and diluted share, against $66.4 million, or $0.13, a year earlier. Operating loss was $57.5 million.
• Q3 revenue range given. Q3 2026 revenue is expected between $250 million and $265 million, following a Q2 2026 revenue of $234.1 million.
• Adjusted EBITDA loss narrowed. Adjusted EBITDA loss was $8.8 million, against $27.6 million a year earlier and $11.8 million in Q1.
• Germany subsidiary formed. Rocket Lab Germany GmbH was formally established to support possible future scaling of satellite and component manufacturing in Germany and to serve European customers.
• European footprint from Mynaric. The Q1 release said the Mynaric acquisition established Rocket Lab's first European footprint, through Rocket Lab Europe.
• No segment or regional split given. The release reports revenue only as product and service lines; no segment or regional revenue split is given.
• Space Force SB-AMTI award. Contract for Flatellite spacecraft on Neutron for SB-AMTI, including options. The company says it is one of two vendors delivering launch plus spacecraft for the program.
• First geostationary satellite contracts. Two contracts for three geostationary satellites, including a Space Systems Command prime contract for two satellites for space domain awareness, described as a first for US government geostationary work.
• GHOST launch system and Alaska site. GHOST is a globally deployable launch system. Its first location, Rocket Lab Launch Complex 4 at Kodiak, will have two pads for high-frequency launch campaigns.
• Neutron first-flight hardware milestones. Assembly, integration and testing of first-flight Neutron hardware reached critical milestones, according to the release.
• Neutron pad delivery targeted for Q4 2026. Stage 1 tank production is aligned with the target delivery of Neutron to the launch pad in Q4 2026.
• GAAP gross margin about 36%. GAAP gross profit was $84.6 million, about 36.1% of revenue, against $46.4 million (about 32.1%) a year earlier and 38.2% in Q1. Non-GAAP gross margin was 41.5%.
• Q3 gross margin range lower. Q3 2026 GAAP gross margin is expected between 29% and 31%, and non-GAAP gross margin between 35% and 37%.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 88 held.

Every filing

The newest filings with the SEC of 226 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

1,196 funds held it at 30 Jun 2026: 766 added and 234 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Lockheed Martin Corp. (LMT): revenue $79.1B, market value $145.6B
• Kratos Defense & Security Solutions, Inc. (KTOS): revenue $1.5B, market value $7.7B
• Firefly Aerospace Inc. (FLY): revenue $287.0M, market value $3.3B
• Redwire Corp. (RDW): revenue $426.3M, market value $2.2B
• Voyager Technologies, Inc. (VOYG): revenue $174.2M, market value $1.6B

What the company does

Rocket Lab Corp is a space company that designs and manufactures rockets, spacecraft and spacecraft components, and sells launch services. Its Electron rocket had completed 75 successful missions and delivered over 200 spacecraft to orbit through 31 December 2025, for government and commercial customers. The company also has flight hardware on over 1,800 missions. It had over 2,600 full-time permanent employees worldwide at that date. It is headquartered in Long Beach, California.

How the business is organised

Launch Services designs, builds and launches orbital rockets to place payloads into Earth orbit and onto interplanetary paths. Space Systems covers spacecraft, spacecraft components, program management services, space data applications, mission operations and optical systems. A single global business development team sells both and cross-sells between them. The company says this lets customers buy launch, spacecraft, ground services and on-orbit management from one source.

Revenue comes from long-term fixed price contracts for launches and spacecraft builds, and from purchase order based sales of components. Contracts for launches and spacecraft builds typically let customers terminate on notice and payment of a termination fee.

What it sells

Electron is a small orbital rocket, 18 meters tall and 1.2 meters in diameter, that carries spacecraft of up to 300 kg to low Earth orbit. It has two main stages and a kick stage, and is powered by ten Rutherford engines. The structures and tanks are carbon composite, and the engines are 3D printed. The kick stage can also work as a spacecraft on orbit. The company also flies HASTE, a suborbital version of Electron used for hypersonic test flights.

Neutron is a medium-lift, two-stage rocket still in development. The company describes a payload capacity of approximately 13,000 kg to low Earth orbit in a reusable configuration, and says its first launch is targeted for Q4 2026, with remaining development risk.

- Photon spacecraft, configurable for low, medium and geosynchronous Earth orbit and for interplanetary missions. - Components such as reaction wheels, star trackers, radios, separation systems, solar cells and arrays, and high voltage batteries. - Flight and ground software. - Optical systems: electro-optical and infrared sensor payloads for space domain awareness and missile warning and tracking. - Spacecraft design services and on-orbit constellation management.

Where it builds and launches

Rutherford engines and avionics are made in Long Beach. Auckland, New Zealand, hosts composite structures, batteries, vehicle integration and a propulsion test site about 45 km outside the city. Solar cells and arrays are made in Albuquerque, New Mexico, and optical systems in Tucson, Arizona. Engineering teams work in New Zealand, the United States and Canada.

Launch Complex 1 in Mahia, New Zealand, is a private site with two pads that can support up to 120 launches a year. Launch Complex 2 at NASA's Wallops Flight Facility in Virginia is licensed for 8 missions a year. Launch Complex 3, also at Wallops, is under construction for Neutron. The company says a treaty between the United States and New Zealand governments lets it use United States launch technology at Mahia.

Who buys from it

Launch customers include the United States Department of War, NASA, DARPA and the National Reconnaissance Office, along with commercial operators such as Blacksky Holdings, Canon, Kinéis, Capella Space, Planet, OHB Group and Synspective. More than 20 organizations have used its launch services. Space Systems customers are commercial companies, aerospace prime contractors and government agencies. In December 2025 the company signed an agreement with the Space Development Agency to build 18 satellites for the Tracking Layer Tranche 3 program.

The United States government can terminate its contracts for convenience or for default. The company lists dependence on a few customers as a risk.

How it competes

The company names four groups of competitors: - Launch providers, including Northrop Grumman, SpaceX, United Launch Alliance, Firefly and Blue Origin. - Companies reported to be planning new launch vehicles. - Spacecraft makers such as Airbus, Lockheed, Boeing and L3Harris. - Component suppliers such as Ball Aerospace, Honeywell Aerospace, Redwire and Beyond Gravity.

It lists the main competitive factors as flight heritage and reliability, delivery schedule, customization, performance, price and customer experience, and says it competes favorably on these. It reports that Electron was the second most frequently launched orbital rocket in 2025. It holds Category-1 certification from the NASA Launch Services Program.

Its components business grew through acquisitions: Sinclair Interplanetary, Advanced Solutions, Incorporated, Planetary Systems Corporation, SolAero Technologies Corp. and GEOST. Regulators that affect the business include the Federal Aviation Administration and the New Zealand Space Agency.

Its people

None of its employees are covered by collective bargaining agreements. The company runs an internship program and partners with schools and universities. It holds an annual Rocket Challenge, in which teams across its sites design and launch small rockets.

*From Rocket Lab's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1819994/000181999426000013/rklb-20251231.htm)*

From the company's 10-K.