Rocket Lab (RKLB) will report its second-quarter 2026 results after the U.S. market closes on Monday, August 10. Wall Street expects revenue of about $231.6 million (up roughly 60% YoY) and a loss of $0.06 per share. Rocket Lab guided for second-quarter revenue of $225 million to $240 million, placing Wall Street’s estimates near the middle of that range.
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Investors will want to know whether Rocket Lab’s growing Space Systems business can continue supporting investment in the Neutron rocket. Another focus will be whether the company keeps its adjusted EBITDA loss within management’s guidance of $20 million to $26 million.
Space Systems Remains the Main Growth Business
Space Systems is expected to remain Rocket Lab’s largest business this quarter. The segment generated $136.7 million in revenue during the first quarter, accounting for most of the company’s sales. Profitability will also be in focus. Rocket Lab expects GAAP gross margins of 33% to 35% and non-GAAP gross margins of 38% to 40%.
Investors will also be looking for updates on recent acquisitions. Rocket Lab bought laser-communications company Mynaric and space robotics company Motiv to bring more technology in-house. Management believes that should help protect margins over time.
Neutron Remains the Biggest Catalyst
Neutron is Rocket Lab’s next-generation medium-lift rocket. It would allow the company to compete for larger commercial launches and government missions than Electron can handle today.
Management is expected to provide updates on Archimedes engine qualification testing. Investors will also watch progress at the Wallops Island launch site.
Another important update is the launch timetable. Rocket Lab has said Neutron remains on track for its first flight by year-end. The company has already signed five commercial launch agreements for the rocket.
Defense Business Continues Building the Backlog
Rocket Lab entered the quarter with a record $2.2 billion backlog. That was up more than 20% from the previous quarter. The company also had more than $2 billion in total liquidity.
Investors will be watching how quickly that backlog turns into revenue. Government contracts remain an important part of the business. They include national security programs and hypersonic test missions using the HASTE rocket.
Is RKLB a Good Stock to Buy?
Overall, Wall Street has a Strong Buy consensus rating on Rocket Lab stock based on 14 Buys and four Holds. The average RKLB stock price target of $111.13 indicates 57.78% upside potential.
