EarningsQ2 2026 Earnings Report
MX:RKLB Q2 2026 EPS Results
Actual EPS-$1.44
Consensus EPS-$1.04
Beat/MissMissed by -$0.40
One Year Ago EPS-$2.34
MX:RKLB Q2 2026 Revenue Results
Actual Revenue$4.20B
Expected Revenue$4.16B
Beat/MissBeat by +$43.86M
YoY Revenue Growth+61.99%
Earnings Announcement Details
QuarterQ2 2026
Date08/10/2026
TimeAfter Close
Conference CallMonday, August 10, 2026
MX:RKLB Upcoming Earnings
Rocket Lab USA's next earnings date is estimated for November 16, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RKLB Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed strong commercial momentum and operational execution: record revenue, sizable bookings and backlog, margin outperformance in Q2, robust liquidity and meaningful progress on Neutron development and strategic M&A (Mynaric, Motiv, pending Iridium). Offsetting risks include elevated cash burn and negative free cash flow driven by Neutron tail production and R&D, a sequential decline in Launch Services revenue due to accounting mix, margin pressure from recent acquisitions and schedule risk for Neutron's first flight. On balance, the positive commercial wins, backlog, margin beats and cash position outweigh the near-term cash and schedule pressures.Company Guidance
Record Revenue and Strong Growth
Q2 revenue of $234.0M, a record quarter: +62% year-over-year and +16.8% sequentially; revenue was within prior guidance and represented broad contribution from both Launch and Space Systems segments.
Large Bookings and Robust Backlog
Signed more than $437M in launch bookings and $581M+ in Space Systems contracts in Q2 and post-quarter; ended Q2 with ~$2.36B backlog (≈40% launch, ≈60% Space Systems) and signed >$1B in new contracts across Q2 and post-quarter.
Major Contract Wins
Won a record $266M Space Force contract for up to 18 suborbital (missile defense) missions and a $397M contract to build and launch multiple Flatellite spacecraft for the Space Force; also signed >$160M for three GEO satellites (including two GEOs for Space Systems Command).
Space Systems Surge
Space Systems revenue of $189.5M in Q2, up +38.6% sequentially, driven by satellite manufacturing and initial contribution from Mynaric.
Launch Demand, Backlog and Operational Success
Launch backlog grew to 90+ launches post-quarter with 26 new launches booked in Q2; 13 launches year-to-date with 100% mission success; record VICTUS HAZE tactical mission performance (electron to orbit in 16h42m vs 24h target; spacecraft commissioned in 38h vs 72h).
Neutron Development Progress
Neutron production and test progress: delivery to pad targeted for Q4 2026, >400 hot fires completed on Archimedes engines, full engine set in production and assembly work progressing on Stage 1, Stage 2 and thrust module; 'Hungry Hippo' and other components nearing integration.
Profitability and Margin Beats
GAAP gross margin 36.1% and non-GAAP gross margin 41.5% for Q2 — both above prior guidance ranges; adjusted EBITDA loss improved to -$8.8M (better than guidance of -$20M to -$26M) and improved sequentially by $2.9M.
Strong Liquidity Position
Ending cash, cash equivalents, restricted cash and marketable securities of approximately $2.4B at quarter end; proceeds of $1.08B were raised via an at-the-market equity program during the quarter (later terminated) to fund M&A and growth investments.
Strategic M&A and Vertical Integration
Closed acquisitions of Mynaric and Motiv in the quarter and announced intent to acquire Iridium (expected mid-2027), which would add ~66-satellite constellation, ~2.5M subscribers and ~$870M annual revenue as a foundation for space applications and recurring revenue.
MX:RKLB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed