【Space Stocks】Rocket Lab's earnings surge over 30% to a new high, order backlog doubles

Space launch and aerospace systems company Rocket Lab (US: RKLB) announced its first-quarter earnings, causing its stock price to surge. It closed at $105.47 on Friday, up 34%, reaching a new all-time high. Rocket Lab’s first-quarter revenue grew 63.5% year-over-year to $200.3 million, surpassing market expectations of approximately $190 million; non-GAAP gross margin was 43%. During the period, net loss was $45.02 million, or a loss of $0.07 per share, narrowing from a loss of $0.12 per share in the same period last year.

The company’s second-quarter revenue guidance ranges from $225 million to $240 million, above market expectations of about $207.5 million. Rocket Lab stated that its backlog of orders reached $2.2 billion in the first quarter, a 20.2% quarter-over-quarter increase and more than doubling year-over-year.

Largest Launch Contract in History — Neutron Demand Heating Up

In the first quarter, Rocket Lab signed 31 new contracts for Electron and HASTE rockets, and also signed 5 exclusive launch contracts for Neutron. The company indicated that the number of launch contracts signed in the first quarter alone exceeded the total for the entire previous year, with a current total launch mission list of over 70.

The company also announced the signing of the largest launch contract in history with a confidential client, involving 5 Neutron rocket launches and 3 Electron rocket launches, with service extending to 2029. Neutron is a medium-sized reusable rocket under development by Rocket Lab, seen as a key product for the company to enter larger launch markets and challenge SpaceX’s dominant position.

Recently, Rocket Lab has also been driven by U.S. defense and space security needs. The company stated it has been selected to collaborate with Raytheon to support the U.S. “Golden Dome for America” space interceptor project. The company also announced plans to acquire space robotics company Motiv Space Systems to strengthen capabilities in space robotics, precision mechanisms, and motion control systems.

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