RKLB Nasdaq NASDAQ-100Russell 1000 Earnings call
Rocket Lab
Results Q2 2026 vs Q1 2026 · previous quarter · published 10 Aug 2026 and 8 May 2026
Net loss widened on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
1 · Numbers
Loss widened
Net income vs Q1 2026
Outlook given
Net income -49.3M vs -45.0M
Revenue +16.8%
2 · How management spoke
Typical
Less upbeat than 58% of company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Guidance
Looking ahead, Rocket Lab expects approximately 45.5% of its current backlog to convert into revenue within the next 12 months.
Read between the lines
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Guidance
As Rocket Lab progresses towards Neutron's first flight, it expects capital expenditures to remain elevated as it invests in testing, production scaling and infrastructure expansion.
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Figure
Rocket Lab achieved a record $234 million in Q2 revenue, up almost $90 million or 62% versus the same quarter last year.
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Fading
GAAP gross margin for the first quarter was 38.2%, up slightly sequentially and above Rocket Lab's prior guidance range of 34%…
Source quote
“GAAP gross margin for the first quarter was 38.2%, up slightly sequentially and above our prior guidance range of 34%... Now turning to gross margin. Non-GAAP gross margin for the...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“We continue to see exceptional revenue growth across the business, all while maintaining robust liquidity to fund future growth initiatives.”
“We exited Q2 in a strong position to execute on both organic and inorganic growth initiatives and to further vertically integrate our supply chain, expand strategic capabilities and grow our...”
“Second quarter 2026 revenue was a record $234 million, which was within our prior guidance range and reflects significant year-over-year growth of 62% and 16.8% sequentially and driven by strong...”
Numbers
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 234.1M | 200.3M | +16.8% | 144.5M | +62.0% |
| Gross profit | 84.6M | 76.5M | +10.6% | 46.4M | +82.3% |
| Operating income | -57.5M | -56.0M | Loss widened | -59.6M | Loss narrowed |
| Net income | -49.3M | -45.0M | Loss widened | -66.4M | Loss narrowed |
| EPS | -0.08 | -0.07 | Loss widened | -0.13 | Loss narrowed |
Topics
Most discussed now
- They will be discussing key business highlights, including updates on Rocket Lab's launch Space Systems programs as well as its pending...
- Quarter for strategic acquisitions, having closed Mynaric and Motiv and of course, announcing Rocket Lab's intentions to acquire Iridium…
- Rocket Lab ended the quarter with a $2.36 billion in backlog and across launch in Space Systems, it has signed more than...
- Rocket Lab's Space Systems business continues to perform exceptionally well and provides comforting diversification alongside its robust…
- Clearly, you've seen the strain in the launch industry right now and the need, not just for new vehicles, but...
Faded since Q1 2026
- Fading For launch, Rocket Lab has Electron, the world's leading small launcher alongside HASTE, which is delivering critical hypersonic test…
- Fading If you look at what that does to overall operating margins, it will be accretive to that.
- Fading The commercial space stations got completely changed.
- Fading Rocket Lab will actually be very efficient and go after it organically as well, which it thinks yields great benefits for its...