Rocket Lab Corporation

RKLB Industrials Aerospace & Defense

Rocket Lab Corporation’s revenue for fiscal 2025 (year ended December 2025) was $601.8 million, up 38.0% from fiscal 2024.

Revenue
+62.0%
EPS
+38.5%
Free cash flow
−99.7%
Total debt
−93.2%

Quarter to June 2026, against a year earlier

52.00 2.43 −4.46%
Market cap
$32.6B
P/E
0.0×
Fwd P/E
−199×
Dividend yield
—
F-score
5/9
Altman Z
36.71
Beneish M
−2.24
Dividend safety
n/a

Rocket Lab Corporation (RKLB) Earnings & Analysis

Updated · Covers results through Q2 FY2026 · How this is made

Latest quarter

Rocket Lab reported Q2 FY2026 revenue of $234.1 million, above the consensus of $231.6 million. Adjusted earnings per share of −$0.03 matched the consensus, while diluted earnings per share were −$0.08, compared with −$0.13 a year earlier.

Revenue rose 62.0% from $144.5 million a year earlier. The filing attributes the increase to space systems, where revenue grew by $91.6 million, primarily from spacecraft manufacturing and acquisitions. Launch services revenue fell by $2.1 million, primarily because of the timing of revenue recognition, even though Rocket Lab completed six Electron missions in the quarter, compared with five a year earlier. The filing says revenue from two of the six missions was recognized over time and partly in prior quarters.

Rocket Lab’s gross margin rose to 36.1% from 32.1%, and its operating margin was −24.6%, compared with −41.3% a year earlier. Free cash flow was −$110.1 million, compared with −$55.2 million a year earlier.

Q2 FY2026 Q2 FY2025 Change
Revenue $234.1 million $144.5 million 62.0%
Diluted EPS −$0.08 −$0.13 —
Gross margin 36.1% 32.1% 4.0 percentage points
Operating margin −24.6% −41.3% 16.7 percentage points
Free cash flow −$110.1 million −$55.2 million —
Against the consensus Reported Consensus Result
Adjusted EPS −$0.03 −$0.03 In line
Revenue $234.1 million $231.6 million Beat by 1.08%

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

Rocket Lab’s latest earnings call is not available, so its call commentary cannot be reported.

Guidance

Rocket Lab’s published outlook for Q3 FY2026 is presented in the guidance table. The latest earnings call is not available, so any outlook given on the call cannot be reported.

Metric For Guide Previous guide Change
EBITDA, non-GAAP Q3 FY2026 −$23.0 million–−$17.0 million — New
Operating expenses, non-GAAP Q3 FY2026 $121.0 million–$127.0 million — New
Operating expenses, GAAP Q3 FY2026 $143.0 million–$149.0 million — New
Gross margin, non-GAAP Q3 FY2026 35.0%–37.0% — New
Gross margin, GAAP Q3 FY2026 29.0%–31.0% — New
Revenue Q3 FY2026 $250.0 million–$265.0 million — New