Investing.com -- Rocket Lab Corp (NASDAQ:RKLB) reported second quarter results that missed earnings expectations despite posting record revenue, with shares falling 1.6% in after-hours trading Monday.
The space systems and launch services company reported an adjusted loss of $0.08 per share for the quarter ended June 30, missing the analyst consensus estimate of $0.06. Revenue reached a record $234.06 million, slightly exceeding the $232.06 million analyst estimate and marking a 62% increase YoY.
The company's backlog grew to a record $2.36 billion, up 137% YoY. Rocket Lab secured more than $437 million in new launch contracts during and after the quarter, expanding its total launch backlog to over 90 launches. The company also announced plans to acquire Iridium Communications Inc. and completed acquisitions of Mynaric and Motiv during the period.
"Q2 was another fantastic quarter for Rocket Lab, highlighted by record results and massive momentum that has continued well after the close," said Sir Peter Beck, founder and CEO. "We achieved a record $234 million in Q2 revenue - up 62% year-over-year and $34 million higher than last quarter's record - driven by surging demand across all areas of our business."
For the third quarter of 2026, Rocket Lab expects revenue between $250 million and $265 million, with a midpoint of $257.5 million well above the analyst consensus of $235.9 million. The company also expects an adjusted EBITDA loss of between $17 million and $23 million for the quarter.
The company achieved critical milestones on its Neutron medium-lift reusable rocket, with production of the Stage 1 tank aligned with the target delivery to the launch pad in the fourth quarter of 2026. Rocket Lab was awarded a $397 million contract to deliver multiple satellites for the U.S. Space Force's Space-Based Airborne Moving Target Indicator program.
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