RKLB 8-K — Smart Summary

Rocket Lab Corporation reported record first quarter 2026 financial results for the period ended March 31, 2026, surpassing all guidance metrics including revenue, margin, and Adjusted EBITDA. Total revenues reached $200.3M, a 63.5% increase YoY, with backlog of $2.2B and access to more than $2 billion in total liquidity. The company also closed the Mynaric acquisition, signed a definitive agreement to acquire Motiv Space Systems, and provided Q2 2026 guidance for another record revenue quarter.

• Total revenues: $200.3M in Q1 2026 vs. $122.6M in Q1 2025, +63.5% YoY
• Product revenues: $127.5M vs. $80.8M YoY; Service revenues: $72.9M vs. $41.8M YoY
• GAAP Gross profit: $76.5M vs. $35.2M YoY; GAAP Gross margin: 38.2% (record)
• Non-GAAP Gross profit: $86.1M vs. $41.0M YoY; Non-GAAP Gross margin: 43.0% vs. 33.4% YoY
• GAAP Operating loss: $(56.0M) vs. $(59.2M) YoY (improved)
• Non-GAAP Operating loss: $(19.0M) vs. $(35.8M) YoY (improved)
• Net loss: $(45.0M) vs. $(60.6M) YoY; Basic and diluted EPS: $(0.07) vs. $(0.12) YoY
• Adjusted EBITDA: $(11.8M) vs. $(30.0M) YoY (improved)
• Net cash used in operating activities: $(50.3M) vs. $(54.2M) YoY

• Product revenues: $127.5M in Q1 2026 vs. $80.8M in Q1 2025, +57.8% YoY
• Service revenues: $72.9M in Q1 2026 vs. $41.8M in Q1 2025, +74.4% YoY
• No further breakdown by named business segment was provided in the press release

• Cash and cash equivalents: $1,205.5M as of March 31, 2026, up from $828.7M as of December 31, 2025
• Marketable securities (current + non-current): $177.9M + $93.5M = $271.3M as of March 31, 2026
• Total liquidity access: more than $2 billion
• Proceeds from ATM Equity Offerings in Q1 2026: $450.3M (net of $4.7M issuance costs)
• Convertible senior notes, net: $36.9M as of March 31, 2026, down from $152.4M as of December 31, 2025
• Common shares issued: 621,718,750 at March 31, 2026 vs. 589,525,802 at December 31, 2025
• No dividends or share buybacks mentioned in the press release

• "Rocket Lab has delivered another exceptional quarter with record financial performance of more than $200 million in revenue, consistent execution across launch and space systems programs, a record number of significant new contracts signed, and strategic acquisitions secured. We exited the quarter with $2.2 billion in backlog and currently have access to more than $2 billion in liquidity, putting us in a very strong position for continued growth and M&A execution." (CEO/management, press release)
• "Rocket Lab's tailwinds are strong. We're already embedded in the most demanding and significant space programs of our generation and we're in an incredibly strong position to continue expanding this." (CEO/management, press release)

• Q2 2026 revenue guidance: between $225 million and $240 million (another record)
• Q2 2026 GAAP Gross Margins: between 33% and 35%
• Q2 2026 Non-GAAP Gross Margins: between 38% and 40%
• Q2 2026 GAAP Operating Expenses: between $138 million and $144 million
• Q2 2026 Non-GAAP Operating Expenses: between $120 million and $126 million
• Q2 2026 Interest Income, net: $12.5 million
• Q2 2026 Adjusted EBITDA loss: between $20 million and $26 million
• Q2 2026 Basic Weighted Average Common Shares Outstanding: 629 million, including approximately 46 million of Series A Convertible Participating Preferred Shares
• Stock-based compensation expected to range from $19 million to $21 million in Q2 2026