RKLB
Rocket Lab Q2 FY26 earnings
Revenue $234M, up 62% from a year ago. Net loss $49M.
Rocket Lab grew revenue 62% to $234M; Space Systems, 81% of revenue, grew 94% to $189M, and Launch Services carried the rest. The quarter closed at a net loss of $49M, $17M narrower than a year earlier.
In 2025 a launch brought $8.5M and cost $4.8M.
In 2025 an Electron launch brought in $8.5M of revenue and cost $4.8M. In 2023 those figures were $7.1M and $7.0M, nearly break-even.
Cadence: 9 launches in 2022 became 21 in 2025.
Rocket Lab launched 21 Electrons in 2025, after 16 in 2024, 10 in 2023 and 9 in 2022.
Where the revenue came from
| Segment | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| Space Systems | $189M | 81.0% | +94% |
| Launch Services | $45M | 19.0% | -4% |
The quarter, line by line
| Line | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| Revenue | $234M | +62% | |
| Cost of revenue | $149M | 63.9% | +52% |
| Gross profit | $85M | 36.1% | +82% |
| Operating expenses | $142M | 60.7% | +34% |
| Operating income | -$58M | -24.6% | |
| Pretax income | -$44M | -18.8% | |
| Income tax | $5M | 2.3% | +81% |
| Net income | -$49M | -21.0% |
The last 8 quarters
| Quarter ended | Revenue | Net income | Net margin |
|---|---|---|---|
| Jun 30, 2026 | $234M | ($49M) | (21.0%) |
| Mar 31, 2026 | $200M | ($45M) | (22.5%) |
| Dec 31, 2025 | $180M | ||
| Sep 30, 2025 | $155M | ($18M) | (11.8%) |
| Jun 30, 2025 | $144M | ($66M) | (46.0%) |
| Mar 31, 2025 | $123M | ($61M) | (49.5%) |
| Dec 31, 2024 | $132M | ||
| Sep 30, 2024 | $105M | ($52M) | (49.6%) |