FINANCE NOTE

Rocket Lab (NASDAQ: RKLB) — Q2 2026 Post Earnings

Operations

As of August 12, 2026
Q2 Revenue ↑ 62% YoY $234.1M
Divisions
Launch Services 19.0%
Space Systems 81.0%

Key Earnings Driver

Spacecraft Manufacturing Launch Services declined 4% year over year to $44.6M while Space Systems revenue increased 94% to $189.5M. Within Space Systems, Products revenue was $181.4M and Services revenue was $8.1M. Space Systems revenue increased primarily due to spacecraft manufacturing growth and acquisitions. Launch Services revenue decreased primarily due to revenue recognition timing.

Key Operating Metrics¹

METRIC

STATUS

Launch Services↓ 4%

🟡 Watch

Space Systems↑ 94%

Products

Spacecraft manufacturing

🟢 Scaling

Key Financial Metrics

Gross Margin 36.14% +4.03 pp YoY
Backlog / Revenue 1,008.0% 10.08x Qtr Rev
CapEx Intensity 11.11% 0.11x Revenue

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from Rocket Lab website and/or SEC filings for Q2, with status based on reported data.