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Rocket Lab's Q1 revenue hits $200.3M, driven by Space Systems, backlog tops $2.2B with strong Neutron launch contracts.

Market News
03 Jun 2026
Seeking Alpha
View Source
Bullish
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Rocket Lab reported a record $200.3 million in revenue for Q1, a 63.5% increase year-over-year, driven mainly by its Space Systems business generating $136.7 million compared to $63.7 million from launch services. The company’s backlog more than doubled to over $2.2 billion, fueled by strong demand for its Neutron rocket, which has secured five launch contracts despite not yet having flown. Analysts project Rocket Lab's 2027 revenue to reach $1.1-1.2 billion, supporting a valuation range of $120-140 per share. This growth highlights a significant shift in Rocket Lab's business model and positions it well ahead of the anticipated SpaceX IPO.

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