The business operates in two segments Launch Services and Space Systems. The company is increasingly tied into large, longer-term commercial and defense contracts while also gaining index inclusion and fresh analyst support after a period of sentiment-driven volatility. Rocket Lab has acquired seven companies including Sinclair Interplanetary in April 2020, Advanced Solutions Inc. in October 2021, Planetary Systems Corporation in December 2021, SolAero Holdings Inc. in January 2022, Geost LLC in August 2025, Mynaric AG in April 2026, and Motiv Space Systems in May 2026.
Cyborg Score Rationale
Record quarterly revenue of $200.3M (63.5% YoY increase), record GAAP gross margin of 38.2%, record backlog of $2.2B, and record new launch contracts with Rocket Lab selling more launches in Q1 2026 than in the full year 2025. Analyst price target has shifted from $105.00 to about $149.03 as analysts point to industry launch under supply, expanding backlog, infrastructure advantages, and a core business closer to profitability.
Top Insights
Record Q1 2026 performance with 31 new Electron and HASTE contracts plus five new dedicated Neutron launches signed, outpacing full year 2025 activity in a single quarter.
Market cap of $67B as of June 18, 2026, with trailing 12-month revenue of $680M as of March 31, 2026.
Achieved 21 Electron missions flown in 2025 with 100% mission success, including a new quarterly record of seven missions in Q4 2025.
Strategic acquisitions in 2025-2026 (Geost, Mynaric, Motiv Space Systems) expand capabilities in avionics, optical communications, and satellite components.
Named Competitors
Falcon 9 / Starship — Leading orbital launch provider with reusable heavy-lift and future super-heavy capability
Delta IV / Atlas V — Joint venture providing government-certified heavy-lift launch services
Minotaur / Launch Services — Aerospace and defense with launch and space systems portfolio
Space Launch System — Aerospace and defense company providing NASA SLS integration
Relativity Space Platform — 3D-printed launch vehicle developer for small-lift missions
Recent Developments
(May 2026) Acquisition of Motiv Space Systems to expand satellite propulsion and in-space manufacturing capabilities
(April 2026) Acquisition of Mynaric AG to integrate optical laser communications technology
(Q1 2026) Record quarterly revenue of $200.3M with 38.2% GAAP gross margin; record $2.2B backlog and 31 new Electron/HASTE contracts signed
(Q4 2025) Seven Electron missions launched in single quarter (new record); 21 total Electron missions in 2025 with 100% mission success
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