
• Reported GAAP EPS of -$0.09 up 10.00% YoY • Reported revenue of $179.65M up 35.70% YoY • Rocket Lab expects Q1 2026 revenue between $185M and $200M, targeting GAAP Gross Margins of 34% to 36% and an Adjusted EBITDA loss of $21M to $27M.
Bullish
Rocket Lab delivered record quarterly and annual revenue, with backlog growing 73% year-on-year. The company achieved a new launch record and secured a significant $816M prime contract.
Bearish
Rocket Lab faces continued net losses, with a projected Q1 2026 Adjusted EBITDA loss, and a delay in Neutron's first launch to Q4 2026 due to a tank test failure.