May 11, 2026, 13:12 PDT—Long Beach, California.
- Rocket Lab shares climbed roughly 11% in Monday afternoon trading, building on Friday’s sharp 34% surge.
- The company broke past $200 million in quarterly revenue for the first time, and is now projecting a stronger second quarter.
- Fresh defence and launch deals put the spotlight on Neutron, Golden Dome, and Rocket Lab as their profile rises alongside bigger space contractors.
Rocket Lab shares pushed higher on Monday, building on a steep surge after the Kiwi-founded space company posted record revenue, a rising backlog, and new U.S. defense contracts for missile defense and hypersonic test work. By Monday afternoon on the Nasdaq, the stock changed hands at $117.14, up roughly 11%. Earlier in the session, it hit $123.82.
Investors are starting to see Rocket Lab as more than just a small-launch specialist—it’s now looking more like a defense and space contractor positioned to tap into U.S. budgets. First-quarter revenue jumped 63.5% from a year ago to $200.3 million. The backlog has swelled to $2.2 billion, and guidance for the second quarter puts revenue between $225 million and $240 million.
That deal bolsters Rocket Lab’s position ahead of Neutron’s debut—the company’s much-anticipated, larger reusable rocket meant to haul medium-class payloads and take on the segment where SpaceX’s Falcon 9 still dominates. Rocket Lab disclosed that an undisclosed customer signed up for five Neutron flights plus three Electron launches, with missions set between 2026 and 2029. It’s the largest launch agreement in Rocket Lab’s history.
Rocket Lab stock soared 34.3% on Friday, hitting a record high after its earnings, according to the New Zealand Herald. Speaking with analysts, founder and CEO Sir Peter Beck said the company landed a spot on the Space-Based Interceptor program under Golden Dome, describing it as one of the United States’ most important national security efforts.
Golden Dome, the Trump administration’s vision for a U.S. missile-defense shield, is back in the headlines. Rocket Lab and Raytheon—Raytheon operating under RTX—landed a spot to demonstrate new tech for the U.S. Space Force’s Space-Based Interceptor program. “A proven team,” promised Rocket Lab USA president Brad Clevenger as the partnership takes shape. GlobeNewswire
The company picked up a $30 million deal from defence tech player Anduril, locking in three HASTE hypersonic test launches out of Virginia. HASTE—a reworked Electron vehicle—handles suborbital tests at hypersonic speeds, meaning anything above Mach 5. Rocket Lab’s Beck described it as “bridging the gap” with Anduril, moving from pure research toward actual operational use. GlobeNewswire
Rocket Lab is sitting on a launch backlog of over 70 missions. During the earnings call, executives pointed out that HASTE now makes up close to a third of that tally—thanks in large part to a $190 million, 20-launch contract tied to Kratos and the Department of War’s MACH-TB hypersonic test program.
Rocket Lab is picking up Motiv Space Systems, a robotics and spacecraft mechanisms outfit out of Pasadena, California. The company says the acquisition means it can make in-house hardware like solar array drive assemblies—plus other specialized components that typically carry a hefty price tag or are tough to find in bulk for large satellite constellations.
Growth didn’t hinge solely on launches. According to a regulatory filing, space systems revenue jumped 57% to $136.7 million for the quarter. Launch services pulled in $63.7 million, up 79%, lifted by six Electron missions, pricier launches, and HASTE activity.
The stock’s surge doesn’t leave much margin for error. Rocket Lab remains in the red, posting a $45.0 million net loss for the first quarter. According to its filing, both revenue and profit could fluctuate if costs change, schedules get pushed back, or the company hits delays on contract milestones. Neutron is at the heart of Rocket Lab’s pitch, but management has warned that any additional setbacks or holdups could drive costs up even more.
Rocket Lab’s balance sheet offers a cushion: $1.2 billion in cash and cash equivalents, plus another $271.3 million parked in marketable securities as of March 31. Management expects that pile to last through at least the next 12 months of working capital and capex needs. For the quarter, the company burned through $50.3 million in operating cash.
Right now, investors are favoring Rocket Lab’s contract wins despite the losses. The real challenge comes next: converting a busy launch schedule and military interest into consistent flights—and getting Neutron to the launchpad before hype outpaces what they can actually deliver.
