Rocket Lab (RKLB)

EX-99.1 2 rklb-08102026ex991.htm EX-99.1 Document MEDIA RELEASE Exhibit 99.1Rocket Lab Announces Second Quarter 2026 Financial Results Posts Record Revenue and Record Backlog, Guides To Another Record Revenue Quarter in Q3 2026Long Beach, California. August 10, 2026 Rocket Lab Corporation (Nasdaq RKLB), a global leader in launch services and space systems, today shared the financial results for fiscal second quarter ended June 30, 2026.Rocket Lab founder and CEO, Sir Peter Beck, says Q2 was another fantastic quarter for Rocket Lab, highlighted by record results and massive momentum that has continued well after the close. We achieved a record $234 million in Q2 revenue - up 62% year-over-year and $34 million higher than last quarter s record - driven by surging demand across all areas of our business. Q2 2026 saw our backlog grow to $2.36 billion another record which, combined with new deals in the period since, equates to more than $1 billion1 in new contracts across launch and space systems already entered into in Q3. Alongside this execution, we closed the acquisitions of Mynaric and Motiv and announced our historic deal to acquire Iridium Communications Inc. Together, these moves position Rocket Lab to accelerate our future into space applications by becoming a self-launching, tier-1 space power that will deliver critical communications capability to millions of users worldwide. Highlights for the Second Quarter 2026, plus business updates since June 30, 2026. Record quarterly revenue of $234 million, a 62% increase YoY. Record backlog of $2.36 billion a 137% increase YoY. Announced a landmark agreement to acquire Iridium to create a fully vertically-integrated space powerhouse that designs, builds, launches, and operates its own constellations, delivering critical communications capability to millions of users worldwide. Secured more than $437 million1 in new launch contracts across its Electron, HASTE, and Neutron launch vehicles during Q2 2026 plus post-quarter signings, expanding Rocket Lab s total launch backlog to its highest in history with 90+ launches. Introduced the Company s GHOST globally-deployable launch system to support suborbital and orbital launches from anywhere in the world. GHOST s first location named Rocket Lab Launch Complex 4 - will be at the Pacific Spaceport Complex at Kodiak, Alaska, with two pads to be established for high-frequency, launch campaigns. The system is set to make its operational debut with a suborbital launch from Alaska in 2027. Achieved critical milestones across Neutron s assembly, integration, and testing of first-flight hardware as Rocket Lab progresses toward the inaugural launch of its medium-lift reusable rocket. Production of the Stage 1 tank is currently aligned with the target delivery of Neutron to the launch pad in Q4 2026. Awarded a $397 million1 contract to deliver multiple Flatellite spacecraft to launch on Neutron for the U.S. Space Force s Space-Based Airborne Moving Target Indicator (SB-AMTI) program a critically-important mission for national security detect, track, and monitor airborne threats from space. Rocket Lab is one of only two vendors delivering launch-plus-spacecraft for SB-AMTI a compelling recognition of the value of Rocket Lab s strategic vertical integration. Awarded more than $160 million across two contracts to build three geostationary satellites. The deals include a prime contract with the Space Force s Space Systems Command to build and operate two satellites for space domain awareness, representing Rocket Lab s first foray into geostationary satellite production and operation for the U.S. Government.1 Includes options across various contracts.rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE Formally established Rocket Lab Germany GmbH to support potential future scaling of Rocket Lab satellite and component manufacturing in Germany and provide commercial and sovereign space capabilities to European customers. Third Quarter 2026 GuidanceFor the third quarter of 2026, Rocket Lab expects Revenue between $250 million and $265 million. GAAP Gross Margins between 29% and 31%. Non-GAAP Gross Margins between 35% and 37%. GAAP Operating Expenses between $143 million and $149 million. Non-GAAP Operating Expenses between $121 million and $127 million. Interest Income, net $21 million. Adjusted EBITDA loss of between $17 million and $23 million. Basic Weighted Average Common Shares Outstanding of 641 million, including approximately 41 million of Series A Convertible Participating Preferred Shares.See Use of Non-GAAP Financial Measures below for an explanation of our use of Non-GAAP financial measures, and the reconciliation of historical Non-GAAP measures to the comparable GAAP measures in the tables attached to this press release. We have not provided a reconciliation for the forward-looking Non-GAAP Gross Margin, Non-GAAP Operating Expenses or Adjusted EBITDA expectations for Q3 2026 described above because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. Stock-based compensation is currently expected to range from $18 million to $20 million in Q3 2026.Conference Call InformationRocket Lab will host a conference call for investors at 2 p.m. PT (5 p.m. ET) today to discuss these business highlights and financial results for our second quarter, other updates, and to provide our outlook for the third quarter 2026.The live webcast and a replay of the webcast will be available on Rocket Lab s Investor Relations website https investors.rocketlabcorp.com rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE Rocket Lab Investor Relations Contact Patrick Vorenkampinvestors rocketlabusa.comRocket Lab Media Contact Murielle Bakermedia rocketlabusa.comAbout Rocket LabRocket Lab (Nasdaq RKLB) is an end-to-end space company delivering rockets, satellites, and spacecraft components for commercial, government, and defense missions. Driven by its industry-leading small-lift rockets Electron and HASTE and its upcoming reusable Neutron medium-lift rocket, Rocket Lab delivers reliable and responsive launch for the world s most important missions from constellation deployment to missile defense. Rocket Lab s satellites and components have powered more than 1,700 missions in Earth orbit, as well as deep-space exploration of the Moon, Mars, and beyond. Learn more at www.rocketlabcorp.com.Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the Securities Act ) and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act ). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our expectations of financial results for the third quarter of 2026, launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development and anticipated timeline to launch, operational expansion, business strategy, our backlog, revenue momentum, and contract activity and the anticipated benefits or impacts of our acquisitions of Mynaric, Motiv, and the announced transaction involving Iridium Communications are forward-looking statements. The words believe, may, will, estimate, potential, continue, anticipate, intend, expect, strategy, future, could, would, project, plan, target, and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the SEC ), accessible on the SEC s website at www.sec.gov and the Investor Relations section of our website at www.investors.rocketlabcorp.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE Use of Non-GAAP Financial MeasuresWe supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America ( GAAP ) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company's ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliation of the non-GAAP financial information to the corresponding GAAP measures for the historical periods disclosed are included at the end of the tables in this press release. We have not provided a reconciliation for forward-looking non-GAAP financial measures because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. The following definitions are provided Adjusted EBITDAEBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from net income or loss to determine Adjusted EBITDA. Management believes this measure provides investors meaningful insight into results from ongoing operations.Other Non-GAAP Financial MeasuresNon-GAAP gross profit, gross margin, research and development, net, selling, general and administrative, operating expenses, operating loss and total other income (expense), net, further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from the applicable GAAP financial measure. Management believes these non-GAAP measures provide investors meaningful insight into results from ongoing operations. rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE ROCKET LAB CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSFOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025(unaudited in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues Product revenues $ 181,347 $ 92,725 $ 308,835 $ 173,529 Service revenues 52,719 51,773 125,579 93,538 Total revenues 234,066 144,498 434,414 267,067 Cost of revenues Cost of product revenues 117,439 61,692 198,523 115,561 Cost of service revenues 32,051 36,418 74,822 69,871 Total cost of revenues 149,490 98,110 273,345 185,432 Gross profit 84,576 46,388 161,069 81,635 Operating expenses Research and development, net 82,429 66,134 162,942 121,243 Selling, general and administrative 59,661 39,893 111,610 79,219 Total operating expenses 142,090 106,027 274,552 200,462 Operating loss (57,514) (59,639) (113,483) (118,827) Other income (expense) Interest expense (581) (7,390) (1,855) (14,185) Interest income 16,486 5,019 26,635 9,228 Loss on foreign exchange (1,954) (489) (1,798) (623) Other expense, net (368) (977) (244) (498) Total other income (expense), net 13,583 (3,837) 22,738 (6,078) Loss before income taxes (43,931) (63,476) (90,745) (124,905) Provision for income taxes (5,327) (2,938) (3,535) (2,125) Net loss $ (49,258) $ (66,414) $ (94,280) $ (127,030) Net loss per share attributable to Rocket Lab Corporation Basic and diluted $ (0.08) $ (0.13) $ (0.15) $ (0.25) Weighted-average common shares outstanding Basic and diluted 629,681,803 515,086,631 617,625,210 510,376,584 rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE ROCKET LAB CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETSAS OF JUNE 30, 2026 AND DECEMBER 31, 2025(unaudited in thousands, except share and per share values) June 30, 2026 December 31, 2025 Assets Current assets Cash and cash equivalents $ 2,129,485 $ 828,660 Marketable securities, current 172,700 187,917 Accounts receivable, net 112,889 39,001 Contract assets 94,245 61,606 Inventories 266,931 158,407 Prepaids and other current assets 119,509 89,953 Total current assets 2,895,759 1,365,544 Non-current assets Property, plant and equipment, net 393,946 319,473 Intangible assets, net 320,415 224,746 Goodwill 299,072 205,750 Right-of-use assets - operating leases 113,690 90,371 Right-of-use assets - finance leases 12,349 13,895 Marketable securities, non-current 85,405 82,247 Restricted cash 8,413 4,885 Deferred income tax assets, net 1,057 1,895 Other non-current assets 57,268 15,672 Total assets $ 4,187,374 $ 2,324,478 Liabilities and Stockholders Equity Current liabilities Trade payables $ 74,512 $ 72,699 Accrued expenses 44,206 19,299 Employee benefits payable 29,118 25,803 Contract liabilities 351,193 195,438 Other current liabilities 29,167 21,237 Total current liabilities 528,196 334,476 Non-current liabilities Convertible senior notes, net 13,129 152,395 Long-term borrowings, net 1,716 1,716 Non-current operating lease liabilities 104,378 85,191 Non-current finance lease liabilities 14,468 14,653 Deferred income tax liabilities 10,146 1,241 Other non-current liabilities 23,188 12,952 Total liabilities 695,221 602,624 COMMITMENTS AND CONTINGENCIES Stockholders equity Preferred stock, $0.0001 par value authorized shares 100,000,000 issued and outstanding shares 40,951,250 and 45,951,250 at June 30, 2026 and December 31, 2025, respectively 4 5 Common stock, $0.0001 par value authorized shares 2,500,000,000 issued shares 639,131,688 and 589,525,802 at June 30, 2026 and December 31, 2025, respectively outstanding shares 598,180,438 and 543,574,552 at June 30, 2026 and December 31, 2025, respectively 60 54 Treasury stock, at cost shares 40,951,250 and 45,951,250 at June 30, 2026 and December 31, 2025, respectively Additional paid-in capital 4,606,854 2,735,669 Accumulated deficit (1,106,190) (1,011,910) Accumulated other comprehensive loss (8,575) (1,964) Total stockholders equity 3,492,153 1,721,854 Total liabilities and stockholders equity $ 4,187,374 $ 2,324,478 rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE ROCKET LAB CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025(unaudited in thousands) For the Six Months Ended June 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (94,280) $ (127,030) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization 35,933 17,465 Stock-based compensation expense 47,677 37,167 (Gain) loss on disposal of assets (403) 1,503 Lower of cost or market inventory valuation adjustment 5,802 Amortization of debt issuance costs and discount 179 1,691 Noncash lease expense 5,629 3,565 Change in the fair value of contingent consideration 386 Accretion of marketable securities purchased at a discount (873) (1,099) Deferred income taxes 1,409 1,454 Changes in operating assets and liabilities Accounts receivable, net (63,023) (25,317) Contract assets (30,057) 11,193 Inventories (73,331) (11,513) Prepaids and other current assets (6,881) (18,037) Other non-current assets (40,337) 11,879 Trade payables (3,124) 11,149 Accrued expenses 8,963 4,024 Employee benefits payables (3,375) 3,289 Contract liabilities 78,835 7,217 Other current liabilities 2,788 98 Non-current lease liabilities (6,467) (6,547) Other non-current liabilities 143 382 Net cash used in operating activities (134,407) (77,467) CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property, equipment and software (53,112) (60,719) Proceeds on disposal of assets 715 144 Cash paid for business combinations, net of acquired cash (44,271) Purchases of marketable securities (149,519) (128,325) Maturities of marketable securities 161,579 149,495 Sale of marketable securities 3,383 Net cash used in investing activities (84,608) (36,022) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from ATM Equity Offerings 1,529,639 396,647 Issuance costs related to ATM Equity Offerings (16,722) (9,496) Proceeds from the exercise of stock options 1,278 379 Proceeds from Employee Stock Purchase Plan 8,792 4,836 Proceeds from sale of employees restricted stock units to cover taxes 151,719 40,715 Minimum tax withholding paid on behalf of employees for restricted stock units (151,154) (40,421) Proceeds from secured term loans 25,000 Repayments on secured term loan (11,208) Payment of debt issuance costs (278) Finance lease principal payments (149) (126) Net cash provided by financing activities 1,523,403 406,048 Effect of exchange rate changes on cash and cash equivalents (35) 1,127 Net increase in cash and cash equivalents and restricted cash 1,304,353 293,686 Cash and cash equivalents, and restricted cash, beginning of period 833,545 275,302 Cash and cash equivalents, and restricted cash, end of period $ 2,137,898 $ 568,988 rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE ROCKET LAB CORPORATION AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURESFOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025(unaudited in thousands)The tables provided below reconcile the non-GAAP financial measures Adjusted EBITDA, Non-GAAP gross profit, Non-GAAP research and development, net, Non-GAAP selling, general and administrative, Non-GAAP operating expenses, Non-GAAP operating loss and Non-GAAP total other income (expense), net with the most directly comparable GAAP financial measures. See above for additional information on the use of these non-GAAP financial measures. Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 NET LOSS $ (49,258) $ (66,414) $ (94,280) $ (127,030) Depreciation 10,172 5,882 17,686 11,571 Amortization 10,771 2,876 18,247 5,894 Stock-based compensation expense 19,561 17,933 47,677 37,167 Transaction costs 8,576 5,008 10,244 6,386 Interest expense 581 7,390 1,855 14,185 Interest income (16,486) (5,019) (26,635) (9,228) Change in fair value of contingent consideration 199 386 Amortization of inventory step-up 183 183 Provision for income taxes 5,327 2,938 3,535 2,125 Loss on foreign exchange 1,954 489 1,798 623 Accretion of marketable securities and cash equivalents purchased at a discount (419) (672) (877) (1,257) Loss (gain) on disposal of assets 6 1,490 (403) 1,503 Employee retention credit 515 515 ADJUSTED EBITDA $ (8,833) $ (27,584) $ (20,584) $ (57,546) rocketlabcorp.com media rocketlabusa.com MEDIA RELEASE Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP Gross profit $ 84,576 $ 46,388 $ 161,069 $ 81,635 Stock-based compensation 5,090 4,892 8,596 8,812 Amortization of purchased intangibles and favorable lease 7,184 1,823 13,278 3,646 Amortization of inventory step-up 183 183 Employee retention credit 278 278 Non-GAAP Gross profit $ 97,033 $ 53,381 $ 183,126 $ 94,371 Non-GAAP Gross margin 41.5 % 36.9 % 42.2 % 35.3 % GAAP Research and development, net $ 82,429 $ 66,134 $ 162,942 $ 121,243 Stock-based compensation (6,934) (5,573) (12,780) (10,467) Amortization of purchased intangibles and favorable lease (164) (329) Employee retention credit (88) (88) Non-GAAP Research and development, net $ 75,495 $ 60,309 $ 150,162 $ 110,359 GAAP Selling, general and administrative $ 59,661 $ 39,893 $ 111,610 $ 79,219 Stock-based compensation (7,537) (7,468) (26,301) (17,888) Amortization of purchased intangibles and favorable lease (3,302) (628) (4,407) (1,404) Transaction costs (8,576) (5,008) (10,244) (6,386) Employee retention credit (149) (149) Non-GAAP Selling, general and administrative $ 40,246 $ 26,640 $ 70,658 $ 53,392 GAAP Operating expenses $ 142,090 $ 106,027 $ 274,552 $ 200,462 Stock-based compensation (14,471) (13,041) (39,081) (28,355) Amortization of purchased intangibles and favorable lease (3,302) (792) (4,407) (1,733) Transaction costs (8,576) (5,008) (10,244) (6,386) Employee retention credit (237) (237) Non-GAAP Operating expenses $ 115,741 $ 86,949 $ 220,820 $ 163,751 GAAP Operating loss $ (57,514) $ (59,639) $ (113,483) $ (118,827) Total non-GAAP adjustments 38,806 26,071 75,789 49,447 Non-GAAP Operating loss $ (18,708) $ (33,568) $ (37,694) $ (69,380) GAAP Total other income (expense), net $ 13,583 $ (3,837) $ 22,738 $ (6,078) Loss on foreign exchange 1,954 489 1,798 623 Loss (gain) on disposal of assets 6 1,490 (403) 1,503 Change in fair value of contingent consideration 199 386 Non-GAAP Total other income (expense), net $ 15,742 $ (1,858) $ 24,519 $ (3,952) rocketlabcorp.com media rocketlabusa.com