Rocket Lab (RKLB) Q2 2026 Earnings Overview: Record $234M Revenue Offset by 29% to 31% Margin Guide
Rocket Lab posted record Q2 revenue of $234.1M (+62% YoY) and a large $2.36B backlog, led by Space Systems (81% of sales), but guided Q3 GAAP gross margin to 29%–31%, below market expectations. The mix shift toward lower-margin satellite platforms and continued Neutron development spending increases focus on operating leverage and cash use, tempering the otherwise strong top-line momentum.
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Rocket Lab reported record Q2 revenue of $234.1 million, up 62% year over year, while its GAAP loss was $0.08 per share and Q3 gross-margin guidance reset lower. This report reviews segment execution, guidance, the August 11 reaction, and verified technical reference levels.