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Rocket Lab stock rises after strong Q2 revenue and expanding backlog
The company reported Q2 2026 revenue of $234.0 million, up 62% year over year, as backlog climbed to $2.36 billion.
Rocket Lab shares jumped in early August, building on a run sparked by another strong quarter. Yahoo Finance reports the stock has been moving higher after a blowout first quarter and a record second quarter, as investors focused on revenue growth and backlog expansion.
In May, Rocket Lab posted record first quarter 2026 revenue of $200.3 million, up 63.5% year over year, and reported GAAP gross margin of 38.2%. Its contracted backlog rose to about $2.2 billion, up 108% from a year earlier, and it said investors were particularly drawn to how that backlog was assembled, including selling 31 new Electron and Haste launches in Q1 and adding five Neutron contracts.
Earlier this week, Rocket Lab reported record Q2 2026 results, with revenue increasing 62% to $234 million and backlog reaching $2.36 billion. The company said it is expanding through major contracts, progress on its Neutron rocket, acquisitions of Mynaric and Motiv, and its planned acquisition of Iridium, which it described as strengthening its vertically integrated space business.
Based on the earlier Q1 disclosures, roughly one-third of the backlog is expected to turn into revenue within 12 months, offering more visibility than many young space companies. The Q1 beat had already driven shares up around 40% from late-March levels, and by early August the stock was trading in the low 80s, according to Yahoo Finance.