Rocket Lab Posts Record Revenue but Stock Slips Amid Broader Market Caution
Rocket Lab (RKLB) delivered its strongest financial performance to date, with Q4 2025 revenue surging 36% year-over-year to $180 million. Full-year revenue hit $602 million, up 38% from 2024, while the backlog ballooned 73% to $1.85 billion—a testament to growing demand for its launch services. Yet shares dipped 0.44% post-earnings, reflecting investor skittishness despite seven successful Q4 launches and record annual cadence.
Gross margins improved sequentially, with GAAP at 38% and non-GAAP at 44.3%. The company’s 10x revenue growth since its 2021 Nasdaq debut underscores its scaling prowess, though profitability remains elusive (Q4 GAAP EPS: -$0.09). Guidance for Q1 2026 ($185M–$200M) suggests momentum continues, but macro pressures linger.