Strong guidance, a record backlog, and the proposed Iridium acquisition reinforce Rocket Lab’s long-term ambitions
Rocket Lab (RKLB) delivered another record-breaking quarter, underscoring the company’s rapid transformation into a fully integrated space infrastructure provider. Second-quarter revenue climbed 62% year-over-year to a record $234 million, while backlog surged 137% to an all-time high of $2.36 billion, reflecting strong demand across launch services and space systems.
Founder and CEO Sir Peter Beck described the quarter as “another fantastic quarter,” noting that Rocket Lab has already secured more than $1 billion in new contracts during the third quarter across its launch and space systems businesses. The company also completed the acquisitions of Mynaric and Motiv and announced its proposed acquisition of Iridium Communications, a move that would position Rocket Lab as a vertically integrated company capable of designing, building, launching, and operating its own satellite constellations.
Operational momentum also remained strong. Rocket Lab secured more than $437 million in new launch contracts, expanding its launch backlog to over 90 missions, while introducing GHOST, a globally deployable launch system designed to enable launches from virtually anywhere in the world. Meanwhile, development of the reusable Neutron rocket continues to advance, with first-stage production remaining on track for launch pad delivery in the fourth quarter.
The company also strengthened its defense business with major U.S. Space Force awards, including a $397 million contract for its Flatellite spacecraft and more than $160 million in geostationary satellite contracts.
Looking ahead, Rocket Lab expects third-quarter revenue between $250 million and $265 million, signaling continued growth as the company expands its launch capabilities, satellite manufacturing, and global space infrastructure footprint.
