Rocket Lab USA, Inc.
- Open
- 97.42
- Day high
- 104.16
- Day low
- 95.64
- Prev close
- 98.01
- Volume
- 32.1M
- Mkt cap
- $58.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 26.0
- P/S
- 86.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$73.4M over the last 3 months (0 open-market buys, 50 sales)
- 🏛Institutions accumulating (13F)
Rocket Lab USA, Inc. (RKLB) is a Industrials company listed on NASDAQ. The stock is up 196% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 50 sales (SEC Form 4). Drillr has 7 published research articles covering RKLB.
Rocket Lab USA, Inc. (RKLB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RKLB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.07 | $-0.07 | -4.4% | $200M | +5.6% |
| Aug 7, 2025 | $-0.10 | $-0.10 | -5.0% | $144M | +6.7% |
| May 8, 2025 | $-0.11 | $-0.12 | -12.6% | $123M | +1.0% |
| Feb 27, 2025 | $-0.09 | $-0.10 | -11.1% | $132M | +1.4% |
| Aug 8, 2024 | $-0.10 | $-0.08 | +20.0% | $106M | +0.8% |
| Feb 27, 2024 | $-0.09 | $-0.10 | -11.1% | $60M | -42.8% |
| Feb 28, 2023 | $-0.06 | $-0.08 | -33.3% | $52M | +9.0% |
| Aug 11, 2022 | $-0.06 | $-0.08 | -33.3% | $55M | +4.9% |
| May 16, 2022 | $-0.04 | $-0.06 | -50.0% | $41M | -0.7% |
| Feb 28, 2022 | $-0.05 | $0.01 | +114.1% | $27M | +13.4% |
| Nov 15, 2021 | $-0.12 | $-0.24 | -100.0% | $5M | -9.1% |
| Sep 8, 2021 | — | $-0.04 | — | $11M | — |
RKLB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 88,000 | $107.98 |
| Jun 5, 2026 | Spice Adam C.officer: Chief Financial Officer | Grant | 275,319 | — |
| Jun 5, 2026 | Ricupati Agostinoofficer: VP Corp Controller & CAO | Grant | 27,532 | — |
| Jun 5, 2026 | Slusky Alexander Rdirector | Sell | 40,000 | $123.60 |
| Jun 1, 2026 | Klein Frankofficer: Chief Operations Officer | Sell | 7,848 | $149.09 |
| Jun 1, 2026 | Klein Frankofficer: Chief Operations Officer | Sell | 8,694 | $148.13 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 500 | $143.15 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 1,900 | $144.33 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 1,090 | $145.52 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 4,310 | $146.62 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 6,698 | $147.51 |
| Jun 1, 2026 | Clevenger Marvin Bradfordofficer: President, Rocket Lab USA, Inc | Sell | 3,500 | $146.67 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 6,006 | $148.52 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 3,100 | $149.39 |
| Jun 1, 2026 | Kampani Arjunofficer: SVP & General Counsel | Sell | 200 | $150.26 |
Source: RKLB SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full RKLB insider & 13F page →RKLB research & analysis
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Rocket Lab USA, Inc. company profile
Overview
Rocket Lab USA, Inc. (NASDAQ:RKLB) is a space technology company founded in 2006 and headquartered in Long Beach, California. The company went public in November 2020 and has established itself as a leading provider of small satellite launch services and spacecraft manufacturing. Rocket Lab operates as an end-to-end space company, offering both launch capabilities through its Electron rocket and comprehensive space systems solutions including satellite design, manufacturing, and mission management. The company has achieved significant milestones including becoming the third most frequently launched rocket globally and maintaining a 100% mission success rate across its recent operations.
Business
Rocket Lab operates in the commercial space industry, which encompasses satellite launches, spacecraft manufacturing, and space-based services. The space economy has experienced rapid growth driven by increasing demand for satellite-based communications, Earth observation, national security applications, and emerging space-based manufacturing. The company operates through two primary business segments. The Launch Services segment, representing approximately 29% of total revenue, provides dedicated small satellite launch capabilities primarily through the Electron rocket. Electron is a small-lift launch vehicle designed to deploy payloads of up to 300 kilograms to low Earth orbit. The rocket uses Rocket Lab's proprietary Rutherford engines and is specifically engineered for the growing small satellite market. The company also operates HASTE (Hypersonic Accelerator Suborbital Test Electron), which provides suborbital flight testing services for hypersonic vehicle development. The Space Systems segment accounts for approximately 71% of revenue and encompasses spacecraft design, manufacturing, and mission management services. This includes the Photon satellite platform, which serves as a customizable spacecraft bus that can be configured for various mission requirements. The segment also produces satellite components such as reaction wheels, separation systems, solar arrays (STARRAY), and other critical spacecraft subsystems. Rocket Lab manufactures complete satellites for customers ranging from government agencies like NASA to commercial constellation operators. The company is also developing Neutron, a medium-lift launch vehicle capable of deploying up to 8 tons to low Earth orbit. Neutron represents Rocket Lab's expansion into the larger payload market currently dominated by SpaceX's Falcon 9. Additionally, the company is exploring space applications and services, including potential future constellation deployment and space-based manufacturing capabilities through partnerships with companies like Varda Space Industries.
Revenue model
Rocket Lab generates revenue through multiple complementary business models across its two main segments. The Launch Services segment operates on a product sales model, charging customers fixed prices for dedicated launch services. Electron launches are priced around $7-7.5 million per mission, with the company targeting over 20 launches annually. Customers include commercial satellite operators, government agencies, and aerospace prime contractors who require reliable access to space for their satellite deployments. The Space Systems segment operates primarily through contract manufacturing and service fees. The company signs multi-year contracts to design and manufacture complete spacecraft or specific components for customers. Major contracts include a $515 million Space Development Agency contract for 18 satellites, a $143 million Globalstar constellation contract for 17 spacecraft, and ongoing NASA missions including the ESCAPADE Mars mission spacecraft. This segment benefits from longer-term revenue visibility through its $772.6 million backlog. Several factors influence Rocket Lab's margins and profitability. Positive margin drivers include increasing launch cadence which spreads fixed costs across more missions, growing average selling prices as the company moves away from introductory pricing, vertical integration of component manufacturing which reduces supplier costs, and economies of scale in spacecraft production. The company has demonstrated pricing power, increasing Electron's average selling price by 60% since first launch. Margin pressures come from significant research and development investments, particularly the $250-300 million Neutron development program, competitive pricing pressure in the launch market from SpaceX and emerging competitors, supply chain constraints affecting component costs and delivery schedules, and the capital-intensive nature of aerospace manufacturing. The company's gross margins have improved from negative levels to approximately 28.8% GAAP and 33.4% non-GAAP, indicating operational leverage as scale increases. The business model benefits from recurring revenue characteristics in the Space Systems segment through multi-year contracts and potential follow-on orders, while the Launch Services segment provides more immediate revenue recognition but requires continuous customer acquisition.
Competitive moat
Rocket Lab's competitive moat is moderate but strengthening, built primarily around operational execution, vertical integration, and market positioning rather than insurmountable technological barriers. The company's strongest moat elements include its proven track record of reliable launches with 100% recent mission success, which is critical in an industry where launch failures can destroy expensive payloads and damage customer relationships. This operational reliability, combined with the company's rapid launch cadence capability, provides significant value to time-sensitive customers. The company's vertical integration strategy creates meaningful competitive advantages. By manufacturing engines, avionics, spacecraft components, and complete satellites in-house, Rocket Lab reduces dependency on external suppliers, maintains better quality control, and captures more value across the space supply chain. This integration is particularly valuable given ongoing supply chain constraints in the aerospace industry. Rocket Lab's market positioning in the small satellite launch segment provides some protection, as it has established itself as the primary alternative to SpaceX for dedicated small satellite missions. The company's Launch Complex 2 in Virginia also provides strategic value for U.S. government customers requiring domestic launch capabilities. However, the moat faces significant challenges. SpaceX's rideshare program offers cost-competitive alternatives for many small satellite deployments, potentially commoditizing the small launch market. The company operates in a capital-intensive industry with relatively low barriers to entry for well-funded competitors, as evidenced by numerous emerging launch companies. Additionally, the space industry's rapid technological evolution means that today's advantages can quickly become obsolete. The development of Neutron represents both an opportunity to strengthen the moat by competing in higher-value market segments and a risk, as it requires the company to compete directly with established players like SpaceX in a more competitive medium-lift market. The company's future moat strength will largely depend on successful Neutron execution and continued differentiation in space systems capabilities.
Risks & safety
Rocket Lab presents moderate financial risk with adequate liquidity but ongoing cash consumption during its growth and development phase. • Liquidity position: $303.1 million in cash and short-term investments with a current ratio of 2.08, providing reasonable near-term financial flexibility • Cash burn: Free cash flow of -$82.9 million in Q1 2025, with significant ongoing cash consumption driven by Neutron development and operational expansion • Debt levels: Debt-to-equity ratio of 1.14, indicating moderate leverage but manageable given the company's asset base • Solvency: Total assets of $1.25 billion versus total liabilities of $824 million, providing a reasonable equity cushion • Valuation metrics: Trading at 20.96x book value, indicating significant premium valuation that assumes successful execution of growth plans • Profitability: Negative EBITDA of -$50.1 million with negative 14.1% return on equity, reflecting the company's current investment phase • Revenue growth: Strong 32.1% year-over-year revenue growth demonstrating business momentum • Other considerations: $1.067 billion backlog provides revenue visibility, but execution risk remains high given complex aerospace development programs and competitive market dynamics
Recent development
Over the past few years, Rocket Lab has executed a comprehensive strategy to transform from a pure-play launch provider into an integrated space company. The most significant development has been the Neutron medium-lift rocket program, representing a $250-300 million investment to compete in the 8-ton payload class market. The company has progressed through critical milestones including successful Archimedes engine testing at 102% power, completion of second stage qualification campaigns, and preparation of Launch Complex 3 in Virginia, with first launch targeted for the second half of 2025. The company has dramatically expanded its Space Systems capabilities through both organic development and strategic acquisitions. Key developments include completing NASA's ESCAPADE Mars mission spacecraft, securing the $515 million Space Development Agency contract for 18 satellites, and introducing the new Flatellite satellite platform designed for large constellation manufacturing with capacity for up to one satellite per day production. The company has also developed new product lines including STARRAY solar arrays and enhanced its component manufacturing capabilities. Strategic partnerships and market positioning have been central to recent developments. Rocket Lab was selected for the Department of Defense's National Security Space Launch program, providing access to high-value government contracts. The company announced its intent to acquire Mynaric for laser communication terminals, expanding its technology portfolio. Additionally, partnerships with companies like Varda Space Industries for in-space manufacturing missions demonstrate the company's expansion into emerging space applications. The company has also focused on operational scaling and efficiency improvements. Launch cadence increased from 10 launches in 2023 to 16 in 2024, with targets exceeding 20 launches in 2025. Average selling prices for Electron launches increased by 60% since initial operations, demonstrating pricing power. The Space Systems segment has grown to over 40 spacecraft in various production stages, with gross margins improving to over 33% on a non-GAAP basis.
RKLB company profile · for informational purposes only — not investment advice.
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