Filing Flows › Rocket Lab (RKLB) › Q1 2026
Rocket Lab (RKLB) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Rocket Lab (RKLB) reported revenue of $200M for the first quarter 2026 (Q1 2026), +63% from a year earlier and +12% from the quarter before. Operating margin was -27.9%, net loss $45.0M (22.5% of revenue).
Rocket Lab, Q1 2026: revenue $200M (+64% year over year), operating margin -27.9%, net loss $45.0M, operating cash flow −$50.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $200M | +12% | +63% |
| Operating profit | −$56.0M | — | — |
| Net earnings | −$45.0M | — | — |
| Operating cash flow | −$50.3M | — | — |
What changed
Revenue was $200.3M in Q1 2026, up 63% year over year and up 12% from the previous quarter. Product revenues was the largest line at 64% of revenue. Product revenues added $46.7M year over year (up 58%), 60% of the total change.
Gross margin was 38.2%, up 9.4 points from Q1 2025. Operating costs exceeded revenue by $56.0M, an operating margin of -27.9%. Operating expenses grew 40% against revenue growth of 63%. The fastest-growing cost line was Research & development (+46%). The quarter ended with a net loss of $45.0M, narrower than the previous quarter's $52.9M loss.
Operating cash flow was −$50.3M. Non-cash charges added back $15.0M of depreciation and amortization and $28.1M of share-based compensation. Working capital and other items used $48.4M. Capital expenditures of $27.1M exceeded it, leaving free cash flow of −$77.4M.
Questions
What was Rocket Lab's revenue in the first quarter 2026?
Rocket Lab (RKLB) reported revenue of $200M for the first quarter 2026 (Q1 2026), +63% from a year earlier and +12% from the quarter before.
Was Rocket Lab profitable in the first quarter 2026?
Operating loss was $56.0M (-27.9% of revenue) and net loss $45.0M.
Source: Rocket Lab 10-Q on SEC EDGAR.