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Rocket Lab vs Firefly Aerospace: RKLB and FLY compared
Rocket Lab is the larger company: $234M of revenue in its latest quarter (Q2 2026) against $118M for Firefly Aerospace (Q2 2026). Firefly Aerospace is growing faster (+657% against +62% a year earlier). Rocket Lab is more profitable, with an operating margin of -24.6% against -80.9%.
Where the money goes: RKLB and FLY
Rocket Lab (RKLB) · Q2 2026
Rocket Lab, Q2 2026: revenue $234M (+62% year over year), operating margin -24.6%, net loss $49.3M, operating cash flow −$84.1M. The chart follows the revenue to costs, profit and cash.
Firefly Aerospace (FLY) · Q2 2026
Firefly Aerospace, Q2 2026: revenue $118M (+657% year over year), operating margin -80.9%, net loss $92.3M, operating cash flow −$81.6M. The chart follows the revenue to costs, profit and cash.
| Rocket Lab (RKLB) | Firefly Aerospace (FLY) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $234M | $118M |
| Revenue growth, Y/Y | +62% | +657% |
| Operating margin | -24.6% | -80.9% |
| Net earnings | −$49.3M | −$92.3M |
| Net margin | -21.0% | -78.4% |
| Operating cash flow | −$84.1M | −$81.6M |
Where the revenue comes from
Rocket Lab
- Product revenues: $181M (77%)
- Service revenues: $52.7M (23%)
Firefly Aerospace
- Spacecraft Solutions Revenue: $108M (92%)
- Launch Revenue: $9.4M (8%)
Questions
Which is bigger, Rocket Lab or Firefly Aerospace?
Rocket Lab is the larger company: $234M of revenue in its latest quarter (Q2 2026) against $118M for Firefly Aerospace (Q2 2026).
Is Rocket Lab or Firefly Aerospace growing faster?
Firefly Aerospace is growing faster (+657% against +62% a year earlier).
Which is more profitable, Rocket Lab or Firefly Aerospace?
Rocket Lab is more profitable, with an operating margin of -24.6% against -80.9%.
More: Rocket Lab earnings · how Rocket Lab makes money · Firefly Aerospace earnings · how Firefly Aerospace makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Aug 11, 2026). Fiscal quarters can end on different dates. Not investment advice.