Rocket Lab Strong Bookings And Progress On Neutron

Rocket Lab (RKLB) reported 1Q26 results that beat consensus expectations on revenue and EBITDA, highlighted by a doubling of launch backlog. Goldman Sachs remains Neutral on the stock with a $76 price target as the company progresses toward its first Neutron launch in 4Q26.

Key Takeaways

• 1.RKLB 1Q26 revenue and EBITDA exceeded consensus estimates, driven by strong growth in Space Systems.
• 2.Launch backlog nearly doubled during the quarter following 31 Electron bookings and 5 Neutron contracts.
• 3.Neutron rocket development remains on track for a first launch in 4Q26.

Table of Contents

• Our view on the stock post 1Q26 earnings
• Key elements of the quarter
• Key Data
• GS Forecast
• Ratios & Valuation
• Growth & Margins (%)
• Price Performance
• Income Statement ($ mn)
• Balance Sheet ($ mn)
• Cash Flow ($ mn)
• Revenue
• Adjusted EBITDA
• Backlog
• Balance sheet and cash flow
• Guidance
• Estimate revisions

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