Rocket Lab Shares Surge on Record Revenue, Anduril Deal
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NEW YORK (Reuters) - Rocket Lab USA Inc. (RKLB) shares jumped more than 34% in extended trading on Thursday after the aerospace company reported record first-quarter revenue that surpassed analyst expectations and provided optimistic guidance for the remainder of the year.
The New Zealand-headquartered firm, which operates out of Long Beach, California, announced a new $30 million partnership with defense technology company Anduril Industries. The deal is expected to bolster Rocket Lab's expanding defense-backed backlog, a key driver of investor confidence.
Rocket Lab posted first-quarter revenue of $108.5 million, beating the consensus estimate of $95 million. The company attributed the growth to increased launch cadence and higher demand for its electron satellite platform. Management also raised its full-year revenue guidance, projecting a range of $450 million to $480 million, up from previous estimates.
"We are seeing sustained demand across both our space systems and launch segments," said Peter Beck, CEO and founder of Rocket Lab, in a statement released alongside the earnings report. "The strategic partnership with Anduril further validates our position in the national security space sector."
The stock closed at $22.45 on Thursday before surging to $30.15 in after-hours trading. The company's market capitalization rose by approximately $1.2 billion during the session.
Rocket Lab's growth trajectory has been supported by a robust order book, with the company reporting a backlog exceeding $1.5 billion. The new agreement with Anduril, a leading developer of autonomous defense systems, will see Rocket Lab providing satellite manufacturing and launch services for Anduril's constellation projects.
Industry analysts noted that the defense sector has become a critical growth engine for commercial space companies amid rising geopolitical tensions. Rocket Lab's ability to secure government contracts while maintaining a competitive commercial launch schedule has positioned it as a key player in the industry.
The company also highlighted progress on its Neutron rocket, a medium-lift vehicle designed for national security and commercial missions. Rocket Lab stated that the first Neutron flight is scheduled for late 2026, with initial customers already secured.
Despite the positive earnings, some analysts cautioned that the space industry remains capital-intensive and subject to regulatory changes. The company will need to maintain its launch cadence and manage production costs to sustain long-term profitability.
Rocket Lab is scheduled to host an investor conference call on Friday morning to discuss the financial results and answer questions from analysts. The company's stock is expected to open higher on Friday as investors digest the earnings beat and new partnership details.
The aerospace sector has seen increased volatility in recent months as companies navigate supply chain challenges and shifting government priorities. Rocket Lab's performance will be closely watched as a bellwether for the commercial space industry's resilience.
Investors will also be monitoring the company's cash flow and capital allocation strategy as it scales up production of the Neutron rocket and expands its global launch infrastructure.