Rocket Lab reported record revenue of $602 million for 2025, representing a 38% year-over-year increase compared with 2024. The company achieved record Q4 2025 revenue of $180 million, a 36% year-over-year increase from the prior-year quarter, beating the $177.2 million consensus estimate. Rocket Lab's contracted backlog grew 20.2% quarter over quarter to a record $2.2 billion in Q1 2026, reflecting strong growth in contracted launch missions and customer demand. Additionally, Rocket Lab's gross margin improved to 38.2% in Q1 2026, up from approximately 28.8% in the first quarter of 2025, indicating stronger profitability on higher revenue. The company also reported a first-quarter revenue of $200.35 million, a 63.5% year-over-year increase, reflecting strong growth in its launch services and space systems contracts.