Rocket Lab (NASDAQ: RKLB) is set to report its second-quarter 2026 earnings today after market close, with rklb stock already surging in anticipation of the results and a string of major defense contract wins. The company announced earlier this week that it has been awarded a $397 million contract by the U.S. Space Force to develop, launch, and operate advanced Flatellite spacecraft for the Space-Based Airborne Moving Target Indicator (SB-AMTI) program.
The contract, announced on August 4, represents a major win for Rocket Lab’s growing defense business. Under the agreement, Rocket Lab will build multiple Flatellite satellites—next-generation flat satellite designs optimized for large constellations—and launch them on the company’s upcoming Neutron rocket while providing mission operations and data services to the Space Force. The SB-AMTI program aims to detect and track airborne threats in real time using space-based sensors and secure communications.
The $397 million award comes as part of a broader $615 million initiative across multiple contractors, positioning Rocket Lab as a key player in the Pentagon’s space defense strategy. CEO Peter Beck said in a statement that the contract reflects “Rocket Lab’s strategic vertical integration model that delivers rare end-to-end space capabilities,” noting that the company’s ability to design satellites, manufacture them, launch them, and operate them on orbit sets it apart from competitors.
The Space Force deal is one of several major wins Rocket Lab has secured in recent weeks. Last month, the company announced a record $266 million contract for 12 Electron launch missions, also from the Space Force. These defense contracts have significantly boosted investor confidence, with rklb stock jumping 9.46% on Friday, August 7, to close at $82.83.
Today’s earnings call will provide insight into how these contracts are affecting Rocket Lab’s financial trajectory. Analysts expect the company to report approximately $231 million in revenue for the second quarter, representing growth of roughly 60% year-over-year. In the first quarter of 2026, Rocket Lab reported record revenue of $200.3 million and a backlog of $2.2 billion, fueled by 31 new launch contracts and expanding government and commercial demand.
The company is expected to report a net loss of around $0.06 per share for Q2, a common pattern for growth-stage aerospace companies investing heavily in developing new launch vehicles like Neutron. The Neutron rocket, which will eventually become Rocket Lab’s primary launch platform for medium-class payloads, remains central to the company’s strategy for capturing larger government and commercial contracts.
Rocket Lab’s stock has been on a significant run this year, gaining approximately 46% through mid-July despite a recent pullback from its all-time high of $151 set earlier in the year. The string of Space Force wins and the company’s expanding backlog have driven renewed investor interest, even as the broader market grapples with volatility. Analysts at Craig-Hallum recently raised their price target on Rocket Lab to $120, citing the company’s growing defense revenue opportunity.
The Q2 earnings report and conference call are scheduled for 5:00 p.m. ET today. Investors will be watching for guidance on when Neutron will begin operational flights, updates on the SB-AMTI program timeline, and management commentary on the company’s ability to scale production to meet the growing defense backlog. The convergence of strong defense contract wins and today’s earnings announcement has positioned Rocket Lab as one of the space industry’s most closely watched stocks heading into the second half of 2026.
Sources
- Rocket Lab Investor Relations — official announcement of $397 million Space Force Flatellite contract on August 4, 2026
- CNBC — real-time stock price, volume, and 52-week range data
- TipRanks — Q2 2026 earnings date, stock price movement, and analyst expectations
- Yahoo Finance — analyst revenue expectations of $231 million for Q2 2026
- Motley Fool — stock price movement on August 7 and analysis of Space Force contract wins
- Seeking Alpha — analyst commentary on defense as growth engine for Rocket Lab
