Space Systems
Growing fast: Space Systems revenue nearly doubled in Q2 2026, and the company's $816M SDA Tracking Layer contract is in its backlog.
The numbers
What it is
Rocket Lab builds spacecraft and spacecraft components, and it builds complete satellites for government and commercial customers. The largest single award in company history is a $816 million Space Development Agency contract to build 18 satellites for the Tracking Layer Tranche 3 program.
Why it matters to the stock. Space Systems is now the main growth engine, and it is the reason the backlog reached a record $2.36 billion. The Space Development Agency contract ties a large part of future revenue to one government program.
News
Rocket Lab introduces GHOST launch system, first site in Kodiak, Alaska
Rocket Lab introduced GHOST, a globally deployable launch system, with its first site at Launch Complex 4 at the Pacific Spaceport Complex in Kodiak, Alaska.
Rocket Lab acquires Motiv Space Systems for $40M cash plus earnout
Rocket Lab acquired Motiv Space Systems on May 26, 2026 for $40 million in cash plus up to $20 million of stock-based earnout payments.
Rocket Lab posts record Q1 revenue of $200.3M and guides Q2 to $225M-$240M
Rocket Lab reported first-quarter 2026 revenue of $200.3 million, up 63.5% from $122.6 million a year earlier, with a record GAAP gross margin of 38.2%.
Rocket Lab discloses $816M Space Development Agency satellite contract
Rocket Lab listed an $816 million prime contract from the Space Development Agency among its fourth-quarter 2025 highlights.