Rocket Lab USA, Inc. (RKLB) shares surged 5.31% in post-market trading on Thursday, following the release of the company's first-quarter financial results and a series of positive business announcements.
The aerospace company reported Q1 revenue of $200.3 million, a significant 63.5% increase year-over-year that surpassed analyst expectations. Rocket Lab's net loss narrowed to $0.07 per diluted share from $0.12 a year earlier, while the company ended the quarter with a record backlog of $2.2 billion, up 20.2% sequentially.
Additional catalysts for the stock move included strong forward guidance, with Q2 revenue projected between $225 million and $240 million, well above analyst estimates. The company also announced multiple strategic wins including a $30 million contract from Anduril for hypersonic test flights, a partnership with Raytheon for the U.S. Space Force's Space Based Interceptor program, and the acquisition of robotics leader Motiv Space Systems to expand its space systems capabilities.
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