Rocket Lab USA, Inc. (RKLB) shares surged 6.03% in after-hours trading following the release of its first-quarter financial results. The aerospace company reported significant year-over-year growth, surpassing revenue expectations and providing strong forward guidance.
The company posted Q1 revenue of $200.3 million, a 63.5% increase from the prior year and beating the analyst consensus estimate of $189.7 million. Rocket Lab's net loss narrowed to $0.07 per share from $0.12 a year ago. The results were driven by a record number of new launch and space systems contracts, contributing to a backlog exceeding $2.2 billion. Furthermore, the company announced the acquisition of robotics leader Motiv Space Systems, expanding its capabilities in satellite components and robotics.
Looking ahead, Rocket Lab issued optimistic Q2 revenue guidance of $225 million to $240 million, well above analyst expectations. Additional positive developments included a new $30 million contract for hypersonic rocket launches and selection alongside Raytheon for a U.S. Space Force demonstration program, underscoring the company's growth trajectory in the defense and space sectors.
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