GoKawiilRocket Lab 's stock blasted 34%, notching its best day ever, after the space company topped first-quarter revenue estimates and announced its largest launch deal on record.
The Long Beach, California-based company reported $136.7 million in revenue for its space systems business and $63.7 million for its launch segment. That topped FactSet estimates of $132.1 million and $59 million, respectively. Rocket Lab's backlog more than doubled from a year ago to $2.2 billion.
Guidance also surpassed Wall Street's estimates. The company anticipates revenue between $225 million and $240 million during the second quarter, compared to a $207.5 million from LSEG.
Rocket Lab's stock has more than quadrupled over the past year, benefiting from skyrocketing demand for businesses tied to the space economy ahead of SpaceX's hotly anticipated IPO later this year. Demand for space systems and satellites is also escalating as President Donald Trump pursues his ambitious Golden Dome missile defense project and NASA's crewed Artemis missions rev up.