Rocket Lab reports 62% revenue surge and announces Iridium acquisition

Rocket Lab USA reported a 62% year-over-year revenue surge for the second quarter of 2026, reaching $234 million. The growth was primarily driven by its Space Systems segment, which earned $189.5 million, up 38.6% sequentially due to satellite manufacturing and the Mynaric acquisition.

Launch Services revenue was $44.6 million, a 30% decrease from the previous quarter, which the company attributed to a shift in HASTE revenue recognition timing rather than a drop in demand. The company’s non-GAAP gross margin of 41.5% and GAAP gross margin of 36.1% both exceeded prior guidance.

Strategic developments include the announcement of an acquisition of Iridium Communications, a move intended to add a 66-satellite constellation, 2.5 million subscribers, and $870 million in annual revenue to Rocket Lab. Additionally, the company secured a $266 million contract with the Space Force for up to 18 suborbital missions. Total backlog stands at approximately $2.36 billion.