TradingKey – Rocket Lab (RKLB) is seeing record backlog numbers with very large U.S. Defense contracts in Q1 and now much stronger revenue this Q1, with revenue at $200.3 million, which is a 63.5% increase on a year-over-year basis. The backlog is at $2.2 billion following a quarter where it grew 20.2% and with a year-over-year growth of 108%. Rocket Lab is still reporting numbers in the red with a cash burn, but strong growth and backlog numbers are promising.

Rocket Lab received two contracts with the U.S. Space Force, with a value of $663 million. The next test for the Rocket Lab stock will be Q2 earnings. This is scheduled for market close on August 10. The guidance for revenue is $225 million to $240 million.