Rocket Lab posts record Q2 revenue and backlog growth, with projections suggesting organic revenue could reach $1.5 billion by 2027 despite ongoing EBITDA losses and high valuation concerns.
Rocket Lab's record revenue and backlog growth are offset by expected EBITDA losses and a high valuation, making the outlook mixed.
Iridium is set to be acquired by Rocket Lab in an $8 billion deal expected to close in mid-2027, with its revenue to be folded into Rocket Lab's results.
Rocket Lab reported a 62% year-over-year revenue increase to $234 million in Q2 2026, supported by a record $2.36 billion backlog. While the company prepares for its $8 billion acquisition of Iridium Communications in 2027, analysts project organic revenue growth to reach $1.5 billion, even excluding contributions from the satellite operator.
Once the $8 billion deal closes in mid-2027, Iridium's revenue will be consolidated into Rocket Lab's reported financial results.
The current $1.5 billion revenue forecast for 2027 excludes potential revenue from the Neutron rocket, which is expected to debut in late 2026.