Rocket Lab surges 30% to fresh highs on revenue beat, record-setting launch deal

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Rocket Lab

’s stock blasted 30% to a record high 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.