Rocket Lab said Tuesday it has doubled its order backlog — from about $241 million in contracts at the end of 2021 to $503.6 million at the end of 2022.
said Tuesday it has doubled its order backlog — from about $241 million in contracts at the end of 2021 to $503.6 million at the end of 2022 — and made progress on the Neutron rocket it's developing.
Rocket Lab conducted two successful launches of its Electron vehicle during the quarter, generating $12 million in revenue. Its broader Space Systems division continues to bring in the bulk of its revenue, generating $38.8 million. Alongside its results, Rocket Lab announced a contract for four Electron launches from satellite company Capella Space. Those missions are scheduled to begin in the second half of the year.Shares of Rocket Lab are up 19% so far this year, as of Tuesday's close at $4.50.successfully. It aims to complete as many as 14 more Electron launches this year.
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