Revenue $200.3M (+63.4% YoY), exceeding Goldman Sachs' expectations by +11.8%; Order backlog $2.22B, single-quarter QoQ +20%, YoY +108%, a doubling; Space Systems revenue +57% YoY, the core engine contributing to the beat. Q2 guidance midpoint $232.5M, exceeding Street estimates by approximately +16%. Neutron maiden flight maintains the 4Q26 schedule. Goldman Sachs maintains Neutral, price target $73 → $76, but the current $117 is 54% higher than the target—whether the valuation is reasonable is the biggest disagreement this quarter.
SpaceX IPO Sprinting! Are Space Stocks the Chosen One?
SpaceX IPO officially enters the final countdown; listing expected in June with valuation reaching $1.75 to $2 trillion, poised to become the largest IPO in history. The biggest highlight of this offering is the retail allocation, which could reach as high as 30%—far exceeding industry norms.
What’s your take on the investment logic of space stocks?
Do you think RKLB is the “SanDisk of space,” or is the valuation already overstretched?
Would you consider buying after a -10% post-market drop of $AST SpaceMobile, Inc.(ASTS)$?
Is SpaceX Terafab another of Musk’s cash-burning projects?
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