Ricardo Pillai
Sat, March 21, 2026 astatine 3:12 PM CDT 3 min read
Is RKLB a bully banal to buy? We came crossed a bullish thesis connected Rocket Lab Corporation connected M. V. Cunha’s Substack. In this article, we volition summarize the bulls’ thesis connected RKLB. Rocket Lab Corporation's stock was trading astatine $68.41 arsenic of March 13th.
Pixabay/Public Domain
Rocket Lab Corporation, a abstraction company, provides motorboat services and abstraction systems solutions successful the United States, Canada, Japan, and internationally. RKLB continues to show beardown operational execution and strategical positioning, reinforcing its presumption arsenic a starring vertically integrated abstraction company. In Q4 2025, the institution reported gross of $179.7 million, up 35.7% year-over-year and 15.8% sequentially, driven by a 79% summation successful Launch Services gross and a astir 30% enlargement successful Space Systems, reflecting robust request for Electron, HASTE, and nationalist information spacecraft.
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Full-year 2025 gross reached $601.8 million, with GAAP and non-GAAP gross margins expanding to 34.4% and 39.7% respectively, supported by improved fixed-cost absorption, operational leverage, and favorable mix dynamics. Rocket Lab’s backlog deed a grounds ~$1.85 billion, with 37% expected to person into gross wrong 12 months, anchored by a historical $816 cardinal SDA Tranche III award, highlighting its increasing relation arsenic a premier contractor successful U.S. nationalist information programs.
Electron and HASTE launches proceed astatine unprecedented cadence, with rockets rolling retired each 11–13 days, strengthening docket reliability and reinforcing strategic defense relationships. Despite a Stage 1 vessel contented delaying Neutron’s archetypal motorboat to Q4 2026, absorption emphasized that the occupation was isolated to testing, with automated accumulation reducing aboriginal hazard and cost, and the wide plan remains sound. Vertical integration done strategical acquisitions, including OSI and PCL, has enhanced optical payload and precision manufacturing capabilities, portion pending enlargement with Mynaric could accelerate introduction into optical inter-satellite communications.
With a strengthened currency presumption of $1.1 billion, important indebtedness reduction, and robust multi-launch lawsuit agreements, Rocket Lab is well-positioned for some integrated and inorganic growth. The operation of grounds motorboat cadence, expanding nationalist information contracts, and the upcoming Neutron programme provides a compelling bullish concern case, offering meaningful upside arsenic the institution scales its end-to-end abstraction capabilities and further consolidates its enactment successful tiny and medium-lift orbital launches.

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