Rocket Lab sold $1.5bn of new shares in six months — at about $29, then $70, then $131 a share — and has a $3.6bn bridge loan commitment for Iridium
Q2 2026 10-Q: revenue $234m (+62%), net loss $49m, operating cash flow −$50m. ATM sales of 8.15m shares for $1.07bn in Q2 alone; cash $2.13bn. Iridium merger agreement signed June 28 ($27.00 cash plus 0.24–0.40 shares per Iridium share), 364-day bridge loan of $3.6bn committed. Backlog $2.36bn
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Rocket Lab Form 10-Q for Q2 2026 (as of June 30, 2026): statement of operations, cash-flow statement, statement of stockholders' equity (ATM rows), Note 1 'Iridium Merger Agreement, Bridge Loan', business-combination note (Mynaric, Motiv), 'Backlog', convertible notes, MD&A liquidity
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Rocket Lab (RKLB) reported revenue of $234,066k for the second quarter of 2026, up 62% from a year earlier, and a net loss of $49,258k. The statement of stockholders' equity in the 10-Q filed on August 10 shows, quarter by quarter, how many new shares the company sold into the market and at what price. Note 1 records the Iridium Communications merger agreement signed on June 28 and a $3.6bn bridge loan commitment.
What happened
Rocket Lab (RKLB) launches the small Electron rocket and builds satellites and components; it is traded as a space stock.
Its Q2 2026 quarterly report (10-Q) shows revenue of $234,066k, up 62% from $144,498k a year earlier, and gross profit of $84,576k. The operating loss was $57,514k and the net loss $49,258k ($66,414k a year earlier). Operating cash flow for the first half was −$134,407k.
The 'ATM Equity Offering' rows of the statement of stockholders' equity read, by quarter: Q2 2025 10.28m shares for $296,960k (about $29 a share); Q1 2026 6.36m shares for $444,922k (about $70); Q2 2026 8.15m shares for $1,067,832k (about $131). The price fetched by a share sold the same way rose 4.5 times in a year, and in the first half of 2026 alone $1,512.8m came in net of issuance costs. Cash at June 30 was $2.13bn.
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What the numbers mean — for subscribers
We find the numbers that are in the filing but not in the news, and analyze what they mean, how big they are and what to watch next quarter — with the arithmetic and quarterly metrics. Cancel any time.
It is a normal way for a loss-making company to fund growth, and selling when the share price is rising raises more money for the same number of shares — at the cost of diluting existing holders. This article reports the shares, proceeds and price per share by quarter and where the money is going; the criteria for judging it are in the subscriber section.
What is the total value of the Iridium acquisition?
The 10-Q gives the per-share consideration ($27.00 in cash plus 0.24–0.40 Rocket Lab shares) and the $3.6bn bridge loan commitment, but not a total deal value. Closing is subject to Iridium shareholder approval, antitrust, FCC and foreign-investment clearances and an effective S-4, and is expected in 2027.
Why is interest income so large for a loss-making company?
The $2.1bn of cash raised produced $16.5m of interest income in Q2. Other income of $13.6m offset part of the $57.5m operating loss, leaving a pre-tax loss of $43.9m.
Where can I verify these numbers?
On SEC EDGAR: Rocket Lab's Q2 2026 Form 10-Q (accession 0001819994-26-000062), the 'ATM Equity Offering' rows of the statement of stockholders' equity, Note 1 (Iridium merger agreement), the business-combination note, backlog, and the cash-flow statement.
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We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
An editor reviews before publication; any later change is recorded in the revision history.
Rocket Lab Form 10-Q for Q2 2026 (as of June 30, 2026): statement of operations, cash-flow statement, statement of stockholders' equity (ATM rows), Note 1 'Iridium Merger Agreement, Bridge Loan', business-combination note (Mynaric, Motiv), 'Backlog', convertible notes, MD&A liquidity · SEC EDGAR · This article is not investment advice. Disclaimer
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aiSwingX™ analyzes US filings and reports them as news investors can read.
