RKLB's quarterly financial report can be considered excellent, 1) The total revenue was $200 million, a year-on-year increase of 63.46%, mainly benefiting from the increase in launch frequency (9 Electron launches completed in the quarter) and the acceleration of satellite system business delivery. Significant improvement in profits: 2) Net profit was -45022000 US dollars, a year-on-year decrease of 25.73%, and gross profit margin increased to 38% (+5.2 percentage points year-on-year), reflecting an increase in economies of scale and the proportion of high gross profit businesses. 3) Cash flow and order reserves: The year-end backlog of orders reached 2.13 billion US dollars (+15% compared to the previous period), with a cash reserve of 1.15 billion US dollars, providing sufficient financial support for the development of the Neutron rocket. 4) Next quarter guidance, revenue will be between $225 million and $240 million. The adjusted EBITDA loss ranges from $20 million to $26 million. Further narrowing. Sort out the highlights of RKLB's business operations in the first quarter: 1) The backlog of orders reached a record high of 2.2 billion US dollars, with a month on month increase of 20.2%. The backlog of orders should be ten times the volume of the current quarter's revenue, and the visibility of performance in the next two years will be high. 
 2) RKLB signed 31 new Electron and HASTE rocket launch contracts and 5 new Neutron specific launch contracts in the first quarter, setting a new record for the number of launch contracts. The launch order volume for the first quarter of 2026 has exceeded that of the entire year of 2025, indicating sustained strong demand and growth in the market for the company's strong launch capabilities. At present, RKLB's launch plan has accumulated over 70 contracted tasks. 
 3) The acquisition of Mynaric AG has been completed, which is a leading supplier of laser optical communication terminals in the aviation, aerospace, and mobile application fields. This further enhances Rocket Lab's strong position as a large-scale satellite component supplier in the global aerospace market. 4) RKLB has signed a final agreement to acquire Motiv Space Systems, a leading company in the fields of space robotics, motion control systems, and precision mechanical devices. This acquisition will achieve two strategic goals of Rocket Lab: firstly, to enhance Mars validated robotics capabilities for advanced planetary exploration and national security missions; The second is to fill the key gap in the vertical integration strategy of the rocket laboratory, by incorporating expensive and supply limited satellite components such as solar array drive modules (SADA) and other precision mechanical devices into the company's internal production. 5) Selected to directly support the US Department of War's Space Based Interceptor (SBI) project, which is a key component of President Trump's Golden Dome for America and is being carried out in collaboration with Raytheon. The launch and satellite capabilities of Rocket Lab are applied to the SBI project, which not only demonstrates the value of the company's agile and cost-effective end-to-end space capabilities to combat personnel, but also gives the company the opportunity to generate observable revenue from this potentially most important national security project for the US government. 6) Gauss has been launched, a new type of electric satellite thruster designed for large-scale production to meet the growing demand for reliable satellite propulsion in commercial and national security constellations. 
 7) Significant progress has been made in various aspects of the Neutron project, including ongoing integration and preparation of first flight hardware, ongoing progress in Archimedes engine qualification, and propulsion of the second stage and reusable fairing system, making it possible for the medium launch vehicle to conduct its first launch later this year. Overall, it is still commendable