Rocketlab (RKLB), which I previously mentioned to everyone, surged 26% today after releasing its first quarter financial report, and once exceeded $100 during trading. surge The core reason for the significant increase is the unexpected growth of the company's business in the first quarter 1. Financial aspect Single quarter revenue of 200 million US dollars, a year-on-year increase of over 60%; The gross profit margin was 38.2%, an increase of 10 percentage points from the fourth quarter of 2024; The backlog of orders has reached a record high of 2.2 billion US dollars; The Adjusted EBITDA loss narrowed to $11.8 million in the current quarter, a significant improvement of 61% year-on-year compared to $29.96 million in the first quarter of 2025. 2. Business aspects The most concerning thing is the progress of the neutron rocket Neutron. Due to the first stage tank rupture accident in early testing, the project has adjusted its maiden flight time to the fourth quarter of 2026. CEO Peter Beck stated on the earnings conference call that the company has successfully completed the separation event identification test under full load flight pressure, which is a key step to ensure reliable separation of the first and second stages during flight. 3. Summary I think the progress of RKLB reflected in Q1 is still optimistic, and the stock price is also in place. The main focus is still on whether the Neutron rocket can be launched as scheduled in the fourth quarter, and whether the company's profitability can continue to meet expectations. In terms of valuation, the current price is not cheap. Compared to SpaceX, the 26 year market to sales ratio of 57x is also quite close to SpaceX. Continue holding, but chasing higher prices may carry risks. For more background knowledge about SpaceX, please refer to the videos you have previously made