Space stocks were in focus this week as earnings reports highlighted surging defense demand, growing satellite and launch backlogs,and continued investment in next-generation space infrastructure.

While several companies posted record revenue or raised guidance, losses remained a theme across the sector as firms scale production and chase defense and national security opportunities.

Voyager Technologies

Voyager Technologies Inc. (VOYG  ) reported record fourth-quarter net sales of $46.7 million and full-year 2025 net sales of $166.4 million, while lifting 2026 revenue guidance to $225 million to $255 million on record backlog of $265.6 million.

CEO Dylan Taylor called 2025 "a transformational year," saying demand across "defense, national security and space continues to accelerate."

He added that Voyager is entering 2026 "from a position of strength," focused on converting demand into "sustained revenue growth and long-term shareholder value."

Firefly Aerospace

Firefly Aerospace (FLY  ) posted Q1 revenue of $80.9 million, up 40% from the prior quarter, and guided for full-year revenue of $420 million to $450 million.

CEO Jason Kim said "momentum defined Firefly's first quarter," citing Golden Dome work, Blue Ghost milestones, Alpha Flight 7 and a U.S. Space Force demonstration.

Kim said the company remains focused on scaling production for "frequent landings on the Moon, a regular launch cadence, and critical national security missions."

Redwire

Redwire Corp. (RDW  ) reported Q1 revenue of $97.0 million, up 57.9% year over year, with record backlog of $498.1 million and a 1.92 book-to-bill ratio.

CEO Peter Cannito said "very strong demand" and wins including the $1.8 billion Andromeda IDIQ show Redwire has "many pathways to success."

CFO Chris Edmunds pointed to gross margin improvement to 26.6% and said Redwire is reaffirming 2026 revenue guidance of $450 million to $500 million.

Rocket Lab

Rocket Lab Corp. (RKLB  ) delivered record Q1 revenue of $200.3 million, up 63.5% year over year, and backlog of more than $2.2 billion.

Founder and CEO Peter Beck said, "With revenue, we topped $200 million in the quarter for the first time," and called gross margins "excellent" at 38.2% GAAP and 43% non-GAAP. Rocket Lab guided Q2 revenue to $225 million to $240 million.

RKLB shares were up 25% on Friday, according to Benzinga Pro data.

BlackSky

BlackSky Technology Inc. (BKSY  ) reported Q1 revenue of $20.8 million. That's down from $29.5 million a year earlier. However, the company raised full-year revenue guidance to $130 million to $150 million.

CEO Brian O'Toole said BlackSky is "rapidly growing revenues driven by the demand for Gen-3 space-based intelligence and AI services" after winning up to $160 million in new contracts.

He said the company is raising guidance on "strong year-to-date sales performance" and "accelerated demand" in its pipeline.

Coming Next Week

Next week's space earnings calendar includes reports from AST SpaceMobile, Inc. (ASTS  ), Satellogic Inc. (SATL  ), Intuitive Machines, Inc. (LUNR  ), York Space Systems Inc. (YSS  ) and Virgin Galactic Holdings, Inc. (SPCE  ).