Rocket Lab Corporation delivered 63.5% YoY revenue growth to $200.3M, with gross margin expanding to 38.2% and backlog reaching $2.2B. Space Systems now drives 68% of revenue, while Launch Services provides strategic leverage and strong momentum, especially in defense and hypersonics. Despite a forward P/S of 78x and execution risks, especially around Neutron's launch and reusability, I rate RKLB a Strong Buy for long-term investors.