Rocket Lab (RKLB) is having a moment. Shares surged 6.6% in premarket trading Friday after the company dropped a barrage of news that would make any space stock enthusiast giddy: a record launch contract, a defense deal with Anduril, a partnership with Raytheon for a Space Force program, an acquisition, and quarterly earnings that beat expectations.

Let's start with the biggest headline. On Thursday, Rocket Lab announced its largest launch contract ever — a confidential multi-launch deal for five Neutron and three Electron missions scheduled between 2026 and 2029. The agreement lifts Rocket Lab's total launch backlog above $2.2 billion and more than 70 missions. That's a lot of rockets waiting to fly, and it signals strong demand even before the company's new medium-lift Neutron rocket has made its inaugural flight.

CEO Peter Beck said the deal reflects growing demand from commercial and government customers for reliable access to space. It's a nice vote of confidence in a company that's still proving out its next-generation vehicle.

But that wasn't the only defense-related news. Rocket Lab also secured a $30 million contract from Anduril Industries for three HASTE hypersonic test launches. These missions will launch from Rocket Lab's Launch Complex 2 and support the development of Mach 5-plus technologies for future defense applications. The first launch is expected within 12 months. Hypersonics are a hot area in defense, and this deal adds to Rocket Lab's expanding hypersonics backlog, which now represents nearly one-third of its more than 70 launches under contract.

Separately, Rocket Lab and Raytheon, a unit of RTX Corporation (RTX), were selected to demonstrate advanced technologies for the U.S. Space Force's Space Based Interceptor program. That's a key missile defense initiative, and being chosen for it is a big deal for a company that's increasingly positioning itself as a defense contractor.

On the acquisition front, Rocket Lab announced a definitive agreement to acquire Motiv Space Systems, a California-based spacecraft robotics and motion control specialist. The deal is expected to strengthen Rocket Lab's vertically integrated space systems strategy and expand its capabilities for future lunar and deep-space missions. It's another piece in the puzzle of building a one-stop shop for space.

Now, the numbers. Rocket Lab reported first-quarter revenue of $200.35 million, topping analyst estimates of $189.68 million. The company posted a loss of 7 cents per share, in line with Wall Street expectations. For the second quarter, the company forecast revenue of $225 million to $240 million, well above consensus estimates of $205.05 million. Rocket Lab expects adjusted EBITDA loss between $20 million and $26 million. So still burning cash, but the revenue trajectory is clearly pointing up.

Analysts are bullish. The stock carries a Buy rating with an average price target of $91.20. Recent moves include Stifel raising its forecast to $105 on April 20, Roth Capital bumping its target to $100 on April 17, and Citizens upgrading the stock to Market Outperform with an $85 target on April 7.

Rocket Lab shares were up 6.64% at $83.79 in premarket trading Friday. With a launch backlog that's now over $2.2 billion and a growing list of government and commercial customers, the company is making a strong case that it's more than just a small-launch player. The Neutron rocket hasn't even flown yet, but the orders are already rolling in.