In Q1'26, RKLB's Gross Margin reached 38.2%, marking a continued upward trajectory and the highest level in the observed period. Operating Margin improved slightly to -27.9%, while Net Profit Margin narrowed its loss to -22.5%, indicating ongoing progress toward profitability amid operational efficiencies. Over the period from Q2'23 to Q1'26, Gross Margin exhibited a steady upward trend, rising from 23.5% to 38.2% with minor fluctuations, reflecting enhanced cost management in core operations. In contrast, both Operating Margin and Net Profit Margin remained negative throughout, starting from deep losses of -72.8% and -74.0% respectively, and gradually improving to -27.9% and -22.5% by Q1'26, driven by significant narrowing in Q3'25 and sustained gains thereafter, though full profitability has yet to be achieved. This line chart highlights RKLB's improving margins but underscores persistent challenges in overhead and non-operating costs.