Rocket Lab Corporation is a space company that provides launch services and space systems solutions in the United States, Canada, Japan, and internationally. It operates through launch services and space systems segments, offering launch services, spacecraft design and manufacturing, spacecraft components, optical systems, and on-orbit and constellation management services, and it designs and manufactures small and medium-class rockets along with flight and ground software. Its products include the Electron orbital small launch vehicle and the Neutron launch vehicle, which is being developed for large constellation deployments, interplanetary missions, and potentially human spaceflight. The company serves commercial, aerospace prime contractor, and government customers. Formerly known as Rocket Lab USA, Inc., it changed its name to Rocket Lab Corporation in August 2021, was founded in 2006, and is headquartered in Long Beach, California.
Rocket Lab rides Nasdaq-100 inclusion, Iridium deal, and record launch cadence
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Nasdaq-100 inclusion Joining the Nasdaq-100 index on June 22 forced index-tracking funds to buy RKLB shares, creating steady demand and lifting the stock.
Index inclusion is a major new demand catalyst for the stock.
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Iridium acquisition transforms company Rocket Lab agreed to buy Iridium for $8 billion at a 24% premium, turning it into a full-service space company and sending shares up about 16%.
The transformative acquisition is the biggest new strategic event of the period.
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Record launch cadence and repeat demand NASA booked three Electron launches, a tenth straight Synspective launch was confirmed with 17 more booked, and a record 16h42m Space Force turnaround showed operational strength.
These operational wins demonstrate growing demand and execution capability.
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SpaceX IPO and Starfall test pressure SpaceX's IPO siphoned investor attention and capital from small space stocks, while its successful Starfall reentry pod test beat Rocket Lab's in-development system.
This is the main competitive and capital headwind facing Rocket Lab.
Iridium acquisition adds recurring revenue and scale Rocket Lab agreed to buy Iridium for $8 billion, gaining 2.55 million subscribers and steady cash flow. The stock jumped 24% on the news. This makes Rocket Lab a broader space company, not just a launch provider, which supports a higher value.
The Iridium deal is the biggest new event this period and directly changes Rocket Lab's business and stock story.
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Record-fast Space Force mission proves rapid launch capability Rocket Lab completed the VICTUS HAZE mission for the Space Force in record time, launching just 16 hours after notice. This shows its ability to respond quickly for defense customers, which can lead to more government contracts and revenue.
This new mission success demonstrates a unique capability that could drive future defense demand.
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SpaceX IPO sell-off creates buying opportunity A sell-off in space stocks after the SpaceX IPO made Rocket Lab shares cheaper despite strong revenue growth and a large backlog. Analysts see this as a sentiment-driven dip, not a fundamental problem, which could attract buyers and lift the stock.
This explains a recent price drop and why it may reverse, directly addressing the stock's movement.
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Synspective launches and new 20-mission contract boost demand Rocket Lab completed two Electron launches for Synspective and signed a multiyear deal for 20 more, its largest commercial Electron contract. This adds to its launch backlog and shows growing demand for its small rockets, supporting future revenue.
This new contract and successful launches directly increase Rocket Lab's backlog and demonstrate commercial demand.
Q3 2026
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Neutron Delay and Margin Miss Weigh on Rocket Lab
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Record Q2 Revenue and Backlog Q2 revenue hit a record $234M, up 62% from a year ago, with a $2.36B backlog. Big Space Force wins (~$700M) and a $266M suborbital contract boosted future work.
Shows strong demand and financial growth, a key positive for the stock.
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Iridium Acquisition Clears Antitrust The $8B Iridium deal cleared antitrust review and adds 2.55M subscribers, expanding Rocket Lab's space services. But it also brought heavy dilution: 29.3M shares and $1.94B raised.
Major strategic move that transforms the company, with both benefits and costs.
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Neutron First Launch Delayed Neutron's first launch slipped to late 2026 or 2027 after a tank failure. A full-duration engine test passed, but the delay pushes back a key growth driver.
Neutron is central to Rocket Lab's future, so delay is a major negative.
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Margin Miss and Governance Risks Q3 gross margin guidance of 29–31% badly missed, sending shares down 9%. Adjusted EBITDA losses persist, and CEO Peter Beck's 5M-share sale, a securities class action, and Iridium deal-fairness probes add risk.
Directly hit investor confidence and stock price, with ongoing overhangs.
News & notes movingRKLB
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Space Economy▲2
Rocket Lab Wins Synspective's Record 20-Launch Electron Contract
Rocket Lab Corporation announced a multi-year agreement to launch 20 new Electron missions from Launch Complex 1 for Synspective, carrying StriX synthetic aperture radar satellites to sun-synchronous orbit annually from 2028 through 2031. The contract is the largest commercial launch deal for Electron so far and lifts Rocket Lab's backlog above 100 missions, deepening its role in building Synspective's global Earth-imaging constellation. The deal reinforces Electron's position as a high-cadence small-launch workhorse and slightly reduces near-term lumpiness risk in the launch book, though the key near-term catalyst and risk remain Neutron test progress and ongoing cash burn. Rocket Lab's US$1.944 billion equity raise to fund the pending Iridium acquisition shows management leaning on the balance sheet to expand into higher-value space systems and communications, amplifying the benefits of large multi-year contracts like Synspective's while raising the stakes around dilution and execution. Analysts had already modeled revenue near US$2.2 billion and earnings around US$365 million by 2029 on the optimistic side, against a more cautious consensus that treats cash burn and contract lumpiness as core risks.
Alphabet Unveils Gemini 4 Argon as Accenture, Micron Beat Estimates
Alphabet rose 2% in premarket trading after unveiling Gemini 4 Argon, its most advanced artificial intelligence model yet, which the company said delivers improvements in cybersecurity, coding and complex professional work. Accenture soared 17% after fiscal fourth-quarter revenue of $18.68 billion beat its own guidance of $17.75 billion to $18.4 billion and the FactSet consensus estimate of $18.3 billion, with earnings of $3.29 per share also topping expectations. Rocket Lab climbed 4.5% after signing a multiyear launch agreement for 20 new Electron missions with Tokyo-based company Synspective, which Rocket Lab called the largest commercial launch contract for Electron to date. Micron reported better-than-expected fiscal fourth-quarter results, earning an adjusted $33.42 per share on revenue of $54.23 billion versus analyst estimates of $31.61 per share on revenue of $51.07 billion, though the stock fell slightly while the Roundhill Memory ETF gained more than 1% and the VanEck Semiconductor ETF advanced 1%. McCormick rose nearly 5% on third-quarter adjusted earnings of 86 cents per share and revenue of $2.02 billion, both above consensus, while Dollar Tree added 1.3% on a Loop Capital upgrade to buy from hold and Nu Holdings gained nearly 6% after denying it is pursuing a transaction with U.K. digital bank Monzo.
ACN · Capital · Positive Accenture's fiscal Q4 revenue of $18.68B and EPS of $3.29 both beat guidance and consensus.
DLTR · Capital · Positive Dollar Tree rose after Loop Capital upgraded the stock to buy from hold.
GOOG · Technology · Positive Alphabet unveiled Gemini 4 Argon, its most advanced AI model yet, with improvements in cybersecurity, coding and complex professional work.
MKC · Capital · Positive McCormick's Q3 adjusted EPS of 86 cents and revenue of $2.02B both topped consensus.
MU · Capital · Positive Micron's fiscal Q4 adjusted EPS of $33.42 and revenue of $54.23B beat analyst estimates.
NU · Capital · Positive Nu Holdings gained nearly 6% after denying it is pursuing a transaction with U.K. digital bank Monzo, removing M&A uncertainty.
Goldman Sachs flags 20 Russell 1000 stocks with widest revenue forecast dispersion
Goldman Sachs is telling investors to hunt for alpha in stocks where the firm holds a differentiated view on long-term revenue growth, as valuation dispersion stays narrow and growth stocks trade at a sizable premium. Chief U.S. equity strategist Ben Snider screened the Russell 1000 for companies with market caps above $5B and average analyst estimates calling for annual sales growth of more than 10% three years from now. From that group, Goldman identified the 20 stocks with the widest dispersion in analysts' three-year revenue forecasts, where differentiated views offer greater potential for alpha, and the 20 stocks where estimates are most tightly clustered. Space Exploration Technologies Corp. tops the widest-dispersion list with 72% FY3 sales growth and a dispersion reading of 0.31, followed by IREN Limited at 75% growth and 0.26, Rambus Inc. at 25% and 0.24, IonQ, Inc. at 39% and 0.24, and Rocket Lab Corporation at 33% and 0.23. On the narrowest-dispersion side, Jersey Mike's Subs, Inc. leads with 12% FY3 sales growth and a dispersion of 0.01, alongside Samsara, Inc. at 20% and 0.01, SailPoint, Inc. at 19% and 0.01, and Edwards Lifesciences Corporation at 11% and 0.01.
JMKE · Capital · Neutral Leads the narrowest-dispersion list with 12% FY3 sales growth, cited only as a screen result.
RMBS · Capital · Neutral Named among the 20 stocks with widest analyst revenue-forecast dispersion, offering alpha potential but no company-specific development.
SAIL · Capital · Neutral Named among the stocks with narrowest analyst revenue-forecast dispersion, cited only as a screen result.
SPCX · Capital · Neutral Tops Goldman's widest-dispersion list with 72% FY3 sales growth, but the mention is a screen result, not a company event.
IONQ · · Neutral Named on Goldman's widest revenue-forecast dispersion list (39% growth, 0.24); no company-specific development.
IREN · · Neutral Named on Goldman's widest revenue-forecast dispersion list (75% growth, 0.26); no company-specific development.
Rocket Lab Launches 97th Electron Mission, Deploys 13th StriX Satellite for Synspective
Rocket Lab launched its 97th Electron mission, delivering the 13th StriX satellite for Earth-monitoring constellation operator Synspective into a 559km low Earth orbit. The 'Owlright Owlright Owlright' mission lifted off from Rocket Lab Launch Complex 1 in New Zealand at 12:39 p.m. NZST on 26 September 2026. The deployment expands Synspective's synthetic aperture radar imaging constellation, which provides high-resolution, all-weather, day-and-night imaging of the Earth's surface. The flight was Rocket Lab's 18th launch this year, sustaining Electron's position as the world's most frequently-launched small-lift orbital rocket. Across a multi-year partnership, Electron has now deployed all 13 StriX satellites with 100% mission success, and another 14 launches remain on schedule to deliver the rest of Synspective's constellation by the end of the decade.
Space Economy › Launch Services & Propulsion ▲Demand
Space Economy › Earth Observation & Geospatial Data ▲Supply
RKLB · Demand · Positive Rocket Lab successfully launched its 97th Electron mission, deploying a Synspective StriX satellite, with 14 more launches remaining on the multi-year contract.
290A.JP · Demand · Positive Synspective's StriX constellation expanded with its 13th satellite deployed, with 14 more launches scheduled to complete the constellation by decade's end.
SpaceX Halts New Falcon 9 Rideshare Reservations as Rocket Lab Stands to Gain
SpaceX has reportedly stopped accepting new reservations for Falcon 9 rideshare missions, betting that Starship will be ready to fill the resulting capacity gap. Elon Musk has said Falcon will wind down once Starship is flying reliably several times per week, but Starship has yet to demonstrate a tower catch and reflight of its upper stage, and DZ Bank started coverage with a Sell rating and a $100 price target, citing heavy capital spending, a $60 billion acquisition, and rising tradable shares as IPO lock-ups expire. Falcon 9 completed 107 missions in 2026 through September 19, suggesting the move is a strategic bet rather than a response to capacity constraints. Rocket Lab stands as the most direct beneficiary, with its Neutron rocket targeting the medium-lift reusable market Falcon 9 dominates; its second-quarter backlog reached $2.36 billion, up 137% year-over-year, with more than 90 launches under contract, though Rocket Lab has said the window for an end-of-2026 Neutron launch is narrowing. Rocket Lab short interest has risen to 7.6% of float as of August 31, 2026, from 5.4% since the stock's all-time high of $151 in late May, while hedge fund ownership grew from 43 funds at the end of Q1 2026 to 52 at the end of Q2 2026.
Space Economy › Launch Services & Propulsion Competition
SPCX · Capital · Negative DZ Bank initiated coverage with a Sell rating and $100 price target, citing heavy capex, a $60 billion acquisition, and rising tradable shares as lock-ups expire.
SPCX · Competition · Negative SpaceX stops accepting new Falcon 9 rideshare reservations, betting on Starship which has yet to demonstrate tower catch and upper-stage reflight.
RKLB · Competition · Positive SpaceX halting new Falcon 9 rideshare reservations leaves the medium-lift market open for Rocket Lab's Neutron, with backlog up 137% to $2.36B and 90+ launches under contract.
DZ BANK AG · Capital · Negative DZ Bank started coverage with a Sell rating and $100 price target, citing heavy capital spending, a $60 billion acquisition, and rising tradable shares as IPO lock-ups expire.
Yuanta highlights the new era of the space economy after the ISS is retired in 2030
Yuanta Securities says the space economy is entering a major turning point after the International Space Station, the backbone of off-world scientific experimentation for more than 26 years, prepares to be retired around 2030, as demand for access to space from the private sector keeps rising, especially for medical research and the development of data centers in space. This is reflected in the number of projects approved for launch to the ISS, which hit a record high of 115 projects in fiscal year 2025, with nearly 80% being commercial research projects. The transition to the era of commercial space stations is happening alongside a sharp fall in the cost of reaching space, thanks to reusable rocket technology, particularly from SpaceX. Global pharmaceutical companies such as Merck and Bristol Myers Squibb are already using low-gravity conditions to study the properties of drugs, while privately held Varda is developing autonomous vehicles for experiments or manufacturing in orbit to return products to Earth. The space economy's market value is expected to rise from 630 billion dollars in 2023 to 1.16 trillion dollars in 2030 and reach 1.79 trillion dollars in 2035, or average annual growth of 9%, which would benefit leaders in space transport such as SpaceX and Rocket Lab, as well as Redwire, which specializes in equipment and systems for space operations. Rocket Lab recently won a 266 million dollar contract from the U.S. Space Force for a missile-defense test launch mission, plus another contract worth 397 million dollars to build satellites that detect and track targets from space. Although bottom-line profit may not yet be strong in this period, the revenue trend and the value of work in hand, or backlog, are growing very strongly, reflecting robust demand. The Bloomberg Consensus sets a target price of 3.66 baht per DR, which is seen as leaving room for further upside of as much as 50%.
Space Economy › In-Space Manufacturing & Commercial Stations ▲Demand
Space Economy › Launch Services & Propulsion ▲Demand
Space Economy › Satellite & Spacecraft Manufacturing ▲Demand
RKLB · Demand · Positive Cited as a space transport leader benefiting from rising demand, with a $266M Space Force launch contract and a $397M satellite contract growing its backlog.
RDW · Demand · Positive Named as a beneficiary of the growing space economy, specializing in equipment and systems for space operations.
Rocket Lab's Iridium Deal Heads to Shareholder Vote
Iridium Communications shareholders will vote on September 24 on Rocket Lab's proposed acquisition, one of the space industry's largest proposed consolidations. Rocket Lab shares rose 8% on September 21 to close at $69.89, their best single-day performance in nearly two months, before rallying another 2% overnight as CEO Peter Beck laid out his fullest public case yet for the deal. Beck said he "probably shouldn't have called it Rocket Lab" and should have called it Space Lab, describing the merger as creating a self-launching "tier-1 space power" that adds Iridium's satellite communications services to Rocket Lab's rockets and spacecraft. Rocket Lab has fully financed the acquisition through a $1.9 billion share offering, existing company liquidity, and an amended $1.7 billion term loan at Iridium, after initially securing $3.6 billion in committed debt financing from Deutsche Bank and Wells Fargo. The transaction carries an $8.1 billion enterprise value, and the $1.944 billion ATM offering diluted existing shareholders, while Iridium's roughly $1.775 billion term loan will remain in place after closing with a guarantee from Rocket Lab USA. Following Beck's comments, Cantor Fitzgerald maintained its Overweight rating and $122 price objective for Rocket Lab, implying approximately 75% upside, citing Neutron's upcoming introduction and the Iridium close as important catalysts, with a targeted mid-2027 close still subject to regulatory approvals and other closing conditions.
Space Economy › Launch Services & Propulsion ▲Capital
Space Economy › Satellite Connectivity & Direct-to-Device Competition
Space Economy › Satellite Broadband, MSS & Ground Equipment Competition
Space Economy › Satellite & Spacecraft Manufacturing Competition
RKLB · Capital · Positive Rocket Lab's proposed Iridium acquisition is fully financed via a $1.9B share offering, liquidity, and an amended $1.7B term loan, with Cantor Fitzgerald maintaining Overweight and a $122 target.
IRDM · Capital · Neutral Iridium shareholders will vote Sept 24 on Rocket Lab's proposed acquisition; the deal's terms and $1.775B term loan remaining in place are the key facts for Iridium holders.
Cantor Fitzgerald · Capital · Positive Cantor Fitzgerald maintained its Overweight rating and $122 price objective on Rocket Lab, citing Neutron and the Iridium close as catalysts.
Cathie Wood's ARK Buys $25.1 Million of Rocket Lab, Trims Alphabet
Cathie Wood's ARK Invest bought 359,612 shares of Rocket Lab across three exchange-traded funds for about $25.1 million, while selling 16,422 shares of Alphabet valued at roughly $5.8 million through two funds, in trades disclosed Tuesday. The Rocket Lab buying follows the company's recently completed $1.944 billion share offering to finance its planned acquisition of Iridium, which is targeted to close in mid-2027. Rocket Lab is also approaching the expected debut of its larger Neutron rocket, and the Iridium deal would add satellite communications operations and recurring revenue streams as the company expands beyond launch services. Alphabet shares fell more than 1% Tuesday, while Rocket Lab climbed nearly 3%. The trades do not explain ARK's reasoning and show a continued increase in its Rocket Lab exposure alongside a smaller reduction in Alphabet.
Rocket Lab Shares Rise 2.99% as Analysts Eye Upcoming Earnings
Rocket Lab Corporation closed the latest trading session at $71.98, up 2.99% from the prior day's close, while the Dow fell 0.36% and the Nasdaq gained 0.45%. Over the past month the stock has risen 2.36%, outpacing an 8.1% loss in the Aerospace sector but trailing the S&P 500's 1.27% gain. For its forthcoming earnings report, the company is forecast to post an EPS of -$0.02, a 300% downward movement from the year-ago quarter, on revenue of $255.89 million, up 65% from the equivalent quarter last year. For the full year, the Zacks Consensus Estimates project earnings of -$0.05 per share and revenue of $945.03 million, changes of +81.48% and +57.03% respectively from the preceding year. Rocket Lab currently holds a Zacks Rank of #2 (Buy), with the consensus EPS projection unchanged over the past 30 days, and its Aerospace - Defense Equipment industry carries a Zacks Industry Rank of 43, placing it in the top 18% of more than 250 industries.
RKLB · Capital · Neutral Analysts eye upcoming earnings with forecast EPS of -$0.02 and revenue of $255.89M, but the article only reports the share price move and estimates with no new company-specific development.
Rocket Lab has secured $1.94 billion through an at-the-market share sale to fund its planned Iridium acquisition, replacing a planned $3.6 billion bridge facility and reducing its need for debt financing at the cost of a higher share count. The company also added to its order pipeline with a $190 million award for 20 HASTE hypersonic test flights and a separate $266 million Space Force contract covering at least 12 suborbital missions, and it was selected by Viasat to provide a satellite bus for a protected communications program. Rocket Lab has completed 96 Electron launches, including 17 missions this year. Raymond James initiated coverage with an $80 price target, citing growth opportunities and a potential path toward positive EBITDA and free cash flow by 2027 or 2028, though the company still reports negative free cash flow and operating losses. Shares climbed about 2% Tuesday as investors weighed the defense awards, satellite work and financing progress.
Space Economy › Satellite Connectivity & Direct-to-Device Competition
RKLB · Capital · Positive Rocket Lab raised $1.94B via at-the-market share sale to fund the Iridium acquisition, replacing a $3.6B bridge facility and cutting debt needs.
RKLB · Demand · Positive Rocket Lab won a $190M award for 20 HASTE hypersonic test flights and a $266M Space Force contract for at least 12 suborbital missions.
VSAT · Demand · Positive Viasat selected Rocket Lab to provide a satellite bus for a protected communications program, a contract win for Rocket Lab.
IRDM · Capital · Neutral Rocket Lab's $1.94B share sale funds its planned Iridium acquisition, a deal that would make Iridium a target but with unclear terms for Iridium holders.
RJF · Capital · Positive Raymond James initiated coverage on Rocket Lab with an $80 price target, a positive analyst call from the firm.
Cantor Reiterates Overweight on Rocket Lab With $122 Target
Cantor Fitzgerald reiterated an Overweight rating and a $122 price target on Rocket Lab, implying roughly 89% upside from current levels, sending shares higher Monday. Analyst Andres Sheppard called the stock a good entry point ahead of two potentially transformative catalysts: the first launch of Neutron and the expected closing of Rocket Lab's acquisition of Iridium. Neutron, which Rocket Lab still targets launching later this year, is designed to carry roughly 13,000 kilograms of payload versus about 300 kilograms for Electron, and management expects each Neutron launch to generate roughly $50 million to $55 million, with Sheppard seeing the rocket eventually emerging as an alternative to SpaceX's Falcon 9. Rocket Lab has raised $1.944 billion through an at-the-market share offering, removing a major financing hurdle for the Iridium deal, which is expected to close in mid-2027 subject to regulatory approval and which Sheppard expects to roughly double the combined company's annual revenue. The company completed its 96th Electron mission on September 19, marking its 17th launch of 2026, and has another 15 dedicated missions planned for Synspective through the end of the decade.
Space Economy › Launch Services & Propulsion ▲Competition
Space Economy › Satellite Broadband, MSS & Ground Equipment ▲Capital
Space Economy › Satellite & Spacecraft Manufacturing Technology
RKLB · Capital · Positive Cantor Fitzgerald reiterated Overweight and a $122 price target, calling Rocket Lab a good entry point ahead of Neutron's first launch and the Iridium deal.
IRDM · Capital · Positive Rocket Lab's acquisition of Iridium is expected to close in mid-2027 and roughly double combined annual revenue, a positive M&A event for Iridium.
290A.JP · Demand · Positive Rocket Lab has 15 dedicated Electron missions planned for Synspective through the end of the decade, a concrete launch-services order.
Raymond James Starts Rocket Lab at Outperform With $80 Target
Raymond James launched coverage of Rocket Lab Corporation on September 11 with an Outperform rating and an $80 price target, implying roughly 29% upside from current levels. Analyst Brian Gesuale framed Rocket Lab as an emerging, vertically integrated space platform spanning launch, spacecraft, components, payloads and optical communications, and projected a path to positive adjusted EBITDA and free cash flow by 2027-2028. The firm flagged two upside drivers beyond the core launch business: Neutron, Rocket Lab's medium-lift reusable rocket, which is now under testing with launch pad delivery scheduled for the fourth quarter and is expected to expand its addressable market in 2027, and its push into satellite operations and optical communications through its completed $155.3 million purchase of Mynaric in April 2026 and its pending roughly $8 billion acquisition of Iridium Communications, which would bring Iridium's operating satellite network, L-band spectrum and more than 2.55 million billable subscribers. Raymond James also cited substantial execution risk, including aggressive Street gross-margin assumptions, the complexity of transitioning Neutron from development to commercialization, and the integration risk of absorbing both Iridium and Mynaric, with the Iridium deal still seeking regulatory approval. On the launch side, Rocket Lab completed its 16th Electron mission of 2026 on September 11, launching an Earth-observation satellite into a 500-kilometer low-Earth orbit for a confidential customer from Launch Complex 1 in New Zealand, and added another Electron mission on September 19 to reach 96 total launches, closing in on its annual record of 21 set in 2025. Institutional ownership rose from 43 funds in the first quarter to 52 in the second for Rocket Lab, and from 31 to 37 for Iridium.
Space Economy › Launch Services & Propulsion ▲Competition
Space Economy › Satellite & Spacecraft Manufacturing Competition
Space Economy › Satellite Broadband, MSS & Ground Equipment Competition
RJF · Capital · Positive Raymond James initiated coverage of Rocket Lab with an Outperform rating and $80 price target, implying ~29% upside.
RKLB · Capital · Positive Raymond James started Rocket Lab at Outperform with an $80 target, citing Neutron, satellite operations and optical communications upside.
RKLB · Demand · Positive Rocket Lab completed its 16th Electron mission of 2026 and added a September 19 launch, reaching 96 total launches.
IRDM · Capital · Neutral Rocket Lab's pending ~$8B acquisition of Iridium would absorb its satellite network, L-band spectrum and 2.55M subscribers, but the deal still needs regulatory approval.
Mynaric · Capital · Neutral Rocket Lab completed its $155.3M purchase of Mynaric in April 2026, integrating its optical communications business.
Rocket Lab Expands Spacecraft Component Portfolio as 2026 EPS Growth Seen at 81.48%
Rocket Lab Corporation is expanding its spacecraft component portfolio, commercializing technologies developed for its launch vehicles and spacecraft programs, including avionics subsystems, radios and batteries. The company says its flight hardware has flown on more than 1,800 missions, an installed base it cites as the foundation for broadening its product offering. Rocket Lab's strategy extends beyond launch services into the spacecraft supply chain, aiming to widen its addressable market and capture growing constellation demand. The Zacks Consensus Estimate projects Rocket Lab earnings per share growth of 81.48% in 2026 and 240% in 2027. The stock trades at a forward 12-month price-to-sales of 31.43X versus an industry average of 7.25X, and its shares have rallied 32.2% over the past year against a 4.9% decline for the industry. Northrop Grumman and L3Harris Technologies are also named as companies providing spacecraft and space-system technologies.
Space Economy › Satellite & Spacecraft Manufacturing ▲Demand
Space Economy › Launch Services & Propulsion Competition
RKLB · Demand · Positive Strategy aims to widen addressable market and capture growing constellation demand for spacecraft components.
RKLB · Technology · Positive Rocket Lab is commercializing avionics, radios and batteries developed for its launch and spacecraft programs, expanding its component portfolio.
Rocket Lab has fully financed its planned $8 billion acquisition of Iridium Communications, removing a major uncertainty around the deal while introducing substantial equity dilution for shareholders. The company raised roughly $1.94 billion by issuing 29.3 million shares and eliminated the need for a previously arranged $3.6 billion bridge loan. Rocket Lab said proceeds from its completed at-the-market offering, combined with available liquidity and Iridium's existing financing, are sufficient to cover the required cash consideration and transaction expenses. Iridium also amended its $1.775 billion term-loan facility to permit the change of control, allowing that debt to remain outstanding after closing, supported by Iridium's free cash flow and a Rocket Lab parent guarantee. Rocket Lab agreed in June to acquire Iridium for $54 per share in cash and stock; Iridium generated $871.7 million of 2025 revenue and $495 million of OEBITDA. The next milestones are Iridium shareholder approval, remaining regulatory clearances including FCC consent, and progress toward the targeted mid-2027 close, with U.S. antitrust waiting periods already expired.
Space Economy › Launch Services & Propulsion Capital
Space Economy › Satellite Connectivity & Direct-to-Device Competition
Space Economy › Satellite Broadband, MSS & Ground Equipment Competition
Space Economy › Satellite & Spacecraft Manufacturing Capital
RKLB · Capital · Neutral Rocket Lab fully financed the $8B Iridium acquisition but issued 29.3M shares (~$1.94B) causing substantial equity dilution.
IRDM · Capital · Positive Rocket Lab fully funded the $8B acquisition of Iridium and amended Iridium's $1.775B term loan to permit change of control, removing deal uncertainty.
Berenberg Analyst Names Rocket Lab and AST SpaceMobile as Top Space Picks
Berenberg analyst Michael Filatov issued Buy ratings on Rocket Lab USA and AST SpaceMobile, arguing that falling launch costs have pushed the space economy past $500bn in 2025 and put it on track to exceed $1trn by 2030. Filatov set an $83 price target on Rocket Lab, implying 33% upside, citing the company's vertically integrated launch, manufacturing and applications model, a record $2.36 billion backlog at the end of 2Q26 that was up 137% year-over-year, and 2Q26 revenue of $234 million, up 62% year-over-year and more than $3 million above forecast, alongside a GAAP loss of $0.08 per share. Rocket Lab's Electron rocket has made 95 launches to date, including 16 in 2026, and the company has pushed the first launch of its larger Neutron rocket to early next year, with delivery to the launch pad during 4Q26. For AST SpaceMobile, Filatov set a $92 target, implying 53% upside, pointing to its BlueBird satellite constellation, more than 60 mobile network operator partnerships covering roughly 3 billion subscribers, and a $1.3 billion revenue backlog, though the company's 2Q26 GAAP loss of $0.77 per share missed estimates by $0.48. Rocket Lab carries a Strong Buy consensus with a $110.13 average target, while AST SpaceMobile holds a Moderate Buy consensus with an $88.98 average target.
Rocket Lab and AST SpaceMobile both reported second-quarter 2026 results on August 10, 2026, with Rocket Lab posting $234.07 million in revenue, up 62.0% year over year, while AST SpaceMobile's revenue of $31.52 million missed consensus by 8.36%. Rocket Lab's backlog swelled to $2.36 billion, up 137%, with Space Systems contributing $189.5 million after the Mynaric and Motiv deals closed, and CEO Peter Beck called it another fantastic quarter. AST SpaceMobile's GAAP loss ballooned to -$0.77 per share after a $125.9 million charge tied to the BB7 launch incident, though its constellation now holds 13 spacecraft with roughly 20,000 square feet of aperture, and CEO Abel Avellan said the company is preparing to initiate beta services with select strategic partners. Rocket Lab's announced Iridium acquisition adds 66 satellites, 2.5 million subscribers, and more than $870 million in annual revenue, while its Neutron rocket, priced at a $50 to $55 million ASP, is targeting a Q4 2026 pad delivery, with Beck admitting the window for an end-of-year launch is narrowing. AST SpaceMobile has 60-plus MNO partners covering 3 billion subscribers, a preliminary $1 billion J-LEO award with Rakuten in Japan, and Block 2 satellites aimed at roughly 200 Mbps peak data rates, with Q2 capex hitting roughly $610 million. Both stocks have cooled, with RKLB down 22.56% over the past month and ASTS off 16.36%.
Space Economy › Launch Services & Propulsion ▲Demand
Space Economy › Satellite & Spacecraft Manufacturing ▲Demand
Space Economy › Direct-to-Device (satellite-to-cell) ▼Capital
Space Economy › Satellite Connectivity & Direct-to-Device Competition
ASTS · Capital · Negative AST SpaceMobile's Q2 revenue of $31.52M missed consensus by 8.36% and GAAP loss ballooned to -$0.77/share after a $125.9M BB7 launch charge.
RKLB · Capital · Positive Rocket Lab posted Q2 revenue of $234.07M, up 62% YoY, with backlog swelling 137% to $2.36B.
Rocket Lab Launches 16th Electron Mission of the Year
Rocket Lab Corporation launched its 16th Electron rocket of the year on September 11, 2026, a dedicated mission for a confidential customer. The mission, named "Happily Ever Faster," lifted off from Rocket Lab Launch Complex 1 in New Zealand at 3:28 p.m. NZST and successfully deployed a single Earth observation satellite to a 500km circular low Earth orbit. The launch marks Rocket Lab's 16th of the year and its 95th launch overall. Rocket Lab said its next Electron launch is scheduled from Launch Complex 1 for another commercial constellation operator before the end of the month. The company said Electron's regular and reliable launch cadence provides schedule certainty and dedicated access to space as global launch availability continues to strain the market.
Space Economy › Launch Services & Propulsion ▲Demand
Space Economy › Earth Observation & Geospatial Data ▲Supply
RKLB · Demand · Positive Rocket Lab successfully launched its 16th Electron mission of the year for a customer, demonstrating continued launch demand and cadence.
Rocket Lab unveils lighter, germanium-free solar cell
Rocket Lab announced the production release of its Inverted Metamorphic (IMM) Apex solar cell, a next-generation product for space applications that achieves 31.5% solar conversion efficiency, weighs 40% less, and eliminates the need for germanium substrates, a material used in conventional multi-junction solar cells for three decades. Company President Brad Clevenger said the cell addresses rising material costs and supply chain constraints while offering faster production times and proven reliability. Shares rose 5% in premarket trading following the announcement.
Space Economy › Satellite & Spacecraft Manufacturing ▲Technology
RKLB · Technology · Positive Rocket Lab announces production release of its new IMM Apex solar cell with higher efficiency, lighter weight, and no germanium, addressing material costs and supply constraints.
SpaceX, AST SpaceMobile, Rocket Lab Fall Despite Trump Launch Memo
SpaceX, AST SpaceMobile, and Rocket Lab shares fell on Monday despite President Trump's memo targeting at least 1,000 launches and re-entries annually by 2030. SpaceX stock dropped 3% to $133.48, AST SpaceMobile fell 3% to $66.85, and Rocket Lab slipped 2% to $71.22, while the Procure Space ETF declined just 0.4% to $45.75. Rocket Lab CFO Adam Spice said a successful Neutron test launch would flip the company to meaningfully adjusted EBITDA positive the following quarter, but CEO Peter Beck warned the window for an end-of-year launch is narrowing. The memo directs agencies to identify federal land for new launch and re-entry sites, name a new federal re-entry site within 90 days, expedite permitting, speed environmental reviews, and secure wireless spectrum.
Space Economy › Satellite Connectivity & Direct-to-Device Regulation
RKLB · Technology · Negative CEO warns window for Neutron test launch narrowing, impacting future revenue and EBITDA.
ASTS · Regulation · Negative Trump memo aims to boost launches but shares fell; no direct company-specific impact, but regulatory push may not offset market concerns.
SPCX · Regulation · Negative Despite memo, shares fell; regulatory changes may not immediately benefit SpaceX.
President Donald Trump signed a memo Thursday directing federal agencies to dramatically ramp up commercial rocket activity, setting a target of at least 1,000 launches and re-entries annually by 2030, according to Reuters. Last year's total sat at 178 launches, already 10 times the 2013 figure, so reaching 1,000 would mean roughly a fivefold jump from current levels. The memo directs agencies to look at federal land for new launch and re-entry sites, calls for a new federal re-entry site to be identified within 90 days, and tells officials to expedite permitting, speed up environmental reviews, and secure adequate wireless spectrum for launches. SpaceX carried out 170 launches in 2025 and deployed about 2,500 satellites, and the company said in January it wants to eventually field a constellation of one million satellites to help power AI data centers from orbit, while the FAA's chief said in May that SpaceX aims to hit 10,000 annual launches within five years. Rocket Lab offers a smaller but growing alternative and could see incremental launch volume as agencies push to diversify beyond a single dominant provider. White House Office of Science and Technology Policy Director Michael Kratsios framed the memo as a commercial-first approach, pairing the launch targets with a broader lunar and Martian push, and Trump wants American astronauts back on the moon by 2028 with initial Moon Base elements by 2030.
Space Economy › Satellite & Spacecraft Manufacturing ▲Demand
SPCX · Demand · Positive SpaceX is the dominant launch provider and stands to benefit from the federal target of 1,000 launches annually by 2030.
RKLB · Demand · Positive Government push for 1,000 launches by 2030 could increase demand for Rocket Lab's launch services as agencies seek diversification.
Rocket Lab Secures Prime Spot on Nearly $1 Billion Space Force Program
Rocket Lab has secured a prime position on the US Space Force NITE-STAR IDIQ contract, making it eligible to compete for task orders in a nearly US$1 billion advanced space test infrastructure program. The company was also selected by Viasat to build a secure mini-GEO satellite bus for the Protected Tactical SATCOM-Global military communications constellation. Both awards expand Rocket Lab's role in US defense and space operations and create the potential for substantial multi-year revenue opportunities in secure government space systems.
Rocket Lab Secures Record $266 Million Space Force Contract
Rocket Lab has secured a $266 million contract from the U.S. Space Force to provide around a dozen suborbital launches, with an option for more, marking the company's largest launch contract award ever. The first launch is expected by the end of 2026. Earlier this year, the Pentagon awarded Rocket Lab a $190 million contract to support hypersonic flight testing, and the company is working with RTX on the proposed Golden Dome missile defense initiative. Hedge fund sentiment was mixed in the first quarter, with the number of funds holding Rocket Lab shares dipping to 43 from 45, though Marshall Wace raised its stake by 1,213% to $120.8 million and Tudor Investment Corp opened a new position of about $27.3 million.
Rocket Lab CEO Says Iridium Deal Won't Compete With Starlink
Rocket Lab CEO Peter Beck said the company's planned $8 billion acquisition of Iridium Communications will expand its satellite communications business without directly competing with Elon Musk's Starlink or Amazon's Leo. In a CNN interview, Beck emphasized Iridium's L-band spectrum, which can penetrate bad weather and buildings, and said Rocket Lab could eventually provide something new and unique that hasn't been seen before. He also highlighted defense opportunities and the ability to replace damaged satellites within hours using a low-Earth orbit constellation. The news comes as Rocket Lab was onboarded to the United States Space Force's NITE-STAR program, a $981 million contract vehicle supporting space test and training infrastructure.
Rocket Lab Launches 93rd Electron Mission for iQPS
Rocket Lab Corporation successfully launched its Electron rocket to deploy the latest Earth-imaging satellite for the Institute for Q-shu Pioneers of Space, Inc. The mission, named 'The Lightning God Defends', lifted off from Rocket Lab Launch Complex 1 in New Zealand at 1:04 a.m. NZST on August 21, 2026, and placed the next QPS-SAR satellite into a 575km low Earth orbit. This was Rocket Lab's 93rd overall Electron launch and 14th launch of the year, and the ninth deployment of a QPS-SAR satellite with 100% mission success. Nine dedicated launches remain booked on Electron by iQPS to deliver their constellation to space by 2030.
Space Economy › Launch Services & Propulsion ▲Demand
RKLB · Demand · Positive Rocket Lab successfully launched its 93rd Electron mission for iQPS, with nine dedicated launches remaining booked, indicating strong customer demand.
464A.JP · Demand · Positive iQPS's satellite was successfully deployed, and the company has nine more dedicated launches booked, supporting its constellation deployment.
Space Force Awards $60M to Break SpaceX Orbital Monopoly
The U.S. Space Force has awarded five $12 million contracts under a $60 million effort to prove non-SpaceX satellites can plug into the Space Data Network backbone that SpaceX built under a $2.29 billion award in May 2026. The move comes as SpaceX completed its 100th launch of 2026, pushing the Starlink constellation past 11,000 satellites. L3Harris Technologies, AST SpaceMobile, Rocket Lab, Viasat, and Iridium Communications are directly positioned to benefit from the Pentagon's push to avoid single-vendor dependency in space. Rocket Lab's $8 billion all-stock acquisition of Iridium, announced June 28 and targeted to close mid-2027, would create the only vertically integrated public SpaceX alternative, folding in 66 operational satellites and roughly $870 million in annual revenue.
Space Economy › Launch Services & Propulsion ▲Competition
IRDM · Demand · Positive Iridium is one of five companies awarded contracts to integrate with Space Data Network, reducing reliance on SpaceX.
RKLB · Demand · Positive Rocket Lab is a direct beneficiary of the Space Force's push to diversify space infrastructure, and its acquisition of Iridium strengthens its position.
ASTS · Demand · Positive Space Force contracts to prove non-SpaceX satellites can use Space Data Network directly benefit AST SpaceMobile.
LHX · Demand · Positive L3Harris is among the five companies receiving contracts to demonstrate interoperability with the Space Data Network.
VSAT · Demand · Positive Viasat is one of the five companies awarded contracts to integrate with the Space Data Network, expanding its government business.
Rocket Lab joins U.S. Space Force Space Data Network Consortium with $12M orders
Rocket Lab Corporation announced on Tuesday its onboarding into the U.S. Space Force’s Space Data Network, or SDN, Consortium, expanding vendor diversity for the Space Data Network Backbone, or SDN-B, a key initiative to develop a secure, high-speed global satellite communications network for military operations. In addition, Rocket Lab has been competitively awarded two delivery orders totaling a combined value of $12M to support the SDN-B program to demonstrate interoperability of secure optical communications in space. Under the delivery orders, Rocket Lab will leverage the company’s advanced capabilities to support the development of the SDN Backbone program, including the design, testing, and demonstration of key technologies to enable seamless communication between satellites and ground systems. Rocket Lab will also conduct an in-orbit demonstration using a Rocket Lab-built Photon spacecraft equipped with advanced optical and network capabilities to demonstrate interoperability. Rocket Lab is expected to deliver an operational demonstration for the SDN-B program in 2027.
Elon Musk Says SpaceX Will Hit $1 Trillion in Revenue by 2030
Elon Musk says SpaceX will hit $1 trillion in annual revenue by 2030, one year earlier than his original 2031 target. To reach that milestone, SpaceX would need to grow its top line at a five-year compound annual growth rate of 121.7% from its 2025 revenue of $18.67 billion. The company expects Starlink to generate $200 billion to $250 billion, launch services $30 billion to $50 billion, and its AI segment $700 billion to $750 billion by 2030. Analysts currently project SpaceX revenue of $184.5 billion by 2028, and the company faces competition from AST SpaceMobile, Rocket Lab, and Amazon.
Rocket Lab Stock Rises as MDA Satellites Reach Orbit
Rocket Lab Corporation stock traded nearly 1% higher during Monday's premarket session as technology stocks gained. The company said Sunday that eight satellite platforms it built for MDA Space Ltd. successfully reached orbit on Aug. 15, the first of 17 platforms under a $143 million deal. Rocket Lab also entered into a replacement equity distribution agreement last week allowing it to sell up to $1.94 billion of common stock to fund its proposed acquisition of Iridium Communications Inc. and reduce debt. The stock carries a Buy consensus rating with an average price forecast of $107.71 across 27 analysts.
Rocket Lab reported second-quarter revenue of $234.1 million, up 62% year over year and 0.9% above analyst expectations. The company also beat EPS estimates and issued next-quarter EBITDA guidance above consensus, scoring the highest guidance raise among the 14 aerospace stocks tracked. Astronics posted the best quarter with revenue of $260 million, up 27% and 6% above estimates, while AerSale was the weakest with revenue down 33.9% to $70.93 million, missing by 12.7%. TransDigm revenue rose 22.5% to $2.74 billion, and Redwire revenue jumped 89.6% to $117.1 million, the fastest growth in the group.
Rocket Lab-built satellites for MDA Space begin operations in orbit
Rocket Lab said eight satellite platforms it built for MDA Space have entered orbit, marking the first deployment under a $143 million contract covering 17 spacecraft. The satellites launched Aug. 15 at 9:12 p.m. Eastern time from Cape Canaveral Space Force Station in Florida, and Rocket Lab has established contact with all eight spacecraft, which are generating power and operating as expected. MDA Space is the prime contractor overseeing the replenishment of Globalstar’s existing satellite constellation, which provides direct-to-device communications and internet-of-things connectivity. The spacecraft are customized versions of Rocket Lab’s Lightning satellite platform, each weighing about 500 kilograms and built and tested at the company’s headquarters in Long Beach, California. Rocket Lab did not specify when the remaining nine spacecraft under the contract will be launched.
Rocket Lab Posts Record Q2 Revenue and Space Force Contract
Rocket Lab reported record second-quarter revenue of US$234.07 million, a record US$2.36 billion backlog, and a US$397 million U.S. Space Force Flatellites contract, while advancing its Neutron rocket and progressing the planned Iridium acquisition. The company also raised US$1.06 billion via at-the-market equity, with capacity to sell up to US$1.94 billion more, to fund the Iridium deal and its M&A pipeline. Neutron's inaugural launch window may slip into 2027, and integration of Mynaric and Motiv, closing and scaling Iridium, and cash burn remain key catalysts and pressure points. Simply Wall St community members have 28 fair value estimates for Rocket Lab, ranging from US$16.25 to US$150 per share, reflecting wide disagreement over a business that is still unprofitable and funding acquisitions with multi-billion-dollar equity programs.
Rocket Lab Clears US Antitrust Review for Iridium Acquisition
Rocket Lab said the Hart-Scott-Rodino waiting period on its proposed acquisition of Iridium Communications expired yesterday, clearing US antitrust review. The company holds a $3.6 billion 364-day senior secured bridge term loan committed from Deutsche Bank and Wells Fargo, and intends to replace it with permanent debt and equity. Rocket Lab is asking lenders to let Iridium's existing term loan facility, $1.775 billion outstanding at June 30, stay in place after closing at what it calls more attractive rates than the bridge, though there is no assurance the consents come through. The equity piece is a replacement distribution agreement allowing sales of up to $1.94 billion of stock at the market, carrying forward the unsold amount from a May 20 program that has been terminated. Rocket Lab stresses no shares beyond that unsold balance are on offer, and if the deal falls through the proceeds would fund future growth and possible acquisitions instead.
Space Stocks Split as Intuitive Machines Misses Q2 Revenue
Space stocks traded in split fashion Thursday after Intuitive Machines reported second-quarter revenue of $206.2 million, missing the FactSet consensus of $216.3 million and posting a wider-than-expected loss. The company booked $920 million in new awards during the quarter and ended with a $1.8 billion backlog, which helped limit the selloff. SpaceX fell 3.5% intraday, AST SpaceMobile dropped 3%, and Intuitive Machines was down roughly 1.6%, while Rocket Lab rose 1.1% after reporting Q2 revenue of $234.07 million, up 62% year over year, with a record $2.36 billion backlog. Planet Labs and Redwire held modestly green, signaling sector rotation rather than a broad space selloff.
Cathie Wood's ARK Invest purchased 292,873 shares of Rocket Lab worth about $23.4 million on Tuesday, doubling down on the SpaceX competitor after its post-earnings weakness. The purchase came after Rocket Lab reported second-quarter revenue of $234 million, up 62% year over year and a company record, but a wider-than-expected loss of $0.08 per share versus the $0.07 analysts expected. CEO Peter Beck warned that the window for a first Neutron launch by year-end is narrowing, though the company says production of the first-stage tank remains aligned with delivering the vehicle to the launchpad in the fourth quarter. Rocket Lab's backlog surged 137% to a record $2.36 billion, with more than 90 launches contracted, and the company expects third-quarter revenue of $250 million to $265 million, which would mark another quarterly record. Wood simultaneously sold about $20 million of Deere stock, highlighting ARK's continued preference for space and other disruptive-growth themes.
Rocket Lab CEO Says Iridium Deal Avoids Broadband Battle With Musk and Bezos
Rocket Lab CEO Peter Beck said the company's planned $8 billion acquisition of Iridium Communications will focus on space services outside the consumer broadband market dominated by Elon Musk's Starlink and Jeff Bezos' Amazon Leo. Speaking on Rocket Lab's second-quarter earnings call, Beck said Iridium's L-band spectrum is the wrong kind for broadband and that competing would be difficult because the two most wealthiest people in the world are going after that. Instead, Rocket Lab plans to expand Iridium into satellite IoT, direct-to-device connectivity, positioning, navigation and timing, defense, aviation and maritime safety. Rocket Lab reported second-quarter revenue of $234.07 million, beating the consensus estimate of $231.35 million, with a loss of 8 cents per share versus the expected 7 cents, and guided third-quarter revenue between $250 million and $265 million, above analysts' estimate of $238.53 million.
RKLB · Capital · Positive Beat revenue estimates and raised Q3 guidance, while outlining strategic acquisition of Iridium.
IRDM · Demand · Positive Acquisition by Rocket Lab focuses on expanding Iridium's services in IoT, defense, and aviation, boosting its business prospects.
Rocket Lab has agreed to acquire Iridium Communications, aiming to combine Iridium's satellite communications network with its own launch and satellite manufacturing operations. The planned deal is intended to expand Rocket Lab's role beyond launch services into broader space applications using Iridium's existing infrastructure. Both companies expect the transaction to reshape their positions in satellite services, with potential effects on how rivals compete for government and commercial customers. The key reference point is the agreed US$54 per share collar structured acquisition price and whether the transaction closes on the mid 2027 timetable, given the required shareholder and regulatory approvals. Investors can also track Iridium's quarterly dividend decisions, including the US$0.15 per share payout scheduled for September 30, 2026, as a signal on capital return while the deal is pending.
FAA proposal to waive environmental reviews boosts commercial space launch stocks
A proposed FAA rule to waive environmental review requirements for commercial space launches is adding regulatory momentum to a sector already showing strong backlog growth and balance sheet expansion across key publicly traded names. The FAA's late-July proposal would waive environmental review requirements under 13 federal statutes for qualifying commercial space launch licenses, with the public comment period expiring on August 31. Transportation Secretary Sean Duffy described the effort as supercharging commercial space activity, slashing costs, and strengthening America's competitive edge, while the agency projects licensed operations climbing from 214 this year to as many as 507 by 2036. Rocket Lab secured more than $437 million in new launch contracts across Electron, HASTE, and Neutron vehicles in Q2 and the period since, pushing its total launch backlog past 90 missions, though shares fell more than 9% after management signaled the Neutron rocket's first flight window could slip into 2027. AST SpaceMobile reported Q2 revenue of $31.5 million, up from roughly $15 million in Q1, and reiterated full-year guidance of $150 to $200 million, while SpaceX's Starlink missions accounted for roughly 79% of Falcon 9 launches in 2026, up from 54% in 2020.
Rocket Lab shares fell as much as 5.7% after the company's Neutron rocket timeline softened, with an analyst noting that while Neutron remains on track to reach the launch pad in the fourth quarter, an initial launch could be pushed to 2027. Riot Platforms struck a $9.1 billion, 20-year deal with Anthropic to supply 191 megawatts of AI data center capacity from its Rockdale, Texas campus. Babcock & Wilcox Enterprises rose in premarket after signing an agreement with Siemens Energy to produce steam turbine generator sets. US-listed shares of On Holding dropped as much as 17% in premarket trading after the Swiss sneaker maker's second-quarter sales came in lower than expected.
Rocket Lab Posts Record Revenue and $2.36 Billion Backlog as Neutron Delay Weighs on Shares
Rocket Lab reported record second-quarter revenue of $234 million, up 62% year over year, and its backlog swelled to $2.36 billion, yet shares fell nearly 10% in after-hours trading after CEO Peter Beck said the launch window for the Neutron rocket is narrowing. The company secured more than $1 billion in new business during the quarter, including $581 million in new awards and $437 million in new launch bookings, while Space Systems revenue grew 39% sequentially. Beck is prioritizing Neutron reusability and repeatable cadence over a rushed maiden flight, aiming to build a full-stack space platform that will be further strengthened by the pending acquisition of Iridium, which generates roughly $870 million in annual recurring revenue. Cantor Fitzgerald raised its price target to $122 from $96, citing the record results and the Iridium deal. Adjusted EBITDA loss narrowed to $8.8 million, and third-quarter revenue is guided to between $250 million and $265 million.
Space Economy › Launch Services & Propulsion Competition
Space Economy › Satellite & Spacecraft Manufacturing ▲Capital
RKLB · Technology · Negative Neutron launch window narrowing and CEO prioritizing reusability over rushed maiden flight weigh on shares despite record revenue.
IRDM · Capital · Positive Pending acquisition by Rocket Lab adds ~$870M annual recurring revenue, strengthening the combined platform.
Cantor Fitzgerald · Capital · Positive Cantor Fitzgerald raised price target to $122 from $96, citing record results and Iridium deal.
Riot Platforms surges 18% on $9.1 billion AI data center deal with Anthropic
U.S. stock futures were little changed on Tuesday, as fading hopes for a deal to reopen the Strait of Hormuz kept oil prices elevated, while investors looked ahead to key U.S. inflation data for fresh clues on the Federal Reserve's interest rate path. Riot Platforms shares surged 18.3% in premarket trading after the company landed a $9.1 billion, 20-year AI data center contract with Anthropic, marking one of the largest deals yet to link the cryptocurrency mining industry with the rapidly expanding AI infrastructure market. NIQ Global Intelligence shares surged 15.2% after delivering a broad second-quarter earnings beat and raising its full-year outlook, with adjusted EPS of $0.27 versus a $0.21 consensus and revenue of $1.12 billion edging past expectations of $1.11 billion. On Holding shares fell 15.2% after reporting second-quarter net sales of CHF 850.3 million, below the roughly CHF 881 million analysts had expected, as management pointed to a more difficult consumer environment and higher U.S. tariff costs. Rocket Lab shares dropped 9% despite record second-quarter revenue of $234 million, as third-quarter GAAP gross margin guidance of 29% to 31% came in well below the Street's estimate of about 37.6%. Hims & Hers Health shares fell nearly 7% even after better-than-expected revenue and a raised full-year forecast, as investors focused on profitability pressures from expansion into branded GLP-1 weight-loss drugs and international markets.