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RKLB rebound

Buy Rocket Lab (RKLB). The stock is down 56% from its peak, RSI has turned up to ~40, and a double-bottom is forming with a neckline around $86.6. Fundamentals back the chart: Q2 revenue +62%, backlog $2.36B, and guidance for Q3 revenue $250–$265M with gross margin 29–31%. Thesis: the market is over-discounting near-term execution risk and will re-rate once the $86.6 level breaks, opening a path toward ~$100.

Key Risk: A guidance miss or margin compression that proves the backlog growth isn’t translating into profitable revenue.

Iridium acquisition leverage

Buy RKLB more aggressively on any dip. The $8B Iridium deal is the catalyst: spectrum (L-band) expands Rocket Lab’s addressable services and creates a credible platform for higher-margin, recurring revenue beyond launches. Second-order setup: as spectrum monetization becomes clearer, analysts will lift long-term revenue and multiple, not just near-term sales—supporting a sustained move above the $86.6 neckline rather than a quick technical bounce.

Key Risk: Regulatory/technical delays or deal economics that make spectrum monetization slower or more expensive than expected.

Rocket Lab stock has slumped in recent months despite the company hitting several major milestones. Shares peaked at $150 in May before tumbling 56% to the current $65. This pullback could be a good buying opportunity, as a double-bottom pattern appears to be forming.

RKLB, one of the top players in the space industry, is doing well as demand for its services continues rising. It has made some major contract announcements recently with organizations like the Space Force, Viasat, and MDA. 

Rocket Lab also announced the release of Inverted Metamorphic (IMM) Apex, which is the latest iteration of its next-generation solar cell designed to deliver efficiency and reliability for space applications. Brad Clevenger, the company’s president, said: 

“With IMM Apex, customers gain access to a high-efficiency, lightweight, germanium-free product that combines proven reliability with faster production times.

The company also announced strong financial results, which showed that its business continues to grow. Its revenue jumped by 62% in the second quarter to over $234 million. 

The revenue surge happened as its backlog soared to over $2.36 billion and management expects the surge to continue in the foreseeable future. For example, it expects its third-quarter revenue to come in between $250 million and $265 million, with its gross margin between 29% and 31%.

READ MORE: Cathie Wood buys $31.6M of Rocket Lab stock: is she betting the selloff went too far?

Analysts also expect that its revenues will come out stronger. The average estimate is that its annual revenue growth will be 59% to $958 million, followed by $1.36 billion next year. This revenue growth will be a 42% annual increase.

Rocket Lab has also delivered on other major milestones, including its $8 billion deal to acquire Iridium. The acquisition will give it highly sought-after spectrum and help unlock new markets. Specifically, Rocket Lab will gain access to the L-band spectrum, which could support additional services, potentially even a Starlink competitor.

Analysts are largely bullish on Rocket Lab shares. Berenberg initiated the coverage with a buy rating and a target of $83, much higher than where it is today. Bank of America’s Ronald Epstein has a target of $110, while Citizens’ Trevor Walsh has a target of $130. Some of the other top analysts with a bullish outlook on the company are from Cantor Fitzgerald, Citigroup, and Craig Hallum. 

RKLB stock chart | Source: TradingView

The daily chart shows that the RKLB stock has retreated from a high of $150 in May this year to the current $65.87. It has dropped below the strong pivot/reverse level of the Murrey Math Lines tool at $75. 

The stock has slumped below 50-day and 100-day moving averages, a sign that bears are in control for now. On the positive side, the Relative Strength Index (RSI) has reversed and moved to 40, its highest level since August 24. 

The stock is also slowly forming a double-bottom pattern whose neckline is at $86.6, its highest point on August 10. A double-bottom pattern is a common reversal sign in technical analysis. 

Therefore, the stock will likely bounce back in the near term, with the next key target being the neckline at $86. A move above that level will point to more gains towards $100.

SummaryRocket Lab is upgraded to a bullish rating after a 40%+ stock pullback and strengthened fundamentals.The company delivered record Q2 revenue of $234.07M, up 62% YoY. A robust backlog shows demand remains solid.The Iridium acquisition expands RKLB's full-stack space infrastructure strategy and opens new satellite communications opportunities.Valuation has contracted to a forward P/S of 40, creating a favorable risk/reward setup despite near-term Neutron launch delays. J Studios/DigitalVision via Getty Images

Introduction In early June, just before the SpaceX (SPCX) IPO, I provided an update for Rocket Lab Corporation (RKLB). It was shown that they were well positioned with their full-stack space infrastructure solutions and that demand

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Analyst's family has a beneficial long position in the shares of SPCX.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways RKLB secures two SDN-B orders to support secure optical communications for military operations.RKLB will demonstrate satellite-to-ground interoperability using its Photon spacecraft in orbit.RKLB's SDN-B work spans satellite development, communications technologies and mission operations. Rocket Lab Corporation (RKLB - Free Report) is expanding its role in military space communications after being selected for the U.S. Space Force’s Space Data Network (“SDN”) Consortium. In August 2026, the company announced two delivery orders worth a combined $12 million to support the Space Data Network Backbone (“SDN-B”), which is being developed as a secure, high-speed satellite communication network for military operations.

The contracts will support the design, testing and demonstration of secure optical communications in space, including interoperability between satellites and ground systems. Rocket Lab will use a company-built Photon spacecraft equipped with optical and network capabilities for an in-orbit demonstration, with an operational demonstration expected in 2027.

The SDN-B work gives Rocket Lab an opportunity to participate in a broader defense communications architecture rather than focusing solely on individual spacecraft or launch missions. The company’s involvement spans satellite development, communications technologies and mission operations, providing a foundation for supporting the different elements required for space-based connectivity.

The initial $12 million award is relatively small, but the strategic opportunity could be more important if Rocket Lab successfully demonstrates the required technology and interoperability. Successful execution could help the company pursue additional work tied to military satellite communications as the U.S. Space Force continues developing resilient and secure networks for global operations.

Companies Advancing Satellite CommunicationsThe growing need for secure and resilient satellite communications is creating opportunities for companies developing connectivity infrastructure for government and commercial users. Viasat Inc. (VSAT - Free Report) and Iridium Communications Inc. (IRDM - Free Report) are also active in the satellite communication market.

Viasat provides satellite communications and connectivity solutions for government and commercial customers, with capabilities spanning satellite networks and secure communications.

Iridium Communications operates a global satellite communication network, providing voice and data services to government, commercial and other specialized users.

Earnings Estimates for RKLB StockThe Zacks Consensus Estimate for 2026 and 2027 earnings per share suggests year-over-year growth of 81.48% and 240%, respectively.

Image Source: Zacks Investment Research

RKLB Stock Is Trading at a PremiumRocket Lab is trading at a premium relative to the industry, with a forward 12-month price-to-sales of 32.05X compared with the industry average of 7.55X.

Image Source: Zacks Investment Research

RKLB Stock Price PerformanceOver the past year, RKLB shares have rallied 34.6% against the industry’s 0.1% decline.

Image Source: Zacks Investment Research

RKLB’s Zacks RankRocket Lab currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

This summer, we saw the debut of Space Exploration Technologies -- otherwise known as SpaceX -- stock in a massive initial public offering (IPO). We also saw share prices across space-economy stocks collapse after said IPO, with no better example than Rocket Lab (RKLB +0.70%), one of the sector's biggest names in public markets.

Shares of the rocket flight and space services company trade down about 58% from the highs set earlier this year, even though its revenue grew 62% year over year last quarter. A falling share price and a growing business can develop into a great buying opportunity.

Does that mean now is the time to buy the dip on Rocket Lab stock?

Image source: Getty Images.

More Neutron delays There is a lot going on with Rocket Lab's business, but none is more important to its future than a product that doesn't generate any revenue today: its Neutron rocket.

The Neutron is a larger rocket type than its existing workhorse, named the Electron. Larger payloads mean each launch can carry more products into orbit for third parties (mainly satellites), resulting in more revenue per launch. It is similar in size to SpaceX's workhorse Falcon 9 rocket, and the Neutron already has numerous proposed orders from commercial operators and the United States government.

So, what's the problem? Well, originally, the Neutron rocket was planned to debut in 2024. Over the last few years, this first launch date has been consistently pushed back, and most recently, it looks like it won't happen until the beginning of 2027. Without the Neutron performing test flights and eventually carrying commercial payloads, Rocket Lab's launch revenue will remain sub-scale compared to competitor SpaceX.

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Aiming for fully integrated services For those who are taking a long-term view, it may not matter exactly which quarter the Neutron begins flying, only that it eventually starts flying regularly without mishaps, helping Rocket Lab's launch division take a great leap forward.

The Neutron brings together Rocket Lab's comprehensive long-term vision: to be a fully integrated seller of products and services for the space economy. In fact, its space systems segment -- which houses divisions that make items such as satellites, optical lenses, software, and robotics for third parties in space -- generated more revenue last quarter ($189.5 million) than its launch division ($44.6 million).

Once the Neutron is up and running, it should lead to even more contracts and revenue from space systems, because Rocket Lab can then sell its launch service and the sub-components of customer payloads as a bundle.

Even longer-term, Rocket Lab plans to sell its own space-economy services. This is being accelerated with its acquisition of Iridium Communications, which operates a satellite internet constellation. Leveraging its expertise in space systems development, Rocket Lab plans to accelerate Iridium's growth to help it compete more directly with SpaceX's Starlink service.

Data by YCharts.

Time to buy the dip on Rocket Lab? There is a lot to like about the potential growth of Rocket Lab. When you add up Neutron, space systems, and the Iridium acquisition, it wouldn't be shocking to see its trailing revenue of $769 million grow into the billions within a few years.

You might be thinking this makes the stock an easy buy-the-dip candidate. There are a few problems, though. Rocket Lab has never generated a profit, and its gross margins are quite low given the heavy capital intensity of rocket launches and space manufacturing. This needs to be taken into account when valuing shares.

The stock's shares don't look that cheap, either, even after getting cut in half within the last few months. It has a price-to-sales ratio (P/S) of 48, which implies many years of growth are already priced in. This is 48 times its trailing revenue, let alone any potential earnings power hidden in all of Rocket Lab's upfront investments.

Even if a company has a blue ocean of growth ahead, valuation still matters, which is why investors should not yet buy the dip in Rocket Lab stock.

ARK Invest just loaded up on a rocket company trading at a fraction of SpaceX's valuation, and the timing raises a pointed question about whether the recent selloff is a warning sign or a once-in-a-cycle entry point.

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Cathie Wood’s ARK Invest scooped up 705,102 shares of Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) across two trading sessions, according to TipRanks’ reporting on the firm’s daily fund disclosures. The buying came as the stock extended a losing streak, with shares slipping 5.51% over the past week and trading at $63.57 in Friday’s session. The purchase suggests ARK views the pullback as an entry point into a name it has long positioned as a core space-economy holding, even as it trimmed positions elsewhere in its book, including Advanced Micro Devices (NASDAQ:AMD).

A $38 Billion Company Versus a Trillion-Dollar Rival [stock_chart symbol=”RKLB”]

The size gap frames the scale of the bet. SpaceX carried a market capitalization of roughly $1.14 trillion as of September 4, 2026, according to Google Finance. Rocket Lab’s market capitalization stood at roughly $38.04 billion as of the same date. The publicly traded pure-play alternative for space-launch exposure remains a fraction of the private launch giant, whose recent IPO reset investor expectations for the sector. Investors seeking direct SpaceX exposure have gravitated to fund vehicles such as the Destiny Tech100 SpaceX proxy (NASDAQ:SPCX), which has gained 19.48% over the past month.

Why Rocket Lab Is SpaceX’s Closest Public Rival Rocket Lab’s Electron rocket has flown 13 launches this year with 100% mission success, serving the small-satellite market. Its medium-lift Neutron rocket, designed to compete more directly with SpaceX’s Falcon 9, is targeting delivery to the pad in Q4 2026, though it has not yet flown. Cantor Fitzgerald has characterized Rocket Lab as the premier alternative to SpaceX. The operational gap remains vast: SpaceX said it delivered roughly 2,500 tons a year to orbit via Falcon and accounts for 80 to 90% of total Earth mass to orbit per year.

More Than a Launch Company Space Systems drives the majority of Rocket Lab’s business, outpacing launch. In Q2 2026, Space Systems revenue reached $189.5 million, while Launch Services revenue was $44.6 million. Rocket Lab has stacked acquisitions to widen the moat, closing deals for Mynaric, Motiv, and an announced deal for Iridium Communications. Iridium, if closed, brings a constellation of 66 satellites and more than 2.5 million subscribers, positioning Rocket Lab to build, launch and operate its own constellations. The company posted $234.07 million in Q2 revenue, up 61.99% year over year, with backlog reaching $2.36 billion. Details are available in the company’s Q2 2026 earnings exhibit filed with the SEC.

Recent Decline in Context Rocket Lab is down 14.33% over the past month and 8.53% year to date. The one-year picture looks different: shares are up 46.59%, and up 371.97% over five years. ARK’s buying into the recent weakness fits a pattern of adding to conviction names when short-term sentiment softens. CEO Peter Beck framed the quarter this way: “Q2 was another fantastic quarter for Rocket Lab, highlighted by record results and massive momentum that has continued well after the close.”

What Has to Go Right Management guided Q3 revenue to $250M-$265M, and expects roughly 45.5% of current backlog to convert into revenue within the next twelve months. For the bull case to work, Neutron has to fly, and the backlog has to convert. Beck told analysts that the quarter after Neutron’s first successful test launch would mark the pivot toward positive cash flow, with cash-flow positivity expected 18 to 24 months after that pivot. Wood’s purchase places ARK on that timeline. Keep an eye on the stock as the launch window narrows into year-end.

Contact [email protected] for any questions or corrections.

The summer of the space economy is turning into a pumpkin of a fall. Rocket Lab (RKLB -0.48%) -- a space stock that saw its shares soar around the Space Exploration Technologies (SpaceX) initial public offering -- has now seen its shares fall 57% from its highs in just a few months.

Today, it trades at a market cap of $38 billion and is slated to try to close its massive deal for Iridium Communications soon. I remain bullish on the company's business prospects as it tries to become the second space economy prime contractor alongside SpaceX.

However, I am still not buying unless shares reach a lower level this year. Here's why.

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Ambitious growth plans It is difficult to boil down Rocket Lab's ambitions for the space economy into just a few paragraphs. The company already has a solid footing in the rocket launch business with its small Electron rocket. As of the latest quarterly results, 90+ contracts have now been signed for Electron launches, the highest level in the company's history.

Other revenue today comes from the growth of Rocket Lab's space systems segment, which builds systems for third parties and the U.S. government that can be deployed into space. For example, it just won a contract with the Space Force to build multiple geostationary satellites. This is just one of the many contracts being won in this division, which is why the company's total backlog has now grown to $2.3 billion.

Rocket Lab is not resting on its laurels with these existing business lines. It is in the process of acquiring Iridium Communications, a satellite internet provider that will help Rocket Lab more directly compete with SpaceX, for $8 billion in a half-stock, half-cash deal. Lastly, Rocket Lab is working hard on debuting its Neutron rocket, which has been years in development and is much larger than the Electron. It will either debut with its first full test flight later this year or in early 2027.

Image source: Getty Images.

Path to profitability Despite all these investments, Rocket Lab is not profitable, with a negative free cash flow of $371 million over the last 12 months.

There are a few ways it can scale up to profitability. First, the acquisition of Iridium will be an immediate boost, as the company generated $288 million in positive free cash flow over the last 12 months. Second, once the Neutron starts launching for customers, it will go from a science-project money pit to a revenue generator for the business. Third, the continued scaling of the space systems and Electron business will lead to operating leverage.

All of these feats may take a few years to achieve, but Rocket Lab is well on its way.

RKLB Free Cash Flow data by YCharts

Why Rocket Lab is not yet a buy, but should be on your watch list As a space economy winner, Rocket Lab is most frequently compared to SpaceX. Right now, before the Iridium acquisition closes, Rocket Lab stock has a market cap of $38 billion. SpaceX is approaching $2 trillion. This is a bit of a misleading comparison, because SpaceX is trying to become an artificial intelligence (AI) infrastructure player, which Rocket Lab has never mentioned it wants to do.

A good way to value Rocket Lab stock today is on a price-to-sales (P/S) ratio, which takes out any comparisons to megacap stocks and strictly starts to focus on the fundamentals. On a trailing basis, Rocket Lab trades at a P/S ratio of 48. To be fair, there is a lot of growth coming down the line from the Neutron and this massive backlog, but right now, Rocket Lab trades at a steep revenue multiple. The S&P 500 average is just 3.8, and that is at a record high.

Rocket Lab is a promising business, and I think it will generate billions in revenue in the years ahead. However, I would wait to buy until a much lower price materializes, maybe half of today's level, even though the stock is already down more than 50% from its highs in the last three months.

Rocket Lab stock NASDAQ:RKLB is under pressure, Neutron’s inaugural launch window is narrowing and NASA has handed a major Mars communications contract to Blue Origin.

Yet Cathie Wood’s ARK Investment Management is buying.

ARK purchased 504,799 Rocket Lab shares across three ETFs on Tuesday, worth about $31.6 million at the $62.54 closing price.

That followed 200,303 shares bought Monday, taking two-day purchases to 705,102 shares, worth roughly $44 million.

Rocket Lab fell 2.2% Tuesday, its ninth decline in 10 sessions, then slipped further after hours.

Bank of America analyst Ronald Epstein lowered his Rocket Lab price target to $110 from $115 on August 31 but kept a Buy rating.

TipRanks reported that the cut partly reflected expectations for a higher share count rather than a major deterioration in Epstein’s operating view. At Tuesday’s close, the revised target still implied about 76% upside.

That gives bulls a straightforward argument: even after recent setbacks, one of Wall Street’s freshest targets remains far above the market price.

But a target does not prove the selloff has gone too far. Rocket Lab still has to deliver the growth embedded in those forecasts, and a growing part of that case depends on Neutron.

Rocket Lab wants Neutron to move it beyond small launch and into the larger medium-lift market, but the schedule has become increasingly important.

Chief executive Peter Beck said after second-quarter results that the window for an end-of-year inaugural launch was “narrowing.” Rocket Lab still needs to complete major testing milestones before flight.

Cantor Fitzgerald analyst Andres Sheppard raised his target to $122 from $96 after the results and called Neutron “the most material catalyst,” according to TipRanks.

Sheppard argued that the orbital launch market remains supply-constrained and Rocket Lab is well positioned to benefit through Electron, HASTE and eventually Neutron.

That creates the tension behind Wood’s purchases. If Neutron performs as intended, a stock trading more than 50% below its May record could eventually look discounted.

However, if delays continue, the catalyst supporting some of Wall Street’s highest valuations keeps moving further away.

The latest setback came after Tuesday’s close, when NASA selected Blue Origin to develop its Mars Telecommunications Network.

NASA said the firm-fixed-price contract has a maximum potential value of about $700 million and requires Blue Origin to deliver a Mars telecommunications orbiter by the end of 2028. Rocket Lab had been eligible to compete.

Rocket Lab ended the second quarter with a record $2.36 billion backlog, up 137% from a year earlier.

The company expects about 45.5% of that backlog to be recognised within 12 months and had more than 90 launches booked across Electron, HASTE and Neutron.

Roth Capital analyst Suji Desilva cut his target to $110 from $130 after the quarter but retained a Buy rating. The Fly reported that Desilva said the backlog provides “meaningful near-term revenue coverage.”

That is why Wood’s buying is notable without proving she has called the bottom.

ARK is adding exposure during Rocket Lab’s weakest stretch in months, while analyst targets remain substantially above the share price. But whether the selloff has gone too far now depends increasingly on execution.

Rocket Lab's stock has shed more than half its value from its peak while analysts pile on buy ratings and one major bank sees the price doubling. Something has to give, and the answer hinges on a rocket that has…

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Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) currently trades at $63.92 against a consensus analyst price target of $112.94, implying roughly 77% upside if Wall Street’s average call proves right.

Rocket Lab operates the Electron rocket, the Neutron medium-lift vehicle in development, and a fast-expanding space-systems business. Backlog and revenue are climbing at record pace, yet the stock has been sliding in the opposite direction, creating an interesting disconnect.

KeyBanc carries the Street-high target at $135.00, implying roughly 111% upside from current levels.

Growth Story, Sinking Share Price Rocket Lab’s chart and P&L tell different stories. Shares are down 6.39% over the past week, 8.37% year to date, and sit far below the 52-week high of $151, a peak-to-current drawdown exceeding 57% for a stock with a beta of 2.629.

Q2 revenue of $234.07 million beat consensus of $230.94 million and grew 62.0% year over year, but GAAP EPS of -$0.08 missed the -$0.0767 estimate due to $8.576 million acquisition costs. An $1.53 billion ATM raise in the first half, a narrowing Neutron launch window, and integration risk from Mynaric, Motiv, and Iridium explain market caution.

Why Analysts Remain Bullish The sell side has not blinked. Alpha Vantage shows 3 Strong Buy, 11 Buy, 4 Hold, and 0 Sell ratings, and recent EPS revisions for 2026 and 2027 have skewed upward over the trailing 30 days. Backlog jumped 137% year over year to $2.36 billion, with management booking more than $1 billion in new Q3 contracts.

KeyBanc’s Michael Leshock upgraded to Overweight with the $135.00 target, citing Rocket Lab as the clear No. 2 challenger to SpaceX in commercial launch, high conviction in Neutron scaling, structural undersupply of global launch capacity as Starship absorbs Starlink demand, and a growing defense book anchored by the $397 million Flatellite award for the U.S. Space Force SB-AMTI program.

Management targets Q4 2026 pad delivery for Neutron, but CEO Peter Beck warned that “the window for an end-of-year launch is narrowing.” CFO Adam Spice added that meaningful cash-flow improvement likely follows Neutron’s test flight by 18 to 24 months, framing this as a 2027 story.

Space Peers in the Same Storm AST SpaceMobile (NASDAQ:ASTS) trades at $59.10, down 18.63% year to date, with consensus target at $78.48 for roughly 33% upside and a 1 Strong Buy, 3 Buy, 7 Hold, 1 Sell, 1 Strong Sell split markedly more cautious than RKLB’s.

Planet Labs (NYSE:PL) has held roughly flat year to date at $19.85, but the $40.10 consensus target implies about 102% upside. Ratings run 1 Strong Buy, 6 Buy, 3 Hold, 1 Sell, with analysts pointing to 42% revenue growth and an $816 million backlog.

Intuitive Machines (NASDAQ:LUNR) sits at $15.36 versus a $29.25 target, roughly 90% upside, with 7 Buy, 1 Hold, and 1 Strong Sell.

Planet Labs shows the largest implied upside, but RKLB is the highest-quality name with the cleanest ratings distribution, making KeyBanc’s $135 target stand out even in a discounted peer set.

By the Numbers With shares at $63.92 and a consensus target of $112.94 across 18 analysts, implied upside is roughly 77%, with KeyBanc’s Street-high target stretching that to about 111%. Rocket Lab is down 8.37% year to date while the S&P 500 has climbed 12.48%, a roughly 21-point relative gap.

Ratings breakdown:

Strong Buy: 3 Buy: 11 Hold: 4 Sell / Strong Sell: 0 Rocket Lab trades at 53x trailing sales with a beta of 2.629, so target-price math assumes the growth curve compounds.

Bull and Bear Case for RKLB The bull case rests on Neutron reaching the pad in Q4 2026, flying successfully in early 2027, and Iridium closing on schedule to add recurring communications revenue atop a backlog that grew 137% year over year. If those pieces land, KeyBanc’s $135 target becomes defensible and the current price would reflect a discount window on a genuine SpaceX alternative.

The bear case builds if Neutron slips, the ATM machine keeps running, and integration friction from three simultaneous acquisitions turns 2027 into cleanup rather than scaling. At 53x sales with persistent GAAP losses, a delayed first flight would justify further multiple compression.

The bull thesis is intact, backlog is real, and analyst posture skews positive, though risk/reward only gets easy once Neutron actually flies. The first launch window remains the key catalyst to watch.

Contact [email protected] for any questions or corrections.

Shares of Rocket Lab Corp. (NASDAQ:RKLB) are trading flat Wednesday morning, holding stable after a 10% weekly pullback as investors weigh high development costs against massive defense wins. Here’s what investors need to know.

Rocket Lab stock is showing downward pressure. Where are RKLB shares going? Upcoming Neutron Rocket Tapped for $397M Military DeploymentOn Aug. 4, Rocket Lab won a $397 million U.S. Space Force contract to build, launch and operate threat-tracking “Flatellites” for the Space-Based Airborne Moving Target Indicator (SB-AMTI) program.

Marking Rocket Lab’s largest national security award of the year, the agreement utilizes its upcoming medium-lift Neutron rocket for orbital deployment.

Strong Q2 Earnings and Record Backlog Balanced Against Neutron Development CostsThe stock’s 10% weekly pullback contrasts with Rocket Lab’s strong second-quarter financial results reported on Aug. 10. For the quarter ended June 30, the company delivered a record $234 million in revenue, up 62% year-over-year and expanded its backlog to a record $2.36 billion.

Management guided for third-quarter revenue between $250 million and $265 million, supported by more than $437 million in new launch contracts secured across its Electron, HASTE and Neutron programs.

While national security execution remains a growth driver, underpinned by a $397 million Space Force contract award and inclusion in the defense sector’s NITE-STAR architecture, investors are weighing high operating expenses and ongoing capital expenditures as hardware integration and testing continue for the medium-lift Neutron rocket ahead of its planned debut.

RKLB Shares Pause Wednesday MorningRKLB Price Action: Rocket Lab shares were trading at $66.79 at the time of publication on Wednesday, according to Benzinga Pro data.

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Investors trying to navigate the space industry have no doubt considered investing some of their money in Space Exploration Technologies (SPCX +0.45%).

And why wouldn't they? The company is one of the leading rocket launch companies, has a successful satellite internet business, a top artificial intelligence model, and just had a successful test launch of the largest rocket ever made.

But SpaceX isn't without its issues. For one, it's gone on a massive spending spree to fuel its growth. And, frankly, some investors simply aren't enthusiastic about how Elon Musk runs his companies.

For those looking for an alternative space stock, here's why Rocket Lab (RKLB -4.65%) should be at the top of your list.

Image source: Getty Images.

Rocket Lab's future is about to take off Rocket Lab already has a robust rocket launch business with its Electron rocket carrying payloads into orbit for customers. But its future will be built on its much larger Neutron rocket.

Neutron is a reusable medium-lift rocket capable of sending 28,000 lbs. into low Earth orbit, far more than Electron's 661-lb capacity. This means that Rocket Lab will soon be able to make far more money from its launches than it has previously.

I say "soon" because Neutron is still in the final stages of testing, and management recently said it plans to get Neutron to the launchpad before the end of the year. Neutron has already been delayed before, and management's focus on getting Neutron to the launchpad by the end of 2026, versus actually launching it, could mean Neutron isn't quite ready yet.

Still, Rocket Lab is making progress, and customers are already signing agreements specifically for Neutron launches. The company has at least seven Neutron-specific commercial launches in its backlog through 2029, and likely more through government defense launches.

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One such government contract, worth $397 million, with the U.S. Space Force involves Neutron deploying new flat-panel satellite technology into orbit for the Space Force's Space-Based Airborne Moving Target Indicator (SB-AMTI) program.

What's more, Rocket Lab has 90 launch missions in its backlog for both Electron and Neutron, worth $2.36 billion. While it's not guaranteed revenue, it does show how interested Rocket Lab's customers are in its rocket technology and how successful the company could be once Neutron begins launching payloads.

Why Rocket Lab stock is better than SpaceX Rocket Lab isn't profitable, but its revenue is growing. Sales rose by 62% in the second quarter (ended June 30) to $234 million. The company's losses also narrowed to $0.08 per share, an improvement from $0.13 per share in the year-ago quarter.

SpaceX is in a similar position, albeit at a much larger scale. The company's losses narrowed to $0.09 per share in the second quarter (ended June 30), which was far better than its $0.34 loss in the year-ago quarter. Revenue jumped 92% to $7.8 billion.

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But the main reason Rocket Lab is a better space stock right now is that its spending is under control, while SpaceX's appears to be running wild.

Even as Rocket Lab is building and testing components of its Neutron rocket, the company's capital expenditures (capex) were just $26 million in the second quarter, down from $32 million in the year-ago quarter. That's in stark contrast to SpaceX's $18.3 billion in capex spending in the quarter, a 554% increase from the year-ago quarter.

That's a heck of a lot of spending, and most of it -- nearly $16 billion -- went toward the company's massive Colossus AI data center project. SpaceX will likely continue to spend heavily as it builds out its data centers, which could weigh on the company's earnings for years to come.

Rocket Lab has its risks, but the company is laser-focused on its rocket launch business and isn't burning through billions of dollars in capex. With Neutron on the cusp of launching, a surge in backloads of new contracts, and far less spending, I think Rocket Lab stock looks like the better buy right now.

Although it's now been more than two months since its ballyhooed initial public offering, all eyes are still on Space Exploration Technologies (SPCX +0.45%) -- also known as SpaceX -- arguably at the expense of other space stocks. But that may be a mistake. At least one of the other names in the orbital launch business is quietly making inroads against the industry's biggest player.

That other company is Rocket Lab (RKLB -4.65%), which just signed a launch contract for a rocket that has yet to make its first flight.

Bigger and better Rocket Lab helps companies design and deploy satellites and other space-based technology. Although it's technically not its biggest business, the company's highest-profile profit center at this time is its reusable Electron rocket capable of lifting up to 660 pounds into low earth orbit, or LEO.

Image source: Getty Images.

That's not the end of Rocket Lab's launch-capabilities ambitions, though. It's developing a much bigger reusable rocket called Neutron that will lift in excess of 28,000 pounds' worth of payload into LEO. Canada's space-based telecom outfit Kepler Communications even recently commissioned a dedicated launch of Rocket Lab's Neutron to deploy a handful of its satellites.

The curious part of the agreement? Neutron's never actually been flight-tested.

Unproven, yet still trusted It's not from lack of trying. By early 2025, it looked like the rocket in question would finally be ready for initial flights by the end of that year. Then that milestone was pushed back to early 2026. Then it was pushed back again to late 2026, or even early 2027, as the company continues to address performance and safety issues. And that assumes no new concerns materialize in the meantime. They could.

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Kepler clearly isn't deterred, though. Even with other options -- including SpaceX -- for putting its satellites into low Earth orbit, it chose Rocket Lab's Neutron knowing it wouldn't be handling this contracted work until 2028, at the earliest. What gives?

Take the hint at face value It's not always exactly clear why an organization chooses one company's service over another's. This instance is no exception. It would be short-sighted, however, to ignore the depth and breadth of the service that Rocket Lab brings to the table.

It's not just launch. Satellite components, engineering services, software, and propulsion are all in its wheelhouse, and more, particularly after its recent acquisitions of Iridium Communications and Optical Support. This company is a complete, vertically integrated solutions provider, whereas SpaceX isn't. Although this menu of capabilities may or may not matter to all satellite communications companies in search of launch services, clearly for some of them, the customized assurance that Rocket Lab brings to the table is making a marketable difference.

It's just something to consider if you're mulling stepping into a position in RKLB on this dip, which, by the way, may largely be fueled by the feverish but somewhat reckless bullish interest in SPCX at the expense of other worthy stocks in the industry. That dynamic won't last forever.

Key Takeaways Rocket Lab joins NITE-STAR to support space test and training infrastructure for the U.S. Space Force.RKLB's satellite, software and mission operations capabilities align with NITE-STAR requirements.RKLB's vertically integrated model supports satellite design, manufacturing, launch and on-orbit operations. Rocket Lab Corporation (RKLB - Free Report) is broadening its role in the space industry by participating in the U.S. Space Force's NITE-STAR program. On Aug. 17, 2026, the company announced that it had been onboarded to the NITE-STAR IDIQ contract, which has a $981 million ceiling and is designed to advance space test and training infrastructure. The program provides Rocket Lab with an opportunity to compete for task orders supporting future U.S. Space Force requirements.

NITE-STAR is focused on developing a distributed test and training architecture to prepare space operators for contested scenarios. The program covers several areas, including the development and integration of space-based systems, deployment of ground systems, creation of digital environments and sustainment of operational systems. This gives Rocket Lab an opportunity to apply its space systems expertise beyond launch activities.

Rocket Lab's capabilities in satellite development, space software, space systems engineering and mission operations align with the program's requirements. Its vertically integrated model, which spans satellite design, manufacturing, launch and on-orbit operations, provides capabilities across multiple stages of space missions. This could help it compete for a broader range of NITE-STAR task orders.

The program also provides Rocket Lab with another avenue to deepen its involvement in U.S. government and defense space activities. As space readiness becomes increasingly important, demand for integrated test environments, ground infrastructure and operational systems could create opportunities for specialized space companies. Rocket Lab's participation in NITE-STAR expands its potential addressable market while strengthening its position across the space infrastructure ecosystem.

Companies Expanding Space Test and Training CapabilitiesThe growing focus on space readiness is encouraging defense and aerospace companies to expand capabilities that support space testing, training and mission operations. Companies like L3Harris Technologies, Inc. (LHX - Free Report) and Northrop Grumman Corporation (NOC - Free Report) are also developing technologies and infrastructure for U.S. government space missions.

L3Harris provides space systems, mission technologies and related capabilities that aid government and defense space operations.

Northrop Grumman develops space systems and mission solutions that support satellite operations, space-domain awareness and national security missions.

Earnings Estimates for RKLB StockThe Zacks Consensus Estimate for 2026 and 2027 earnings per share suggests year-over-year growth of 81.48% and 240%, respectively.

Image Source: Zacks Investment Research

RKLB Stock Is Trading at a PremiumRocket Lab is trading at a premium relative to the industry, with a forward 12-month price-to-sales of 36.61X compared with the industry average of 8.32X.

Image Source: Zacks Investment Research

RKLB Stock Price PerformanceOver the past year, RKLB shares have surged 53.7% compared with the industry’s 7.7% growth.

Image Source: Zacks Investment Research

RKLB’s Zacks RankRocket Lab currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

By nearly every operating measure, Rocket Lab (RKLB -0.52%) is delivering. The space company's second-quarter revenue was a record. Its backlog was a record. Its third-quarter guidance calls for another record. And in June, the company announced an $8 billion agreement to acquire satellite operator Iridium Communications (IRDM +1.09%).

The stock reflects all of it. Even at about $73 as of this writing (roughly half its 52-week high of $151), Rocket Lab carries a market value near $45 billion. That is about 59 times the roughly $769 million of revenue the company generated over the four quarters through June 30, based on its last two earnings reports.

To me, that is the figure to hold onto. Because the rocket anchoring the growth story behind that multiple, the medium-lift Neutron, has never flown.

Image source: The Motley Fool.

Records everywhere but the bottom lineSecond-quarter revenue rose 62% year over year to $234 million, which was $34 million above the prior quarter's record. Backlog reached $2.36 billion -- up 137% year over year, and up from $1.85 billion at the end of 2025. And founder and CEO Sir Peter Beck said the company had already signed more than $1 billion in new contracts across launch and space systems since the quarter closed.

Guidance points the same direction. Management expects third-quarter revenue of $250 million to $265 million, which would be another record. And 2025's full-year revenue of $602 million grew 38% from 2024. The growth isn't cooling.

Profitability is the missing piece. Rocket Lab posted a $94 million net loss for the first half of 2026, and its guidance calls for a third-quarter adjusted loss of $17 million to $23 million in earnings before interest, taxes, depreciation, and amortization (EBITDA), with gross margins of 29% to 31% under generally accepted accounting principles (GAAP).

About $2.1 billion of cash and equivalents gives the company plenty of room to keep investing. But this remains a money-losing business valued at $45 billion.

Neutron is the revenue the price assumesFor the growth stock to trade at even 10 times revenue (still arguably a premium price for a hardware-heavy business) with shares simply holding their current value, revenue would need to reach about $4.5 billion -- nearly six times the current trailing figure.

The path there runs through Neutron, the reusable rocket designed to carry payloads far beyond what the company's small Electron vehicle can. After all, part of the new backlog depends on it, including a $397 million Space Force contract to deliver satellites that will launch on Neutron.

So the schedule matters more than usual. In its Aug. 10 second-quarter update, Rocket Lab said production of Neutron's first-stage tank remains aligned with delivering the rocket to the launch pad in the fourth quarter of 2026.

The same day, the company acknowledged the window for a launch this year "is narrowing," saying it is "balancing the schedule of the first launch with entering Neutron into service as a system ready for full-scale production."

The first flight may well slip into 2027.

To be fair, Neutron is not the only growth lever. The Iridium acquisition would fold in an operating satellite network and its subscription revenue when it closes, which the companies expect in mid-2027. The deal values Iridium at $54 per share, with half in cash.

But that revenue isn't free. The roughly $8 billion headline value includes Iridium's debt, and the cash half of the offer relies on a $3.6 billion bridge loan, with the remainder delivered as new Rocket Lab stock. The deal adds debt and share count, as well as sales.

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A valuation that assumes the next company arrivesRocket Lab is one of the most impressive operators in the space industry, and its launch record, backlog, and contract wins are all evidence that demand for what it builds continues to grow.

However, at 59 times revenue, the market isn't pricing the $769 million company that exists today. It is pricing the company Rocket Lab intends to become, one where Neutron flies routinely, the Space Force contracts convert into revenue, and Iridium's subscribers are folded in. Those steps can all still happen, but the price only works if they do.

I'd want to see Neutron leave the ground before calling this valuation reasonable. Until then, the multiple prices at milestones the company hasn't reached yet make the stock one I'd personally pass on.

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. Reaching 1,000 would mean roughly a fivefold jump from current levels.

SPCX stock is moving. See the real-time price action here. The memo directs agencies to look at federal land for new launch and re-entry sites, and calls for a new federal re-entry site to be identified within 90 days. Officials are also told to expedite permitting, speed up environmental reviews and secure adequate wireless spectrum for launches, per Reuters.

SpaceX Still Runs the TableSpace Exploration Technologies Corp. (NASDAQ:SPCX)  dominates the current launch cadence and stands to benefit most from any near-term surge. 

Read Next

SpaceX carried out 170 launches in 2025 and deployed about 2,500 satellites. Its ambitions extend well past government targets — the company said in January it wants to eventually field a constellation of one million satellites to help power AI data centers from orbit, and the Federal Aviation Administration’s chief said in May that SpaceX aims to hit 10,000 annual launches within five years.

Rocket Lab Eyes a Bigger SliceRocket Lab Corp. (NASDAQ:RKLB) offers a smaller but growing alternative. The company has built a reputation on frequent, smaller-payload missions and could see incremental launch volume as agencies push to diversify beyond a single dominant provider.

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Faster permitting and new government-identified sites would lower some of the barriers that have historically slowed newer entrants.

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. 

Moon by 2028, Mars on the RadarTrump wants American astronauts back on the moon by 2028, with initial Moon Base elements by 2030. NASA has been directed to support commercial transportation to the moon and commercial robotic access to Mars, while exploring paths to eventually send humans there too.

The memo also tells agencies to avoid competing with private launch providers unless national security or public safety demands it. Congress had pushed NASA to remain committed to the Artemis moon program even as Trump officials floated a heavier focus on Mars earlier in his term.

Investors in both SPCX and RKLB will likely watch closely for follow-through — permitting speed and site announcements over the next 90 days could be the first real signal of how fast this target moves from memo to launchpad.

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SpaceX (NASDAQ:SPCX | SPCX Price Prediction) stock is down 6% to $131.86 midday Thursday, slipping below the company’s $135 IPO price for the first time since the June debut. Roughly 319 million shares came off lockup this morning, the latest tranche in a staggered release schedule that will eventually free most of the float. A move under the offering price gives sellers a clear reference to trade against as more supply becomes eligible.

At the same time, Rocket Lab (NASDAQ:RKLB) stock is down 4% to $72.67 with no company-specific supply event, drifting lower alongside the broader space complex. Procure Space ETF (NYSEARCA:UFO) shares are down 2% to $45.54 but remain up 17% year to date (YTD), framing how much of the sector has worked this year outside of SpaceX.

Same Unlock Event, Opposite Reaction The revealing detail sits in the comparison to earlier this month. On August 6, up to 911.5 million SpaceX shares became eligible to trade, a far larger tranche, and SpaceX stock absorbed the supply and rose 6% that day. Today’s release is a fraction of that size, yet it has driven shares back under the IPO reference.

Behind the schedule sits a staggered lockup that will free 88% of the company’s 13 billion shares through 2027. SpaceX founder Elon Musk’s 6.42 billion shares remain locked until June 2027, so today’s tranche does not touch insider control. That leaves the immediate supply picture as the driver of the reaction.

What has shifted between August 6 and today looks less like anything at the company and more like the market’s willingness to absorb SpaceX paper at these levels. With a $1.02 trillion market cap, the company can absorb today’s reaction inside a very large float, and the move looks like an adjustment rather than a repricing of the business.

Rocket Lab Falls While Supply Weighs on SPCX Rocket Lab has no unlock catalyst today. This isolates supply as the reason SpaceX stock is falling harder than RKLB stock.

The Procure Space ETF captures the broader space economy across satellite communications, launch services, space infrastructure, aerospace and defense, and Earth observation. A narrow thematic fund concentrates exposure in a relatively small group of names, so a single large mover can swing the basket in either direction. That concentration risk is worth accounting for when using UFO to shape sector exposure.

SpaceX operates across three segments: Space, which covers launch services and spacecraft; Connectivity, which includes Starlink and Starshield; and AI, which houses cloud compute, the Grok models, and the X platform. None of those operating pieces changed this morning. Only the number of shares eligible to trade did, and that mechanical change is doing all of the work in today’s tape.

What Comes Next on the Supply Calendar The largest tranches still sit ahead. A roughly 1.3 billion-share release aligns with SpaceX’s third quarter earnings in early November, followed by the 180-day lockup expiry in December that opens another meaningful chunk of the float. Both dwarf today’s 319 million shares.

Traders may want to watch for whether SPCX stock stabilizes above the $135 IPO reference over the coming sessions, or whether today’s break invites more selling as the November window approaches. With two larger unlocks scheduled between now and year-end, cautious position sizing should treat supply pressure as a scheduled feature of this name rather than a surprise.

Today’s divergence between the two space names is mechanical. Rocket Lab trades on sentiment while SpaceX trades on supply, and the calendar suggests that supply story has further chapters to play out.

Contact [email protected] for any questions or corrections.

Rocket Lab (RKLB -3.56%) just keeps on stacking up wins -- and this time, literally so.

On Aug. 4, the space company announced the U.S. Space Force awarded it a $397 million contract -- one of the company's biggest wins ever -- to supply stackable "Flatellites" for the Space-Based Airborne Moving Target Indicator (SB-AMTI) program.

Image source: Rocket Lab.

What is a Flatellite, and what will it do? Space Force describes SB-AMTI as a "resilient space-based system to detect and track airborne threats in real time" -- so missile-tracking satellites. For its part, Rocket Lab describes the Flatellite as a new satellite design intended to be manufactured in mass quantities and deployed in large numbers, stacked efficiently and integrated seamlessly into its new Neutron reusable medium-lift rocket.

Industry analysts estimate Rocket Lab could fit perhaps 16 of its 800-kilogram Flatellites onto each Neutron (with a payload capacity of 13 tons) that it launches.

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What does this mean for Rocket Lab? For years, Rocket Lab has been rolling up smaller companies in an effort to transform itself into a vertically integrated space company capable of building satellite parts, assembling them into satellites, launching them on its own rockets (which it also builds), and then operating them in orbit. It bought Sinclair Interplanetary for its star trackers in 2020, SolAero in 2022 for its solar arrays, Mynaric in 2026 for laser communications, and, most recently, promised to acquire Iridium Communications and its entire 80-satellite communications constellation for $8 billion.

The Space Force SB-AMTI contract illustrates how these integration efforts have paid off.

Government space contracts often involve multiple moving parts. One company (say, York Space or MDA Space) might be hired to build a satellite, a second company (Space Exploration Technologies or United Launch Alliance) to launch it, and sometimes a third company (Lockheed Martin or perhaps Boeing) to operate the satellites once they're in space.

That's not how this one will work. Rocket Lab will "develop, launch, and operate" all the Flatellites involved in SB-AMTI -- all on its own, vertically integrated, top to bottom. The entire $397 million of this effort will therefore go to Rocket Lab, shared with no one else, paid out to no subcontractors.

Granted, the contract announcement doesn't detail how the money will be allocated among Rocket Lab's several parts -- how much goes to the Launch Services business with its 41% gross profit margin, how much to Space Systems, which earns only 31%, or how much to any new divisions Rocket Lab might designate in the future, such as a "space services" division that provides Internet of Things (IoT) and navigation services from orbit, or a "Rocket Lab Defense" unit handling military contracts.

Viewed just in terms of revenue, however, the contract is already worth more than six months of the $769 million Rocket Lab already makes in a year. And that's not counting any options that might be added on to the company's missile defense work for Space Force. As Rocket Lab evolves even more to specialize in missile defense, we'll get a better idea of how profitable these kinds of contracts are for a fully vertically integrated Rocket Lab.

Rich Smith has positions in Rocket Lab. The Motley Fool has positions in and recommends Boeing, MDA Space, Rocket Lab, and York Space Systems. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.

Rocket Lab stock has rebounded in the past few weeks, moving from a low of $58.25 to $82, helped by its strong earnings and increasing backlog. It also jumped after the company inked a major deal with Viasat and other organizations. It has formed a giant double-bottom pattern, pointing to more upside in the near term.

RKLB stock continued rising this week, reaching a major deal with Viasat, one of the top companies in the satellite communications industry. In a statement, Rocket Lab said that it would deliver a GEO configuration of its high-performance Lightning spacecraft platform to host Viasat’s dual-band X/Ka-band payload. This project is part of the U.S. Space Force. In a statement, Peter Beck, the CEO, said:

"Moving from design into production marks an important milestone for this program and for Rocket Lab's growing role in national security space. By pairing our vertically integrated spacecraft with Viasat's protected communications payload, we're delivering resilient, space-based communications infrastructure that keeps our forces connected.”

More companies and organizations have embraced Rocket Lab’s products and services. For example, it recently implemented a major contract for MDA Space, a Canadian company. This contract was part of the replenishment of Globalstar’s existing constellation, which provides direct-to-device communications services and IoT applications. The first eight of the 17 satellites were launched on August 15.

The most recent results showed that its revenue backlog jumped to $2.34 billion from $2 billion in the first quarter of the year. Its backlog in the third quarter so far was $800 million. Some of these deals are from companies like Kepler Communications, iQPS, and the Space Force.

These numbers helped to push its revenue up substantially. Its revenue jumped by 62% in the second quarter to $234 million, helped by its Space Systems business. 51% of its contracts are from commercial clients, with the rest being government. 

Rocket Lab expects that its vertical integration model will help to boost its revenue growth over time. To achieve that, it recently acquired Iridium in a $8 billion deal. Before that, it acquired Mynaric and Motiv. Mynaric is a laser communications company making optical communication terminals for space and airborne applications. Motiv, on the other hand, makes robotic arms and motor controllers.

Rocket Lab’s growth will likely continue doing well in the coming years. For example, analysts expect the upcoming results to show that its revenue to come in at $230 million, up by 60% from a year earlier. For the year, the revenue is expected to jump by 58% to $952 million, followed by $1.3 billion next year.

Rocket Lab stock chart | Source: TradingView

The daily chart shows that the RKLB stock has rebounded in the past few days. It has jumped from a low of $58.24 to $82 today. A closer look shows that the stock has slowly formed a double-bottom pattern at $58.25 and a neckline at the all-time high of $151.

The risk, however, is that the stock may be forming a head-and-shoulders pattern, a common bearish sign. In this case, the left shoulder is at $99.77. As such, the stock needs to move above the key resistance at $99.77 to confirm the bullish outlook. If this happens, it will raise the possibility of the stock soaring to an all-time high. 

On the flip side, a drop below the support level of $60 will invalidate the bullish outlook and point to more downside.

READ MORE: Analysts raise Rocket Lab stock targets after earnings: Why it could still hit $50

LONG BEACH, Calif., Aug. 16, 2026 (GLOBE NEWSWIRE) -- Rocket Lab Corporation (Nasdaq: RKLB), a global leader in launch services and space systems, today announced the successful launch of eight advanced satellite platforms the Company built for MDA Space (TSX: MDA; NYSE: MDA), prime contractor for the replenishment of Globalstar’s (Nasdaq: GSAT) existing constellation, which provides direct-to-device communications services and IoT applications from orbit.

The satellite platforms are the first batch in a constellation of 17 platforms Rocket Lab has built under a $143 million deal with MDA Space.

The first eight of the 17 satellites were launched on Aug. 15 from Cape Canaveral Space Force Station at 9:12 p.m. ET.

Rocket Lab has made contact with all eight satellites and confirmed all are performing nominally and generating power on orbit. Spacecraft commissioning has now begun to prepare the satellites to extend reliable mobile satellite services to customers globally as part of Globalstar’s existing network.

Rocket Lab founder and CEO, Sir Peter Beck, says: “Our satellite platforms are a powerful demonstration of Rocket Lab’s capabilities brought to life. From spacecraft platform design, build, testing, and on-orbit operations, we’re executing across the entire mission lifecycle and our approach is delivering the speed, reliability, and agility that competitive direct-to-device constellations like this one demand. With our scaled manufacturing, operational expertise, and vertically integrated satellite platforms that bring cost and schedule under control, we’re positioned to be the partner of choice for the constellation economy and proud to have supported this deployment for MDA Space and its customer Globalstar.”

The 500kg satellite platforms are a tailored version of the Company’s standard Lightning platform. Built and tested at Rocket Lab’s Headquarters in Long Beach, California, the satellite platforms feature the Company’s suite of in-house components and subsystems including solar arrays, reaction wheels, flight & ground software, parts of the suite of avionics, and Telemetry, Tracking and Command (TT&C) radios.

The Lightning platform is in production for multiple other high-profile missions, including a recently awarded space domain awareness program with the U.S. Space Force and the Space Development Agency’s Tranche 2 Transport Layer-Beta and Tranche 3 Tracking Layer constellations.

Rocket Lab Media
Matt McKinney
[email protected]

About Rocket Lab
Rocket Lab is a leading space company that provides launch services, spacecraft, payloads and satellite components serving commercial, government, and national security markets. Rocket Lab’s Electron rocket is the world’s most frequently launched orbital small rocket; its HASTE rocket provides hypersonic test launch capability for the U.S. government and allied nations; and its Neutron launch vehicle in development will unlock medium launch for constellation deployment, national security and exploration missions. Rocket Lab’s spacecraft and satellite components have enabled more than 1,700 missions spanning commercial, defense and national security missions including GPS, constellations, and exploration missions to the Moon, Mars, and Venus. Rocket Lab is a publicly listed company on the Nasdaq stock exchange (RKLB). Learn more at www.rocketlabcorp.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy, and statements regarding our satellite capabilities, manufacturing scale, and constellation support are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at https://investors.rocketlabcorp.com which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/17902b54-0174-466d-9466-fff7a79c5324

Rocket Lab Lightning Bus
Rocket Lab Satellite Platforms Built for MDA Space Successfully Reach Orbit, Supporting Globalstar D...

Rocket Lab (RKLB -1.32%), a developer of reusable orbital rockets and other spacecraft, posted its second-quarter earnings report on Aug. 10. Its revenue rose 62% year over year to $234 million, beating analysts' estimates by $3 million. It narrowed its net loss by five cents to $0.08 per share, matching the consensus forecast.

Image source: Getty Images.

What happened after that report? Rocket Lab's headline numbers looked solid, but its stock opened 5% lower the following day amid some concerns regarding its new higher-capacity rocket, the Neutron. In the past, the company said it could launch its first Neutron rocket by the end of 2026. But this time, CEO Peter Beck merely said it was targeting the Neutron's delivery to the launchpad by the fourth quarter, and that it was still "balancing the timing of our first launch" against its subsequent launches. Some investors likely interpreted that cautious statement as a warning that the first Neutron launch could slip to the beginning of 2027.

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Should investors be concerned? Rocket Lab's stock stabilized and rose again over the following days, so it doesn't seem like investors are too worried about a major delay. For now, it still has plenty of irons in the fire. It's already launched its smaller Electron rocket 92 times, and its planned takeover of Iridium (IRDM +0.26%) will significantly increase its exposure to the satellite services market. Its stock isn't cheap at 50 times this year's sales, but analysts still expect it to more than double its annual revenue from 2025 to 2028.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Rocket Lab. The Motley Fool has a disclosure policy.

Rocket Lab USA Inc. (NASDAQ:RKLB) isn’t just seeing strong demand for its next-generation Neutron rocket. The company believes that demand could give it more pricing power as the launch market remains constrained.

Rocket Lab brought Neutron to market with an average selling price of $50 million to $55 million, Chief Financial Officer Adam Spice said during the company’s second-quarter earnings call. The company also committed to avoiding significant discounts on early launches — and says it has stuck to that promise.

More importantly, management now sees room for prices to move higher.

"We feel very good, though, about where the market is from a supply versus demand perspective," Spice said. "I think right now the view is that we see more upside to ASPs than certainly to anything considered down or sideways."

Neutron Could Get More ExpensiveASP, or average selling price, is simply the average amount Rocket Lab expects to charge for a Neutron launch.

Spice said the company has deliberately left itself room to adjust pricing as demand strengthens.

"I think it’s left us room to move pricing as demand continues to firm up," he said. "And again, I think there’s probably more upside in that mix than downside."

That matters because Rocket Lab is entering a market where launch capacity is already difficult to secure.

CEO Peter Beck said that if customers want to book launches now — particularly launches after 2029 — their options are "extremely limited." Rocket Lab believes Neutron can help ease that bottleneck by adding another reliable medium-lift launch option.

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Demand Is Building Before Neutron FliesThe pricing opportunity is especially notable because Neutron has not yet completed its first flight.

Rocket Lab said production remains aligned with its target of delivering Neutron to the launch pad in the fourth quarter of 2026, although Beck acknowledged that the window for a year-end launch is narrowing. The company is prioritizing a vehicle that can move quickly from its first flight toward higher launch cadence.

At the same time, customers are already booking Neutron missions.

Rocket Lab recently secured a dedicated Neutron mission for the U.S. Space Force and a dedicated commercial launch for Kepler Communications. The company also said demand for Neutron’s early flights is strong.

That combination — limited launch capacity, early customer commitments and an unflown rocket with a stated $50 million-$55 million starting price — gives Rocket Lab an unusual opportunity to test how much customers are willing to pay for additional launch capacity.

The Bigger Opportunity Is Pricing PowerRocket Lab’s second-quarter revenue rose 62% year over year to a record $234 million, while its total backlog reached approximately $2.36 billion. Launch accounted for about 40% of that backlog, with Space Systems making up the remainder.

For investors, the important question isn’t simply whether Neutron launches successfully.

It is whether Rocket Lab can turn a supply-constrained launch market into higher-value contracts.

Management isn’t promising a specific price increase. But its message is clear: at least for now, Rocket Lab sees the balance of risk in Neutron pricing tilted upward rather than downward.

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Rocket Lab NASDAQ:RKLB delivered record revenue and backlog in the second quarter, yet its shares fell after earnings as investors focused on execution.

Revenue rose 62% to $234.1 million, while backlog jumped 137% to $2.36 billion. The company guided for third-quarter revenue of $250 million to $265 million, above Wall Street expectations.

Shares nevertheless fell as much as 7% in extended trading after management said the window for launching Neutron before year-end was narrowing.

Demand remains one of the strongest parts of Rocket Lab’s story.

Chief executive Peter Beck said the company had already entered into more than $1 billion of new launch and space-systems contracts in the third quarter.

Rocket Lab also ended Q2 with more than 90 launches in backlog, including US Space Force work.

Neutron is attracting customers before its first flight. Rocket Lab announced on Monday that Kepler Communications had booked a dedicated Neutron mission for no earlier than 2028.

Citizens analyst Trevor Walsh had argued before earnings that supplier checks showed healthy demand across the launch industry.

TipRanks reported that Walsh viewed Neutron as approaching a “key inflection point” and said successful execution could “raise the floor valuation” of Rocket Lab by removing a major uncertainty.

Rocket Lab still expects to deliver Neutron to its launch pad in the fourth quarter, but the maiden flight timetable has become less certain.

Beck said the “window for an end-of-year launch is narrowing.” CFO Adam Spice said the company would “hopefully” launch within the same period.

For investors, that distinction matters. Neutron is central to Rocket Lab’s attempt to move beyond the smaller Electron vehicle and compete for larger commercial, civil and national-security missions.

Walsh’s earlier thesis highlights the stakes. A successful first flight and consistent launch cadence could materially reduce execution risk. By the same logic, every delay keeps that risk alive.

Rocket Lab is prioritising reliability over hitting a calendar date, but the stock market is less forgiving when a company’s valuation already assumes years of rapid expansion.

Neutron timing was not the only reason for caution.

Rocket Lab remains unprofitable, posting a Q2 net loss of $49.3 million, or 8 cents a share. Free cash flow was negative $110.1 million, while its operating loss reached $57.5 million.

Third-quarter revenue guidance was strong, but management forecast GAAP gross margins of 29% to 31%, below the 37.6% analysts expected. Rocket Lab said a greater mix of lower-margin satellite platforms would weigh on profitability.

Analysts called the quarter solid and highlighted the stronger revenue outlook, but concluded that investors were likely “hoping for more”.

Rocket Lab is growing quickly and its backlog shows customers want what it is building, but investors still need is proof that those contracts can become reliable launches, stronger margins and eventually sustainable cash generation.

A Rocket Lab technician cleans a fuselage in Auckland, New Zealand, October 20, 2015. REUTERS/Nigel Marple/File Photo Purchase Licensing Rights, opens new tab

SummaryCompaniesQ3 gross margin seen at 29%-31% vs analysts' estimate of 37.6%Q2 revenue jumps 62% to record $234 million, beating estimatesRecord backlog reaches $2.36 billion at end of June, company ​saysAug 10 (Reuters) - Rocket Lab (RKLB.O), opens new tab ‌forecast third-quarter margins below Wall Street expectations on Monday, as rapid expansion into satellite manufacturing boosts sales but weighs on profitability.

As sales of lower-margin satellite platforms rise, they are expected to account for ​a larger share of the company's revenue as it expands its satellite-manufacturing ​business, a segment that is becoming increasingly important as it diversifies beyond ⁠rocket launches. Its shares fell more than 8% in extended trading.

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The company expects gross ​margin of 29% to 31% in the third quarter, below analysts' average estimate of ​37.6%, according to data compiled by LSEG.

Rocket Lab's space-systems division, which makes satellite components, spacecraft, separation systems, solar cells and other mission hardware, is its largest revenue contributor, accounting for 81% of revenue.

The ​unit helped drive a 62% jump in second-quarter revenue to a record $234 million, topping ​the estimate of $231.4 million.

The company is also pushing ahead with Neutron, its reusable medium-lift rocket designed ‌to ⁠compete for commercial satellite-constellation missions, civil-space programs and U.S. national-security launches. Rocket Lab is targeting Neutron's arrival at the launch pad in the fourth quarter of 2026.

It has continued spending heavily to develop the rocket, build launch infrastructure and prepare for production, while ​integrating recent acquisitions, including ​laser-communications company Mynaric.

CEO ⁠Peter Beck said demand for Neutron was being driven by limited launch capacity, prompting customers to book missions years in advance.

Rocket Lab ​won a contract from Kepler Communications to launch several communications ​and in-orbit ⁠computing satellites on Neutron in 2028.

The company forecast third-quarter revenue of $250 million to $265 million, above Wall Street estimate of $238.5 million.

It said it expects strong growth in both launch and space-systems ⁠businesses, supported ​by a record $2.36 billion backlog at the end ​of June.

Rocket Lab, in June, also announced plans to acquire satellite communications company Iridium in an $8 billion deal, which ​would give it a recurring-services business.

Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar

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This live blog is being updated by Thomas Richmond, a 24/7 Wall St. contributor. Simply stay on this page, and new updates will appear below automatically.

We expect Rocket Lab to release Q2 earnings shortly after 4:05 p.m. ET.

4 minutes ago

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Rocket Lab just reported earnings, with shares initially down 5% following the report. Here are the key numbers:

Revenue: $234.1 million vs. $230.9 million expected EPS: ($0.08) vs. ($0.08) expected Quick Read:

Revenue beat expectations by roughly 1%, while Rocket Lab’s loss per share came in line with estimates.
Revenue soared 62% year over year and 17% sequentially, although the modest headline beat failed to satisfy investors as shares fell 5%.

28 minutes ago

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Rocket Lab is down 3.6% today, and the intraday tape shows a 6.90-point range (roughly 8.5%) today, pointing to elevated implied volatility priced into tonight’s report.

Aggregated across the three nearest expirations, call volume of 140,747 outpaces put volume of 65,893, a 2.14x ratio, confirming a bullish tilt.

Structural positioning is even more one-sided. January 2027 shows 136,227 call open interest, with January 2028 close behind at 129,425. September 18 calls trade at a 3.03x ratio.

Translation: Dealers expect a large move, traders are leaning long into it, and IV crush post-report will punish premium buyers unless Rocket Lab clears management’s $225M-$240M revenue guide.

30 minutes ago

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With the earnings report due after the close, here are some of analysts top expected questions ahead of tonight’s call.

Top 5 Analyst Questions Is Neutron’s Q4 2026 debut still firm after the Archimedes qualification work? How does the $325M Geost deal contribute to Space Systems margins? What is the revenue ramp path from the $816M SDA Tranche 3 award? Timeline for Mynaric and Motiv integration synergies? When does adjusted EBITDA turn positive given $20M-$26M guided loss? Red Flags to Watch Any Neutron slip beyond 2026. Fresh ATM issuance after the $450M Q1 raise. Gross margin below the 38% floor. Operating cash flow worse than Q1’s -$50.3M. 57 minutes ago

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The Setup: Consensus vs. Guidance Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) rallied 27.53% in the past week to $80.44. Revenue above $240 million plus a firm Neutron timeline could reignite the run; any slippage risks a repeat of Q1’s +34.22% move in reverse.

Wall Street consensus lands at $230.94 million in revenue and an EPS loss of -0.0767, comfortably inside management’s guide. Beyond the headline, keep an eye on backlog expansion past the $2.20 billion Q1 mark and new Neutron contract signings.

Options desks are leaning bullish, with the Aug 14 call/put volume ratio at 2.01x and Aug 28 at 4.72x. Prediction markets price 67% odds of a beat, yet 93.5% odds the stock closes down today, a classic sell-the-news setup.

Technical Setup Into the Close Rocket Lab enters tonight’s report at $80.44, sitting below its 50-day SMA of 90.55 after a violent round-trip. Shares slid to $64.95 on July 31 before ripping 27.53% over the next week. RSI has recovered from a deeply oversold 29.95 on July 29 to 56.24, leaving room before overbought.

Key resistance sits at the post-Q1 high of $105.47, the all-time zone. Support anchors near $72-76. Options positioning skews bullish: the August 14 expiration shows a 2.01x call/put volume ratio, and January 2027 calls dominate at 6.37x. Strike-level IV was unavailable, but Polymarket assigns $88 a 69.5% probability for August, framing the expected upside band.

59 minutes ago

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Bull Case Record $2.2 billion backlog and selection alongside Raytheon for the Space-Based Interceptor program under Golden Dome anchor a multi-year defense tailwind. Q1 revenue jumped 63.5% YoY with non-GAAP gross margin at 43%, showing operating leverage. Neutron remains on “aggressive schedule towards the first launch later this year”, a potential major catalyst. Analyst consensus target sits at $111.31, with 14 Buy ratings. Bear Case Q1 net loss of $45 million continues, alongside a $450 million ATM raise that dilutes holders. Neutron slippage risk remains after a prior stage-1 tank test failure. Polymarket assigns 93.5% odds of RKLB closing down today, signaling sell-the-news risk. Insiders logged 86 recent transactions net skewed to selling. 1 hour ago

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Rocket Lab reports second-quarter earnings after the market closes today, with management guiding for revenue between $225 million and $240 million.

Investors will be listening closely for confirmation that Neutron remains on schedule for its highly anticipated late-2026 debut following last year’s stage-1 tank testing setback.

Margins will also be something management pays close attention to, as Rocket Lab delivered a 43.0% non-GAAP gross margin in Q1, while its Q2 outlook calls for that figure to moderate to between 38-40%.

With Rocket Lab valued at roughly $50 billion despite remaining unprofitable, tonight’s report must reinforce the pillars supporting its valuation: Neutron’s development remains on track, defense contract wins continue compounding, and Space Systems margins have room to expand.

Analysts have an average price target of $111.31, implying the stock has over 30% upside today.

Rocket Lab (NASDAQ:RKLB) reports Q2 FY2026 earnings today, August 10, at 4:05 PM ET, with management’s earnings call at 5:00 PM ET. Shares sit near $81 after climbing 15% in the past week.

Momentum Meets Execution Risk Last quarter set a high bar. Rocket Lab posted $200.3 million in revenue, up 63.5% YoY, and beat EPS estimates by 11.05% at -$0.07. Shares jumped 34.22% following the earnings report.

Since then, the story has broadened. RKLB captured a $266 million Space Force suborbital contract in July and a $397 million “Flatellites” award in early August. Backlog stood at $2.2 billion, up 108% YoY. Liquidity exceeds $2 billion, with $450.4 million raised via ATM in Q1 fueling M&A and Neutron scaling.

Consensus Estimates Metric Q2’26 Guide Midpoint YoY Change FY2025 Actual FY2026 Trajectory Revenue $232.5M ~+60% $601.8M Scaling on Neutron + acquisitions EPS (Est.) -$0.08 Improving -$0.37 Profitability targeted 2027 Non-GAAP Gross Margin 38%-40% +400-600 bps ~mid-30s Deceleration from Q1’s 43% The setup implies growth stays torrid, but margins cool as SDA Tranche 3 volume and Mynaric mix in. The company’s adjusted EBITDA loss is expected to widen to $20M-$26M from Q1’s $11.8 million.

What I’m Watching: Neutron, Margins, and the Defense Ramp Tonight, I’ll be watching four things in Rocket Lab’s earning. First, Neutron milestones. CEO Peter Beck flagged that “the continued placing of items on test stands” is the clearest signal of progress.

Second, margin mix. Non-GAAP gross margin beat guidance by 200 bps in Q1. Guidance calls for a step-down, but investors will be interested to see how much of this is driven by the SDA Tranche 3 dilution versus Mynaric’s lower initial margin profile?

Third, contract velocity. Q1 delivered 31 new Electron/HASTE contracts plus 5 Neutron missions. The $397M Flatellites win should show up in bookings.

Fourth, dilution. Beck stated “Of all of the things that I sit awake at night worrying about, Neutron demand is just not one of them.” Still, analysts will be interested to see future dilution expectations, with weighted shares outstanding currently at 629 million and SBC of $19M-$21M. Prediction markets assign a 67.5% probability to a Q2 beat.

Earnings History Quarter EPS Surprise Day-of Move 1-Week Move 30-Day Move Q1 2026 +11.05% +34.22% +18.3% -0.4% Q4 2025 +8.16% -4.89% +1.46% -7.06% Q3 2025 +71.29% -1.27% -16.51% +20% Q2 2025 -69.71% +1.09% -0.94% +3.31% On average, shares moved 5.4% seven days after earnings across recent quarters.

Contact [email protected] for any questions or corrections.

Shares of Rocket Lab (RKLB +9.46%) had a rough summer. At one point over the past month, the stock was down more than 30%. Even after a rebound, it's still down about 13% over that span.

That dip comes even as the business continues to grow at a healthy clip. First-quarter revenue jumped 63% year over year to a record $200 million, driven by stronger demand for launch services and space systems.

Image source: Getty Images.

Rocket Lab also posted a narrower-than-guided adjusted operating loss and completed its acquisition of Mynaric during the quarter, expanding its operational footprint in Europe.

So why the sell-off? One reason is cash burn. Free cash flow was negative $77 million, a wider loss than analysts expected. The bull case is that Rocket Lab's vertically integrated model will eventually translate into consistent profitability. It isn't there yet, but the longer-term direction for Rocket Lab still looks constructive.

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CEO Peter Beck called Rocket Lab "one of the only true end-to-end space companies on the planet." By controlling more of its supply chain, it can manage costs better than many competitors -- an advantage that should support healthier margins over time.

For long-term investors, the pullback looks like normal volatility. The core opportunity hasn't changed: Rocket Lab aims to take a larger slice of an expanding space economy that some Wall Street firms estimate could reach into the trillions over the next 20 years.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Rocket Lab. The Motley Fool has a disclosure policy.

Rocket Lab (NASDAQ: RKLB) stock got crushed in July's trading and fell 36.1% across the stretch, according to data from S&P Global Market Intelligence. Over the same period, the S&P 500 was roughly flat, while the Nasdaq Composite declined 3.2%.

While there was little in the way of truly negative, business-specific news for Rocket Lab last month, the company's share price was caught up in a broader valuation pullback for space stocks. In addition to investors generally reducing exposure to the space industry, macroeconomic and geopolitical risk factors created an unfavorable backdrop for growth-dependent tech stocks.

Image source: Getty Images.

July was a tough month for space stocks While valuation movements for major indexes were relatively modest last month, some categories of growth stocks saw dramatic pullbacks. Artificial intelligence hardware companies got most of the attention in headlines, but the space industry also suffered broad-based sell-offs.

Developments in June suggested that the Iran war could be winding down, but the conflict once again became more intense in July. The war has had a significant upward impact on oil prices, and investors reacted to the possibility that a protracted conflict would push inflation higher and cause the Federal Reserve to raise interest rates in response.

Trading trends for Space Exploration Technologies also appeared to continue having a negative impact on Rocket Lab and other space stocks last month. The company had its initial public offering (IPO) on June 12 and saw big valuation gains out of the gate, but it faced substantial bearish pressures in subsequent trading -- and pullbacks extended to the broader space industry. SpaceX stock fell roughly 36.6% in the month, closely mirroring Rocket Lab's valuation decline.

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Despite the big valuation slide in July, Rocket Lab reported news in the month that showed the company was continuing to land new contracts and expand its relationships with existing partners. The company announced that it had won a $266 million contract with the U.S. Space Force, an expanded launch contract with the U.S. Space Force, and a contract to provide three additional launches to iQPS.

Rocket Lab stock has been soaring in August's trading As of this writing, Rocket Lab's share price has risen 27.5% in August's trading. With the Nasdaq Composite up 5.2% across the stretch, the stock has benefited from a bullish backdrop at large -- but the company has also announced a significant new deal.

On Aug. 4, Rocket Lab published a press release stating that it had won a contract worth up to $397 million with the U.S. Space Force to provide technologies for a program using space-based technologies to detect and monitor airborne threats. The company will be developing, launching, and operating next-generation satellites that will provide low-latency, high-bandwidth data transmissions to the Space Force. The satellite launches are scheduled to use the company's Neutron rocket, and the performance of the new platform could have substantial implications for Rocket Lab stock.