Rocket Lab pushed the first launch of its Neutron rocket into 2027, sending shares down 6.6% to $55.25 after they had fallen as much as 16% early in the session. CEO Peter Beck cited voids in the carbon-composite forward propellant dome, with replacement and testing running through Q1 2027. Meanwhile, second-quarter revenue reached $234.07 million, up 62%, and backlog rose 137% to $2.36 billion, driven by an $816 million Space Development Agency award. Clear Street cut its target to $105 from $129 and TD Cowen cut to $90 from $120, saying the slip pushes growth and profitability out. Free cash flow was -$321.8 million in 2025, and the company raised $1.53 billion through stock sales in the first half of 2026.
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