News about Planet Labs

Rocket Lab shares fell 6% to $51.97 in afternoon trading after the company said the first launch of its Neutron rocket would slip from the fourth quarter of 2026 into next year. Citizens cut its price target but kept an Outperform rating, saying the delay mainly affects how quickly Rocket Lab can earn revenue from later Neutron launches. Planet Labs fell 5% and SpaceX dropped 2%, while the Procure Space ETF was down 0.9%. Rocket Lab posted Q2 revenue of $234.1 million, up 62% year over year, and a record backlog of $2.36 billion. The timing of its positive free cash flow remains tied to Neutron's first successful test launch, so the delay could push that window further out.