News about Rocket Lab

Rocket Lab (RKLB) shares plunged after the company said the Neutron rocket’s launch would slip to next year, one of several delays, and the stock is down close to 40% over six months. The article notes investors may shift toward Space Exploration Technologies Corp, which went public over the summer. Revenue for the quarter ended June 30 rose 62% year over year to $234 million, backlog grew 137% to just under $2.4 billion, and the company is acquiring Iridium Communications. Neutron, which can handle larger payloads than Electron, is seen as key to future profitability. The author argues the delay alone doesn’t justify selling, though the company is not yet profitable and that could take a long time to change.

Rocket Lab received an order from Japanese customer Synspective for 20 more Electron launches, announced September 30, bringing Synspective's total to 47 launches and making it Rocket Lab's largest customer. The company calls this its largest-ever Electron deal, excluding the 20 HASTE launches. Rocket Lab did not disclose pricing, but at its most recently advertised price of $8.4 million per launch, the 20 launches would generate about $168 million between 2028 and 2031. The deal pushes the company's backlog beyond 100 missions, or more than $840 million in future revenue. The article notes that Neutron's first launch has been postponed to 2027, and argues Rocket Lab could turn profitable in 2027 thanks to the pending Iridium purchase, with or without Neutron.