Rocket Lab (NASDAQ:RKLB) stock declined 9.36% during the pre-market trading session on Tuesday, as the company pushed back the timeline for its first Neutron rocket flight. At the same time, the company’s per-share loss of 8 cents was slightly wider than the expected 7 cents.
Rocket Lab is now targeting a launch pad arrival in the fourth quarter instead of a launch, with first-stage tank production on track to support delivery. On Monday, CFO Adam Spice said the company "hopefully" expects the first launch within the same timeframe, though no specific date was announced.
Notably, Neutron, a rival to Space Exploration Technologies Corp‘s (NASDAQ:SPCX) Falcon 9, is crucial to Rocket Lab’s plans to compete for commercial satellite, civil-space and U.S. national-security contracts, as well as support its own satellite ambitions.
The company has heavily invested in developing Neutron, expanding launch infrastructure and preparing for production, while securing early customers such as Kepler Communications for planned 2028 satellite launches.
Rocket Lab Posts Strong Q2 Growth
On Monday, Rocket Lab reported Q2 revenue of $234.07 million, up 62% year over year and ahead of the $231.35 million estimate.
The company signed $437 million in new launch contracts, pushing its record backlog to $2.36 billion, while cash and equivalents stood at about $2.13 billion.
For Q3, Rocket Lab expects $250 million-$265 million in revenue, well above the $238.53 million consensus estimate, with an adjusted EBITDA loss of $17 million-$23 million.
RKLB Price Action: On a year-to-date basis, RKLB climbed 5.33%, as per Benzinga Pro. On Monday, it fell 3.37% to close at $80.04.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors
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