Overview
- Rocket Lab entered 2026 with about $1.85 billion in contracted work and says roughly 37% should turn into revenue within 12 months.
- After a Stage 1 tank ruptured in January 2026, the company now targets the first Neutron launch in the fourth quarter of 2026.
- Defense demand is growing, including an $816 million Space Development Agency Tracking Layer award and more hypersonic HASTE test flights planned for 2026.
- Supplier constraints, especially a shortage of laser optical terminals for satellites, are slowing some program milestones, and the planned Mynaric acquisition remains under European review.
- Rocket Lab reports about $1.1 billion in cash and marketable securities, yet spending remains high as it funds Neutron testing, new launch pads, and recovery hardware.