Rocket Lab Gains Steam With New Launch Orders And High-Profile Backing

Overview

• Jim Cramer endorsed Rocket Lab as a speculative buy, pointing to a roughly $1.85 billion backlog that he said gives the company clear revenue visibility.
• Cantor Fitzgerald kept a Buy rating and highlighted a fresh multi-launch deal with iQPS that adds three Electron missions starting in 2028, lifting the customer’s total to 15.
• Rocket Lab reported record 2025 revenue of $602 million, a 38% jump, with its backlog rising about 73% to nearly $1.9 billion.
• The company flew 21 successful missions last year and secured an $816 million Space Development Agency contract as repeat customers and government work expanded.
• Shares have climbed about 250% over the past year even as Rocket Lab posted nearly $200 million in losses and trades at rich multiples, leaving execution on the upcoming Neutron rocket crucial to converting the backlog into cash.