Rocket Lab's 16th Electron mission launch of 2026 sends shares higher

Rocket Lab (RKLB) reported Q2 2026 revenue of $234.07M, up 62%, with a $2.36B backlog. AST SpaceMobile (ASTS) missed estimates, posting $31.52M revenue and a $0.77 GAAP loss, including a $126M charge. RKLB's Iridium acquisition adds $870M in annual revenue, while ASTS focuses on direct-to-phone broadband. Both stocks are down ~20% over the past month.

Rocket Lab (RKLB) shares have dropped 56% from their 52-week high, despite a 50% gain over 12 months. The company reported record revenue of $234M in Q2 2026, up 62% YoY, but faces delays in its Neutron rocket launch and negative cash flow. Management expects positive cash flow 18–24 months post-Neutron launch. The stock's high valuation is driven by future expectations, making it sensitive to interest rate and valuation shifts.

Rocket Lab (RKLB) shares rose 3% in after-hours trading after NASA awarded the company two new missions to study the Sun and Earth. The missions, PolSIR and TSIS-2, are part of a broader NASA contract valued up to $300 million. PolSIR will study ice clouds, while TSIS-2 will measure sunlight reaching Earth. Both missions are scheduled for 2027. Analysts have an average price target of $106.92 for RKLB, indicating a 33% potential upside from Thursday's close.

The U.S. Space Force added Blue Origin, Boeing, and Umbra as vendors for its space-based air moving target indicator (SB-AMTI) program, with contracts signed June 2. Boeing received $6,666, while Blue Origin and Umbra each received $10,000. The program now includes 12 vendors, with SpaceX securing a $4.16 billion contract earlier. Recent task orders totaling $615 million were awarded to Rocket Lab, STR, and Wildstar. The Space Force aims to demonstrate SB-AMTI capability within two years.

Rocket Lab (RKLB) reported record Q2 2026 revenue of $234M, with Space Systems and Launch Services segments contributing $189.5M and $44.6M, respectively. Non-GAAP gross margin was 41.5%. The company projects Q3 revenue of $250M-$265M. Analysts maintain a 'Hold' rating, citing valuation concerns and short-term challenges, despite a 'Strong Buy' consensus and 69% upside target.

SpaceX (SPCX) fell 5% to $146.35 as $47.2B in insider shares became eligible for sale, per its IPO prospectus. AST SpaceMobile (ASTS) dropped 4% and Rocket Lab (RKLB) slipped 3% in sympathy. The Procure Space ETF (UFO) declined 3%, while the S&P 500 (SPY) fell 0.5%. Elon Musk's stake remains locked for about a year.