Shares of Rocket Lab USA, Inc (NASDAQ: RKLB), an aerospace manufacturer and launch service provider, were up 50% in midday trading on Wednesday, after earnings beat Wall Street estimates.
Looking ahead to the fourth quarter, the company forecast revenue between $125 million to $135 million, coming in above its previous estimates of $121 million.
RKLB’s stock, which adds to its 165% rally so far this year, was up 28% on market closing.
Rocket Lab said its Electron rocket was the third most frequently launched rocket in the world this year, with the manufacturer coming in just after rival Elon Musk’s SpaceX and China.
On Wednesday, the company announced a new launch agreement for its medium-lift rocket with a confidential commercial satellite constellation operator, to launch two missions on the Neutron rocket in mid-2026.
The company also projects more than 10,000 satellites will need launch services by 2030, and estimates the total addressable market value will balloon to about $10 billion.
Neutron is tailored to deploy satellite constellations and national security missions in addition to serving customers, and is key to Rocket Lab’s strategy as an end-to-end space company preparing to deliver services from space in the future.
“Constellation companies and government satellite operators are desperate for a break in the launch monopoly,” said Rocket Lab founder and CEO Sir Peter Beck in a company statement. “They need a reliable rocket from a trusted provider, and one that’s reusable to keep launch costs down and make space more frequently accessible, and Neutron is strongly positioned to be that rocket that provides choice and value to the industry.”
The missions will launch from Rocket Lab Launch Complex 3 on Wallops Island, Virginia.
