Rocket Lab reported record second-quarter revenue of $234 million, up 62% year over year, while SpaceX's space revenue rose 29% to $962 million in its most recent quarter. Rocket Lab's backlog reached a record of nearly $2.4 billion, and its upcoming Neutron rocket could launch later this year, potentially driving further growth. With a market cap of around $50 billion versus roughly $1.9 trillion for SpaceX, Rocket Lab faces less pressure to justify its valuation. Both companies are unprofitable, but Rocket Lab may be a slightly less risky option for pure-play space investors.
