Rocket Lab USA Inc.Completed full-duration Neutron engine test and successful Space Force mission, advancing reusable medium-lift rocket development.

Rocket Lab completed a full-duration second-stage engine test for its Neutron rocket and achieved full success on the U.S. Space Force's VICTUS HAZE mission, delivering launch, spacecraft, and rapid on-orbit rendezvous and proximity operations under a single Tactically Responsive Space contract. These milestones support the company's shift from a small-satellite launcher toward a vertically integrated space infrastructure and services provider, alongside the planned US$8.00 billion Iridium acquisition. The Neutron engine test is seen as the most relevant recent announcement, tying the investment case directly to Neutron's timeline, as a working reusable medium-lift rocket could reinforce Rocket Lab's role in defense and constellation launches. The company's narrative projects $1.7 billion revenue and $167.5 million earnings by 2029, with a fair value estimate of $103.91 per share, representing a 32% upside to its current price. However, the biggest near-term uncertainty remains Neutron's development path and first launch, with execution risk and capital needs still present.
Rocket Lab USA Inc.Completed full-duration Neutron engine test and successful Space Force mission, advancing reusable medium-lift rocket development.
Iridium Communications Inc