Rocket Lab USA has captured the single largest contract in its corporate history, a monumental $816 million award from the U.S. Space Development Agency for missile defense satellites. This landmark deal underscores the aerospace firm’s strategic pivot, yet its shares have recently exhibited significant turbulence, shedding approximately 15% of their value over the past week despite the milestone announcement.
Financial Results and Future Roadmap
Investor attention is now turning to the company’s upcoming financial disclosure. Rocket Lab is scheduled to release its fourth quarter and full-year 2025 results on February 26. Market participants are keen to see early financial impacts from the company’s expansion into satellite manufacturing and to assess management’s guidance for the coming years.
A Strategic Pivot Toward Integrated Systems
The contract with the Space Development Agency involves the development and production of 18 satellites for a missile tracking constellation, with work extending through 2029. This agreement is projected to contribute roughly $200 million in additional annual revenue.
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This award represents a fundamental shift in Rocket Lab’s business model. The company is now positioning itself as a prime contractor within the defense sector, a substantially broader role compared to its earlier focus, which was almost entirely centered on launch services. Management has deliberately bolstered its satellite capabilities, a move exemplified by the recent acquisition of laser communications specialist Mynaric.
Operational Momentum Contrasts with Share Price Action
Operationally, Rocket Lab continues to demonstrate strength. The company completed its 80th Electron launch in January 2026, maintaining its position as the world’s third-most frequent launch provider and ranking second only to SpaceX within the United States. Its launch cadence has shown consistent growth, escalating from 6 missions in 2021 to 21 in 2025.
Concurrently, development of the larger Neutron rocket continues, with a maiden flight targeted for the second quarter of 2026. With a payload capacity of up to 13,000 kilograms, the Neutron platform is designed to provide Rocket Lab with access to more lucrative, heavy-lift contracts for large satellite constellations.
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