Rocket Lab Wins $397 Million Space Force Contract, but Neutron Delay Casts Shadow

3-line summary

• Rocket Lab was awarded a $397 million US Space Force contract under the SB-AMTI program to develop and operate Flatellite satellites, announced August 4, according to a report.
• The contract depends on Rocket Lab's Neutron rocket, whose first flight has been delayed to the fourth quarter of 2026 after a Stage 1 tank failure linked to a third-party manufacturing defect, according to the report.
• Rocket Lab reported first-quarter fiscal 2026 revenue of $200.3 million, up 63.4% year over year and above its own guidance range, according to the report.

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