Iridium Communications Inc
IRDM · Communication Services
$46.72
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Peter Beck's Neutron Rocket Could Slip to 2027. Here's How Much the Delay Actually Matters.
Rocket Lab's Neutron rocket, first announced in 2020, may not launch until 2027, causing investor concern. However, the delay's financial impact is minimal—only $50 million in lost revenue in the first year. The company still expects to achieve profitability in 2027 through its planned Iridium merger and commercial launch operations.
1 Monster Space Stock I'm Watching This Upcoming Earnings Season
Rocket Lab, a developer of reusable orbital rockets and satellite components, has surged from $11.58 at its 2021 SPAC debut to around $64. The company generates 70%+ revenue from space systems and is acquiring Iridium for $8 billion. Analysts project 43% revenue CAGR through 2028, with positive EBITDA expected by 2027. Despite a 27x forward sales valuation, the stock offers a smaller alternative to SpaceX in the growing space sector.
Rocket Lab Trades at 59 Times Revenue With Neutron Still Unflown
Rocket Lab trades at a premium 59x revenue valuation based on $45 billion market cap against $769 million trailing revenue. While the company reports record quarterly revenue, backlog, and major contracts, it remains unprofitable with significant losses. The valuation heavily depends on the Neutron rocket, which has never flown and may slip from its Q4 2026 target into 2027. The analyst suggests waiting to see Neutron successfully launch before considering the stock reasonably valued.
Rocket Lab Wins One of Its Biggest Contracts Ever
Rocket Lab secured a $397 million contract from the U.S. Space Force to develop, launch, and operate stackable 'Flatellites' for a missile-tracking satellite program. This represents one of the company's largest wins and is worth more than six months of its annual revenue. The contract demonstrates Rocket Lab's evolution into a vertically integrated defense contractor capable of handling all aspects of satellite missions independently.