Rocket Lab
Second most active commercial launch provider. Electron for small payloads, Neutron medium-lift targeting Q4 2026. Space systems division generates more revenue than launch. Record 2025 revenue with multi-year backlog including a missile-warning satellite contract.
FINANCIAL HEALTH
CAPITAL & CREDIT PROFILE
Reported fundamentals from SEC XBRL companyfacts. Derived figures carry their formula in the caption.
Latest quarter (Q1 ended 2026-03-31, filed 2026-05-07): revenue $200.3M · net income −$45.0M · cash $1.21B — SEC XBRL.
DEBT TRANCHES (1)
| Tranche | Principal | Rate / spread | Maturity | SEC accession |
|---|---|---|---|---|
| 4.250% Convertible Senior Notes Due 2029 | $355.0M | 4.25% | 2029-02-01 | 0001819994-26-000028 |
| Total (unmatured) | $355.0M |
Total = sum of listed unmatured tranche principal. Extracted from SEC filings; tranche-level, not exhaustive. Rate / spread = interest_rate_bps ÷ 100 — fixed coupon or floating-rate spread, as extracted from the filing; floating-rate bank debt shows the spread over its reference rate, not all-in cost.
Tranche principal is face value from filings and may exceed the balance-sheet long-term-debt figure (XBRL concept coverage); reconciliation pending ingest extension.
Source: USAspending.gov award obligations matched to this company. Obligations, not recognized revenue.
SCHEDULE CREDIBILITY
How well this operator historically meets its own projected dates — launch NETs, company-announced roadmap milestones, and forward-dated facility plans. 100 = says what it does. Discount forward guidance accordingly.
| Source | Events | Late (share) | Median slip | Median slip, late only | Sub-score | On-time allowance |
|---|---|---|---|---|---|---|
| Launch NETs | 7 | 2 (28.6%) | 0 d | 53.5 d | 81.8 | 1 d |
| Roadmap milestones | 2 | 0 (0%) | 0 d | — | 100.0 | 30 d |
WORST SLIPS (RECEIPTS)
| Commitment | Source | Announced | Outcome | Slip |
|---|---|---|---|---|
| The Grain Goddess Provides (iQPS Launch 7) not yet flown; NET changed 6x | Launch NETs | 2026-06-30 | now NET 2026-08-31 | 62 d and counting |
| LOXSAT 1 not yet flown; NET changed 2x | Launch NETs | 2026-07-17 | now NET 2026-08-31 | 45 d and counting |
SCI = 100 × Σ(event credit) ÷ N over the trailing 36 months (2023-07-29 → 2026-07-28). Event credit = 1.0 when the commitment met its announced date (launches: net NET slip < 1 day; roadmap milestones & facility plans: within 30 days of the announced target window — month/year-precision targets count the whole period as on-time), else 30 ÷ (30 + days late beyond that allowance). Sources are pooled, so each source weighs by its event count. Sources: launch NET-change log (LL2 ingest, tracked since 2026-04-17; flown launches in coverage + not-yet-flown launches already slipped ≥1 day; cancelled launches excluded), roadmap registry milestones (company-announced targets, verified provenance only; open milestones past target count as late by days-overdue), facility_plans rows with target_date after announced_at (filing-dated rows excluded). Confidence: high ≥20 events, medium ≥8, low ≥5; no score below 5 events. 100 = says what it does.
Window: 2023-07-29 → 2026-07-28 (36 months) · launch NET log live since 2026-04-17
FLEET COMPOSITION
Every vehicle this operator has flown. Linked profiles carry the full reliability + reuse + subsystem record.
| Vehicle | Class | Launches | Success rate | Reuse | |
|---|---|---|---|---|---|
| Electron | Small | 90 | 95.1% | Expendable | Profile → |
| Satcat 2026 146 | — | 1 | 100.0% | — | |
| Satcat 2026 088 | — | 1 | 100.0% | — | |
| Satcat 2026 065 | — | 1 | 100.0% | — | |
| Haste | — | 1 | 100.0% | — |
SUBSYSTEM RELIABILITY
Aggregate subsystem outcomes across every vehicle this operator flies. Absence of a row means "not tracked yet" — never fabricated success.
RECENT LAUNCHES
| Date | Mission | Vehicle | Orbit | Outcome | |
|---|---|---|---|---|---|
| Dec 31, 2026 | StriX Launch 13 | Electron | SSO | Delayed | |
| Oct 31, 2026 | StriX Launch 12 | Electron | SSO | Delayed | |
| Aug 31, 2026 | The Grain Goddess Provides (iQPS Launch 7) | Electron | LEO | Delayed | Webcast ↗ |
| Aug 31, 2026 | LOXSAT 1 | Electron | LEO | Delayed | |
| Aug 31, 2026 | StriX Launch 11 | Electron | SSO | Delayed | |
| Aug 15, 2026 | Aspera | Electron | LEO | Delayed | |
| Jun 26, 2026 | Ten Owl Of Ten (StriX Launch 10) | Electron | LEO | Cancelled | Webcast ↗ |
| Jun 26, 2026 | OBJECT A | Satcat 2026 146 | LEO | Success | Source ↗ |
| Jun 19, 2026 | VICTUS HAZE Puma | Electron | LEO | Success | Source ↗ |
| Jun 11, 2026 | Curveball | Electron | — | Cancelled |
RECENT DEALS & CONTRACTS
| Date | Type | Amount | Counterparty | Significance |
|---|---|---|---|---|
| Jul 08, 2026 | Contract Award | — | — | High |
| Jun 29, 2026 | M And A | $8.00B | Rocket Lab, Iridium | Critical |
| Jun 29, 2026 | Contract Award | — | Rocket Lab, Iridium | High |
| Jun 25, 2026 | Contract Award | — | NASA, Rocket Lab | Medium |
| Jun 11, 2026 | Contract Award | — | Space Force, K2 Space, Rocket Lab | High |
SECTOR POSITION
RECENT COVERAGE
| Date | Source | Headline |
|---|---|---|
| Jul 27, 2026 | Space.com | Rocket Lab to start launching missile-defense missions from Alaska under $266 million Space Force deal |
| Jul 27, 2026 | SpaceNews | Rocket Lab to open Alaska launch site under $266 million Space Force deal |
| Jul 21, 2026 | Payload Space | FCC Eyes Wi-Fi and Bluetooth Bands for Satellites |
| Jul 20, 2026 | NASASpaceFlight | Making Progress: Relativity’s Terran R, Rocket Lab’s Neutron, and PLD Space’s Miura 5 |
| Jul 20, 2026 | Payload Space | DoD Adds $11.4B to NatSec Launch Contracts |
REGISTRY DATA
Source: space_company_registry.json · Operator homepage → · Rocket Lab corporate homepage (301 redirect from rocketlabusa.com) — operator confirmation for Electron, Neutron, and HASTE programs.
METHODOLOGY
Launch history and subsystem outcomes aggregate from AstraVeris's launch_events table with Wilson 95% lower bounds on success rates. ARI scores come from the 11-factor composite (/finance/methodology/). Constellation counts derive from the live CelesTrak/GCAT object catalog. Gov contracts from USAspending.gov awards; private deals from deduplicated pipeline deal extraction. Absence of a row means "not tracked" — we never fabricate. See /methodology/ for the full data model and /data-licensing/ for licensing terms.
Not investment advice. For insurance underwriting, verify against primary-source filings and operator investigation reports.