Rocket Lab’s Q2 Wins: Record Revenue, Iridium Acquisition, and Neutron Drive
Rocket Lab reported a record Q2 revenue of $234 million (up 62% YoY), with over $1 billion of new contracts and a backlog of $2.36 billion, as it announced the strategic Iridium Communications acquisition to become a self‑launching, integrated space company. Neutron development is progressing well, supported by strong demand from government and commercial customers, including notable Space Force-related work. However, the quarter showed a GAAP loss due to amortization, margins are pressured by space-systems mix, and free cash flow is still negative with positivity not expected until 18–24 months after the first Neutron flight; Iridium’s close is targeted for mid‑2027 with integration benefits and potential tuck‑ins ahead.