Rocket Lab sees profitability pressure as sales of lower-margin satellite platforms rise

The company is also pushing ahead with Neutron, its reusable medium-lift rocket designed to compete for commercial satellite-constellation missions, civil-space programs and U.S. national-security launches. Rocket Lab is targeting Neutron's arrival at the launch pad in the fourth quarter of 2026.

It has continued spending heavily to develop the rocket, build launch infrastructure and prepare for production, while integrating recent acquisitions, including laser-communications company Mynaric.

CEO Peter Beck said demand for Neutron was being driven by limited launch capacity, prompting customers to book missions years in advance.

Rocket Lab won a contract from Kepler Communications to launch several communications and in-orbit computing satellites on Neutron in 2028.

Rocket Lab, in June, also announced plans to acquire satellite communications company Iridium in an $8 billion deal, which would give it a recurring-services business.