Rocket Lab delivered an extraordinary finish to 2025, with its share price climbing 65.5% over the month of December, far outpacing the roughly flat performance of the S&P 500 and a 0.5% decline in the Nasdaq Composite. This surge was fueled in part by broader enthusiasm for space-technology stocks following news of a potential SpaceX IPO in late 2026, which lifted valuations across the sector and attracted fresh investor capital into Rocket Lab’s stock.

On December 18, Rocket Lab successfully completed the STP-S30 launch for the U.S. Space Force and simultaneously announced an award worth at least $806 million, with expansion options valued at $10.5 million and additional add-on services that could lift the total deal value to about $1 billion. This contract represents Rocket Lab’s largest single award to date and secures a significant backlog of high-margin launch work through the remainder of the decade.

In December, Rocket Lab also captured a multiyear funding agreement from the Canadian Space Agency to bolster domestic space capabilities, and wrapped up its first mission for Japan’s JAXA under the Innovative Satellite Technology Demonstration Program. Together with 21 launches completed in 2025 for clients ranging from BlackSky and Synspective to the U.S. Space Development Agency, these wins underscore Rocket Lab’s expanding global footprint and its leadership in small-satellite launch services.

Following the Space Force award, both Stifel and Needham maintained buy ratings on Rocket Lab and raised their one-year price targets (to $85 and $90 respectively). The stock has continued to gain in early 2026, up more than 20% in January as investors anticipate further Federal Reserve rate cuts and build conviction in Rocket Lab’s near-term revenue visibility. With over $1 billion in liquidity, a record 49 launches contracted, and work underway to qualify the reusable Neutron vehicle, the company appears well positioned for sustained growth this year.