Rocket Lab Just Won $663 Million in Space Force Contracts. Only the Bigger One Waits for a Rocket That Has Never Flown.
Nearly three quarters' worth of new business landed in eight days. But the two contracts run on different clocks.
Overview
Rocket Lab (NASDAQ: RKLB) has had quite a stretch of contract news. On Tuesday, the space company announced a $397 million award from the U.S. Space Force to build, launch, and operate a constellation of its flat-panel Flatellite satellites for the Space-Based Airborne Moving Target Indicator (SB-AMTI) program, a system meant to track airborne threats in real time from orbit.
Shares rose about 6% on the day, though the announcement landed after the closing bell. And the award came just eight days after another one. On July 27, Rocket Lab announced a $266 million contract with the Space Force's Rocket Systems Launch Program for suborbital launches, the largest launch contract in the company's history.
Details
Together, the two awards total $663 million. For a company that guided for second-quarter revenue of $225 million to $240 million, that's nearly three quarters' worth of work landing in about a week.
Source
Originally published at www.fool.com.