Key insights
- Rocket Lab secured a contract with Anduril for three hypersonic test launches, boosting its backlog. The company's revenue grew 38% year-over-year, and the stock has surged 280% in the past year. However, the stock is currently considered overvalued. Upward earnings revisions suggest continued positive momentum, but valuation concerns may limit further upside.
LONG BEACH, Calif. - Rocket Lab Corporation (NASDAQ:RKLB) announced today it has been selected by Anduril Industries for three hypersonic test flights using its HASTE launch vehicle.
The multi-launch contract will see three HASTE hypersonic test launches conducted from Rocket Lab Launch Complex 2 in Virginia, according to a press release statement. Anduril will fund the missions through its internal capital. The first launch is scheduled within 12 months.
Each mission will serve as a testbed for hypersonic technology development. The launches are part of efforts to advance capabilities exceeding Mach 5 for defense applications.
Rocket Lab has maintained a 100% mission success rate for HASTE launches since the program began in 2023, according to the company. The HASTE vehicle is designed to provide hypersonic test launch capability.
"HASTE represents speed, affordability, and reliable hypersonic technology testing," said Peter Beck, Rocket Lab founder and CEO.
Gokul Subramanian, Anduril’s SVP of Engineering, said the collaboration aims to deliver scalable solutions for defense applications in the space domain.
The contract follows Rocket Lab’s previous agreement with the Test Resource Management Center for 20 HASTE launches over four years under the MACH-TB 2.0 program. The combined HASTE contracts represent nearly one-third of Rocket Lab’s backlog of over 70 launches.The company’s expanding contract portfolio has contributed to revenue growth of 38% over the last twelve months as of Q4 2025, reaching $602 million. The stock has surged 280% over the past year, bringing Rocket Lab’s market capitalization to $45.5 billion. According to InvestingPro analysis, the stock currently trades above its Fair Value, placing it among companies on the Most Overvalued list. Analysts anticipate continued sales growth in the current year, with three analysts recently revising their earnings estimates upward.
Rocket Lab provides launch services, spacecraft, and satellite components for commercial, government, and national security markets. The company’s Electron rocket serves the orbital small rocket market, while its Neutron launch vehicle remains in development.For deeper insights into Rocket Lab’s financial health and growth trajectory, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro for RKLB and over 1,400 US equities.
In other recent news, Rocket Lab Corporation announced its plans to acquire Motiv Space Systems, a company specializing in space robotics and motion control systems. This acquisition is expected to close in the second quarter of 2026, pending customary closing conditions. Additionally, Rocket Lab secured its largest launch contract to date, involving five Neutron and three Electron rocket missions, which boosts the company’s total launch manifest to over 70 missions valued at more than $2.2 billion. The launches are scheduled between 2026 and 2029, taking place from facilities in New Zealand and Virginia.
Rocket Lab was also selected alongside Raytheon for a demonstration project under the U.S. Space Force’s Space Based Interceptor program, focusing on next-generation missile defense capabilities. In analyst news, Stifel raised its price target for Rocket Lab shares to $105 from $90, maintaining a Buy rating. The firm highlighted Rocket Lab’s consistent revenue growth and its position as a leading pure-play space company. Stifel’s revised price target reflects confidence in the company’s expanding backlog and the anticipated debut of its Neutron rocket. These developments underscore Rocket Lab’s strategic initiatives and its growing role in the space industry.
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