Rocket Lab wins $266 million US Space Force launch and spacecraft contract

The Daily Upside reported that Rocket Lab won the largest launch contract in its history, a $266 million pact with the US Space Force for launch services and spacecraft for missile defense missions. Shares rose 4.7% on the announcement, while SpaceX fell 1.3%, the outlet said. Rocket Lab designs, builds, and operates its own space systems and is widely framed as a close competitor to SpaceX in rockets and launch. The company is also acquiring mobile satellite firm Iridium Communications, which The Daily Upside said could put it in more direct competition with SpaceX's Starlink service. Most launches under the new contract will take place at the Pacific Spaceport Complex on Alaska's Kodiak Island, Rocket Lab said. In the three months ending in March, the company reached $200 million in quarterly revenue for the first time, up 64% year over year, with a $45 million loss improved from a $60 million loss a year earlier. The outlet put Rocket Lab's market capitalization near $40 billion versus about $1.5 trillion for SpaceX.