Rocket Lab Q2 2026 slides: record revenue, Iridium deal, shares fall

Rocket Lab USA reported record revenue of $234 million for Q2 2026 and announced its acquisition of Iridium Communications, despite a significant drop in shares following the earnings release. The stock closed at $74.60, down 6.8% after-hours, following an adjusted loss of $0.08 per share that exceeded expectations. Despite record revenue, the adjusted loss of $0.08 per share fell short of the anticipated $0.06.

The acquisition of Iridium Communications signifies a major expansion for Rocket Lab, positioning it as a fully-integrated, self-launching, tier-1 space power. The transaction provides comprehensive capabilities in launch services, spacecraft manufacturing, and space applications, enabling the company to enter untapped markets and pioneer new services in various sectors such as PNT, IoT, defense, aviation, marine, direct-to-device communications, and mission services.

The Iridium deal is expected to enhance spectrum utilization, streamline on-orbit infrastructure deployment, and expand into enhanced service offerings. Rocket Lab also secured a $397 million contract with the U.S. Space Force to build and launch Flatellite spacecraft for the Space-Based Airborne Moving Target Indicator (SB-AMTI) program, as well as a $160 million contract for building multiple geostationary satellites for Space Force Space Domain Awareness missions.

These contracts highlight Rocket Lab's strategic vertical integration model and growing demand for its spacecraft and launch services.