Rocket Lab USA, Inc. (RKLB) shares are experiencing a significant surge in pre-market trading on Friday, driven by positive news surrounding the company’s ongoing space exploration endeavors and strong financial performance. The stock has seen a remarkable 19% gain over the past six months, attracting attention from investors seeking exposure to the burgeoning space industry. Investors can gain exposure to Rocket Lab through the Procure Space ETF (UFO) and SPDR S&P Kensho Final Frontiers ETF (ROKT).
The driving force behind the current surge is the successful packing and shipment of two Mars-bound spacecraft destined for Cape Canaveral, Florida. These twin spacecraft, part of the Escape and Plasma Acceleration and Dynamics Explorers (ESCAPADE) heliophysics mission, are designed to investigate the Martian atmosphere and its interaction with the solar wind. Rocket Lab played a crucial role in the mission, taking on the responsibility of design, construction, integration, and testing.
“We’ve already been to the Moon for NASA, so we’re excited to build on that and send Rocket Lab technology deeper into the solar system, this time to the Red Planet,” said Rocket Lab founder and CEO Peter Beck, highlighting the company’s growing involvement in ambitious space exploration projects.
This positive news follows a strong performance in the second quarter, where Rocket Lab reported revenue of $106.25 million, surpassing analyst expectations of $105.46 million. This figure marks the company’s highest revenue quarter in its history, indicating a robust demand for its launch services and space systems.
“This year’s second quarter was Rocket Lab’s highest revenue quarter in company history at $106 million. This 71% year-on-year revenue increase demonstrates the strong and growing demand for our launch services and space systems products, and importantly, our team’s ability to execute against it,” Beck commented earlier.
Looking ahead, Rocket Lab anticipates a strong third quarter, with projected revenue ranging from $100 million to $105 million. The company expects Space Systems revenue to fall between $79 million and $84 million, while Launch Services revenue is projected to be approximately $21 million. Despite the strong performance, the company anticipates an adjusted EBITDA loss of $31 million to $33 million in the third quarter.
The positive news surrounding the Mars mission and robust financial performance has propelled RKLB shares upward by 2.92% in pre-market trading, reaching $6.00 at last check. This surge underscores the confidence investors have in Rocket Lab’s ability to capitalize on the burgeoning space industry and contribute to groundbreaking space exploration initiatives.
