Rocket Lab Lands New Contract, Builds Momentum Ahead of Earnings

Key Points

• Rocket Lab announced that it was selected for a major Department of Defense hypersonic test flight under the $1.45 billion MACH-TB 2.0 program.
• The company is gaining momentum in the global defense sector with new inclusion in major U.S. and U.K. hypersonic development initiatives.
• All eyes are on Rocket Lab’s Q1 earnings and Neutron rocket progress, scheduled for May 8.

Rocket Lab USA NASDAQ: RKLB, founded in 2006, is a leading end-to-end space company delivering reliable launch services, satellite manufacturing, spacecraft components, and on-orbit management solutions.

As a rising competitor to SpaceX, Rocket Lab has been making headlines with a steady stream of positive developments, the latest of which adds to growing investor enthusiasm ahead of its next earnings release.

Rocket Lab Selected for New DoD Hypersonic Test Launch

On Apr. 23, Rocket Lab announced it had been selected to launch a full-scale hypersonic test flight for the Department of Defense under the MACH-TB 2.0 program. Using its HASTE rocket, the mission will fly no earlier than Q1 2026 from Rocket Lab’s Launch Complex 2 in Virginia.

This marks the first full-scale flight test awarded by Kratos under the $1.45 billion MACH-TB 2.0 initiative, designed to scale up the testing of next-generation hypersonic technologies rapidly. Rocket Lab joined the Kratos-led MACH-TB 2.0 team earlier this year, following a series of successful MACH-TB launches in 2023, three in total, including two within 21 days.

The HASTE rocket, a suborbital variant of Rocket Lab’s Electron, is uniquely equipped for hypersonic testing. It carries over much of Electron’s advanced design, including carbon fiber structures and 3D printed engines.

Still, it features a modified upper stage and a larger payload capacity of up to 700 kg (1,540 lbs). HASTE can deploy payloads at speeds exceeding 7.5 km/s, enabling advanced air-breathing, glide, and reentry testing.

CEO Peter Beck noted the mission highlights HASTE’s rapid emergence as a leading commercial test platform, stating, “With our operational speed and cadence, and the ability to serve multiple mission profiles in one platform, HASTE is helping move the needle on hypersonic innovation.”

This latest award joins a growing 2025–2026 launch manifest for HASTE, which includes a mission for the Defense Innovation Unit, a multi-launch deal with Leidos, and a test flight for a confidential customer.

Expanding Global Defense Opportunities

Rocket Lab’s momentum isn’t limited to MACH-TB. The company has also been added to two major defense initiatives that could open doors to substantial long-term contracts.

In the U.S., Rocket Lab was recently included in the Air Force’s $46 billion Enterprise-Wide Agile Acquisition Contract (EWAAC), which is set to run through 2031. This contract enables Rocket Lab to compete for various launch and engineering service awards as the Air Force accelerates its technological edge.

In the U.K., Rocket Lab was selected as an approved provider under the Ministry of Defence’s £1 billion (approximately $1.25 billion USD) Hypersonic Technologies & Capability Development Framework (HTCDF). As part of this initiative, the company can now bid to support the development of the U.K.'s growing hypersonic capabilities.

These inclusions significantly enhance Rocket Lab’s visibility and access within the defense sector, aligning with broader strategic goals to deepen government partnerships and scale operations internationally.

Earnings Will Be the Next Big Catalyst

While the stream of good news is helping to build optimism, all eyes will be on Rocket Lab’s upcoming Q1 2025 earnings, scheduled for May 8. As an unprofitable, high-growth space company, sentiment can shift quickly depending on forward guidance and key project updates.

One of the biggest investor focal points will be Neutron, Rocket Lab’s upcoming medium-lift launch vehicle. Designed to compete directly with SpaceX’s Falcon 9, Neutron represents a potential breakthrough moment for Rocket Lab. 

Investors will be hoping for clarity on testing progress and a more defined timeline for its inaugural flight. Any updates could have a meaningful impact on the stock, given the strategic and commercial implications of the rocket's successful debut.

Additional financial insights, including margin trends, backlog growth, and R&D spend, will also help shape expectations for the rest of 2025. However, Neutron’s trajectory remains the key wildcard for shares in the near term.