Neutron
First launch targeted for Q4 2026, after a January 2026 tank rupture pushed the schedule back.
What it is
Neutron is a reusable medium-lift rocket designed to carry larger payloads than Electron. It is powered by the Archimedes engine. It is the largest development program at the company and has no revenue yet.
Why it matters to the stock. Neutron is the next big step beyond small launch, and a successful first flight would make Rocket Lab a competitor in medium-lift launch. Delays matter because they push back the revenue the company expects from larger missions and from the Neutron-linked share of its backlog.
News
Rocket Lab says the window for a 2026 Neutron debut is narrowing
In its filing ahead of the Q2 2026 earnings call, Rocket Lab said the window for an end-of-year Neutron launch is narrowing and that the debut could slip into 2027.
Rocket Lab introduces GHOST launch system, first site in Kodiak, Alaska
Rocket Lab introduced GHOST, a globally deployable launch system, with its first site at Launch Complex 4 at the Pacific Spaceport Complex in Kodiak, Alaska.
Rocket Lab discloses $816M Space Development Agency satellite contract
Rocket Lab listed an $816 million prime contract from the Space Development Agency among its fourth-quarter 2025 highlights.
Neutron Stage 1 tank ruptures during hydrostatic pressure test
Rocket Lab disclosed that qualification testing of the Neutron rocket's Stage 1 tank ended in a rupture during a hydrostatic pressure trial.