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.↗ source
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.