Rocket Lab Delays Neutron Rocket Debut to Mid-2026

Rocket Lab's Neutron Rocket Debut Slips to Mid-2026 During a third-quarter earnings call on Monday, Rocket Lab chief executive Peter Beck announced that the company's medium-lift launch vehicle, Neutron, would not launch this year, slipping into mid-2026. The delay, while not unexpected, marks a significant setback for the company's ambitious plans to establish itself as a major player in the burgeoning launch services market. According to Rocket Lab's latest financials, the company reported a net loss of $134 million in the third quarter of 2025, compared to a net loss of $123 million in the same period last year. Despite the loss, Rocket Lab's revenue grew 15% year-over-year to $143 million, driven by an increase in launch services and satellite manufacturing sales. The company's cash balance stood at $1.3 billion as of September 30, 2025, providing a comfortable cushion to fund its ongoing development and launch activities. The delay in Neutron's debut is a significant blow to Rocket Lab's plans to expand its launch services offerings and increase its market share. The company had been positioning Neutron as a key differentiator in the market, with its reusable first stage and advanced propulsion system. However, the delay will give competitors such as SpaceX and Blue Origin more time to solidify their positions in the market. Rocket Lab's decision to delay Neutron's debut is a testament to the company's commitment to quality and safety. In a statement, Beck said, "We've seen what happens when others rush to the pad with an unproven product, and we just refused to do that." The company's focus on quality and safety is reflected in its financials, with a significant increase in research and development expenses to $93 million in the third quarter, up from $73 million in the same period last year. The launch services market is expected to continue its rapid growth, driven by an increase in satellite launches and the emergence of new players. According to a report by Morgan Stanley, the global launch services market is expected to reach $10 billion by 2028, up from $4 billion in 2020. Rocket Lab's delay in Neutron's debut may impact its ability to capitalize on this growth, but the company remains well-positioned to compete in the market. In the near term, Rocket Lab's focus will be on completing the development of Neutron and preparing it for its maiden launch in mid-2026. The company has a busy launch schedule ahead, with several launches planned for its existing Electron rocket. While the delay in Neutron's debut is a setback, it is unlikely to impact Rocket Lab's long-term prospects, given its strong financial position and commitment to quality and safety.