Rocket Lab reports record quarter amid Iridium takeover bid
Rocket Lab, led by Sir Peter Beck, posted record revenue and order backlog for the second quarter, though the company remained loss-making. The results landed alongside the space company's takeover bid for satellite communications giant Iridium. The figures point to continued rapid growth even as profitability remains elusive.
Rocket Lab posted record revenue and order backlog in its second-quarter results. Founder and CEO Sir Peter Beck said the growth was driven by strong demand across the company's space launch and satellite component businesses.
Despite the strong headline numbers, the company remained loss-making for the quarter. Investors continue to watch closely for signs of when Rocket Lab might reach profitability.
The results coincided with the company's takeover bid for satellite communications giant Iridium. Analysts say a successful deal would significantly strengthen Rocket Lab's position in the satellite communications market.
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