Rocket Lab opened Launch Complex 3 for the Neutron rocket at the Virginia Spaceport on Aug. 28, 2025. Photo: Rocket Lab

Rocket Lab delivered another quarter of record revenue in the third quarter of 2025, but the space company had to push out the timeline for the first launch of its Neutron rocket to 2026. 

Rocket Lab said in a Monday statement that the first Neutron rocket will arrive at the launch pad in Wallops Island, Virginia, in the first quarter of 2026, “with the first launch thereafter, pending the successful completion of the vehicle’s qualification testing and acceptance program.”

Rocket Lab had been working toward a first Neutron launch in the second half of this year. The rocket was announced in development in early 2021 and initially expected to launch in 2024. 

CEO Peter Beck confirmed Rocket Lab is targeting to reach orbit with the first launch of Neutron, and explained that Rocket Lab is sticking to its “methodical and deep approach to qualification.” 

“Now with all the hardware in front of us now, and significant testing programs underway across all parts of the vehicle, we can see we need a little bit more time to retire the risks and stick to the Rocket Lab process,” Beck told investors. “As always, this is a rocket program, so that’s been completed at a pace and a cost that nobody has achieved before, and the financial and long-term impacts are insignificant to take a little bit more time to get it right.” 

“We don’t want to learn something during Neutron’s first flight that could be learned on the ground during the testing phase,” Beck added. 

Overall, Rocket Lab reported record revenue of $155 million in the third quarter. This quarter also marked Rocket Lab’s highest gross margins, Q3 GAAP gross margins at 37%. 

Revenue increased 48% year-on-year, driven by an increase in launches from three to four during the quarter, as well as growth in both the satellite manufacturing and satellite component businesses.