What Happened
Iridium Acquisition May Bring Earnings Boost To Struggling Rocket Lab
Rocket Lab has delayed the first flight of its Neutron rocket to 2027 due to manufacturing defects in a carbon-composite tank component. The news sent retail sentiment around the company to an all-time low. However, the upcoming acquisition of Iridium Communications may bring a much-needed earnings boost, with the deal expected to more than double Rocket Lab’s annual revenue. Iridium’s profitable business and growing subscriber base could provide a bright spot for Rocket Lab’s financials, according to Yahoo Finance.