LONG BEACH, Calif. - Rocket Lab USA, Inc. (NASDAQ: RKLB), known for its launch services and space systems, has announced its plan to execute two consecutive Electron rocket launches to deploy NASA's Polar Radiant Energy in the Far-InfraRed Experiment (PREFIRE) mission. These launches will take place from Rocket Lab Launch Complex 1 in Mahia, New Zealand, with the first mission, "Ready, Aim, PREFIRE," scheduled for no earlier than May 22, 2024. The subsequent mission, "PREFIRE And Ice," is slated to occur within three weeks following the successful deployment of the first satellite.
The PREFIRE mission aims to measure the infrared and far-infrared wavelengths of heat emitted from Earth's polar regions, a critical factor influencing weather outcomes like extreme storms and coastal erosion. The mission consists of two 6U CubeSats, each to be placed in a 525km circular Earth orbit, with a baseline mission duration of 10 months. This data is expected to refine climate models and enhance predictions related to global warming.
Rocket Lab's CEO, Peter Beck, emphasized the importance of precise satellite deployment for the success of climate change missions like PREFIRE. He highlighted Electron's track record in delivering dedicated small satellite missions to specific orbits, reinforcing the company's capability in aiding the achievement of NASA's science objectives.
The PREFIRE mission joins a series of NASA science and technology missions launched by Rocket Lab, including the CAPSTONE mission to the Moon, the TROPICS mission with two back-to-back Electron launches in May 2023, the recent Starling mission, and the ACS3 mission launched last month on a rideshare mission.
About Rocket Lab: Founded in 2006, Rocket Lab is an end-to-end space company that offers launch services, satellite manufacturing, spacecraft components, and on-orbit management solutions. With headquarters in Long Beach, California, the company has made its mark with the Electron small orbital launch vehicle and the Photon satellite platform. Rocket Lab is also developing the Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Electron has become the second most frequently launched U.S. rocket annually.
InvestingPro Insights
Investors closely following Rocket Lab USA, Inc. (NASDAQ: RKLB) will find that the company's financial health and market performance provide a nuanced picture as it gears up for its upcoming PREFIRE missions. With a market capitalization of $1.87 billion, Rocket Lab is a significant player in the aerospace sector. According to real-time data from InvestingPro, the company's revenue for the last twelve months as of Q4 2023 stands at $244.59 million, marking a growth of 15.92%. This growth is a testament to the company's expanding operations and market presence.
One of the key InvestingPro Tips for Rocket Lab is the fact that the company holds more cash than debt on its balance sheet, which suggests a strong financial position to fund its operations and growth initiatives. Additionally, while analysts do not expect Rocket Lab to be profitable this year, they do anticipate sales growth in the current year, which could be a positive sign for future profitability.
InvestingPro data also shows that Rocket Lab's stock price has experienced a significant decline over the last three months, with a 26.65% drop. However, the company's liquid assets exceed short-term obligations, which indicates a degree of financial resilience in meeting its immediate financial commitments.
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