One Space Stock Delivers Revenue Growth Despite Delays While Its Rival Disappoints Investors Entirely

Core Insights - Rocket Lab (RKLB) has demonstrated significant revenue growth despite operational delays, while AST SpaceMobile (ASTS) has disappointed investors with poor performance and high valuation metrics [1] Group 1: Rocket Lab Performance - Rocket Lab reported an annual revenue of $554 million and secured an $816 million defense contract, expected to generate an additional $200 million in revenue over four years [1] - The company launched its 80th and 81st Electron missions in January, maintaining a strong operational track record [1] - Q3 2025 revenue reached $155 million, reflecting a 48% year-over-year increase, with gross margins of 37% [1] - The company has a backlog of $1 billion, which grew 56% year-over-year in launch services alone [1] Group 2: Challenges Faced by Rocket Lab - A rupture in the Stage 1 tank of the Neutron rocket during testing has delayed its debut to the first half of 2026, impacting investor sentiment [1] - Despite the Neutron setback, Rocket Lab's core business remains strong, with CEO Peter Beck indicating robust momentum [1] Group 3: Comparison with AST SpaceMobile - AST SpaceMobile reported only $18.5 million in revenue and trades at a price-to-sales ratio of 1,655x, indicating a lack of operational maturity compared to Rocket Lab [1] - AST SpaceMobile missed Q3 targets and raised $1 billion through convertible notes, highlighting its financial struggles [1] - Rocket Lab's proven revenue generation and operational execution contrast sharply with AST SpaceMobile's ongoing cash burn and execution risks [1]