Core Viewpoint - The space economy is emerging as a significant investment theme in 2026, with SpaceX leading the market and planning an IPO, while Rocket Lab presents an immediate investment opportunity with substantial stock growth over the past five years [1]. Group 1: Company Overview - Rocket Lab, founded by Peter Beck, has evolved into a major player in the space industry, initially focusing on launching small rockets and expanding into building space systems like satellites and solar arrays [3]. - The company has achieved impressive revenue growth, reporting $554 million in revenue over the last 12 months, which represents an increase of nearly 1,000% over the past five years [4]. Group 2: Financial Performance - Rocket Lab's backlog for rocket launches has increased by 56% year over year, exceeding $500 million, indicating strong demand for its services [4]. - Despite revenue growth, Rocket Lab is experiencing significant cash burn, with a free cash burn of $232 million over the last 12 months, primarily due to investments in the Neutron rocket [5]. Group 3: Future Prospects - The Neutron rocket, which is expected to have a larger payload capacity than the Electron, is crucial for Rocket Lab's future revenue growth, although testing delays have postponed its first flight to later in 2026 [6]. - If Rocket Lab successfully demonstrates the Neutron's capabilities while continuing to grow its Electron and space systems business, it could lead to substantial growth in backlog and stock value [7].