Rocket Lab projects third-quarter 2026 revenue of $250M to $265M and said it targets a mid-2027 close on its $8 billion acquisition of Iridium Communications, the satellite operator that operates a constellation of 66 active spacecraft.
The deal, announced in August, would combine Rocket Lab's launch services and spacecraft manufacturing with Iridium's operational satellite network and communications infrastructure. The $8 billion enterprise value figures as roughly 3.2 times Rocket Lab's annual revenue run rate at the Q3 midpoint. Rocket Lab said the transaction requires approvals from Iridium shareholders and U.S. regulatory bodies including the Committee on Foreign Investment in the United States and the Federal Communications Commission.
Rocket Lab operates the Electron orbital launch vehicle and produces small satellites through its Photon platform. Iridium's constellation handles broadband and data services across 140 countries, with a customer base that includes government agencies, maritime operators, and aviation companies. The company's network is used for emergency communications, remote operations, and IoT applications where terrestrial coverage is unavailable.
Regulatory approval timelines for space transactions have extended significantly in recent years. The Committee on Foreign Investment in the United States process alone can require 45 calendar days for an initial review, with potential extensions to 75 days or longer if concerns are flagged. The FCC reviews satellite licensing and foreign ownership thresholds under rules that cap non-U.S. citizen voting interest at 20 percent.
Rocket Lab's Q3 guidance implies sequential growth from the second quarter. The company's full-year 2026 outlook has not been detailed in available filings. Iridium operates under a Congressionally-granted monopoly for non-government fixed satellite services in the United States, a regulatory status that figures into acquisition review under national security statutes.
The mid-2027 close target places the deal completion roughly 15 months from the announcement. Space industry precedent shows satellite infrastructure deals facing 12-to-24-month approval windows; Maxar's 2017 acquisition of ViaSat-1 and related assets required similar timeframes. If Rocket Lab has not received FCC and CFIUS clearances by first-quarter 2027, the timeline will compress.
