2 major contracts for RKLB this week !

Rocket Lab USA (RKLB) said Thursday it won a $32 million contract from the US Space Force Space Systems Command to manufacture and launch a spacecraft for the Victus Haze Tactically Responsive Space mission.

The Space Force's mission, expected to launch in 2025, will be an exercise of responding to on-orbit threats and space domain awareness demonstration, the company said.

-MT Newswires

KEY POINTS
Rocket Lab said it won a U.S. Space Force award to design, build, and launch an experimental new satellite.
The contract is only $32 million, spread over a couple of years, but it speaks to the company's growing credibility inside the government.

The company nabs a second Space Force award this week.

Another day, another contract win for Rocket Lab USA (RKLB 3.21%). Investors are taking notice, lifting shares of the space start-up as much as 6% on Thursday afternoon before closing up 3.2%.

A big week for contracts
Rocket Lab is one of a handful of young space stocks trying to elbow in on a business traditionally controlled by a handful of large incumbents. Much of that potential business comes from the U.S. government, which has been trying to lessen its reliance on defense primes and increase innovation.

It's been a good week for Rocket Lab on the contract front. On Monday, the company announced a U.S. Space Force contract valued at $14.5 million. Just days later, Rocket Lab announced that Space Force had also selected it for a separate $32 million award for a tactically responsive space mission.

The latest award calls for Rocket Lab to design, build, and launch a satellite capable of conducting an in-space rendezvous proximity operation to respond to and neutralize in-orbit threats.

"The ability to design, build, launch and operate a spacecraft within one streamlined team is rare and will deliver unparalleled speed and value to the nation," Rocket Lab CEO Peter Beck said in a statement.

Is Rocket Lab stock a buy after its big Space Force win?
Two wins totaling more than $46 million make for a great week for a company that did just $244.59 million in sales in the last 12 months. However, it is important to note that the revenue will come in over time, with this latest mission not being targeted to launch until 2025, for example.

The more important win here is credibility. For all the talk of the potential for commercial space operations, the U.S. government remains an important customer. Establishing itself as a reliable partner with Space Force should open doors for Rocket Lab, both inside and outside of Washington.