Covid 19 Lockdowns in New Zealand are Delaying Rocket Lab Launch Schedule

Due to the recent lockdowns issued in New Zealand this year, the expected Rocket Lab launch will be delayed to at least late October. Company executives have come forward with a statement that an already foreseen delay would have occurred due to the delta variant of the pandemic. The lockdown has impacted operations on a global scale, including current orders for workers to stay at home, leading to a delay in launch operations.

Rocket Lab launch will still happen, albeit with a slight delay

Representatives of Rocket Lab have stated that despite the current state of lockdown, the planned launch will happen sometime during October. Peter Beck, Rocket Lab CEO, is hopeful that the current restrictions will be lifted by the end of September. The company has had to push back its plans to perform three dedicated Electron launches for BlackSky satellites. The launches had been scheduled for late August, but due to restrictions, were pushed back indefinitely. Another Rocket Lab launch had to be pushed back due to the lockdown – NASA’s Capstone lunar CubeSat. The CubeSat was supposed to launch on another Electron from Launch Complex 1 in New Zealand.

Lockdown delays are cutting projected revenues short

Due to the lockdown measures, Chief Financial Officer Adam Spice is assuming a delay or cancellation of three of the five scheduled Electron launches for the fourth quarter of the year. All five launches would bring in $40+ million in revenue, whereas the company is forecasting that only $20 million will be achieved for the fourth quarter. Despite this Rocket Lab launch delay, the company continues to expand and grow, with record revenue of $29.5 million in the first half of 2021. Full-year revenue is expected to achieve $50-54 million.

These revenues indicate a steady increase in productivity and profitability with every subsequent launch. Despite the severity of the lockdown measures, pricing for the company seems to hold fast. The company is hoping to achieve its Rocket Lab Launch campaign goals, despite the delay.