Rocket Lab CEO Peter Beck said the company’s planned acquisition of Iridium Communications is the start of a broader push into space applications, targeting satellite IoT, direct-to-device connectivity, positioning, navigation and timing, defense, aviation and maritime safety instead of mass-market broadband. On Rocket Lab’s second-quarter earnings call, Beck said Iridium’s globally coordinated L-band spectrum is not well suited for broadband and indicated competing directly with Starlink and Amazon’s Leo effort would be difficult. Rocket Lab agreed in June to acquire Iridium in a cash-and-stock transaction valued at about $8 billion in enterprise value, with closing expected in mid-2027 subject to shareholder and regulatory approvals. The comments came as Rocket Lab reported second-quarter revenue of $234.07 million, above the $231.35 million consensus estimate, a loss of 8 cents per share versus an expected 7-cent loss, record backlog of $2.36 billion, and about $2.13 billion in cash and cash equivalents, while forecasting third-quarter revenue of $250 million to $265 million, above the $238.53 million analyst estimate, and an adjusted EBITDA loss of $17 million to $23 million. Shares closed at $80.04 on Monday, fell 9.6% to $72.36 in Tuesday premarket trading, and were later up 2.24% at $81.80 on Wednesday, while analysts kept mixed views even as some raised price targets.