Rocket Lab said fresh delays could push the first launch of its Neutron rocket to 2027, underscoring the execution risk around a program it sees as key to competing with SpaceX's Falcon 9. The company still plans to deliver Neutron to the launch pad in the fourth quarter, but did not confirm that a maiden flight will happen this year, after previously targeting a debut by the end of 2026. It said the rocket's complex development cycle carries "risks and uncertainties," with timing dependent on booster test results and other factors. The update came alongside quarterly results showing record revenue of $234 million, above the $232 million expected by the market, and an adjusted loss of $0.08 per share, slightly worse than analysts' forecast for a $0.07 loss. Rocket Lab projected third-quarter revenue of $250 million to $265 million, topping consensus expectations of $237 million. Its U.S.-listed shares fell about 2% in after-hours trading after the news. The company also said Kepler Communications has booked a dedicated Neutron launch no earlier than 2028.