The space sector is drawing investor attention beyond SpaceX, with a group of publicly traded companies posting double-digit revenue growth and analyst upgrades despite persistent unprofitability.
Rocket Lab, valued at $40.4 billion, reported revenue nearly tripling from $244.6 million in 2023 to $601.8 million in 2025, though its stock remains unprofitable with a negative P/E. Shares trade at $64.04, with analysts projecting an 82.1% upside despite a fair-value model indicating a 43.5% overvaluation. The company’s Neutron rocket program positions it as a potential medium-lift alternative to SpaceX.
AST SpaceMobile, with a $18.4 billion market cap, has seen revenue surge 2,257% year-over-year to $70.9 million, though it remains unprofitable. Its stock, at $58.28, carries a 30.2% analyst upside as it builds the first space-based cellular broadband network targeting global telecom markets.
Among profitable incumbents, Kratos Defense reported $1.35 billion in revenue for a 25.5% increase, trading at $51.89 with a 93.7% analyst upside. Iridium, valued at $5.0 billion, posted $871.7 million in revenue and a 3.1% rise, with shares up 167% year-to-date at $46.68 despite a 53.4x P/E ratio.
Planet Labs, with a $7.5 billion valuation, saw revenue grow 34.1% to $307.7 million, while Firefly Aerospace’s revenue jumped 179.2% to $159.8 million. Both remain unprofitable but carry analyst upsides of 79.6% and 73.7%, respectively. Intuitive Machines, which became the first private company to land on the Moon in 2024, trades at $15.37 with a 79.2% upside, backed by NASA contracts.
Redwire, valued at $2.8 billion, posted $335 million in revenue and a 63.1% increase, with shares at $10.79 and a 33.1% analyst upside. Investors seeking diversified exposure can consider the ARK Space & Defense Innovation ETF or the Procure Space ETF, both of which include secondary SpaceX exposure.
