Space stocks rose in premarket trading on Friday. KULR Technology Group, Inc. jumped 16%, Rocket Lab USA soared 7%.
Rocket Lab USA, Inc. and Stoke Space Technologies have been awarded a U.S. Air Force contract with a maximum cumulative ceiling of $5.6B for the National Security Space (NSS) Launch Phase Three Lane One fiscal 2025 on-ramp.
The contract is for launch services delivering NSS payloads into their intended orbits. The contract will include a four-year, two-month ordering period, which will go through June 2029, with an option for an additional ordering period of five years.
KULR Technology Group, Inc. reports quarterly GAAP losses of 2 cents per share, in line with the analyst consensus estimate. Quarterly revenue clocks in at $3.37 million which beat the consensus estimate of $2.9 million.