Yeah, that seems grossly unrealistic. They are growing. Neutron is almost complete, and I'd expect significant growth in their launch revenue from that, and their space services are also doing well. So I could easily see their revenue increasing 5x over the next 5 years, maybe 10x. But that market cap can only be justified by the space market as a whole growing 100x, and RL maintaining a significant portion of it with strong competition from SpaceX, Blue Origin, and others.

This is a good question for SpaceX too.

Why was Uber valued in billions for years while making zero profit?

Why was Amazon valued at billions while making zero profit?

The stock market prices companies by many factors, revenue and profit are factors but so is growth.

Utilities companies make lots of profits but they are valued badly because they don’t grow at all!

Markets are forward looking and space is seen as a huge growth driver for the future, also RocketLab has been growing their top line revenue massively over the last few years.

Exactly my point.

Iridium's revenue is larger, and I wouldn't think they'd be losing money.

But apparently you can buy things with promises (if you're in the right club, of course).