Are You Waiting for the SpaceX IPO? Check Out These 3 Space Stocks Instead.

The long-awaited SpaceX initial public offering (IPO) is rapidly approaching. June 12 is the big day, but you don't have to wait that long to buy space stocks. In fact, loading up on the sector in the days leading up to the SpaceX IPO could be a prudent move. Some stocks in the industry have been rallying as the excitement builds, and these three are particularly worth monitoring.

AST SpaceMobile

AST SpaceMobile (NASDAQ: ASTS) works with telecom companies to make cell service more accessible worldwide. Its satellite-based cellular broadband networks act as an alternative for consumers where they cannot connect to terrestrial cell towers.

The company launched the largest commercial communications satellite ever into orbit in late 2025, and plans one to two satellite launches per month this year. AST SpaceMobile intends to have a constellation of 45 satellites in orbit by the end of the year. A large backlog between the U.S. government and telecom providers offers the foundation for reaching that goal.

The company's sales could accelerate quickly, especially as it demonstrates it can launch more satellites at scale. The $70.9 million it booked in revenues in 2025 is dwarfed by its 2026 revenue projection range of $150 million to $200 million. AST SpaceMobile said its backlog is enough to achieve half of its full-year revenue guidance.

The space company will have to burn through more cash before it is in a position to reach profitability, however. Its $191 million in Q1 net losses serves as a strong reminder of that reality. That's the main downside right now, but AST SpaceMobile has plenty of cash on its books to see it through its start-up phase.

Image source: Getty Images.

The satellite communications company has more than $3 billion in cash and a current ratio above 18. Short-term liabilities aren't much of a problem for it, and with governments and leading telecom providers invested in AST SpaceMobile's success, it appears to be only a matter of time before the company becomes profitable.

Intuitive Machines

Intuitive Machines (NASDAQ: LUNR) doesn't build rockets, but it is a key provider of essential space infrastructure. Just as an artificial intelligence (AI) chip has many components, the space industry has many parts. Intuitive Machines specializes in building spacecraft that go inside rockets.

The company has government contracts that translate into growing business opportunities. For instance, Intuitive Machines recently announced that it had won two prime contracts for lunar reconnaissance -- one with NASA to operate the camera of the Lunar Reconnaissance Orbiter, and the other to operate a "specialized lunar imaging camera on board the Korea Pathfinder Lunar Orbiter that provides visibility in light obscured conditions such as dark and shadowed regions of the Moon."

Lunar exploration has the potential to be a big deal for the economy because the moon hosts pockets of valuable resources like helium-3 and lunar ice. It is hoped that lunar ice could be extracted and converted into rocket fuel for interplanetary missions, as well as drinking water for astronauts.

Intuitive Machines is also posting juicy financial growth that has turned it from a speculative pick into a space stock capable of driving meaningful long-term returns. The company brought in $210.1 million in 2025 revenue, and management's guidance is for $900 million to $1 billion in 2026 revenue.

Intuitive Machines started 2026 strong with $186.7 million in Q1 revenue, nearly tripling year over year. Its recent Lanteris acquisition played a big role in that growth, and helped the company achieve positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

Rocket Lab

Rocket Lab (NASDAQ: RKLB) specializes in launching rockets, and it continues to sign big contracts. The company generated a record-breaking $200 million in revenue in Q1, and closed the period with a $2.2 billion backlog. Its 63.5% year-over-year top line increase came with a 20.2% sequential improvement in backlog.

Gains like those would be a good combination for any growth stock, especially in a high-demand industry like space exploration. Rocket Lab also expanded its services by acquiring laser optical communications terminal provider Mynaric. And it signed an agreement to acquire Motiv Space Systems, which specializes in space robotics, motion control systems, and precision mechanisms for spacecraft.

Rocket Lab is keeping its foot on the accelerator, as management offered Q2 revenue guidance in the $225 million to $240 million range. So far, Rocket Lab stock has more than quadrupled over the past year, and as its sequential growth continues, Rocket Lab can continue to outpace the S&P 500.

Marc Guberti has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AST SpaceMobile, Intuitive Machines, and Rocket Lab. The Motley Fool has a disclosure policy.