Rocket Lab Report Raises Optimism

Résumé détaillé

As revenue ran 72.7% higher to $267.834 million, the cost of that revenue ramped 81.8% to $177.763 million. That left a gross profit of $90.071 million (+57.2%) as gross margin…

The aerospace firm is facing a selloff but there could be positives ahead.

On Monday evening, portfolio holding Rocket Lab (RKLB) released the firm’s fiscal third quarter financial results. For the period ended September 30, Rocket Lab posted a GAAP EPS of -$0.12 on revenue of $267.834 million. While these results exceeded expectations for the top line, the bottom-line print disappointed. Sales growth was good for annual growth of 72.7%.

On the bright side, in addition to generating record revenue for the period, the firm’s order backlog reached approximately $3.6 billion, also a record and up 52% from the end of the second quarter. The firm also signed approximately $1 billion in new launch contracts across the Electron, HASTE and Neutron programs, bringing Rocket Lab’s total launch backlog to 117 launches. This, too, is a new record.

Included in that is more than $515 million in Neutron launch contracts from constellation operators. With the first Neutron launch now targeted for no earlier than 2027, the delay has hurt the share price.

“Q3 2026 was a defining quarter for Rocket Lab. We delivered a record $268 million in revenue ($34 million higher than Q2 2026) alongside a record backlog which has grown to $3.57 billion. Nearly $1 billion of that backlog comes from new launch contracts, signed in Q3 2026 alone, as well as $470 million signed for Space Systems. Our end-to-end space strategy is delivering exactly as designed: the world’s most critical and ambitious missions increasingly rely on Rocket Lab for launch, spacecraft, and components, sometimes all on a single mission, and every part of our business is growing as a result.”

As revenue ran 72.7% higher to $267.834 million, the cost of that revenue ramped 81.8% to $177.763 million. That left a gross profit of $90.071 million (+57.2%) as gross margin dropped from 36.9% to 33.6%. Operating expenses grew 45.6% to $169.26 million, leaving a GAAP operating income/loss of -$79.189 million (down from -$58.969 million).

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