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Rocket Lab Beats Q3 Expectations With Record Margin as Launch Backlog Grows, Shares Rise

Guidance points to higher fourth-quarter revenue despite an expected adjusted EBITDA loss.

Overview

  • Revenue reached $155.05 million with a loss of $0.03 per share, topping analyst estimates on both metrics.
  • GAAP gross margin hit a company record of 37%, with management indicating margins should hold in the high‑30s next quarter.
  • Seventeen new Electron launch contracts lifted the backlog to 49 missions, and the company says it is on track to finish the year with more than 20 launches.
  • Fourth-quarter outlook calls for $170 million to $180 million in revenue and an adjusted EBITDA loss of $23 million to $29 million.
  • Rocket Lab closed the $325 million Geost acquisition, reported $807.88 million in cash and over $1 billion in total liquidity, and said Neutron hardware is slated to reach Launch Complex 3 in Q1 2026 with first flight thereafter pending testing.