Rocket Lab Revenue Reaches Record $268 Million as Backlog Hits $3.57 Billion

Rocket Lab Corporation (RKLB) posted record third-quarter revenue of $268 million and a $3.57 billion backlog, expanding its order book as its net loss widened from a year earlier.

Revenue grew 73% from the year-earlier quarter. Backlog rose 52% from the previous quarter and included 117 launches. Rocket Lab also secured $470 million in new Space Systems contracts.

The company recorded an $80 million net loss, compared with $18.3 million a year earlier. Its adjusted EBITDA loss for the quarter was $18 million.

Rocket Lab forecast fourth-quarter revenue of $270 million to $290 million and an adjusted EBITDA loss of $14 million to $20 million.

Neutron, Rocket Lab’s reusable medium-lift rocket, gained more than $515 million in launch contracts from five constellation operators. The agreements added eight missions, bringing Neutron’s backlog to 16 missions before its first flight.

Rocket Lab still targets that flight for no earlier than 2027. Voids found in a forward dome for the rocket’s first-stage tank prompted work on a replacement dome, inspections and further testing, as detailed in earlier coverage of Neutron’s launch timeline.