The Zhitong Finance App learned that after the US stock market on November 9 (early morning of November 10, Beijing time), Rocket Lab (RKLB.US) announced the results for the third quarter of 2026. According to financial reports, the company's revenue was US$268 million, up about 73% year on year, a record high. It was higher than the company's previous guidance ceiling of US$250 million to US$265 million and the agreed market expectations of US$257 million; the loss per share was US$0.12, which was US$0.05 lower than market expectations.
GAAP's net loss of $79.7 million increased year over year, mainly hampered by $27.3 million in debt settlement losses, $21.3 million in transaction fees for the acquisition of Iridium, and $3.5 million in taxes; non-GAAP adjusted EBITDA loss of $18 million, which was within the guiding range; and GAAP operating cash flow was $7.2 million.
Among them, product revenue was $197.5 million and service revenue was $70.3 million, with orders being the biggest highlight. By the end of September, the backlog of orders reached US$3.57 billion, an increase of 52% over the previous quarter and an increase of about US$1.2 billion in a single quarter, including US$1 billion for new launches and US$470 million for space systems. The launch order backlog increased to 117 launches, a record. Company CEO Peter Beck said Q3 was a “decisive quarter.”
Demand for the new-generation mid-size recyclable rocket Neutron is strong: it signed more than $515 million in the third quarter, covering 8 launches and 5 constellation operators. The benchmark launch price was raised from 55 million US dollars to 70 million US dollars, reflecting customer confidence under the tightening capacity of the industry; its first flight target is no earlier than 2027.
In terms of space systems, 12 spacecraft manufactured by Rocket Lab have successfully entered orbit (including 8 Globalstars, 2 NASA missions to Mars, US Space Force VICTUS HAZE, etc.), and more than 55 spacecraft are under development. The acquisition of Iridium has completed ATM equity financing and has been approved by lenders and shareholders.
The company expects fourth-quarter revenue of $270 million to $290 million, non-GAAP gross margin of 39% to 41%, GAAP gross margin of 34% to 36%, and adjusted EBITDA loss of $14 million to $20 million.