Rocket Lab Reports Q3 Revenue of $267.8 Million and Announces $270‑$290 Million Q4 Guidance

RKLB reported record third-quarter 2026 revenue of $267.8 million after the close on November 9, up 73% from $155.1 million a year earlier and ahead of the roughly $257.2 million analysts expected. It guided fourth-quarter revenue to $270 million to $290 million, above the consensus of about $265.4 million. The bottom line was weaker: a net loss of $79.7 million, or $0.12 per share, against a consensus loss of $0.07 per share.

The shares swung hard. They fell about 6.5% in after-hours trading on November 9 and opened Tuesday at $54.99 against a $58.86 prior close. Coverage tied the drop to the wider loss and to Neutron, the company's medium-lift rocket, whose first launch is now targeted for no earlier than 2027. Buyers then stepped in, and the stock reversed to close the session at $62.71, up 6.5% on the day.

Underneath the loss, margins improved. GAAP gross margin of about 33.6% and non-GAAP gross margin of 38.4% both cleared the company's own guidance ranges of 29% to 31% and 35% to 37%. The company reported a record backlog of about $3.6 billion, up 52% since the end of the second quarter. Fourth-quarter guidance calls for GAAP gross margins of 34% to 36% and an adjusted EBITDA loss of $14 million to $20 million.

What to watch: whether Neutron holds to its new timeline (management has not given a month or quarter for the first launch), how quickly the $3.6 billion backlog converts into launch and space systems revenue, and whether Q4 revenue lands inside the $270 million to $290 million range.