Space technology company reports accelerating revenue growth and a $3.57 billion backlog, although earnings losses exceed analyst estimates.
Rocket Lab Corporation (RKLB) reported third-quarter 2026 revenue of $268 million, surpassing Wall Street expectations of $256 million and representing a 73% increase from the same period last year.
The strong revenue performance highlights growing demand for Rocket Lab’s launch services, satellite systems, and space infrastructure solutions.
Despite the revenue beat, the company reported a loss of $0.12 per share, wider than analysts’ projected loss of $0.07 per share.
However, adjusted EBITDA came in at negative $18 million, outperforming expectations for a $21.1 million loss, suggesting improvements in certain operational performance measures.
Rocket Lab also reported a substantial increase in its order backlog, reaching $3.57 billion, up 52% from the previous quarter. The expanding backlog provides greater revenue visibility and reflects continued customer demand across its space technology operations.
Meanwhile, non-GAAP gross margin declined 350 basis points year over year to 38.4%, highlighting ongoing profitability challenges as the company scales.
Looking ahead, investors will closely monitor Rocket Lab’s ability to convert its growing backlog into revenue, improve margins, and advance toward sustainable profitability while capitalizing on expanding commercial and government space opportunities.
