Rocket Lab Corporation (RKLB) rallied in postmarket trading on Monday after reporting Q3 results ahead of expectations.
Revenue was up 48% year-over-year to $155.1 million to set a quarterly record. During the quarter, the company secured 17X Electron launch contracts. Rocket Lab (RKLB) said it is also set to surpass its previous annual launch record in the fourth quarter, and remains on track to close out the year with more than launches.
Rocket Lab (RKLB) narrowed its Q3 EPS loss to -$0.03 from -$0.10 a year ago.
“With progress across our major space systems programs, record backlog of contracts for our launch services business, and well-timed, strategic M&A in growth areas that are well-aligned with next-generation defense programs like Golden Dome and the Space Development Agency’s future constellations, our momentum is strong and we’re poised to deliver long-term exciting growth,” highlighted CEO Peter Beck.
Looking ahead, Rocket Lab (RKLB) guided for Q4 revenue of between $170 million and $180 million (midpoint $175 million) vs. $171 million consensus and an adjusted EBITDA loss of $23 million and $29 million.
Shares of Rocket Lab (RKLB) soared 7.5% in postmarket action. Short interest on RKLB stands at 11.3% of the total float.