Rocket Lab soars to new high after earnings topper, strong guidance
Rocket Lab USA (NASDAQ:RKLB) rallied in postmarket trading on Tuesday after showing off even more growth potential with its Q3 earnings report.
The company reported revenue increased 55% year-over-year to $104.8 million. During the quarter, Rocket Lab (RKLB) signed several new Electron launch contracts, with a total value of $55 million, demonstrating an increased average selling price of $8.4 million and showcasing a 67% pricing increase since the rocket’s debut launch.
Total operating expenses were $51.9 million vs. $38.9 million a year ago. EPS was reported at -$0.10 vs. -$0.11 consensus and -$0.08 a year ago.
Rocket Lab (RKLB) also highlighted that it continues to see strong demand growth, with its backlog at $1.05 billion.
Looking ahead, RKLB sees Q4 revenue of between $125 million and $135 million, GAAP gross margins of between 26% and 28%, and non-GAAP gross margins between 32% and 34%. “We expect to close out the year strongly with more Electron launches scheduled in November and December, alongside continued progress across Neutron and space systems,” highlighted CEO Peter Beck.
Shares of Rocket Lab USA (RKLB) were up 19.2% to a new high of $17.48 in postmarket trading.