ROCKET LAB $RKLB Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $268M (Est. $256M) 🟢; +73% YoY
🔹 EPS: -$0.12 (Est. -$0.07) 🔴
🔹 Adj. EBITDA: -$18.0M (Est. -$21.1M) 🟢
🔹 Backlog: $3.57B; +52% QoQ
🔹 Non-GAAP Gross Margin: 38.4%; -350 bps YoY
Q4 Guide:
🔹 Revenue: $270M-$290M (Est. $265M) 🟢
🔹 Adj. EBITDA: -$14M--$20M (Est. -$13.1M) 🔴
🔹 GAAP Gross Margin: 34%-36%
🔹 Non-GAAP Gross Margin: 39%-41%
Announcements:
🔹 Neutron: $515M+ contracts; 16 missions; $70M base price
🔹 New Launch Contracts: ~$1B; 117-launch record backlog
🔹 Neutron First Launch: no earlier than 2027
🔹 Spacecraft: Twelve launched; 55+ in development and build
🔹 Iridium Acquisition: shareholder approval obtained
Key Updates:
🔹 Loss on extinguishment of debt: $27.3M; included in GAAP net loss and Adjusted EBITDA reconciliation
🔹 GAAP Operating Cash Flow: $7.2M positive
Comments:
🔸 “Nearly $1 billion of that backlog comes from new launch contracts, signed in Q3 2026 alone, as well as $470 million signed for Space Systems.”
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