Rocket Lab’s third-quarter 2026 results paired record revenue with a larger net loss, while its $3.57 billion backlog as of Sept. 30, 2026, showed the scale of launch and Space Systems work on its books.
Revenue for the three months ended Sept. 30 reached $268 million, up 73% from a year earlier and a record for the company. Rocket Lab reported a net loss of $79.7 million, compared with $18.3 million in the same quarter last year.
The backlog grew 52% from the end of the second quarter. Rocket Lab said it booked approximately $1 billion in new launch contracts; the company’s presentation says its launch-contract figure of more than $1 billion includes contract options. It also reported $470 million in new Space Systems contracts.
Launch work made up 52% of the quarter-end backlog, compared with 40% three months earlier. Rocket Lab’s financial presentation estimated that 32.9% of the backlog would be recognized as revenue within 12 months, with the rest expected after that period.
Operating expenses rose to $169.3 million from $116.3 million a year earlier. The company’s adjusted EBITDA loss narrowed to $18 million from $26.3 million in the year-earlier quarter. Adjusted EBITDA is a measure of earnings before interest, taxes, depreciation and amortization, with further adjustments made by the company.
Rocket Lab said its launch order book covered 117 flights, including 16 Neutron missions. The company continues to target Neutron’s first flight no earlier than 2027, a timeline covered in EconoTimes’ report on Neutron’s launch schedule.
Rocket Lab’s fourth-quarter outlook calls for $270 million to $290 million in revenue and a $14 million to $20 million adjusted EBITDA loss.
