Rocket Lab earnings show record orders, but Neutron debut waits until at least 2027
Earnings results
- EPS
GAAP loss per share: $0.12 · Comparable consensus not provided
- Revenue above company outlook
Actual: $267.8M · Prior company range: $250–265M
- Guidance issued
Q4 revenue: $270–290M · GAAP gross margin: 34–36%
What the company reported
Record quarterly revenue and backlog improve sales visibility, while the Neutron first-flight timetable is now no earlier than 2027.
Q3 2026 earnings recap
Rocket Lab reported record revenue and a $3.57 billion order backlog, but its Neutron rocket will not debut before 2027, keeping execution risk central to the growth story.
- Third-quarter revenue rose 73% to $267.8 million, exceeding management’s $250–265 million outlook.
- The net loss widened to $79.7 million, or $0.12 per share, including a $27.3 million charge from retiring debt.
- Operating cash flow turned positive at $7.2 million for the quarter, although this excludes spending on equipment and facilities.
- Management projected fourth-quarter revenue of $270–290 million and a 34–36% gross margin, the share of sales left after direct costs.
- New Neutron contracts exceeded $515 million, but converting those orders into revenue depends on successfully bringing the rocket into service.
- The shares traded about 5.3% below the November 9 regular close after results, while that $58.86 close implied roughly 44 times trailing annual revenue.
Watch launch readiness and contract deliveries next, with the $59–61 area a chart hurdle and $50–53 a support area if the rebound fades.
Financials, technicals and earnings
Charts through Nov 9, 2026.
Technical setup and risks
The regular close recovered toward late-October highs, but launch execution, contract timing and an expensive sales multiple leave downside risk.
AI-assisted earnings research with verified issuer results. Charts use the stated completed session. Educational information; investing involves risk.