SpaceX competitor Rocket Lab soared on its Q3 results late Tuesday, set to add to its 165% rally so far this year. AST SpaceMobile (ASTS), a satellite manufacturer and SpaceX partner, is scheduled to report late Thursday.
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Rocket Lab (RKLB) reported a loss of 10 cents per share, widening from a loss of 8 cents last year. Revenue increased 55% to $105 million.
FactSet expected a loss of 11 cents per share on 51% revenue growth to $102.3 million.
The company’s backlog rose to $1.05 billion, while analyst estimates were just shy of $1.1 billion.
Rocket Lab also noted that its Electron rocket is the third most-frequently launched rocket in the world in 2024, trailing only SpaceX and China.
Looking ahead, Rocket Lab expects Q4 revenue between $125 million and $135 million, ahead of FactSet estimates of $121 million.
Separately, the company also announced a new launch service agreement with a confidential commercial satellite constellation operator for its medium-lift rocket Neutron. As part of the contract, Rocket Lab will launch two missions on the Neutron in mid-2026. Financial details of the deal were not disclosed. The reusable launch vehicle is expected to conduct its debut launch in 2025, at which point Rocket Lab hopes it can on-ramp onto the U.S. Government’s National Security Space Launch (NSSL) Lane 1 program, which has a contract valued at $5.6 billion over a five-year period.
Rocket Lab projects more than 10,000 satellites will need launch services by 2030, and the company estimates the total addressable market value will balloon to about $10 billion.
Rocket Lab Stock Jumps After Hours
RKLB stock spiked nearly 22% late Tuesday on results. The stock closed down less than 1% during Tuesday’s regular session.
Shares have rocketed 165% this year through Tuesday’s close.
Elsewhere, satellite manufacturer and telecommunications company AST SpaceMobile reports Q3 results late Thursday. FactSet expects a loss of 23 cents per share, improving from a loss of 23 cents last year. Analysts forecast sales of $1.8 million.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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