Rocket Lab posts $268 million in third-quarter revenue

Rocket Lab has posted record third-quarter revenue of $268 million, up 73 percent from a year earlier and $34 million above the second quarter. The quarter ended September 30, 2026. Backlog is about $3.57 billion. The company says that is a 52 percent increase since the end of the second quarter. GAAP operating cash flow was positive $7.2 million.

Launch contracts signed in the quarter are about $1 billion. That figure covers Electron, HASTE, and Neutron, and it takes the launch backlog to 117 flights. Space Systems contracts signed in the quarter are $470 million. Founder and chief executive Peter Beck says, "We delivered a record $268 million in revenue ($34 million higher than Q2 2026) alongside a record backlog which has grown to $3.57 billion." The release says the company is guiding to record revenue and gross-margin expansion in the fourth quarter.

Neutron accounts for more than $515 million of the new launch work. The contracts are eight missions across five constellation operators. ICEYE has signed three dedicated launches beginning in late 2028. Muon Space has signed two, one in 2029 and one in 2030. Starcloud has booked a dedicated launch in 2029. Kepler Communications has one dedicated launch signed in the quarter. A United States Space Force launch under the Space-Based Airborne Moving Target Indicator program is the fifth.

The Neutron base price is now $70 million, up from $55 million. Several of the new missions were sold at that $70 million base. The manifest stands at 16 missions. Rocket Lab says the next available launch opportunities are now in the 2030s. First launch is targeted for no earlier than 2027. The company says flight hardware is in assembly, integration, and test, and that first-flight hardware is being delivered to Launch Complex 3.

The quarter also added spacecraft already on orbit. Twelve Rocket Lab-built spacecraft launched and are operating. That set includes eight platforms for Globalstar's direct-to-device constellation, twin spacecraft on a NASA Mars science mission, the VICTUS HAZE mission for the United States Space Force, and one spacecraft for Viasat's NASA Communications Services Depot. More than 55 spacecraft are in development or build, for NASA, the Space Development Agency, the Space Force, and commercial constellation operators.

Neutron's debut remains a 2027 target, not a dated flight. The company has not set a month.