Rocket Lab Exceeds Q3 2024 Earnings Expectations with $105M Revenue, -$0.10 EPS, and 55% YoY Increase

Nov 12, 2024, 09:19 PM

Rocket Lab USA ($RKLB) has reported its Q3 2024 earnings, exceeding market expectations. The company posted a revenue of $105 million, surpassing the expected $102 million, and an EPS of -$0.10, beating the estimated -$0.11. Rocket Lab's revenue increased by 55% year-over-year. Despite a net loss of $51.9 million, the company reported a significant backlog of $1.05 billion. GAAP Gross Margins were between 26% and 28%, and GAAP Operating Expenses were between $84 million and $86 million. Adjusted EBITDA stood at -$30.9 million. Additionally, Rocket Lab signed a multi-launch agreement with a confidential commercial satellite constellation operator for its new medium-lift rocket, Neutron. The company's stock saw a post-market increase of 10% following the earnings report.