Rocket Lab (RKLB) Reports Strong Q3 Earnings and Revenue Growth
Rocket Lab aims to get its launch business back on track, reporting a net loss of $40.6 million in the third quarter, with revenue growing 7% to $67.6 million. The company plans to resume Electron launches by November 28th after a mid-September mission failure. Rocket Lab has fully booked its schedule for 2024 with 22 Electron missions. Its space systems unit brought in the majority of revenue, with $46.3 million this quarter, and the company is making progress in developing its next-generation Neutron vehicle. For the fourth quarter, Rocket Lab expects revenue between $65 million and $69 million, with first quarter 2024 revenue projected to climb to between $95 million and $105 million.