Rocket Lab reported record Q3 2026 revenue on Nov. 9, while its backlog rose 52% sequentially to $1.2 billion. The company also achieved positive GAAP operating cash flow, but its quarterly loss was steeper than analysts expected. Its Q4 guidance called for another record in revenue and further gross margin expansion. The stock fell on Nov. 10 despite the record backlog and upbeat outlook, with the decline linked to disappointing earnings in what the company called a defining quarter.
Rocket Lab shares slid following a corporate update featuring a record-high backlog and positive guidance, as market sentiment outweighed strong fundamental indicators.
Read the full storyShares fell 3.8% in after-hours trading despite revenue topping estimates, as the per-share loss widened beyond analysts’ consensus.
Revenue rose 73% year over year, while the company reported positive operating cash flow and forecast fourth-quarter revenue of $270 million to $290 million.