LONG BEACH, Calif., Nov. 09, 2026 (GLOBE NEWSWIRE) — Rocket Lab Corporation (Nasdaq: RKLB), a global leader in launch services and space systems, today shared the financial results for fiscal third quarter ended September 30, 2026.

Rocket Lab founder and CEO, Sir Peter Beck, says: “Q3 2026 was a defining quarter for Rocket Lab. 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. Nearly $1 billion of that backlog comes from new launch contracts, signed in Q3 2026 alone, as well as $470 million signed for Space Systems. Our end-to-end space strategy is delivering exactly as designed: the world’s most critical and ambitious missions increasingly rely on Rocket Lab for launch, spacecraft, and components, sometimes all on a single mission, and every part of our business is growing as a result.”

Highlights for the Third Quarter 2026, plus business updates since September 30, 2026.

  • Record quarterly revenue of $268 million, a 73% increase year-on-year.
  • Record backlog of approximately $3.6 billion, a 52% increase since end of Q2 2026.
  • Positive GAAP operating cash flow of $7.2M.
  • Approximately $1 billion in new launch contracts signed across Electron, HASTE, and Neutron, bringing Rocket Lab’s total launch backlog to 117 launches: a new record.
  • Secured over $515M in Neutron launch contracts from constellation operators in Q3, growing the rocket’s backlog to 16 missions ahead of its debut and lifting the base launch price to $70 million for several of these missions as industry launch capacity tightens. With first launch now targeted for no earlier than 2027, critical milestones continue to be achieved across assembly, integration, testing, and delivery of first flight hardware to Launch Complex 3.
  • Twelve Rocket Lab-built spacecraft successfully launched to orbit and now operating, including eight satellite platforms for Globalstar’s direct-to-device communications constellation, twin spacecraft conducting Mars science for NASA, the responsive space VICTUS HAZE mission for the United States Space Force, and a single spacecraft for Viasat’s NASA Communications Services Depot.
  • More than 55 spacecraft now in development and build across Rocket Lab’s production complexes, including spacecraft for NASA, the Space Development Agency, USSF, and commercial constellation operators.
  • Fully funded Rocket Lab’s pending acquisition of Iridium Communications through a completed ATM equity offering and received approval by Iridium lenders to maintain Iridium’s credit facility post-transaction, and obtained overwhelming approval from Iridium shareholders in favor of the acquisition.

Fourth Quarter 2026 Guidance
For the fourth quarter of 2026, Rocket Lab expects:

  • Revenue between $270 million and $290 million.
  • GAAP Gross Margins between 34% and 36%.
  • Non-GAAP Gross Margins between 39% and 41%.
  • GAAP Operating Expenses between $162 million and $168 million.
  • Non-GAAP Operating Expenses between $136 million and $142 million.
  • Interest Income net $45 million.
  • Adjusted EBITDA loss of between $14 million and $20 million.
  • Basic Weighted Average Common Shares Outstanding of 681 million, including approximately 41 million of Series A Convertible Participating Preferred Shares.

See “Use of Non-GAAP Financial Measures” below for an explanation of our use of Non-GAAP financial measures, and the reconciliation of historical Non-GAAP measures to the comparable GAAP measures in the tables attached to this press release. We have not provided a reconciliation for the forward-looking Non-GAAP Gross Margin, Non-GAAP Operating Expenses or Adjusted EBITDA expectations for Q4 2026 described above because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. Stock-based compensation is currently expected to range from $17 million to $19 million in Q4 2026.

Conference Call Information
Rocket Lab will host a conference call for investors at 2 p.m. PT (5 p.m. ET) today to discuss these business highlights and financial results for our third quarter, other updates, and to provide our outlook for the fourth quarter 2026.

The live webcast and a replay of the webcast will be available on Rocket Lab’s Investor Relations website: https://investors.rocketlabcorp.com/

Rocket Lab Investor Relations Contact
Patrick Vorenkamp
investors@rocketlabusa.com

Rocket Lab Media Contact
Murielle Baker
media@rocketlabusa.com

About Rocket Lab
Rocket Lab (Nasdaq: RKLB) is an end-to-end space company delivering rockets, satellites, and spacecraft components for commercial, government, and defense missions. Driven by its industry-leading small-lift rockets Electron and HASTE and its upcoming reusable Neutron medium-lift rocket, Rocket Lab delivers reliable and responsive launch for the world’s most important missions from constellation deployment to missile defense. Rocket Lab’s satellites and components have powered more than 1,700 missions in Earth orbit, as well as deep-space exploration of the Moon, Mars, and beyond. Learn more at www.rocketlabcorp.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our expectations of financial results for the fourth quarter of 2026, launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development and anticipated timeline to launch, operational expansion, business strategy, our backlog, revenue momentum, and contract activity; and the anticipated benefits or impacts of our pending acquisition of Iridium Communications are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.investors.rocketlabcorp.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Use of Non-GAAP Financial Measures
We supplement the reporting of our financial information determined under Generally Accepted Accounting Principles in the United States of America (“GAAP”) with certain non-GAAP financial information. The non-GAAP financial information presented excludes certain significant items that may not be indicative of, or are unrelated to, results from our ongoing business operations. We believe that these non-GAAP measures provide investors with additional insight into the company’s ongoing business performance. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Reconciliation of the non-GAAP financial information to the corresponding GAAP measures for the historical periods disclosed are included at the end of the tables in this press release. We have not provided a reconciliation for forward-looking non-GAAP financial measures because, without unreasonable efforts, we are unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate these non-GAAP financial measures, particularly related to stock-based compensation and its related tax effects. The following definitions are provided:

Adjusted EBITDA
EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from net income or loss to determine Adjusted EBITDA. Management believes this measure provides investors meaningful insight into results from ongoing operations.

Other Non-GAAP Financial Measures

Non-GAAP gross profit, gross margin, research and development, net, selling, general and administrative, operating expenses, operating loss and total other income (expense), net, further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Such items are excluded from the applicable GAAP financial measure. Management believes these non-GAAP measures provide investors meaningful insight into results from ongoing operations.

       
ROCKET LAB CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(unaudited; in thousands, except share and per share data)
       
  Three Months Ended September 30,   Nine Months Ended September 30,
  2026   2025   2026   2025
Revenues:              
Product revenues $ 197,487     $ 104,042     $ 506,322     $ 277,571  
Service revenues   70,347       51,038       195,926       144,576  
Total revenues   267,834       155,080       702,248       422,147  
Cost of revenues:              
Cost of product revenues   133,077       72,841       331,600       188,402  
Cost of service revenues   44,686       24,925       119,508       94,796  
Total cost of revenues   177,763       97,766       451,108       283,198  
Gross profit   90,071       57,314       251,140       138,949  
Operating expenses:              
Research and development, net   98,388       70,694       261,330       191,937  
Selling, general and administrative   70,872       45,589       182,482       124,808  
Total operating expenses   169,260       116,283       443,812       316,745  
Operating loss   (79,189 )     (58,969 )     (192,672 )     (177,796 )
Other income (expense):              
Interest expense   (323 )     (7,285 )     (2,178 )     (21,470 )
Interest income   28,627       6,695       55,262       15,923  
Gain (loss) on foreign exchange   473       388       (1,325 )     (235 )
Loss on extinguishment of debt   (27,259 )     —       (27,259 )     —  
Other income (expense), net   1,497       (177 )     1,253       (675 )
Total other income (expense), net   3,015       (379 )     25,753       (6,457 )
Loss before income taxes   (76,174 )     (59,348 )     (166,919 )     (184,253 )
(Provision) benefit for income taxes   (3,503 )     41,091       (7,038 )     38,966  
Net loss $ (79,677 )   $ (18,257 )   $ (173,957 )   $ (145,287 )
Net loss per share attributable to Rocket Lab Corporation:              
Basic and diluted $ (0.12 )   $ (0.03 )   $ (0.28 )   $ (0.28 )
Weighted-average common shares outstanding:              
Basic and diluted   652,263,684       528,725,980       629,298,251       516,560,266  
                               

ROCKET LAB CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2026 AND DECEMBER 31, 2025
(unaudited; in thousands, except share and per share values)
       
  September 30, 2026   December 31, 2025
Assets      
Current assets:      
Cash and cash equivalents $ 4,447,665     $ 828,660  
Marketable securities, current   160,290       187,917  
Accounts receivable, net   118,311       39,001  
Contract assets   124,361       61,606  
Inventories   280,885       158,407  
Prepaids and other current assets   121,413       89,953  
Total current assets   5,252,925       1,365,544  
Non-current assets:      
Property, plant and equipment, net   410,083       319,473  
Intangible assets, net   307,849       224,746  
Goodwill   301,420       205,750  
Right-of-use assets – operating leases   112,449       90,371  
Right-of-use assets – finance leases   12,155       13,895  
Marketable securities, non-current   95,894       82,247  
Restricted cash   8,414       4,885  
Deferred income tax assets, net   2,009       1,895  
Other non-current assets   65,509       15,672  
Total assets $ 6,568,707     $ 2,324,478  
Liabilities and Stockholders’ Equity      
Current liabilities:      
Trade payables $ 85,150     $ 72,699  
Accrued expenses   19,285       19,299  
Employee benefits payable   45,068       25,803  
Contract liabilities   423,580       195,438  
Other current liabilities   41,035       21,237  
Total current liabilities   614,118       334,476  
Non-current liabilities:      
Convertible senior notes, net   1,289       152,395  
Long-term borrowings, net   1,716       1,716  
Non-current operating lease liabilities   102,905       85,191  
Non-current finance lease liabilities   14,374       14,653  
Deferred income tax liabilities   10,399       1,241  
Other non-current liabilities   21,336       12,952  
Total liabilities   766,137       602,624  
COMMITMENTS AND CONTINGENCIES      
Stockholders’ equity:      
Preferred stock, $0.0001 par value; authorized shares: 100,000,000; issued and outstanding shares: 40,951,250 and 45,951,250 at September 30, 2026 and December 31, 2025, respectively   4       5  
Common stock, $0.0001 par value; authorized shares: 2,500,000,000; issued shares: 680,114,963 and 589,525,802 at September 30, 2026 and December 31, 2025, respectively; outstanding shares: 639,163,713 and 543,574,552 at September 30, 2026 and December 31, 2025, respectively   64       54  
Treasury stock, at cost; shares: 40,951,250 and 45,951,250 at September 30, 2026 and December 31, 2025, respectively   —       —  
Additional paid-in capital   6,998,701       2,735,669  
Accumulated deficit   (1,185,867 )     (1,011,910 )
Accumulated other comprehensive loss   (10,332 )     (1,964 )
Total stockholders’ equity   5,802,570       1,721,854  
Total liabilities and stockholders’ equity $ 6,568,707     $ 2,324,478  
               

ROCKET LAB CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(unaudited; in thousands)
   
  For the Nine Months Ended
September 30,
  2026   2025
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (173,957 )   $ (145,287 )
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization   57,651       29,191  
Stock-based compensation expense   66,001       52,894  
(Gain) loss on disposal of assets   (369 )     2,356  
Loss on equity securities   882       —  
Loss on extinguishment of debt   27,259       —  
Lower of cost or market inventory valuation adjustments   7,462       —  
Amortization of inventory step-up   399       —  
Amortization of debt issuance costs and discount   189       2,551  
Noncash lease expense   9,863       5,975  
Change in the fair value of contingent consideration   (2,058 )     —  
Accretion of marketable securities purchased at a discount   (1,278 )     (1,599 )
Deferred income taxes   514       (33,049 )
Changes in operating assets and liabilities:      
Accounts receivable, net   (68,468 )     (19,442 )
Contract assets   (60,769 )     12,608  
Inventories   (83,731 )     (25,567 )
Prepaids and other current assets   (20,501 )     (17,455 )
Other non-current assets   (48,622 )     10,132  
Trade payables   6,892       (1,634 )
Accrued expenses   (280 )     2,671  
Employee benefits payable   11,875       43,417  
Contract liabilities   144,485       (9,187 )
Other current liabilities   9,859       (1,358 )
Non-current lease liabilities   (10,775 )     (8,269 )
Other non-current liabilities   223       62  
Net cash used in operating activities   (127,254 )     (100,990 )
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, equipment and software   (84,185 )     (106,631 )
Proceeds on disposal of assets   715       397  
Cash paid for business combinations, net of acquired cash   (44,271 )     (132,441 )
Purchases of marketable securities   (221,667 )     (187,780 )
Maturities of marketable securities   235,515       179,822  
Sale of marketable securities   —       3,383  
Net cash used in investing activities   (113,893 )     (243,250 )
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from ATM Equity Offerings   3,911,859       865,453  
Issuance costs related to ATM Equity Offerings   (36,695 )     (20,134 )
Proceeds from the exercise of stock options   1,778       2,539  
Proceeds from Employee Stock Purchase Plan   13,605       7,751  
Proceeds from sale of employees’ restricted stock units to cover taxes   190,665       80,659  
Minimum tax withholding paid on behalf of employees for restricted stock units   (189,835 )     (65,672 )
Proceeds from secured term loans   —       26,716  
Repayments on secured term loan   —       (15,103 )
Payment of debt issuance and extinguishment costs   (27,259 )     (278 )
Finance lease principal payments   (232 )     (197 )
Net cash provided by financing activities   3,863,886       881,734  
Effect of exchange rate changes on cash and cash equivalents   (205 )     (86 )
Net increase in cash and cash equivalents and restricted cash   3,622,534       537,408  
Cash and cash equivalents, and restricted cash, beginning of period   833,545       275,302  
Cash and cash equivalents, and restricted cash, end of period $ 4,456,079     $ 812,710  
               

ROCKET LAB CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(unaudited; in thousands)

The tables provided below reconcile the non-GAAP financial measures Adjusted EBITDA, Non-GAAP gross profit, Non-GAAP research and development, net, Non-GAAP selling, general and administrative, Non-GAAP operating expenses, Non-GAAP operating loss and Non-GAAP total other income (expense), net with the most directly comparable GAAP financial measures. See above for additional information on the use of these non-GAAP financial measures.

  Three Months Ended September 30,   Nine Months Ended September 30,
2026   2025   2026   2025
NET LOSS $ (79,677 )   $ (18,257 )   $ (173,957 )   $ (145,287 )
Depreciation   9,550       6,490       27,236       18,061  
Amortization   12,168       5,236       30,415       11,130  
Stock-based compensation expense   18,324       15,727       66,001       52,894  
Transaction costs   21,340       5,118       31,584       11,504  
Interest expense   323       7,285       2,178       21,470  
Interest income   (28,627 )     (6,695 )     (55,262 )     (15,923 )
Change in fair value of contingent consideration   (2,444 )     —       (2,058 )     —  
Amortization of inventory step-up   216       —       399       —  
Provision (benefit) for income taxes   3,503       (41,091 )     7,038       (38,966 )
(Gain) loss on foreign exchange   (473 )     (388 )     1,325       235  
Loss on equity securities   882       —       882       —  
Accretion of marketable securities and cash equivalents purchased at a discount   (425 )     (553 )     (1,302 )     (1,810 )
Loss (gain) on disposal of assets   34       853       (369 )     2,356  
Employee retention credit   —       —       —       515  
Loss on extinguishment of debt   27,259       —       27,259       —  
ADJUSTED EBITDA $ (18,047 )   $ (26,275 )   $ (38,631 )   $ (83,821 )
                               

  Three Months Ended September 30,   Nine Months Ended September 30,
2026   2025   2026   2025
GAAP Gross profit $ 90,071     $ 57,314     $ 251,140     $ 138,949  
Stock-based compensation   4,773       3,539       13,369       12,351  
Amortization of purchased intangibles and favorable lease   7,692       4,126       20,970       7,772  
Amortization of inventory step-up   216       —       399       —  
Employee retention credit   —       —       —       278  
Non-GAAP Gross profit $ 102,752     $ 64,979     $ 285,878     $ 159,350  
Non-GAAP Gross margin   38.4 %     41.9 %     40.7 %     37.7 %
               
GAAP Research and development, net $ 98,388     $ 70,694     $ 261,330     $ 191,937  
Stock-based compensation   (5,645 )     (5,588 )     (18,425 )     (16,055 )
Amortization of purchased intangibles and favorable lease   —       —       —       (329 )
Employee retention credit   —       —       —       (88 )
Non-GAAP Research and development, net $ 92,743     $ 65,106     $ 242,905     $ 175,465  
               
GAAP Selling, general and administrative $ 70,872     $ 45,589     $ 182,482     $ 124,808  
Stock-based compensation   (7,906 )     (6,600 )     (34,207 )     (24,488 )
Amortization of purchased intangibles and favorable lease   (4,192 )     (846 )     (8,599 )     (2,250 )
Transaction costs   (21,340 )     (5,118 )     (31,584 )     (11,504 )
Employee retention credit   —       —       —       (149 )
Non-GAAP Selling, general and administrative $ 37,434     $ 33,025     $ 108,092     $ 86,417  
               
GAAP Operating expenses $ 169,260     $ 116,283     $ 443,812     $ 316,745  
Stock-based compensation   (13,551 )     (12,188 )     (52,632 )     (40,543 )
Amortization of purchased intangibles and favorable lease   (4,192 )     (846 )     (8,599 )     (2,579 )
Transaction costs   (21,340 )     (5,118 )     (31,584 )     (11,504 )
Employee retention credit   —       —       —       (237 )
Non-GAAP Operating expenses $ 130,177     $ 98,131     $ 350,997     $ 261,882  
               
GAAP Operating loss $ (79,189 )   $ (58,969 )   $ (192,672 )   $ (177,796 )
Total non-GAAP adjustments   51,764       25,817       127,553       75,264  
Non-GAAP Operating loss $ (27,425 )   $ (33,152 )   $ (65,119 )   $ (102,532 )
               
GAAP Total other income (expense), net $ 3,015     $ (379 )   $ 25,753     $ (6,457 )
(Gain) loss on foreign exchange   (473 )     (388 )     1,325       235  
Loss on equity securities   882       —       882       —  
Loss (gain) on disposal of assets   34       853       (369 )     2,356  
Loss on extinguishment of debt   27,259       —       27,259       —  
Change in fair value of contingent consideration   (2,444 )     —       (2,058 )     —  
Non-GAAP Total other income (expense), net $ 28,273     $ 86     $ 52,792     $ (3,866 )
                               

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/854ada2d-ce93-4a65-9f61-1900c14910d4


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