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November 10, 2023

A Celestial Dance Fully Booked for Next Year, Preparing for a November-End Encore

In a stellar third quarter, the company raked in a whopping $68 million in revenue, rewriting the rules of space tech

Rocket Lab isn't just about rockets; it's a celestial symphony of space systems and launches. In Q3, the company hit a crescendo, reporting a harmonious $68 million in revenue, with the cosmic melody led by its space systems division, contributing $46.3 million—a 17% YoY surge. The highlight was a celestial contract with MDA, invoicing two milestones worth $143 million. Beyond rockets, Rocket Lab's space systems business orchestrates satellite components, entire spacecraft, and the Photon satellite bus, dazzling customers like Varda Space and NASA.

While the launch cadence danced smoothly with two successful back-to-back recovery missions, a mid-flight anomaly in September brought a temporary pause. Yet, with FAA approval to resume Electron launches, Rocket Lab gears up for a celestial encore on November 28. The anomaly, a fleeting 1.6-second disruption, revealed an electrical arc, a celestial hiccup that led to a quarterly net loss of $40.6 million.

The future is ablaze with 22 Electron missions planned for 2024, featuring recoveries and suborbital hypersonic marvels. Neutron, Rocket Lab's medium-lift vehicle, takes center stage with completed tank tests and the fiery combustion of Archimedes, its colossal rocket engine. As the cosmic curtains close on Q3, Rocket Lab sets sights on a stellar Q4, anticipating revenues between $65 million and $69 million, forecasting a celestial crescendo into 2024 with revenues reaching $95 million to $105 million.

Rocket Lab's journey transcends rocketry; it's a cosmic composition, with each launch and system note adding to the celestial symphony, echoing in the vast expanse of space.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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