Rocket Lab USA(US:RKLB)2024-11-12 22:18Q3 2024 Highlights - Rocket Lab achieved $105 million in third quarter revenue, a 55% year-over-year increase[10] - The company's backlog as of Q3 2024 reached $1048 billion, representing 80% year-over-year growth[10] - Rocket Lab anticipates revenue between $125 million and $135 million for Q4 2024[10] Electron Launch Vehicle - Electron's average sale price has increased by 67% since its debut in 2017, from $5 million to $84 million[11] - Rocket Lab signed $55 million in new launch contracts in Q3 2024[7, 12] - Electron is the world's third most frequently launched rocket globally in 2024[11, 13] Neutron Launch Vehicle - Rocket Lab has signed a launch agreement with a commercial constellation operator for Neutron launches from Launch Complex 3 in Virginia[16] - Two dedicated Neutron launches are booked for 2026 and 2027[17] - The Space Force's NSSL Lane 1 program is projected at $56 billion over five years[19] Space Systems - Rocket Lab was selected by NASA to conduct a study into retrieving samples from Mars[9, 32] - The company has over $720 million in spacecraft programs in production and development[40] - Rocket Lab has a $515 million prime contract with the SDA to build 18 spacecraft[43] Financial Outlook - Q3 2024 GAAP gross margin was 267% and Non-GAAP gross margin was 313%[48] - The company expects GAAP gross margin to range between 26% and 28% for Q4 2024[59] - Rocket Lab anticipates GAAP operating expenses of $84 million to $86 million and Non-GAAP operating expenses of $75 million to $77 million for Q4 2024[59, 60] - The adjusted EBITDA loss is expected to be $27 million to $29 million for Q4 2024[61]