Rocket Lab USA Inc (NASDAQ:RKLB) shares spiked over 25% in pre-market trading after the space firm posted expectation-beating earnings and unveiled a first deal for its Neutron rocket.
Revenue climbed 55% to US$105 million over the third quarter, the firm said on Tuesday, surpassing expectations for US$102 million.
Losses increased from US$40.6 million to US$51.9 million, or US$0.10 on a per share basis and below analysts’ anticipations for US$0.11.
A first launch deal for the company’s Neutron rocket was also announced with a confidential commercial satellite constellation operator.
Rocket Lab said this marked “the beginning of a productive collaboration that could see Neutron deploy the entire constellation”.
Chief executive Peter Beck added 2024 had also already been a record year for launches following 12 missions using the company’s Electron rocket.
“We expect to close out the year strongly with more Electron launches scheduled in November and December, alongside continued progress across Neutron and space systems,” he said.
“That is behind our guidance for a record US$125 to US$135 million revenue quarter in [the fourth quarter].”
Shares surged 25.44% to US$18.39 ahead of Wednesday’s opening bell.