Rocket Lab (RKLB) Q3 FY2026 earnings: revenue $268 million, up 72.7% on the year

Rocket Lab Corp. (RKLB) reported revenue of $268 million for Q3 FY2026, the quarter ended 30 September 2026, up 72.7% on the same quarter a year earlier. Net income was -$80 million, and diluted earnings per share $-0.12. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue

$268 million

+72.7% on the year · +14.4% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-29.6%

-38.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$80 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.12

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 9 new.

Record revenue, up 73% year-on-year: Revenue was $267.8 million, a company record, up 73% from a year earlier and $34 million above the second quarter. Product and service revenue both rose from the prior year.
Operating cash flow turned positive: The company reported positive GAAP operating cash flow of $7.2 million for the quarter. For the nine months, operating cash use was $127.3 million.
Backlog reached about $3.6 billion: Backlog was approximately $3.6 billion, up 52% from the end of the second quarter, when it was $2.36 billion.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	268	234	155	+14.4%	+72.7%
Cost of revenue	178	149	97.8	+18.9%	+81.8%
Gross profit	90.1	84.6	57.3	+6.5%	+57.2%
Gross margin	33.6%	36.1%	37.0%
Research and development	98.4	82.4	70.7	+19.4%	+39.2%
Selling, general and administrative	70.9	59.7	45.6	+18.8%	+55.5%
Operating income	-79.2	-57.5	-59.0
Operating margin	-29.6%	-24.6%	-38.0%
Interest expense	0.3	0.6	7.3	-44.4%	-95.6%
Pre-tax income	-76.2	-43.9	-59.3
Income tax	3.5	5.3	-41.1	-34.2%
Net income	-79.7	-49.3	-18.3
Net margin	-29.7%	-21.0%	-11.8%
Diluted EPS	-$0.12	-$0.08	-$0.03

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	7.2	-84.1	-23.5
Capital expenditure	31.1	26.0	45.9	+19.3%	-32.3%
Free cash flow	-23.9	-110	-69.4
Free cash flow margin	-8.9%	-47.0%	-44.8%
Cash from investing	-29.3	-48.9	-207
Cash from financing	2,340	1,060	476	+120.8%	+392.0%
Depreciation and amortisation	21.5	19.4	11.6	+10.9%	+85.6%
Share-based compensation	18.3	19.6	15.7	-6.3%	+16.5%
Diluted shares, weighted	652m	630m	529m	+3.6%	+23.4%
Shares outstanding at period end	639m	598m	496m	+6.9%	+28.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	5,803	3,492	1,281	+66.2%	+353.0%
Debt	3.0	14.8	415	-79.8%	-99.3%
Operating lease liabilities	103	104	86.5	-1.4%	+19.0%
Finance lease liabilities	14.4	14.5	14.7	-0.6%	-2.5%
Other liabilities	646	562	424	+15.0%	+52.4%
Total liabilities and equity	6,569	4,187	2,221	+56.9%	+195.7%
Fixed assets	410	394	278	+4.1%	+47.5%
Goodwill	301	299	218	+0.8%	+38.5%
Intangible assets	308	320	232	-3.9%	+32.7%
Investments	256	258	215	-0.7%	+19.1%
Cash and equivalents	4,448	2,129	808	+108.9%	+450.5%
Receivables	118	113	59.1	+4.8%	+100.2%
Inventory	281	267	145	+5.2%	+93.7%
Other assets	446	407	267	+9.8%	+67.4%
Total assets	6,569	4,187	2,221	+56.9%	+195.7%

Questions

What was Rocket Lab's revenue in Q3 FY2026?

Rocket Lab (RKLB) reported revenue of $268 million for Q3 FY2026, the quarter ended 30 September 2026, up 72.7% on the same quarter a year earlier.

How much did Rocket Lab earn in Q3 FY2026?

Net loss for Q3 FY2026 was $80 million, and the diluted loss per share $0.12.

When did Rocket Lab report Q3 FY2026 results?

Rocket Lab filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	27.5	40.7	55.5	63.1	51.8	54.9	62.0	67.7	60.0	92.8	106	105	132	123	144	155	180	200	234	268
Cost of revenue	20.8	37.0	50.5	54.6	49.9	48.5	47.5	52.7	44.5	68.6	79.1	76.8	95.6	87.3	98.1	97.8	111	124	149	178
Gross profit	6.7	3.7	5.0	8.5	1.8	6.4	14.6	15.0	15.5	24.2	27.2	28.0	36.8	35.2	46.4	57.3	68.2	76.5	84.6	90.1
Gross margin	24%	9%	9%	13%	4%	12%	24%	22%	26%	26%	26%	27%	28%	29%	32%	37%	38%	38%	36%	34%
R&D	12.0	13.5	19.2	17.5	15.0	23.9	31.0	26.6	37.5	38.5	39.9	47.7	48.3	55.1	66.1	70.7	78.8	80.5	82.4	98.4
SG&A	19.0	23.1	19.0	23.0	24.0	28.5	28.7	27.2	25.9	28.7	30.5	32.2	40.1	39.3	39.9	45.6	40.5	51.9	59.7	70.9
Operating income	-24.3	-32.8	-33.2	-32.0	-37.2	-46.0	-45.2	-38.9	-47.9	-43.1	-43.3	-51.9	-51.5	-59.2	-59.6	-59.0	-51.0	-56.0	-57.5	-79.2
Operating margin	-89%	-81%	-60%	-51%	-72%	-84%	-73%	-57%	-80%	-46%	-41%	-50%	-39%	-48%	-41%	-38%	-28%	-28%	-25%	-30%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	6.8	7.4	7.3	5.0	1.3	0.6	0.3
Pre-tax income	-3.3	-22.3	-39.5	-32.9	-38.2	-45.1	-45.1	-39.2	-49.5	-44.3	-42.5	-51.0	-51.7	-61.4	-63.5	-59.3	-41.6	-46.8	-43.9	-76.2
Net income	3.2	-26.7	-37.4	-34.6	-37.2	-45.6	-45.9	-40.6	-50.5	-44.3	-41.6	-51.9	-52.3	-60.6	-66.4	-18.3	-52.9	-45.0	-49.3	-79.7
Net margin	12%	-66%	-67%	-55%	-72%	-83%	-74%	-60%	-84%	-48%	-39%	-50%	-40%	-49%	-46%	-12%	-29%	-22%	-21%	-30%
Diluted EPS	n/a	-$0.06	-$0.08	-$0.07	-$0.08	-$0.10	-$0.10	-$0.08	-$0.10	-$0.09	-$0.08	-$0.10	-$0.10	-$0.12	-$0.13	-$0.03	-$0.09	-$0.07	-$0.08	-$0.12
Operating cash flow	-21.9	-26.3	-38.3	-23.0	-18.9	-25.4	-6.1	-25.2	-42.2	-2.6	-13.0	-30.9	-2.4	-54.2	-23.2	-23.5	-64.5	-50.3	-84.1	7.2
Capital expenditure	14.3	6.2	12.8	8.3	15.0	12.7	10.6	21.0	10.4	19.2	15.3	11.0	21.6	28.7	32.0	45.9	49.7	27.1	26.0	31.1
Free cash flow	-36.2	-32.6	-51.1	-31.3	-33.9	-38.1	-16.6	-46.2	-52.6	-21.8	-28.3	-41.9	-23.9	-82.9	-55.3	-69.4	-114	-77.4	-110	-23.9
Shares outstanding	450m	463m	450m	450m	475m	478m	483m	486m	489m	493m	497m	500m	504m	461m	479m	496m	544m	576m	598m	639m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.