Rocket Lab (RKLB, Financial) experienced a significant surge of over 36%, reaching an all-time high of $20.05. This rise was fueled by the company's impressive third-quarter financial results, which exceeded expectations. Revenue for the quarter reached $105 million, marking a 55% year-over-year increase. Additionally, the net loss was $51.939 million, which was better than anticipated.
Looking ahead, Rocket Lab forecasted its fourth-quarter revenue to be between $125 million and $135 million, surpassing analysts' prediction of $122 million.
In a strategic move, Rocket Lab signed a multi-launch service agreement for the Neutron rocket with a commercial satellite constellation operator. The company also secured a federal defense contract valued at up to $8 million.
