Rocket Lab reported Q3 2025 revenue of $155 million, a 48% increase year-over-year. The company secured an $816 million U.S. Space Development Agency contract to produce 18 satellites. This agreement adds $200 million in annual revenue over a four-year period.
The total backlog reached $1 billion following a 56% year-over-year increase in launch services. Electron remains the most frequently launched small orbital rocket after SpaceX. Rocket Lab maintained a 31.7% gross margin during the quarter.
A Stage 1 tank rupture during January hydrostatic pressure testing delayed the Neutron rocket program. The company now schedules the Neutron debut for the first half of 2026. Investors focused on the core Electron business as a sustainable growth foundation despite the Neutron timeline shift.