Rocket Lab reports $3.57 billion backlog as quarterly revenue rises 72.7%

Rocket Lab reported a $3.57 billion order backlog alongside third-quarter revenue of $267.8 million, up 72.7% from a year earlier. CEO Peter Beck said new launch contracts signed during the quarter accounted for nearly $1 billion of the backlog, with another $470 million signed for Space Systems. The company supplies launches, spacecraft and components, allowing it to serve multiple parts of a single mission. It forecast fourth-quarter revenue of $280 million at the midpoint. Growth continued to come with losses: its third-quarter GAAP loss was $0.12 per share, compared with $0.03 per share a year earlier.