Rocket Lab Q3 Loss Widens

(RTTNews) - Rocket Lab Corporation (RKLB), a provider of launch services and space systems, on Monday reported a wider loss for the third as higher costs offset revenue growth across its launch and space systems businesses.

Net loss attributable to Rocket Lab widened to $79.7 million, or $0.12 per share, from $18.3 million, or $0.03 per share, a year earlier. The latest quarter included a $27.3 million loss on extinguishment of debt and higher operating expenses.

Revenue surged 73% to a record $267.8 million from $155.1 million. Product revenue increased to $197.5 million from $104 million, while service revenue rose to $70.3 million from $51 million.

Rocket Lab expects fourth-quarter revenue of $270 million to $290 million and an adjusted EBITDA loss of $14 million to $20 million.