Rocket Lab has reported record quarterly revenue of $267.8 million for the three months to 30 September, up 73% on the same period last year, as demand for its launch services and spacecraft kept growing. The result, released after the market closed on Monday, marked the company's sixth consecutive record quarter.

Revenue beat both the company's own guidance of $250 million to $265 million and the roughly $257 million analysts had expected. The space company also lifted its order backlog by 52% in a single quarter to $3.57 billion, after signing about $1 billion of new launch contracts and $470 million of space systems work in the period.

Loss widens despite record sales

The headline numbers came with a weaker bottom line. Rocket Lab reported a loss of 12 cents a share, wider than the loss of about 7 cents analysts had forecast, and a net loss of $79.7 million. The company said the loss reflected a $27.3 million debt settlement charge and $21.3 million of costs linked to its purchase of satellite operator Iridium.

Operating cash flow turned positive at $7.2 million, and the company ended the quarter with about $4.7 billion of liquidity after completing a share offering during the period.

Neutron contracts build before first flight

The most closely watched part of the update was Neutron, Rocket Lab's larger reusable rocket. The company signed more than $515 million of Neutron launch contracts with satellite constellation operators during the quarter, taking the rocket's backlog to 16 missions before it has ever flown. It also raised Neutron's base launch price to $70 million for several of the new deals.

But the first flight has slipped again. Rocket Lab said tiny void defects were found between the carbon fibre layers in the forward dome of the first stage propellant tank, and the debut is now targeted for no earlier than 2027. Founder and chief executive Peter Beck told investors the replacement dome was being built and tested, and that he would rather show real progress than give a date that might later have to be pulled.

Backlog now covers 117 launches

Across its Electron, HASTE and Neutron vehicles, Rocket Lab's launch backlog now stands at 117 missions. Its space systems division, which builds satellites and spacecraft components, generated $214.8 million of revenue in the quarter and holds $1.7 billion of backlog, with more than 55 spacecraft in development or production.

For the fourth quarter, the company forecast revenue of $270 million to $290 million, with a gross margin of 34% to 36%. Shares rose sharply on Monday ahead of the results, closing at $58.86.