Shares of Rocket Lab jumped after the company logged higher-than-expected revenue for the third quarter and its fourth-quarter outlook beat analysts expectations.
The stock was up 24.49% to $18.25 in postmarket trading. Through Tuesday's close, shares have more than tripled over the past 12 months.
The aerospace company posted a net third-quarter net loss of $51.9 million, or 10 cents a share, compared with a loss of $40.6 million, or 8 cents a share, for the same period a year earlier.
Total operating expenses rose 48% to $79.9 million, the company said.
Revenue surged 55% to $104.8 million, as Rocket Lab continued to see strong demand with a backlog of $1.05 billion, according to Chief Executive Peter Beck.
Wall Street had expected lower quarterly revenue of $102.3 million, and the company had guided for a topline performance of $100 million to $105 million.
For the fourth quarter, Rocket Lab said it forecasts revenue of $125 million to $135 million, ahead of the $121.9 million expected by analysts, according to FactSet.
