FANG+・AI・宇宙株投資｜Rocket Lab スペースＸ🚀 IONQ

$RKLB just posted their first-ever quarter of positive operating cash flow! 🚀 It is is significant milestone for the company. Yet, stock is down now 7% after earnings. 🔴 They also reported a heavy revenue beat and an EPS miss due to several massive, mostly one-time or non-cash charges. On top of that Rocket Lab reported a record $3.6B backlog. Total backlog surged 52% sequentially, adding $1.2 billion in a single quarter. Neutron is officially pushed to no earlier than 2027. However, despite the timeline shift, they secured over $515 million in new Neutron contracts (bringing the backlog to 16 missions) and successfully leveraged tightening industry capacity to raise the base launch price to $70 million. Iridium buyout is fully funded via ATM equity, to be clear the ATM is already completed. They successfully maintained Iridium’s credit facility, and secured overwhelming shareholder approval to close the deal. Management expects Q4 non-GAAP gross margins to hit 39% to 41%. This confirms the hardware margin mix thesis, demonstrating they can structurally expand profitability as Space Systems and component manufacturing volumes scale. Rocket Lab added massive volume across Electron, HASTE, and Neutron in Q3 alone, bringing their total launch backlog to a record 117 missions. This robust contract flow secures the immediate financial bridge needed to offset ongoing Neutron R&D. Only positives for me, honestly don't know why the stock is being punished for these results.