Rocket Lab USA Inc (NASDAQ:RKLB) stock rose 6.51% (As on Nov 16, 11:16:29 AM UTC-4, Source: Google Finance) after the company in the third quarter of FY 21 has reported the revenue above high end of prior guidance range at $5.3 million. The backlog has increased from $141 million at June 30, 2021 to $183 million as of September 30, 2021, and currently stands at $237 million as of November 15, 2021. Space Systems revenue in the third quarter 2021 grew 360% over the same quarterly period in 2020 to represent 27% of total revenue for the nine months ended September 30, 2021. The company has successfully completed the merger with Vector Acquisition Corporation resulting in ending cash balance at September 30, 2021 of $792.7 million.

Meanwhile, the company has signed a definitive agreement to acquire Planetary Systems Corporation (PSC), a Maryland-based spacecraft separation systems company, for $42 million in cash and 1,720,841 shares of the Company’s common stock, plus the potential for an additional 956,023 shares of common stock for a performance earnout based on PSC’s CY 2022 and 2023 financial results. The acquisition is expected to close in the fourth quarter of 2021. The acquisition will enable Rocket Lab to leverage PSC’s strong brand and quality product offering of lightweight, cost-effective, and flight proven hardware across its vertically integrated Space Systems division of Photon satellite buses and spacecraft components solutions. The deal also enables PSC to make use of Rocket Lab’s resources and manufacturing capability to grow their already-strong commercial hardware trade. PSC is the latest addition to the Space Systems portfolio after recent acquisitions of Advanced Solutions, Inc (ASI) in October 2021 and Sinclair Interplanetary in April 2020, and further strengthens Rocket Lab’s end-to-end space offering across the full launch and satellite spectrum.

In addition, Since September 30, 2021 the company has acquired Colorado-based space software company Advanced Solutions, Inc. which delivers mission proven space software, mission simulation and test systems, and Guidance, Navigation, and Control (GNC) solutions.

For the fourth quarter of 2021, the company expects revenue to range between $23 million to $25 million, GAAP and non-GAAP gross margins is expected to be of 13 percent and 27 percent, respectively, GAAP and non-GAAP operating expenses to be between $24 million to $26 million, and $19 million to $21 million, respectively and GAAP Net Loss between $24 million and $26 million, and Adjusted EBITDA loss of $9 million to $11 million.