Key Highlights

  • Rocket Lab (NASDAQ:RKLB) gained 6.54% on November 10, 2026, as record Revenue of USD 267.8 million came with a Backlog that jumped 52% in one quarter to USD 3.57 billion.
  • SpaceX slipped 1.41% to USD 141.07 on November 11, roughly 37% under its June peak, with Starship Flight 15 aimed for November 13.
  • Satellogic lifted revenue 342% to USD 16.0 million and reached positive adjusted EBITDA, whereas AST SpaceMobile saw its adjusted EBITDA loss deepen to about USD 91.2 million.
  • Spire Global dropped about 12% in after-hours trading on November 10 once it tightened its 2026 revenue range.

1. Rocket Lab (NASDAQ:RKLB)

Backlog is the headline at Rocket Lab (NASDAQ:RKLB), which now stands at USD 3.57 billion versus USD 2.36 billion in June. Launch backlog nearly doubled to USD 1.85 billion because eight Neutron flights, worth more than USD 515 million, were sold after the base price moved up to USD 70 million. Third-quarter revenue climbed 73% to a record USD 267.8 million, beating the USD 250 million to USD 265 million range the company had given. Space Systems grew 88% to USD 214.8 million, while Launch Services added 30% to USD 53.1 million. The shares closed 6.54% higher on November 10 after sliding about 6.7% early on, even as the Nasdaq lost 0.74%. Cash is USD 4.45 billion, and Operating Cash Flow turned positive for the first time in five quarters. Against that, the net loss grew to USD 79.7 million, which includes a USD 27.3 million charge tied to retiring debt, and the first Neutron flight has moved to 2027. Only about 33% of backlog converts within a year, compared with 45% in June, since contracts run longer. Guidance for the fourth quarter is USD 270 million to USD 290 million. More Neutron delays would push out revenue and lift development costs.

2. SpaceX (NASDAQ:SPCX)

Starship Flight 15, targeted for November 13, is the near-term event for SpaceX (NASDAQ:SPCX). The plan is to bring the Super Heavy booster and the Ship upper stage back to the tower and catch each one. The booster has been caught previously, but the Ship never has, so success would mark the first full recovery of an orbital launch system and help cut cost per kilogram to orbit. A miss would not end the programme because testing is iterative, though it could delay paid Starship missions. Shares fell 1.41% to USD 141.07 in early trading on November 11. That sits about 37% beneath the USD 225.64 record from June 16, set four days after the June 12 debut at USD 135, and about 4.5% over the listing price. The drop reflects a reset in richly valued, AI-linked growth names, 10-year Treasury yields near 5% and a cooling after the debut rally. Most revenue comes from satellite internet, with government work, NASA lunar contracts among it, adding further support. Less is disclosed about its contracted base than for peers, and the stock trades closely on launch results.

3. Satellogic (NASDAQ:SATL)

Satellogic (NASDAQ:SATL) posted third-quarter revenue of USD 16.0 million on November 10, a record, versus USD 3.6 million a year ago (up 342%) and far ahead of the roughly USD 12.6 million consensus. Of that, USD 9.5 million came from Space Systems, linked to handing over a second satellite to a Portuguese space agency partner, and USD 6.6 million from Data and Analytics, more than twice the prior-year level. Adjusted EBITDA swung to about USD 1.2 million positive from a loss near USD 4.9 million, with cash of USD 106.5 million. Diluted Earnings of USD 0.14 per share benefited from a USD 30.0 million non-cash gain, so adjusted EBITDA gives a cleaner read. Since quarter end, the company agreed to sell three satellites already in orbit for about USD 37 million. Its first Merlin satellite went up on October 1, and Merlin service revenue is slated for the second half of 2027. No formal guidance was provided. Elsewhere in launch, Firefly Aerospace reported a record backlog of about USD 1.7 billion plus a multi-launch deal with Synspective covering up to 10 Alpha missions through 2030, although those Firefly numbers came from a digest and need checking. Recurring Revenue is growing, yet satellite sales stay uneven.

4. AST SpaceMobile (NASDAQ:ASTS)

For AST SpaceMobile (NASDAQ:ASTS), launches decide the story. Satellites BlueBird 11 to 13 are in orbit, 14 to 16 wait for a launch date at Cape Canaveral, and the company is aiming for about 45 satellites aloft by mid-2027 with output of six a month beginning in December. Third-quarter revenue reached USD 42.3 million, 34% above the previous quarter and up from USD 14.7 million a year earlier, mostly from engineering services and government work, since commercial service has not yet started at scale. Spending is climbing fast: operating expenses were USD 211.0 million, compared with USD 94.4 million a year ago. The adjusted EBITDA loss of about USD 91.2 million exceeded the roughly USD 79.5 million that was anticipated, and the net loss was USD 132.4 million. Cash and restricted cash total about USD 3.2 billion, set against long-term Debt near USD 4.1 billion. Full-year revenue guidance of USD 150 million to USD 200 million stays in place, and it holds 16 US government awards. A Japanese programme should Supply roughly USD 1.0 billion of non-dilutive funding, though none has arrived. Viasat landed a Space Force contract with a USD 450 million ceiling, a sign of Demand for commercial satellite services. For now, little of AST's revenue is contracted at scale.

5. Spire Global (NYSE:SPIR)

Spire Global (NYSE:SPIR) sells data gathered by small satellites to government and commercial clients, and its stock fell about 12% in after-hours trading on November 10. Revenue for the third quarter grew 42% to about USD 18.0 million, short of forecasts. The 2026 revenue range tightened to USD 75 million to USD 80 million, putting the midpoint under the roughly USD 80 million consensus, and the adjusted EBITDA loss range of USD 27.4 million to USD 32.4 million came in wider than hoped. The contracted side is where Spire looks best. Remaining performance obligations total USD 175.4 million, NOAA awards of USD 33.2 million and USD 28 million were won, and an early 2027 revenue range of USD 96 million to USD 106 million points to growth of roughly 25% to 35%. Gross Margin rose to 46% from 37%, and the company holds USD 78.0 million in cash and securities with no debt. Small space firms often miss quarterly targets because government timing is uneven. A US government funding resolution in the coming weeks also matters, as federal agencies are key customers. Contracts are sizeable for a company this small, but the near-term outlook is the weakest of the five.

Where Things Stand

Rocket Lab leads the top 5 space stocks on contracted revenue, with a record USD 3.57 billion backlog, USD 4.45 billion in cash and eight fresh Neutron launch contracts, although the shift of Neutron to 2027 is its main risk. Spire holds a sizeable contracted base for its scale, Satellogic has moved to positive EBITDA, AST SpaceMobile keeps scaling with heavy losses, and SpaceX trades mostly on the November 13 Starship flight. Higher Treasury yields pressure every one of these long-duration growth names, a theme Canadian investors should keep in mind.