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Is it bad that I'm not graduating on time?
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Don't worry about this at all, this is actually a great opportunity.
You have a full year where you are a very competitive intern/research applicant because most of your schooling is behind you.
Not only that, but you can probably take an internship in the spring or fall semester when everyone else is in school. You can get some really primo internships. University of Waterloo is a school you probably never heard of but you find their students in all the big tech companies in the spring and fall because the school pushes them to take a semester off(I think). It's a great strategy.