Intuitive Machines, Inc. Earnings Recaps
Q2 2026
Aug 16, 2026
The stock surged 12.2% post-earnings, driven by record-high bookings, expanded diversification across civil, commercial, and national security segments, and a robust backlog that supports confident full-year revenue and adjusted EBITDA guidance.
Key takeaways
- Reported Q2 revenue of $206 million, more than quadrupling the prior year’s figure.
- Backlog increased to approximately $1.8 billion, with over 80 spacecraft under contract spanning civil (37%), commercial (49%), and national security (14%) segments.
- Generated $1.2 billion in new bookings in Q2 alone, marking the highest quarterly bookings in company history; total bookings this year reached $1.7 billion.
- Management reaffirmed full-year revenue guidance of $900 million to $1 billion and expects positive adjusted EBITDA for 2026.
- Strategic acquisitions (Lanteris, KinetX, Goonhilly Earth Station, and COMSAT) expanded capabilities from spacecraft manufacturing to mission operations and ground segment communications, broadening the addressable market to over $150 billion.
Q3 2025
Nov 5, 2025
Intuitive Machines reported Q3 revenue of $52.4 million while announcing its strategic acquisition of Lanteris Space Systems for $800 million, positioning itself as a competitive next-generation space prime provider.
Key takeaways
- Revenue boosted primarily by ongoing projects including OMES, CLPS, and NSNS, with improved gross margin of $5.7 million.
- Acquisition of Lanteris enhances production scale and reliability, aiming to capture growth across national security, civil, and commercial space sectors.
- Company backlog stands at $235.9 million, reflecting ongoing contract momentum despite uncertainties in government funding.
- Adjusted EBITDA loss narrowed to $13.2 million, an improvement of $12.2 million from the previous quarter, highlighting operational efficiency gains.