Intuitive Machines, Inc. Q2 2026 Earnings Recap

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.