Intuitive Machines Inc Stock Price, News & Analysis

Intuitive Machines (Nasdaq: LUNR) reported strong Q2 2024 financial results, with revenue reaching $41.4 million, up 130% year-over-year. The company raised its full-year 2024 revenue outlook to $210 - $240 million, representing 2.6x - 3x growth from the prior year. Key highlights include:

- Year-to-date revenue of $114.5 million, surpassing all of 2023
- Q2 ending cash balance of $31.6 million, expected to fund operations for the next 12 months
- Zero debt on the balance sheet after paying down $5 million in Q2
- Continued progress on mission two, with expected shipment of the completed lander to the launch site in Q4
- Signed $18 million in commercial rideshare delivery services since Q1
- Submitted letter of interest to commercialize NASA's VIPER rover system

The company's strong performance and operational excellence have positioned it for continued growth in the space exploration and services sector.

SEOPS and Intuitive Machines (Nasdaq: LUNR) have partnered to provide new lunar rideshare services. The agreement enables SEOPS to expand its offerings beyond Low Earth Orbit (LEO) to include destinations like geostationary transfer orbit, the Moon's surface, and various Lagrange points starting after 2025. Intuitive Machines will provide rideshare delivery services, leveraging its lunar exploration missions and commercial asset delivery capabilities.

This partnership allows SEOPS to extend its integration, deployment, and orbital transfer vehicle solutions to a wider range of orbital destinations. The collaboration aims to satisfy growing market demand for lunar missions from both government and commercial customers. SEOPS brings expertise from over 400 satellite deployments and management of 16 rideshare launches, including missions for the U.S. Space Force, NRO, and NASA.

Intuitive Machines (Nasdaq: LUNR) has announced its plans to release second quarter 2024 financial results on Tuesday, August 13, 2024, before the market opens. The company will host a conference call at 8:30 am ET on the same day to discuss the results. Interested participants can register for the call and will receive dial-in information and a PIN. A webcast replay will be available on the company's investor relations website. The earnings release will be accessible on the Investor Relations website prior to the conference call.

Intuitive Machines (Nasdaq: LUNR) has finalized the landing site for its sold-out IM-2 lunar prospecting mission, scheduled for late 2024. The chosen location is a 200-meter diameter elliptical region on the Shackleton Connecting Ridge at the Moon's south pole, selected in collaboration with NASA. This site offers favorable conditions for water ice prospecting, terrain suitability, Earth communications, and solar power generation.

The mission timing is set between November 2024 and January 2025 to align with optimal solar power conditions. CEO Steve Altemus emphasized the importance of this commercial and civil government mission in validating their approach to supporting a deep space economy. Intuitive Machines has $3+ billion in upcoming award decisions across various space-related services.

Intuitive Machines (Nasdaq: LUNR) has achieved a significant milestone in its lunar exploration program by qualifying the VR900 engine for its IM-2 lunar mission. This advancement also propels the development of the Company's larger VR3500 engine for cargo-class landers. Key highlights include:

- Successful full-duration hot-fire test of the IM-2 VR900 engine
- Application of design modifications to the larger engine system
- Utilization of environmentally friendly LOx/LCH4 propellant
- Validation of the propulsion system through deep space ignition on IM-1 mission
- Ongoing $30 million Lunar Terrain Vehicle Services Feasibility Assessment
- Potential for $1+ billion contract down select in mid-2025
- Previous successful test-firing of VR3500 cargo class lander engine

Intuitive Machines, a prominent space exploration, infrastructure, and services company, has been honored by the City of Houston with July 20, 2024, designated as 'Intuitive Machines Day' to celebrate their successful IM-1 lunar landing on February 22, 2024. This event marks the first U.S. lunar landing since 1972.

Additionally, Jack Fischer, Intuitive Machines' Vice President of Production, Operations, and Infrastructure, has been appointed to the Texas Aerospace Research and Space Economy Consortium (TARSEC) executive committee. Fischer will assist the Texas Space Commission in promoting commercial space activities and economic development in Texas. The Texas legislature has allocated $350 million to the Texas Space Commission, with a significant portion directed to the Space Exploration and Aeronautics Research Fund.

Intuitive Machines is proud to represent Houston, Texas, and the United States as it advances space exploration and the cislunar economy.

Intuitive Machines (Nasdaq: LUNR, LUNRW) has been named to TIME’s list of the 100 Most Influential Companies for 2024. This recognition follows their successful moon mission on February 22, 2024, marking the first U.S. lunar landing in over 50 years. Intuitive Machines delivered both commercial and NASA payloads to the Moon's far south, achieving a milestone in space exploration. CEO Steve Altemus highlighted the company's role in making lunar access more affordable and technologically advanced. The TIME100 list features companies evaluated for impact, innovation, ambition, and success.

Intuitive Machines (Nasdaq: LUNR) reported record revenues of $73.1 million for Q1 2024, a 300% increase year-over-year. The company achieved significant milestones, including a historic lunar landing on February 22, 2024, and received $30 million for NASA's Lunar Terrain Vehicle contract. Positive gross margin momentum was sustained with $12.2 million driven by IM-1 mission success. Operating loss decreased to $5.4 million from $14 million last year, and the cash balance ended at $55.2 million. The company projects 2024 revenue between $200-240 million, bolstered by a backlog of $222.4 million as of Q1's end.

Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) announced the release of its first quarter 2024 financial results on May 14, 2024, followed by a conference call to discuss the results. Participants can access the call via phone or webcast.