Overview
- Intuitive Machines reported record third-quarter revenue of about $269 million and achieved $66 million in operating cash flow with $33 million of free cash flow.
- The company’s contract backlog rose to $1.9 billion, driven in part by roughly $450 million of new awards and acquired projects tied to the Goonhilly Earth Station and COMSAT deal.
- Intuitive Machines won vendor status on NASA’s CLPS 2 procurement, positioning the firm to compete for lunar cargo and infrastructure work under a multi‑billion dollar contract vehicle.
- Management reiterated full‑year 2026 revenue guidance of $920M–$950M and expects positive adjusted EBITDA as higher satellite production and government work scale up.
- Management gave launch timing for key programs that will drive near‑term revenue recognition and execution risk — IM‑3 and Altus‑1 targeted for the March–April 2027 window and Altus‑2 through Altus‑5 planned for 2028 — and the market reacted positively to the updates.