HOUSTON, May 14, 2024 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (NASDAQ:LUNR, "Intuitive Machines, " or the "Company"))), a leading space exploration, infrastructure, and services company, today announced its financial results for the first quarter ended March 31, 2024. Intuitive Machines CEO Steve Altemus said, "We had an excellent start to the year, anchored by our successful IM-1 mission and a full quarter of OMES III operations. Revenue was over $73 million in the quarter, an increase of over 300% ve ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

HOUSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”) announced today that it will release its financial results for the first quarter of 2024 on Tuesday, May 14, 2024, before the market opens. Following the news release, the Company will host a conference call the same day at 8:30 am ET to discuss the results. Participants may access the call at 1-877-451-6152, international callers may use 1-201-389-0879, and request to join the Intuiti ...

HOUSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”) announced today that it will release its financial results for the first quarter of 2024 on Tuesday, May 14, 2024, before the market opens. Following the news release, the Company will host a conference call the same day at 8:30 am ET to discuss the results. Participants may access the call at 1-877-451-6152, international callers may use 1-201-389-0879, and request to join the Intuiti ...

The latest trading session saw Intuitive Machines, Inc. (LUNR) ending at $5.45, denoting a -0.91% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.02%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.1%.The company's stock has dropped by 22.86% in the past month, falling short of the Aerospace sector's loss of 5.88% and the S&P 500's loss of 3.01%.The investment community will be closely monitoring the performance of Intuitive Machines, Inc. in its fort ...

Digital Vision./DigitalVision via Getty Images Intuitive Machines (NASDAQ:LUNR) has the largest cash balance and order book in its history. They have built out their mission control facility, Earth to Moon data services, and expect to treble their revenue in 2024. 2023 saw IM successfully complete its first Lunar mission, proving its capability, more missions are planned for 2024 and 2025. The CEO guided to a trebling of revenue and the CFO to improved margins in the latest earnings call. IM is currentl ...

In the latest trading session, Intuitive Machines, Inc. (LUNR) closed at $5.01, marking a -0.6% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.58%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.Shares of the company have depreciated by 8.2% over the course of the past month, underperforming the Aerospace sector's loss of 4.9% and the S&P 500's loss of 1.09%.The upcoming earnings release of Intuitive Machines, Inc. will be of great i ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ____________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-40823 ____________________________ INTUITIVE MACHINES, INC. (Exact name ...

Intuitive Machines, Inc. (NASDAQ:LUNR) Q4 2023 Earnings Conference Call March 21, 2024 8:30 AM ET Company Participants Stephen Zhang - Head of Investor Relations Steve Altemus - Chief Executive Officer Steven Vontur - Interim Chief Financial Officer Conference Call Participants Austin Moeller - Canaccord Genuity Joshua Sullivan - The Benchmark Company Andres Sheppard - Cantor Fitzgerald Sujeeva Desilva - ROTH MKM Mike Crawford - B. Riley Securities Operator Welcome to Intuitive Machines Fourth Quarter 2023 ...

Lunar Mission Achievements - Intuitive Machines successfully landed its IM-1 mission on the Moon on February 22, 2024, marking the first U.S. lunar landing in over 50 years[4] - Intuitive Machines recognized $12.5 million in mission completion milestone payments from NASA and commercial customers after 144 hours of lunar surface operations[6] - Intuitive Machines validated its proprietary liquid methane and liquid oxygen propulsion system through a 7-day mission from launch to lunar surface in Q1[6] Financial Performance - Q4 2023 revenue was $30.6 million, primarily driven by NASA CLPS contracts and OMES III, compared to $38.0 million in the prior year period[14] - Full-year 2023 revenue was $79.5 million, driven by NASA CLPS contracts and OMES III, compared to $85.9 million in the prior year[14] - Revenue for the year ended December 31, 2023, was $79.5 million, a decrease from $85.9 million in 2022[23] - Net income for the year ended December 31, 2023, was $15.0 million, compared to a net loss of $6.4 million in 2022[23] - Operating loss for the year ended December 31, 2023, was $56.2 million, compared to $5.5 million in 2022[23] - Adjusted EBITDA for the year ended December 31, 2023, was -$49.6 million, compared to -$3.8 million in 2022[28] - Free cash flow for the year ended December 31, 2023, was -$75.2 million, compared to -$15.6 million in 2022[30] - Net cash used in operating activities for the year ended December 31, 2023, was $45.3 million, compared to $784 thousand provided by operating activities in 2022[25] Backlog and Contracts - The company concluded 2023 with a backlog of $268.6 million, nearly doubling in Q4 due to OMES III task orders and other contracts[6] - Backlog increased by $66.7 million to $268.6 million as of December 31, 2023, compared to $201.9 million on December 31, 2022[32] - New awards contributed $184.4 million to the backlog, primarily driven by the OMES III project ($142.4 million), an international payload mission ($17.6 million), and the JETSON contract ($9.5 million)[32] - Continued performance on existing contracts reduced backlog by $79.5 million[32] - Contract value adjustments decreased backlog by $38.2 million, mainly related to time and materials and other contracts[32] Cash and Assets - The company ended Q4 2023 with a cash balance of $4.5 million, which increased to $54.6 million by March 1, 2024, due to warrant exercises from an institutional investor[14] - Cash and cash equivalents decreased to $4.5 million at the end of 2023 from $25.8 million at the end of 2022[21] - Total assets increased to $85.9 million at the end of 2023 from $67.0 million at the end of 2022[21] - Total liabilities increased to $139.3 million at the end of 2023 from $124.6 million at the end of 2022[21] Operational Highlights - Intuitive Machines achieved positive gross margin driven by OMES III revenue and cost discipline[6] - The company commenced the OMES III program and recognized $12.5 million in revenue in December 2023[7] - The company transitioned its headquarters to a new Lunar Production and Operations facility, partnering with the City of Houston and the Houston Airport System for financing[7] Compensation and Expenses - Share-based compensation expense for the year ended December 31, 2023, was $4.3 million, compared to $624 thousand in 2022[28]