Intuitive Machines is looking to help reshape the Mars Sample Return mission architecture with its own technology, based on architecture it has been developing for the moon, executives told investors during a quarterly earnings call Tuesday. "Intuitive Machines has engaged the agency and intends to provide a solution set based on technology architecture we have been developing for lunar material return," Intuitive Machines CEO Steve Altemus said. The Mars Sample Return (MSR) program is the agency's $11 bill ...

Financial Data and Key Metrics Changes - Revenue for the first quarter of 2024 was $73.1 million, representing an increase of over 300% compared to $18.2 million in the first quarter of 2023, driven primarily by the successful IM-1 mission and OMS-3 operations [86][94] - Gross margin improved to a positive $12.2 million, primarily due to IM-1 mission success milestones and modifications on other missions, with an operating loss of $5.4 million compared to $14 million in the first quarter of 2023 [6][94] - The company ended Q1 with a cash balance of $55.2 million, the strongest quarter in cash position ever, driven by $50.6 million in proceeds from warrant exercises [16][94] Business Line Data and Key Metrics Changes - The IM-1 mission contributed approximately $12 million in revenue from success milestones, with an additional $5.6 million from IM-2 and IM-3 related contract modifications [15] - The company reported a contracted backlog of $222.3 million, with an expected decline of about $46.3 million as contracts were executed [96] Market Data and Key Metrics Changes - The company anticipates a revenue outlook for 2024 between $200 million and $240 million, representing an increase of 2.5 to 3 times prior year revenues [17] - The Lunar Terrain Vehicle (LTV) contract has a total program value of over $4.6 billion, structured across multiple phased awards [91] Company Strategy and Development Direction - The company is focused on establishing a cislunar economy through advancements in command and control, communications infrastructure, and autonomous operations [4][12] - Intuitive Machines aims to position itself as a national asset supporting global space endeavors, emphasizing the importance of stable funding and commercial utilization [88][92] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, highlighting the successful execution of the business plan and the anticipation of significant NASA awards [5][17] - The management acknowledged the competitive landscape, noting the strategic importance of the moon and the need for the U.S. to maintain a strong presence in lunar exploration [88][92] Other Important Information - The company is preparing for its IM-2 mission launch expected later in 2024, with plans for a third mission in 2025 [5][15] - The company is actively engaging with NASA to provide solutions for the Mars Sample Return Program, leveraging technology developed for lunar material return [14] Q&A Session All Questions and Answers Question: What is the current status of the backlog and how much of it covers the 2024 guidance? - Approximately 80% of the backlog is currently at about $222 million, with expectations that about 80% will be utilized through the remainder of the year [18] Question: What are the large draws in cash burn as the year progresses? - The indirect support is about $3.3 million a month, with significant payments related to booster payments for IM-2 and IM-3 missions being the largest cash draws [24] Question: How does the company view competition from other nations' lunar missions? - The management believes that while the U.S. may appear to be behind in frequency and complexity of missions, it will catch up quickly due to more opportunities for lunar missions [25] Question: What are the expected margins for IM-2 and OMES contracts? - IM-2 and IM-3 missions are expected to be loss projects or close to break-even, while OMES margin is running in the 5% range on a consolidated basis [43] Question: What are the next catalysts for the Lunar Terrain Vehicle contract? - The company expects a $30 million task order from NASA to kick off the preliminary design phase for the LTV, with a demonstration portion to follow [44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ____________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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 of registrant ...

Exhibit 99.1 Intuitive Machines Reports First Quarter 2024 Financial Results; Provides 2024 Revenue Outlook Houston, TX, May 14, 2024 -- 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 ...

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 ...