Intuitive Machines unveils $269 million in Q3 revenue
By Brie CarterKey points
- Intuitive Machines (NASDAQ:LUNR) reported third-quarter 2026 revenue of $269.348 million, compared with $52.437 million a year earlier, alongside a narrower net loss of $3.354 million.
- Operating cash flow reached $66.172 million, free cash flow was $33 million, and backlog increased to approximately $1.9 billion.
- The company expects full-year 2026 revenue of $920 million–$950 million and positive adjusted EBITDA, supported by new contracts and its expanding space infrastructure business.
Intuitive Machines (NASDAQ:LUNR) reported third-quarter 2026 revenue of $269.348 million, compared with $52.437 million a year earlier, while its net loss narrowed to $3.354 million from $9.960 million.
The revenue comparison reflects a change in business mix following the January 2026 Lanteris acquisition, with product revenue contributing $215.118 million in the latest quarter compared with no product revenue in the prior-year period.
Gross profit reached $69 million, representing a 26% margin, supported by higher satellite production volumes and favorable one-time program adjustments, while operating loss widened to $34.249 million from $15.419 million and adjusted EBITDA turned positive at $8.255 million.
Operating cash flow reached $66.172 million and company-defined free cash flow was $33 million, while backlog increased to approximately $1.9 billion, up $1.7 billion from December 2025, reflecting new awards and acquired contracts.
Intuitive Machines forecast full-year 2026 revenue of $920 million–$950 million and positive adjusted EBITDA, following its Goonhilly Earth Station and COMSAT acquisitions and selection as a vendor for NASA's $10 billion CLPS 2 contract, which includes a $5 billion option.
