Intuitive Machines (NASDAQ:LUNR – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20), FiscalAI reports. The company had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million.
Here are the key takeaways from Intuitive Machines’ conference call:
- Record growth and backlog: Second-quarter revenue reached $206 million, more than four times the prior-year level, while backlog grew to approximately $1.8 billion. Management reaffirmed its $900 million–$1 billion full-year revenue outlook and expects positive adjusted EBITDA.
- Bookings and customer diversification accelerated: The company reported $1.7 billion in year-to-date bookings, including a record $1.2 billion in Q2 through the call date, with demand spanning civil, commercial, and national-security customers. Additional authority-to-proceed awards could add roughly $300 million of bookings in the second half.
- Intuitive Machines expanded its satellite manufacturing position through major programs, including three commercial GEO satellites worth more than $600 million, 18 additional AMDT-3 national-security satellites, and more than 70 IM-300 spacecraft under contract. Management said production capacity remains available for additional orders.
- The company accelerated its lunar communications network, targeting launch of Altus-1 in Q1 2027 and deployment of Altus-2 through Altus-5 together in 2028. The planned network is expected to generate pay-by-the-minute communications revenue plus additional positioning, navigation, and timing service revenue.
- Cash usage remains elevated: Operating cash flow was negative $60 million and total quarterly cash deployment was $84 million, driven by inventory, infrastructure, acquisition costs, capital expenditures, and an IM-4 milestone payment. The company ended the quarter with $367 million in cash after raising $235 million through its at-the-market equity program and has not provided a timetable for free-cash-flow breakeven.
Intuitive Machines Stock Performance
Shares of NASDAQ LUNR opened at $19.01 on Friday. The firm’s 50 day moving average price is $18.17 and its 200-day moving average price is $21.90. The company has a market cap of $4.13 billion, a PE ratio of -20.01 and a beta of 1.83. Intuitive Machines has a 52-week low of $7.78 and a 52-week high of $46.75.
Insider Activity
Institutional Trading of Intuitive Machines
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Intuitive Machines by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company’s stock worth $147,000 after purchasing an additional 1,499 shares during the period. Sunbelt Securities Inc. raised its position in Intuitive Machines by 144.8% during the fourth quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company’s stock valued at $48,000 after purchasing an additional 1,738 shares during the period. Russell Investments Group Ltd. increased its position in shares of Intuitive Machines by 15.1% during the 4th quarter. Russell Investments Group Ltd. now owns 14,213 shares of the company’s stock valued at $231,000 after purchasing an additional 1,866 shares during the last quarter. Mariner LLC raised its holdings in Intuitive Machines by 8.1% during the 4th quarter. Mariner LLC now owns 25,849 shares of the company’s stock valued at $419,000 after buying an additional 1,933 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in Intuitive Machines by 6.6% during the 2nd quarter. IHT Wealth Management LLC now owns 36,721 shares of the company’s stock valued at $399,000 after buying an additional 2,280 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on LUNR shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Roth Capital set a $30.00 target price on Intuitive Machines in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of “Moderate Buy” and an average target price of $30.31.
Check Out Our Latest Analysis on LUNR
Key Intuitive Machines News
Here are the key news stories impacting Intuitive Machines this week:
- Positive Sentiment: Intuitive Machines reported a record $1.8 billion backlog, including approximately $920 million in second-quarter awards. The backlog spans lunar, satellite, defense and commercial space programs, supporting expectations for future revenue and a shift toward recurring space-infrastructure revenue. LUNR Q2 Earnings Call Highlights Record Backlog and Expansion
- Positive Sentiment: Stifel upgraded LUNR to Buy from Hold, arguing that the backlog and long-term growth opportunity are more important than the quarterly miss. B. Riley maintained a Buy rating, while Cantor Fitzgerald retained an Overweight rating. Intuitive Machines stock jumps 8% as Wall Street backs $1.8B backlog
- Positive Sentiment: Call-option activity was elevated, with traders purchasing 41,940 calls—about 19% above average daily volume—suggesting increased speculative bullish interest in the stock.
- Neutral Sentiment: Analysts lowered their price targets despite maintaining constructive ratings: Stifel cut its target to $26 from $32, Cantor to $32 from $43 and B. Riley to $43 from $45. The revisions reflect near-term execution concerns but still imply substantial potential upside.
- Negative Sentiment: Second-quarter results missed expectations. Revenue rose fourfold year over year to approximately $206.2 million, but fell short of estimates near $216 million, while EPS of negative $0.29 missed the consensus loss estimate of negative $0.09. A $14.7 million charge contributed to the shortfall. Intuitive Machines Reports Second Quarter 2026 Financial Results
- Negative Sentiment: Director Kamal Seyed Ghaffarian sold 267,448 shares worth approximately $4.3 million under a pre-arranged Rule 10b5-1 plan. Although the sale was scheduled, insider selling can weigh on sentiment.
About Intuitive Machines
Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.
Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.
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