Intuitive Machines
Builds lunar landers, satellites, and communications networks from Earth orbit to deep space.
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Profile
Builds lunar landers, multi-orbit spacecraft, communications networks, ground stations, and navigation and mission services for civil, commercial, and national-security customers. Near-term revenue is led by milestone-based spacecraft programs, with NASA and other U.S. government contracts central to the business.
Builds spacecraft and space infrastructure across Earth orbit, cislunar space, and deep space. Lanteris platforms cover commercial, civil, and national-security satellites; Nova-C landers deliver NASA CLPS payloads; KinetX supplies deep-space navigation; and OMES III provides NASA engineering services.
Connects and operates those assets through Near Space Network communications, lunar data relay, mission operations, and newly acquired Goonhilly and COMSAT ground stations. Its build-connect-operate model combines manufacturing with longer-duration data, navigation, and hosted-payload services.
Most near-term revenue comes from milestone-based build contracts, while NASA and other U.S. government programs remain central customers. Performance depends on winning regulated government work, integrating recent acquisitions, reliable mission execution, qualified suppliers, and a single launch provider for lunar missions.
Company facts
Categories
Key statistics
Year to date −14.0% · Average volume (30d) 9.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 18, 2026 | Canaccord Genuity | Target | $41 | $39 | |
| Aug 14, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $43 | $32 |
| Aug 13, 2026 | Stifel Nicolaus | Target | $32 | $26 | |
| Aug 13, 2026 | Roth Capital | Target | $75 | $30 | |
| May 27, 2026 | Roth Capital | Target | $50 | $75 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.09 | −$0.29 | −220.9% | $212.3M | $206.2M | −2.9% | +3.60% |
| May 14, 2026Q1 FY26 | −$0.07 | −$0.18 | −157.1% | $203.0M | $186.7M | −8.0% | −7.20% |
| Mar 19, 2026Q4 FY25 | −$0.04 | −$0.04 | 0.0% | $53.7M | $44.8M | −16.6% | −5.71% |
| Nov 4, 2025Q3 FY25 | −$0.04 | −$0.06 | −50.0% | $67.9M | $52.4M | −22.9% | +0.38% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $62.5M | $50.3M | $52.4M | $44.8M | $186.7M | $206.2M | |
| Gross profit | $12.9M | −$11.8M | $11.4M | $13.5M | $72.8M | $35.9M | |
| Operating income | −$10.1M | −$28.6M | −$15.4M | −$33.1M | −$39.2M | −$47.1M | |
| Net income | −$11.4M | −$38.6M | −$6.8M | −$40.0M | −$37.5M | −$46.4M | |
| Diluted EPS | −$0.11 | −$0.24 | −$0.06 | −$0.34 | −$0.25 | −$0.29 | |
| Gross margin | 20.7% | -23.5% | 21.7% | 30.2% | 39.0% | 17.4% | |
| Operating margin | -16.1% | -56.9% | -29.4% | -73.9% | -21.0% | -22.9% |
Fiscal years (4-quarter sums)FY21 $72.6M · FY22 $85.9M · FY23 $79.5M · FY24 $228.0M · FY25 $210.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $367.4M · Total debt $429.8M · Total assets $1.89B · Shareholders' equity −$283.7M
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 159.37M · Float —
Float — provider float is below the insider stake.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Kamal Seyed Ghaffarian | 38.43M | 19.70% | 13D | Jul 7, 2026 |
| Kamal Seyed Ghaffarian · director, 10 percent owner: | 37.87M | 23.76% | Form 4 | Aug 26, 2026 |
| Stephen J. Altemus · director, officer: Chief Executive Officer | 13.50M | 8.47% | Form 4 | Apr 16, 2026 |
| BlackRock, Inc. | 12.24M | 7.68% | 13F | Aug 7, 2026 |
| Advent International, L.P. · 10 percent owner | 11.50M | 7.21% | Form 4 | Jul 29, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Steven Vontur | officer: See Remarks | −3,050 | $16.13 |
| Aug 24, 2026 | Kamal Seyed Ghaffarian | director, 10 percent owner: | −141,909 | $16.87 |
| Aug 10, 2026 | Kamal Seyed Ghaffarian | director, 10 percent owner: | −267,448 | $16.17 |
| Jul 28, 2026 | International L.p. Advent | 10 percent owner | −11,495,514 | $12.84 |
| Jul 27, 2026 | Kamal Seyed Ghaffarian | director, 10 percent owner: | −47,303 | $13.20 |
Peers
- Lockheed Martin
Large-prime overlap in lunar, civil, and national-security space
- Northrop Grumman
Defense-space prime across satellites, payloads, and Gateway
- Rocket Lab
Space systems and launch peer for lunar and deep-space missions
- Boeing
Civil-space prime for SLS, Starliner, satellites, and NASA work
- MDA Space
Satellite systems and space robotics for civil infrastructure
- Redwire
Space infrastructure peer in lunar systems, robotics, and deployables
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Intuitive Machines | $15.49 | +0.75% | $2.45B | — | — | 5.0 | +309.8% |
| Lockheed Martin | $564.08 | +0.07% | $130.13B | 20.8 | 17.9 | 1.7 | +10.5% |
| Northrop Grumman | $546.65 | +0.20% | $77.51B | 17.3 | 18.6 | 1.8 | +5.1% |
| Rocket Lab | $64.56 | +0.25% | $37.27B | — | — | 48.5 | +62.0% |
| Boeing | $209.76 | −0.03% | $165.84B | 90.8 | 152.1 | 1.8 | +8.0% |
| MDA Space | $29.10 | +0.80% | $4.68B | 50.7 | 27.8 | 3.0 | — |
| Redwire | $10.87 | 0.00% | $2.60B | — | — | 6.1 | +89.6% |
| Median | 35.7 | 23.2 | 2.4 | +10.5% |