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Intuitive Machines, Inc. operates as a space infrastructure and services company in the United States. The company provides delivery services for the transportation and delivery of payloads, such as satellites, scientific instruments, and cargo to various destinations in space, rideshare delivery, and lunar surface access; data transmission services, which include the collection, processing, and interpretation of space-based data, as well as utilizing AI applications, such as command, control, communications, reconnaissance and prospecting; and infrastructure as a service solutions for navigation, maintenance, scientific data collection, and system health monitoring. It also offers Nova-C lunar lander that combines flight-proven with a scalable design to meet the demands of the emerging lunar economy; Micro Nova Hopper develops propulsive drone that is designed to land, deploy, and hop on the company's IM-2 mission; and Nova-D developed to transport critical payloads, including infrastructure services, such as fission surface power systems, lunar terrain vehicles, and rovers enabling sustainable lunar exploration and development. In addition, the company provides lunar data network. It serves its products to the U.S. government, which include NASA, national security space, U.S. department of Defense, and state governments; commercial; and international customers. The company was founded in 2013 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $207M | $-95M | $-83M | $-56M | 11.0% | -9.2% | -70.6% |
| 2024 | $228M | $-345M | $-283M | $-68M | 28.1% | 186.6% | -558.9% |
| 2023 | $80M | $-59M | $62M | $-75M | -23.6% | -7.4% | - |
| 2022 | $86M | $-5M | $0M | $-16M | 0.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 85.95 | 79.55 | 228 | 207.13 |
| Operating Revenue | - | 85.95 | 79.55 | 228 | 207.13 |
| Cost Of Revenue | - | 75.51 | 103.99 | 225.23 | 201.07 |
| Gross Profit | - | 10.43 | -24.44 | 2.77 | 6.06 |
| Operating Expense | - | 15.94 | 35.71 | 55.12 | 93.29 |
| Selling General And Administration | - | 14.87 | 34.34 | 53.26 | 92.62 |
| Total Expenses | - | 91.45 | 139.71 | 280.35 | 294.36 |
| Operating Income | - | -5.51 | -60.16 | -52.35 | -87.23 |
| Total Operating Income As Reported | - | -5.51 | -61.12 | -57.40 | -87.23 |
| EBITDA | - | -4.52 | -58.78 | -344.93 | -95.11 |
| Normalized EBITDA | - | -4.43 | -137.15 | -142.12 | -68.27 |
| EBIT | - | -5.59 | -60.16 | -346.79 | -98.71 |
| Interest Income | - | - | - | 0.27 | 15.27 |
| Interest Expense | - | 0.84 | 0.82 | 0.09 | 4.18 |
| Net Interest Income | - | -0.84 | -0.82 | 0.18 | 11.10 |
| Other Non Operating Income Expenses | - | 0.01 | -7.21 | -91.89 | 0.09 |
| Other Income Expense | - | -0.08 | 71.16 | -294.71 | -26.75 |
| Interest Income Non Operating | - | - | - | 0.27 | 15.27 |
| Interest Expense Non Operating | - | 0.84 | 0.82 | 0.09 | 4.18 |
| Net Non Operating Interest Income Expense | - | -0.84 | -0.82 | 0.18 | 11.10 |
| Pretax Income | - | -6.43 | 10.18 | -346.88 | -102.88 |
| Tax Provision | - | -0.02 | 0.04 | 0.04 | 3.96 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0.31 | -42.59 | -5.64 |
| Net Income Continuous Operations | - | -6.40 | 10.14 | -346.92 | -106.85 |
| Net Income From Continuing And Discontinued Operation | - | -6.40 | 55.28 | -283.41 | -83.29 |
| Net Income From Continuing Operation Net Minority Interest | - | -6.40 | 55.28 | -283.41 | -83.29 |
| Net Income | - | 0 | 61.76 | -283.41 | -83.29 |
| Net Income Common Stockholders | - | 0 | 59.42 | -284.31 | -83.91 |
| Net Income Including Noncontrolling Interests | - | 0 | 16.62 | -346.92 | -106.85 |
| Normalized Income | - | -6.31 | -22.78 | -123.19 | -62.09 |
| Diluted NI Availto Com Stockholders | - | 0 | 59.42 | -284.31 | -83.91 |
| Basic Average Shares | 18.07 | 18.07 | 21.03 | 100.61 | - |
| Diluted Average Shares | 18.07 | 18.07 | 21.03 | 100.61 | - |
| Reconciled Depreciation | - | 1.07 | 1.38 | 1.86 | 3.60 |
| Reconciled Cost Of Revenue | - | 75.51 | 103.99 | 225.23 | 201.07 |
| Total Unusual Items | - | -0.09 | 78.37 | -202.82 | -26.84 |
| Total Unusual Items Excluding Goodwill | - | -0.09 | 78.37 | -202.82 | -26.84 |
| Preferred Stock Dividends | - | - | 2.34 | 0.90 | 0.62 |
| Minority Interests | - | 0 | 45.14 | 63.51 | 23.55 |
| Special Income Charges | - | 0 | 65.29 | -125.17 | -35.22 |
| Other Special Charges | -1.81 | - | - | - | - |
| Impairment Of Capital Assets | - | 0 | 0.96 | 5.04 | 0 |
| Restructuring And Mergern Acquisition | - | 0 | -66.25 | 120.12 | 35.22 |
| Gain On Sale Of Security | - | -0.09 | 13.08 | -77.65 | 8.38 |
| Depreciation Amortization Depletion Income Statement | - | 1.07 | 1.38 | 1.86 | 3.60 |
| Depreciation And Amortization In Income Statement | - | 1.07 | 1.38 | 1.86 | 3.60 |
| General And Administrative Expense | - | 14.87 | 34.34 | 53.26 | 92.62 |
| Other Gand A | - | 14.87 | 34.34 | 53.26 | 92.62 |
| Total Other Finance Cost | - | - | 0.82 | -0.18 | - |
| Other Operating Expenses | - | - | - | - | -2.93 |
| Depreciation Income Statement | 0.84 | 1.07 | 1.38 | 1.86 | - |
| Net Income Extraordinary | - | 6.40 | 6.48 | 0 | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Intuitive Machines, Inc.this co. | LUNR | $5.4B | -64.78 | -7.15 | 11.0% | -54.52 |
| Construction Partners, Inc. | ROAD | $6.4B | 62.73 | 7.00 | 11.2% | 21.22 |
| GATX Corporation | GATX | $6.1B | 18.44 | 2.23 | 12.1% | 16.11 |
| Plug Power Inc. | PLUG | $5.0B | -3.08 | 5.13 | -166.8% | -3.57 |
| Archer Aviation Inc. | ACHR | $4.9B |
| - |
| - |
| - |
| - |
| - |
| -7.87 |
| 2.21 |
| -28.1% |
| -5.59 |
| Herc Holdings Inc. | HRI | $4.7B | 4690.39 | 2.41 | 0.1% | 9.57 |
| Xometry, Inc. | XMTR | $4.6B | -74.00 | 16.58 | -22.4% | -130.48 |
| BETA Technologies, Inc. | BETA | $4.3B | -5.82 | 2.39 | -41.0% | -3.99 |
| Redwire Corporation | RDW | $4.3B | -18.82 | 4.02 | -21.4% | -23.94 |
| Peer Median | - | -4.45 | 3.21 | -21.9% | -3.78 | |