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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 | -40.9% | -9.2% | - |
| 2024 | $228M | $-345M | $-283M | $-68M | -7228.1% | 186.6% | -558.9% |
| 2023 | $80M | $-59M | $62M | $-75M | -119.8% | -7.4% | - |
| 2022 | $86M | $-5M | $0M | $-16M | 0.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 |
| Operating Income | -5.51 | -60.16 | -52.35 | -87.23 |
| EBITDA | -4.52 | -58.78 | -344.93 | -95.11 |
| EBIT | -5.59 | -60.16 | -346.79 | -98.71 |
| Pretax Income | -6.43 | 10.18 | -346.88 | -102.88 |
| Tax Provision | -0.02 | 0.04 | 0.04 | 3.96 |
| Net Income | 0 | 61.76 | -283.41 | -83.29 |
| Net Income Common Stockholders | 0 | 59.42 | -284.31 | -83.91 |
| Total Expenses | 91.45 | 139.71 | 280.35 | 294.36 |
| Interest Expense | 0.84 | 0.82 | 0.09 | 4.18 |
| Interest Income | 0 | 0 | 0.27 | 15.27 |
| Selling General And Administration | 14.87 | 34.34 | 53.26 | 92.62 |
| Normalized EBITDA | -4.43 | -137.15 | -142.12 | -68.27 |
| Normalized Income | -6.31 | -22.78 | -123.19 | -62.09 |
| Basic EPS | 0 | 2.88 | -2.83 | 0 |
| Diluted EPS | 0 | 2.88 | -2.83 | 0 |
| Tax Effect Of Unusual Items | 0 | 0.31 | -42.59 | -5.64 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0.21 |
| Total Unusual Items | -0.09 | 78.37 | -202.82 | -26.84 |
| Total Unusual Items Excluding Goodwill | -0.09 | 78.37 | -202.82 | -26.84 |
| Net Income From Continuing Operation Net Minority Interest | -6.41 | 55.28 | -283.41 | -83.29 |
| Reconciled Depreciation | 1.07 | 1.38 | 1.86 | 3.60 |
| Reconciled Cost Of Revenue | 75.51 | 103.99 | 225.23 | 201.07 |
| Net Interest Income | -0.84 | -0.82 | 0.18 | 11.10 |
| Net Income From Continuing And Discontinued Operation | -6.41 | 55.28 | -283.41 | -83.29 |
| Total Operating Income As Reported | -5.51 | -61.12 | -57.40 | -87.23 |
| Diluted Average Shares | 18.07 | 21.03 | 100.61 | 0 |
| Basic Average Shares | 18.07 | 21.03 | 100.61 | 0 |
| Diluted NI Availto Com Stockholders | 0 | 59.42 | -284.31 | -83.91 |
| Preferred Stock Dividends | 0 | 2.34 | 0.90 | 0.62 |
| Minority Interests | 0 | 45.14 | 63.51 | 23.55 |
| Net Income Including Noncontrolling Interests | 0 | 16.62 | -346.92 | -106.85 |
| Net Income Extraordinary | 6.41 | 6.48 | 0 | 0 |
| Net Income Continuous Operations | -6.41 | 10.14 | -346.92 | -106.85 |
| Other Income Expense | -0.09 | 71.16 | -294.71 | -26.75 |
| Other Non Operating Income Expenses | 0.01 | -7.21 | -91.89 | 0.09 |
| Special Income Charges | 0 | 65.29 | -125.17 | -35.22 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| 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 |
| Net Non Operating Interest Income Expense | -0.84 | -0.82 | 0.18 | 11.10 |
| Total Other Finance Cost | 0 | 0.82 | -0.18 | 0 |
| Interest Expense Non Operating | 0.84 | 0.82 | 0.09 | 4.18 |
| Interest Income Non Operating | 0 | 0 | 0.27 | 15.27 |
| Other Operating Expenses | 0 | 0 | 0 | -2.93 |
| 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 |
| Depreciation Income Statement | 1.07 | 1.38 | 1.86 | 0 |
| General And Administrative Expense | 14.87 | 34.34 | 53.26 | 92.62 |
| Other Gand A | 14.87 | 34.34 | 53.26 | 92.62 |
| Operating Revenue | 85.95 | 79.55 | 228 | 207.13 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Intuitive Machines, Inc.this co. | LUNR | $4.0B | - | -3.98 | -40.9% | -55.99 |
| The Brink's Company | BCO | $4.4B | 22.84 | 15.89 | 49.0% | 8.43 |
| Herc Holdings Inc. | HRI | $4.4B | - | 2.25 | 0.1% | 15.30 |
| Archer Aviation Inc. | ACHR | $4.2B | - | 1.89 | -28.1% | -3.28 |
| GPGI, Inc. | GPGI | $4.2B | - |
| 7.52 |
| -55.9% |
| -335.00 |
| York Space Systems, Inc. | YSS | $3.7B | - | 1.68 | -9.7% | -473.39 |
| NuScale Power Corporation | SMR | $3.7B | - | 3.08 | -32.0% | -12.69 |
| Maximus, Inc. | MMS | $3.6B | 10.02 | 2.07 | 19.1% | 7.27 |
| BETA Technologies, Inc. | BETA | $3.5B | - | 1.83 | -41.0% | -5.24 |
| Peer Median | - | 16.43 | 2.16 | -18.9% | -4.26 | |