Intuitive Machines, Inc. LUNR
Intuitive Machines, Inc., collectively with its subsidiaries (the "Company," "IM," "Intuitive Machines," "we," "us" or "our") is a space infrastructure and services company founded in 2013 and focused on enabling sustained infrastructure and human activity beyond Earth. We believe the United States is transitioning from episodic space missions to long-duration operations and persistent presence, and we are building the systems and services required to support this evolution across civil, national security, and commercial markets.
We build spacecraft, connect space-based networks, and operate infrastructure as-a-service that support operations across low Earth orbit ("LEO"), geostationary orbit ("GEO"), cislunar space, and deep-space. Our strategy is to evolve space activity from single-mission execution toward continuously operating infrastructure by combining spacecraft delivery with network connectivity and long-term operations. We believe this approach positions us to support enduring government requirements while enabling the development of a commercial space economy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $207.1M | $228.0M | $79.6M | $85.9M | — |
| SG&A | $92.6M | $53.3M | $34.3M | $14.9M | — |
| Total operating expenses | $297.3M | $285.4M | $140.7M | $91.5M | — |
| Operating income | -$87.2M | -$57.4M | -$61.1M | -$5.5M | -$491.3K |
| Interest expense | $4.2M | $92.0K | — | — | — |
| Pre-tax income | -$102.9M | -$346.9M | $10.2M | -$6.4M | — |
| Income tax | $4.0M | $37.0K | $40.0K | $23.0K | — |
| Net income | -$83.3M | -$283.4M | $61.8M | -$6.4M | -$315.5K |
| EPS, basic | -0.73 | -4.63 | 3.37 | — | -0.02 |
| EPS, diluted | -0.73 | -4.63 | 2.42 | — | — |
| Shares, diluted (wtd. avg.) | $115.4M | $61.4M | $25.6M | — | $9.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $582.6M | $207.6M | $4.6M | $25.8M | $29.4M |
| Receivables | $12.2M | $44.8M | $16.9M | $1.3M | — |
| Total current assets | $618.8M | $293.2M | $31.6M | $41.0M | $835.1K |
| Property, plant and equipment | $68.5M | $23.4M | $18.3M | $21.2M | — |
| Goodwill | $18.7M | $0 | — | — | — |
| Other intangibles | $13.0M | $0 | — | — | — |
| Total assets | $757.2M | $355.4M | $85.9M | $67.0M | $330.9M |
| Short-term debt | — | $0 | $8.0M | $16.1M | — |
| Total current liabilities | $124.8M | $98.8M | $81.5M | $95.2M | $219.5K |
| Long-term debt | $335.3M | $0 | $0 | $3.9M | — |
| Total liabilities | $553.5M | $351.5M | $137.5M | $124.6M | $11.8M |
| Retained earnings | -$721.5M | -$996.5M | -$248.6M | -$72.6M | -$315.5K |
| Total equity | -$755.0M | -$1.01B | -$261.4M | -$50.9M | -$51.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$14.3M | -$57.6M | -$45.3M | $784.0K | -$1.2M |
| Depreciation and amortisation | $3.6M | $1.9M | $1.4M | $1.1M | — |
| Stock-based compensation | $8.6M | $8.8M | $4.3M | $624.0K | — |
| Capital expenditure | $41.6M | $10.1M | $29.9M | $16.4M | — |
| Investing cash flow | -$56.6M | -$10.1M | -$29.9M | -$16.4M | -$329.8M |
| Financing cash flow | $446.6M | $272.8M | $53.9M | $12.1M | $331.3M |
| Dividends paid | — | $0 | $8.0M | $0 | — |
| Buybacks | $20.7M | $0 | $12.8M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-019865.
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