Intuitive Machines Q3 revenue surges to record $269.3 million and beats estimates

Intuitive Machines reported record third quarter revenue of $269.3 million on Thursday, exceeding Wall Street estimates of approximately $246 million as demand for satellite manufacturing, lunar services and space infrastructure accelerated.

Revenue increased more than fivefold from $52.4 million a year earlier and rose 31% from the previous quarter. The company attributed the growth to satellite production, lunar delivery services, lunar data infrastructure and ground communications.

Gross profit reached a record $69 million, representing a margin of approximately 26%, compared with roughly $5 million a year earlier. The company also generated $66 million in operating cash flow and reported positive free cash flow of $33 million after capital expenditures.

Intuitive Machines ended September with a record order backlog of $1.9 billion, supported by contracts across commercial, civil and national security space programs. The company booked approximately $450 million in new awards and acquired backlog during the quarter.

The company reported a net loss attributable to shareholders of approximately $4 million, compared with $6.8 million a year earlier. Its loss per share narrowed to $0.02 from $0.06.

Intuitive Machines maintained a full year revenue outlook of $920 million to $950 million and expects positive adjusted EBITDA for 2026.

CEO Steve Altemus said the company remains focused on its upcoming IM-3 lunar mission and the Altus-1 satellite, both planned for launch in the March to April 2027 period.

The company also completed its acquisition of Goonhilly Earth Station and COMSAT, expanding its global communications network for commercial, government and deep space missions.