Intuitive Machines Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 revenue and backlog driven by diversified growth, Lanteris acquisition, and major contract wins. Positive Adjusted EBITDA achieved; outlook maintained with strong visibility from backlog and upcoming NASA and national security awards.
Fiscal Year 2025
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2025 saw major transformation with key acquisitions, expanded national security presence, and strong contract momentum. 2026 revenue is projected at $900M–$1B, with positive adjusted EBITDA targeted and significant backlog supporting growth.
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Announced $800M acquisition of Lantera, expanding into a vertically integrated space prime with strong Q3 results, improved margins, and a robust backlog. The deal is expected to be accretive, with integration unlocking new high-margin service opportunities and market expansion.
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Q2 revenue rose 21% year-over-year to $50.3 million, driven by key NASA contracts and strategic vertical integration. Facility expansion, the KinetX acquisition, and a robust pipeline position the company for long-term growth, with positive adjusted EBITDA now expected in 2026.
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Q1 2025 delivered 14% sequential revenue growth, positive free cash flow, and improved margins, driven by CLPS, LTVS, and NSNS programs. Strong cash position and new contract wins support guidance for $250–$300 million in 2025 revenue and positive adjusted EBITDA by year-end.
Fiscal Year 2024
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Record 2024 revenue and cash position set the stage for 2025 growth, with a focus on expanding high-margin data and infrastructure services, leveraging lunar mission expertise, and targeting new government and commercial markets. Positive adjusted EBITDA is targeted by 2026.
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Q3 revenue surged 359% year-over-year to $58.5 million, with record cash and backlog driven by major contract wins, including the $4.82 billion NSNS award. Guidance was narrowed to $215–$235 million, and liquidity remains strong with $106.9 million in cash post-quarter.
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Q2 revenue more than doubled year-over-year to $41.4 million, with strong backlog and no debt. 2024 revenue guidance was raised to $210–$240 million, driven by contract wins and expanding commercial lunar services. Cash position is sufficient for the next 12 months.