Intuitive Machines Inc. (LUNR)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The business is real and funded: $1.1 billion of backlog, $231.6 million of cash as of March 31, 2026, convertible notes at only 2.500 percent running to 2030, and an equity program of up to $500.0 million. There is no going-concern warning, and the negative book equity of −$334.3 million is a structural consequence of the holding form, because $1,057.8 million of noncontrolling interests sits in a mezzanine layer. The core operating question, however, is open and large: the operating result has been negative in every year since the listing, all four lunar missions are loss contracts, the $851 million acquisition produced $0.2 million of operating income in its first quarter, and $684.0 million of total assets is goodwill and intangibles. That is not a substance finding, but neither is it demonstrated earnings power — hence yellow.
symbol.quality_note
In the first quarter of 2026 Intuitive Machines reported revenue of $186.7 million, three times the prior-year quarter. But $141.6 million of it came from a satellite builder the company bought in January 2026 for $851.0 million. On the company's own like-for-like basis — assuming it had owned that business a year earlier — revenue fell from $218.2 million to $199.8 million. At the same time all four NASA lunar missions awarded so far are booked as loss contracts in its own filings, and since June 2, 2026 the company may sell up to $500 million of new stock straight into the open market. Not investment advice — just the arithmetic behind the moon landing.
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Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at LUNR since then.
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Appears in These Scanners
This stock currently matches 12 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 12.30 $ — 11% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Uses AIIntuitive Machines setzt KI nach eigener Darstellung im Geschäftsbericht 10-K für 2025 intern ein — genannt werden eine abgeschottete, private Instanz eines Firmen-Chatbots und der Programmierassistent „Gilab DUO“; KI ist jedoch in keiner Produkt-, Segment- oder Umsatzbeschreibung als eigene Erlösquelle ausgewiesen.
View the full file — quotes, sources, reviewed filings
„We may incorporate AI solutions into our core offerings and business, and these applications may become important in our operations over time. For example, we currently use an isolated private instance of a corporate AI chatbox and Gilab DUO."
Wir könnten KI-Lösungen in unsere Kernangebote und unser Geschäft einbinden, und diese Anwendungen könnten im Laufe der Zeit für unseren Betrieb wichtig werden. So nutzen wir derzeit beispielsweise eine abgeschottete, private Instanz eines Firmen-KI-Chats sowie Gilab DUO.
„The use of AI applications has resulted in, and may in the future result in, cybersecurity incidents. Any such cybersecurity incidents related to our use of AI applications could adversely affect our reputation and results of operations."
Der Einsatz von KI-Anwendungen hat bereits zu Cybersicherheitsvorfällen geführt und könnte künftig erneut dazu führen. Solche Cybersicherheitsvorfälle im Zusammenhang mit unserem Einsatz von KI-Anwendungen könnten unseren Ruf und unser Betriebsergebnis beeinträchtigen.
„we may use artificial intelligence (“AI”) in our business or systems, and challenges with properly managing its use could result in competitive and reputational harm;"
Wir könnten künstliche Intelligenz („KI“) in unserem Geschäft oder unseren Systemen einsetzen, und Schwierigkeiten beim ordnungsgemäßen Umgang damit könnten zu Wettbewerbs- und Reputationsschäden führen;
Filings Reviewed: 10-Q 2026-05-15 · 10-K 2026-03-19 · 10-Q 2025-11-13 · 10-Q 2025-08-07 · 10-Q 2025-05-13 · 10-K 2025-03-25
Rated on July 27, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 218.9% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 8
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.22 | -0.22 – -0.22 | 951 | 45.1% | 1 |
| 12/31/2027 | -0.05 | -0.05 – -0.05 | 1,157 | 77.3% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- -0.08 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | 0.29 | -80.90 | 41 | 130.10 | 44.10 | -31 | -34 |
| 2024: Q3 | 0.25 | -80.60 | 59 | 359.30 | -95.00 | -18 | -19 |
| 2024: Q4 | -0.07 | -124.60 | 55 | 80.10 | -270.20 | -2 | -7 |
| 2025: Q1 | -0.20 | 92.60 | 63 | -14.40 | -18.20 | 19 | 13 |
| 2025: Q2 | -0.11 | -137.90 | 50 | 21.50 | -76.70 | -19 | -27 |
| 2025: Q3 | -0.08 | -132.00 | 52 | -10.30 | -13.00 | -7 | -19 |
| 2025: Q4 | -0.03 | 59.40 | 45 | -18.60 | -89.40 | -7 | -23 |
| 2026: Q1 | -0.05 | 74.20 | 187 | 198.70 | -20.10 | -55 | -65 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2020 | 44 | -4 | -4 | -0.24 | 8 | -16 | 38 |
| 2021 | 73 | -38 | -36 | -1.97 | -17 | -52 | 43 |
| 2022 | 86 | -6 | -6 | -0.35 | 1 | -58 | 67 |
| 2023 | 80 | -56 | 63 | 2.46 | -45 | -233 | 86 |
| 2024 | 228 | -57 | -283 | -4.62 | -58 | -1,003 | 355 |
| 2025 | 210 | -87 | -83 | -0.70 | -14 | -748 | 757 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Contracted backlog stood at $1.1 billion as of March 31, 2026, up $842.4 million in three months — $612.8 million acquired with Lanteris and $428.9 million genuine new awards, including the fifth lunar mission IM-5. Intuitive Machines is one of two awardees for NASA's Near Space Network direct-to-Earth services and the sole awardee for its data relay services.
The revenue jump from $62.5 million to $186.7 million in the first quarter of 2026 includes $141.6 million from satellite builder Lanteris, acquired on January 13, 2026. On a like-for-like basis the company's own pro forma table shows $199.8 million against $218.2 million a year earlier — a decline of roughly 8 percent. Lanteris contributed $141.6 million of revenue but only $0.2 million of operating income.
The operating result has been negative in every year since the listing: −$61.1 million (2023), −$57.4 million (2024), −$87.2 million (2025) and −$39.2 million in the first quarter of 2026 alone, after −$10.1 million a year earlier. All four lunar missions awarded so far are loss contracts in the company's own filings; on IM-3 estimated costs rose by $20.1 million in 2025 and by a further $2.8 million in the first quarter of 2026.
Cash fell from $582.6 million (December 31, 2025) to $231.6 million (March 31, 2026), chiefly because of the $403.3 million cash payment for Lanteris; operating cash flow turned from +$19.4 million to −$54.8 million. Against that stand a 2.500 percent coupon on $345.0 million of convertible notes maturing in 2030 and the equity program of up to $500.0 million running since June 2, 2026. Shareholders' deficit attributable to the company is −$334.3 million, a structural consequence of the holding form.
Class A shares outstanding rose from 121,281,880 (December 31, 2025) to 159,819,721 (March 31, 2026) — up 32 percent in one quarter. On top sit 56,568,640 one-for-one exchangeable Class C shares and up to 26,310,770 shares from the convertible notes, for 243.3 million combined, plus an at-the-market program of up to $500.0 million running since June 2, 2026.
Founders Ghaffarian, Altemus and Crain controlled roughly 52 percent of the combined voting power as of March 11, 2026 through Class C shares that carry three votes apiece but, per the annual report, no rights to the economics of the company. Ghaffarian Enterprises disclosed the sale of 709,545 Class A shares within 60 days on July 1, 2026 and a new plan for up to 1,935,568 further shares on July 7, 2026.
Intuitive Machines has landed on the Moon twice, carries $1.1 billion of contracted backlog and has acquired one of the best-known satellite builders in the world. But the first-quarter 2026 revenue jump to $186.7 million was bought: $141.6 million came from the acquisition, and on a like-for-like basis revenue fell from $218.2 million to $199.8 million. All four lunar missions awarded so far are loss contracts, the operating result has been negative in every year since the listing, cash halved in one quarter to $231.6 million, and the Class A share count rose 32 percent between January and March 2026 alone. Not investment advice.
- Intuitive Machines reached our research list through the Reddit hype scan of July 26, 2026. The cross-check against our own database on July 27, 2026 showed that the stock appears in none of the lists produced by our in-house stock scanner on that day — no value, balance sheet, quality or momentum list. Those lists are recomputed daily.
- Recency status: the basis is the annual report (10-K) for 2025 filed March 19, 2026 and the quarterly report (10-Q) as of March 31, 2026 filed May 15, 2026. Every later filing was reviewed — the registration statement and prospectus supplement (S-3ASR/424B5) of June 3, 2026, current reports (8-K) of June 3 and June 8, 2026, Schedule 13D/A filings of July 1 and July 7, 2026, a Schedule 13G of July 15, 2026, and Form 4 and Form 144 filings from June and July 2026.
- On valuation: the market value is not a feed number but calculated from 217.0 million shares (Class A plus exchangeable Class C per the 10-Q cover page, as of May 7, 2026) and the last price documented in a filing, $38.21 (the June 1, 2026 close per the prospectus supplement of June 3, 2026). The market value from the fundamental data feed deviates from this by more than a factor of three and was therefore not used, nor was any metric derived from it. A note on possible confusion: the former name Inflection Point Acquisition Corp. belonged to a special purpose acquisition company with no operating business; figures from before February 2023 are not comparable.
About the Company
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.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 525 |
| Headquarters | Houston, TX |
| Address | 13467 Columbia Shuttle Street, 77059 Houston, United States |
| Phone | 281 520 3703 |
| Website | intuitivemachines.com |
| IPO Date | 17. Nov 2021 |
| ISIN | US46125A1007 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Kamal Seyed Ghaffarian Ph.D. | Co-Founder & Chairman | 1959 |
| Stephen J. Altemus | Co-Founder, President, CEO & Director | 1964 |
| Timothy P. Crain | Co- Founder, Senior VP & CTO | 1973 |
| Peter McGrath II | Senior VP & CFO | 1968 |
| Steven Vontur | Chief Accounting Officer & Controller | – |
| Ben Bussey | Chief Scientist | – |
| Stephen Zhang | Head of Investor Relations | – |
| Anna Chiara Jones | Senior VP, General Counsel & Corporate Secretary | 1980 |
| Jade Marcantel | Chief Human Capital Officer | – |
| Jack Fischer | Senior VP & Chief Integration Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 28. Jul 2026 | Advent International, L.p. | 10% Owner | Sell | 11,495,514 | 12.84 | 147,602,400 |
| 27. Jul 2026 | Ghaffarian Kamal Seyed | Director | Sell | 47,303 | 13.20 | 624,404 |
| 27. Jul 2026 | Ghaffarian Kamal Seyed | Director | Other | 47,303 | – | – |
| 27. Jul 2026 | Ghaffarian Kamal Seyed | Director | Other | 47,303 | – | – |
| 13. Jul 2026 | Ghaffarian Kamal Seyed | Director | Sell | 110,976 | 15.64 | 1,735,654 |
| 13. Jul 2026 | Ghaffarian Kamal Seyed | Director | Other | 110,976 | – | – |
| 13. Jul 2026 | Ghaffarian Kamal Seyed | Director | Other | 110,976 | – | – |
| 20. Apr 2026 | Kamal Seyed Ghaffarian | Director | Sell | 141,909 | 28.16 | 3,996,157 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.