Intuitive Machines Inc · Q1 2026 earnings

Briefing

Intuitive Machines Inc reported revenue of $186.7 million and a net loss of $52.5 million for Q1 2026.

Intuitive Machines completed the acquisition of Lanteris Space Holdings LLC in January 2026, significantly expanding its spacecraft manufacturing capabilities and contributing $141.6 million in revenue during the quarter. The company reported total revenue of $186.7 million, driven by product revenue from government and commercial satellite contracts, while maintaining a strong backlog of $1.06 billion. Operating expenses increased due to the acquisition and investments in growth initiatives, resulting in an operating loss of $39.2 million.

• Acquired Lanteris Space Holdings, adding substantial spacecraft manufacturing capacity and $612.8 million to backlog.
• Generated $186.7 million in revenue, with product revenue reaching $141.6 million primarily from fixed-price contracts.
• Ended the quarter with $231.6 million in cash and cash equivalents and a contracted backlog of $1.06 billion.
• Reported a net loss of $52.5 million, impacted by acquisition costs, fair value changes in warrants, and higher operating expenses.

Headline financials

Revenue & EPS history

The company expects to recognize approximately 60-65% of its $1.06 billion backlog over the remainder of 2026 and 25-30% in 2027, supported by ongoing lunar missions and satellite programs.