Intuitive Machines (NASDAQ:LUNR) Posts Earnings Results, Misses Expectations By $0.18 EPS

Key Points

• Intuitive Machines missed quarterly expectations, reporting EPS of -$0.25 versus analysts’ forecast of -$0.07 and revenue of $186.7 million versus expectations of $203.0 million.
• Despite the miss, the company said it posted a record Q1 with positive adjusted EBITDA of $2.7 million and a record $1.1 billion backlog, supported by more than $400 million in new bookings.
• The company is also pursuing growth through new contracts and acquisitions, including the Andromeda IDIQ Space Force award and the planned purchase of Goonhilly Earth Station and COMSAT, while keeping full-year revenue guidance at $900 million to $1 billion.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.18), FiscalAI reports. The firm had revenue of $186.73 million for the quarter, compared to analysts' expectations of $202.95 million.

Here are the key takeaways from Intuitive Machines' conference call:

• Intuitive Machines reported a record Q1 with revenue of $186.7 million, gross profit of $30.1 million, and positive adjusted EBITDA of $2.7 million. Management said the quarter also ended with a record $1.1 billion backlog, supported by more than $400 million in new bookings.
• The company highlighted major growth catalysts, including the Andromeda IDIQ award from the U.S. Space Force, a 10-year vehicle with an anticipated ceiling value of $6.24 billion. Management said the award reinforces the company’s push into national security space and GEO capabilities.
• Intuitive Machines announced a definitive agreement to acquire Goonhilly Earth Station and its U.S. subsidiary COMSAT, which it expects to close in the third quarter pending approvals. The deal is intended to expand the company’s ground-station and space-to-ground network capabilities for lunar, cislunar, and GEO operations.
• NASA’s emerging Ignition framework appears to be creating a larger, more sustained lunar infrastructure market, and management said Intuitive Machines is well positioned across delivery, data relay, and mobility. The company pointed to upcoming opportunities such as CS-8, updated Lunar Terrain Vehicle awards, and CLPS 2.0 as key future demand drivers.
• The company maintained its full-year guidance of $900 million to $1 billion in revenue and expects positive adjusted EBITDA for 2026. It also noted that quarterly SG&A and free cash flow should improve as one-time acquisition and integration costs fade, although operating cash use and negative free cash flow were elevated in Q1.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR traded down $2.63 during trading on Friday, hitting $33.89. The company's stock had a trading volume of 13,576,418 shares, compared to its average volume of 12,774,200. The company has a 50-day moving average of $23.10 and a 200-day moving average of $17.71. Intuitive Machines has a 12 month low of $7.78 and a 12 month high of $37.85. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of -45.80 and a beta of 1.47.

Wall Street Analysts Forecast Growth

LUNR has been the topic of a number of recent analyst reports. Roth Mkm raised their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a "buy" rating in a report on Friday, April 17th. KeyCorp raised their price target on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Finally, B. Riley Financial raised their price target on shares of Intuitive Machines to $45.00 and gave the company a "buy" rating in a report on Friday. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.75.

More Intuitive Machines News

Here are the key news stories impacting Intuitive Machines this week:

• Positive Sentiment: Canaccord raised its price target on Intuitive Machines to $41, signaling increased confidence in the company’s long-term upside tied to NASA lunar infrastructure work and potential defense-related opportunities. Canaccord Just Hiked Intuitive Machines Price Target to $41: NASA Moon Base, Golden Dome Power Bull Case
• Positive Sentiment: Intuitive Machines won a U.S. Space Force surveillance contract, adding to its backlog and reinforcing demand for its space and defense services. Intuitive Machines stock gains on securing US Space Force surveillance contract
• Positive Sentiment: The company reported record quarterly revenue, gross margin, positive adjusted EBITDA, and a record $1.1 billion backlog, which supports the bull case for future growth despite the earnings miss. Intuitive Machines Reports First Quarter 2026 Financial Results; Posts Record Quarterly Revenue, Gross Margin, and Positive Adjusted EBITDA along with Record Quarter-end Backlog of $1.1 Billion
• Positive Sentiment: The planned acquisition of Goonhilly Earth Station and COMSAT could expand Intuitive Machines’ space-to-Earth communications network and improve its competitive position. Intuitive Machines to Acquire Goonhilly Earth Station and COMSAT
• Neutral Sentiment: Several articles highlighted the stock’s huge recent run and compared it with other space names, suggesting momentum remains strong but valuations may now be more sensitive to execution. Better Space Stock: Firefly Aerospace vs. Intuitive Machines
• Negative Sentiment: The Q1 report missed analyst estimates on both EPS and revenue, which is pressuring the stock and raising questions about near-term execution. Intuitive Machines earnings report
• Negative Sentiment: Despite the strong headline growth, some coverage emphasized that the stock sold off after the earnings release because investors focused on the miss rather than the improved EBITDA and backlog. Intuitive Machines Posts Stellar Earnings. Why the Space Stock Is Diving to Earth.

Insider Buying and Selling at Intuitive Machines

In other news, CFO Peter Mcgrath sold 24,554 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the transaction, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. This represents a 5.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total transaction of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at $65,631,743.04. This trade represents a 7.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 906,297 shares of company stock worth $19,922,455 over the last quarter. Company insiders own 54.10% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. Sunbelt Securities Inc. raised its stake in Intuitive Machines by 144.8% during the 4th quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company's stock worth $48,000 after acquiring an additional 1,738 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Intuitive Machines during the 4th quarter worth approximately $56,000. Quarry LP raised its stake in Intuitive Machines by 151.4% during the 3rd quarter. Quarry LP now owns 6,457 shares of the company's stock worth $68,000 after acquiring an additional 3,889 shares during the period. Invesco Ltd. raised its stake in Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company's stock worth $120,000 after acquiring an additional 2,643 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Intuitive Machines during the 3rd quarter worth approximately $123,000. Institutional investors own 72.21% of the company's stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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