Intuitive Machines, Inc.
Business
Intuitive Machines, Inc. is a space infrastructure and services company that builds spacecraft, satellites, and landers; connects deployed assets into communications and data relay networks; and operates mission-critical infrastructure and services. The company serves civil (NASA), national security (DoD, Space Development Agency), and commercial customers across low Earth orbit, geostationary orbit, cislunar space, and deep space. Its integrated Build–Connect–Operate model combines spacecraft manufacturing and delivery with persistent network connectivity and long-duration operational services, including lunar cargo delivery, satellite manufacturing, navigation services, and data relay systems.
Summary from 10-K filed 2026-03-19
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Service revenue | 207 | 228 | — | — | — | |
| Grant revenue | 3 | 0 | — | — | — | |
| Total revenues | 210 | 228 | — | — | — | |
| Depreciation and amortization | 4 | 2 | — | — | — | |
| Impairment of property and equipment | 0 | 5 | 1 | 0 | — | |
| General and administrative expense (excluding depreciation and amortization) | 93 | 53 | 34 | 15 | — | |
| Total operating expenses | 297 | 285 | 141 | 91 | — | |
| Operating loss | −87 | −57 | −61 | −6 | −491,341 | |
| Interest income | 15 | 272,000 | — | 5 | 5,798 | |
| Interest expense | −4 | −92,000 | — | — | — | |
| Change in fair value of earn-out liabilities | −33 | −120 | — | — | — | |
| Change in fair value of warrant liabilities | 8 | −78 | 15 | 0 | — | |
| Change in fair value of contingent consideration liabilities | −2 | 0 | 66 | 0 | — | |
| Loss on issuance of securities | 0 | −93 | −7 | 0 | — | |
| Other income, net | 91,000 | 1 | −483,000 | 6,000 | — | |
| Total other expense, net | −16 | −289 | 71 | −921,000 | — | |
| Loss before income taxes | −103 | −347 | 10 | −6 | — | |
| Income tax expense | −4 | −37,000 | −40,000 | 23,000 | — | |
| Net loss | −107 | −347 | 10 | −6 | — | |
| Net loss attributable to redeemable noncontrolling interest | −25 | −67 | −45 | — | — | |
| Net income attributable to noncontrolling interest | 2 | 3 | 0 | — | — | |
| Net loss attributable to the Company | −83 | −283 | 62 | −190,408 | −315,511 | |
| Less: Preferred dividends | −616,000 | −896,000 | −2 | 0 | — | |
| Net income (loss) attributable to Class A common shareholders - basic | −84 | −284 | 59 | 0 | — | |
| Net income (loss) attributable to Class A common shareholders - diluted | −84 | −284 | 59 | 0 | — | |
| Net income (loss) per Class A common share - basic (in dollars per share) | −0.73 | −4.63 | 3.37 | — | −0.02 | |
| Net income (loss) per Class A common share - diluted (in dollars per share) | −0.73 | −4.63 | 2.42 | — | — | |
| Weighted average shares outstanding - basic (in shares) | 115 | 61 | 18 | — | 9 | |
| Weighted average shares outstanding - diluted (in shares) | 115 | 61 | 26 | — | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 583 | 208 | 4 | 26 | 359,610 | |
| Restricted cash | 3 | 2 | 62,000 | 62,000 | — | |
| Trade accounts receivable, net of allowance for credit losses of $3,295 and $0, respectively | 12 | 45 | 17 | 1 | — | |
| Contract assets | 12 | 35 | 7 | 7 | — | |
| Prepaid and other current assets | 9 | 4 | 3 | 7 | — | |
| Total current assets | 619 | 293 | 32 | 41 | 835,142 | |
| Property and equipment, net | 69 | 23 | 18 | 21 | — | |
| Intangible assets, net | 13 | 0 | — | — | — | |
| Goodwill | 19 | 0 | — | — | — | |
| Operating lease right-of-use assets | 37 | 39 | 36 | 5 | — | |
| Finance lease right-of-use assets | 94,000 | 114,000 | 95,000 | 0 | — | |
| Other assets | 1 | 0 | — | — | — | |
| Total assets | 757 | 355 | 86 | 67 | 331 | |
| Contract liabilities, current | 57 | 65 | 41 | 57 | — | |
| Operating lease liabilities, current | 10 | 2 | 5 | 725,000 | — | |
| Finance lease liabilities, current | 48,000 | 37,000 | 25,000 | 0 | — | |
| Other current liabilities | 33 | 11 | 5 | 15 | — | |
| Total current liabilities | 125 | 99 | 82 | 95 | 219,453 | |
| Long-term debt | 335 | 0 | 0 | 4 | — | |
| Contract liabilities, non-current | 6 | 14 | 0 | 2 | — | |
| Operating lease liabilities, non-current | 26 | 35 | 31 | 5 | — | |
| Finance lease liabilities, non-current | 20,000 | 63,000 | 67,000 | 0 | — | |
| Earn-out liabilities | 0 | 134 | — | — | — | |
| Warrant liabilities | 60 | 69 | 11 | — | — | |
| Other long-term liabilities | 240,000 | 62,000 | 4,000 | 0 | — | |
| Total liabilities | 553 | 351 | 137 | 125 | 12 | |
| Commitments and contingencies (Note 15) | — | — | — | — | — | |
| Series A preferred stock subject to possible redemption, $0.0001 par value, 25,000,000 shares authorized, 5,000 and 5,000 shares issued and outstanding | 7 | 6 | 28 | 0 | 316 | |
| Redeemable noncontrolling interests | 952 | 1,006 | 182 | 0 | — | |
| Treasury stock, at cost, 2,191,080 shares | −34 | −13 | −13 | 0 | — | |
| Paid-in capital | 0 | 0 | 0 | 15 | 4 | |
| Accumulated deficit | −721 | −996 | −249 | −73 | −315,511 | |
| Total shareholders deficit attributable to the Company | −755 | −1,009 | −261 | −51 | −52 | |
| Noncontrolling interests | 517,000 | 1 | 0 | — | — | |
| Total shareholders deficit | −754 | −1,008 | −261 | — | — | |
| Total liabilities, mezzanine equity and shareholders deficit | 757 | 355 | 86 | 67 | 331 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Bad debt expense | 3 | 440,000 | −836,000 | 836,000 | — | |
| Amortization of debt discount and issuance costs | 982,000 | 0 | — | — | — | |
| Share-based compensation expense | 9 | 9 | 4 | 624,000 | — | |
| Deferred income taxes | 4 | 0 | 7,000 | −7,000 | — | |
| Other | 308,000 | 58,000 | 43,000 | 13,000 | — | |
| Trade accounts receivable, net | 30 | −28 | −15 | 1 | — | |
| Contract assets | 22 | −28 | 490,000 | −5 | — | |
| Prepaid expenses | −6 | −481,000 | −1 | −6 | −475,532 | |
| Other assets, net | 3 | 1 | 1 | −3 | −326,032 | |
| Accounts payable and accrued expenses | −2 | −1 | 14 | 3 | — | |
| Accounts payable affiliated companies | −1 | −3 | 4 | 225,000 | — | |
| Contract liabilities current and long-term | −16 | 38 | −10 | −1 | — | |
| Other liabilities | 15 | 4 | 17 | 15 | — | |
| Net cash used in operating activities | −14 | −58 | −45 | 784,000 | −1 | |
| Purchase of property and equipment | −42 | −10 | −30 | −16 | — | |
| Purchase of intangible assets | −63,000 | 0 | — | — | — | |
| Acquisition of businesses, net of cash acquired | −15 | 0 | — | — | — | |
| Net cash used in investing activities | −57 | −10 | −30 | −16 | −330 | |
| Proceeds from issuance of convertible notes, net of discount | 336 | 0 | — | — | — | |
| Purchase of capped call transactions | −37 | 0 | — | — | — | |
| Payment of debt issuance costs | −929,000 | 0 | — | — | — | |
| Proceeds from issuance of securities | 0 | 233 | 20 | 6,000 | — | |
| Transaction costs | 0 | −9 | −9 | 0 | — | |
| Warrants exercised | 177 | 61 | 16 | 0 | — | |
| Redemption of warrants | −66,000 | 0 | — | — | — | |
| Repurchase of Class A Common Stock | −21 | 0 | — | — | — | |
| Proceeds from borrowings | 0 | 10 | 0 | 8 | — | |
| Repayment of loans | 0 | −18 | −12 | −108,000 | — | |
| Stock option exercises | 0 | 300,000 | 0 | — | — | |
| Distributions to noncontrolling interests | −2 | −2 | 686,000 | 0 | — | |
| Payment of withholding taxes from share-based awards | −5 | −3 | −348,000 | — | — | |
| Net cash provided by financing activities | 447 | 273 | 54 | 12 | 331 | |
| Net increase in cash, cash equivalents and restricted cash | 376 | 205 | −21 | −4 | — | |
| Cash paid for interest | 0 | 408,000 | 2 | 1 | — | |
| Cash paid for income taxes, net of income tax refunds | 35,000 | 613,000 | 35,000 | 0 | — | |
| Accrued capital expenditures | 7 | 2 | 0 | −38,000 | — | |
| Class A Common Stock issued in acquisition, at fair value | 12 | 0 | — | — | 13,612 | |
| Contingent consideration assumed at acquisition, Class A Common Stock | 3 | 0 | — | — | — | |
| Conversion of Series A preferred stock (Note 10) | 0 | 23 | 0 | — | — | |
| Preferred dividends | −616,000 | −896,000 | −2 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Intuitive Machines, Inc.'s CIK number?
Intuitive Machines, Inc.'s SEC CIK number is 0001844452 (1844452). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Intuitive Machines, Inc.'s SEC filings?
All of Intuitive Machines, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Intuitive Machines, Inc. last report earnings?
Intuitive Machines, Inc. (LUNR) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-034807). This is Intuitive Machines, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Intuitive Machines, Inc.'s most recent earnings 8-K?
Intuitive Machines, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001628280-26-034807. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Intuitive Machines, Inc.'s latest earnings 8-K →
Look up any company's CIK number →