Intuitive Machines reported first quarter results that fell short of Wall Street expectations, with revenue of $186.7 million missing the analyst consensus of $200.12 million.
The space technology company’s shares fell 3.8% in pre-market trading following the results, reflecting investor disappointment with the quarterly miss despite strong YoY growth.
The company posted an adjusted loss of $0.25 per share, wider than the estimated loss of $0.06 per share. Revenue surged nearly 3x YoY from $62.5 million in the prior year period, driven primarily by the Lanteris acquisition completed on January 13, 2026.
The company provided full-year 2026 revenue guidance of $900 million to $1 billion. The midpoint of $950 million slightly exceeds the analyst consensus of $946 million.
The company achieved record quarterly profitability with $2.7 million in positive adjusted EBITDA and ended the quarter with a record backlog of $1.1 billion, an increase of $842 million from year-end 2025.
"Intuitive Machines continues to execute, grow, and win new business at record pace. Our acquisition of Lanteris has been immediately accretive with the combined entity already creating value," said CEO Steve Altemus.
The company secured $428.9 million in new contracts during the quarter, driven primarily by the Space Development Agency Proliferated Warfighter Space Architecture tranche 3 tracking layer and a $180.4 million CLPS contract from NASA. This marks Intuitive Machines’ fifth CLPS task order, the most among all CLPS vendors.
The company also closed its $800 million acquisition of Lanteris Space Systems and signed a definitive agreement to acquire Goonhilly Earth Station.
Comments