Intuitive Machines (LUNR) Beats Q1 Revenue Expectations, Eyes Growth

Intuitive Machines, Inc. (NASDAQ: LUNR), a prominent player in space technology and infrastructure, has reported its financial results for the first quarter of 2025. The company not only exceeded expectations but also laid down a promising blueprint for future performance.

Intuitive Machines Reports First-Quarter with $62.5M in Revenue, Higher than Expected

Intuitive Machines delivered a robust performance in the first quarter of 2025, achieving $62.5 million in revenue, which surpassed the expected $59.42 million. This 14% increase from the previous quarter was fueled by the company’s strategic execution across key programs such as CLPS, LTVS, and NSNS.

The company’s gross margin expanded to 11%, translating to $6.7 million, marking the third consecutive quarter of positive gross margin. This expansion was largely driven by efficient program execution and a shift towards higher-margin service businesses.

The company also reported a positive operating cash flow of $19.4 million, with capital expenditures amounting to $6.1 million, resulting in a positive free cash flow of $13.3 million. This financial performance was primarily attributed to the timing of milestone payments and gross margin enhancements.

Moreover, Intuitive Machines ended the quarter with a strong cash position of $373.3 million, following the completion of the warrant redemption process, which significantly streamlined its capital structure.

CEO Steve Altemus emphasized the company’s focus on execution and innovation, which has allowed it to stretch the federal dollar through scalable solutions.

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Intuitive Machines Sets Revenue Target Between $250 to $300 Million for Full-Year 2025

Looking ahead, Intuitive Machines has set an ambitious revenue target for the full year of 2025, ranging from $250 million to $300 million. The company anticipates achieving a positive run-rate adjusted EBITDA by the end of the year, with expectations of positive adjusted EBITDA in 2026. This optimistic outlook is supported by the company’s strategic initiatives and diversification into adjacent markets like National Security Space and other non-lunar domains.

Intuitive Machines’ future guidance is underpinned by its ongoing projects and contract wins. The company’s backlog as of March 31, 2025, stood at $272.3 million, reflecting a decrease due to continued performance on existing contracts. However, new awards, particularly the OMES III contract and other federal services contracts, have partially offset this decline. The company is poised to leverage its track record to expand its infrastructure and data services offerings across the space economy.

The company remains committed to driving long-term sustainable shareholder value through its business strategy and plans for revenue generation. Intuitive Machines is also focused on enhancing its liquidity position and strengthening its balance sheet to support strategic initiatives.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.