Contracts and Awards - As of December 31, 2024, the contracted value of Intuitive Machines' Delivery Services pillar includes $430.2 million from NASA CLPS and Tipping Point contracts, $52.4 million from commercial payloads, and $36.3 million from rideshares[36]. - In August 2024, NASA awarded Intuitive Machines a $116.9 million contract to deliver six science and technology payloads to the Moon's South Pole, marking the company's fourth contract award under NASA's CLPS initiative[35]. - In September 2024, NASA awarded Intuitive Machines the sole NSN contract for communication and navigation services with a maximum potential value of $4.82 billion, including initial task orders totaling $150.0 million over the next three years[39]. - Intuitive Machines has received a $30.8 million award for the Lunar Terrain Vehicle (LTV) contract, which is part of NASA's $4.6 billion LTV Services project aimed at supporting the Artemis Campaign[44]. - The company is actively pursuing opportunities with National Security Space customers, driven by the U.S. Space Force's focus on cislunar Space Domain Awareness[32]. - The IX, LLC joint venture was awarded a $5 million Phase 1 contract by NASA and the Department of Energy to develop a Fission Surface Power (FSP) system, with a follow-on contract of $2.9 million awarded in August 2024[46]. - In 2023, the company was awarded the OMES III contract as the prime contractor by NASA, focusing on spacecraft mechanisms and robotics[50]. Operational Achievements - The IM-1 mission successfully landed 9 degrees from the lunar South Pole in March 2024, while the IM-2 mission landed at the southernmost location of the Moon, 5 degrees from the South Pole, demonstrating significant operational capabilities[32]. - The IM-2 mission successfully delivered 3 rideshare customers to trans lunar injection orbit and transmitted over 8GB of data from space[23]. - The company has downloaded over 500 MB of payload customer data from the lunar surface during its missions, showcasing its data transmission capabilities[23]. - The Nova-D lander, currently in development, is designed to support projected payload capacities of 500-2500 kilograms, while the larger Nova-M lander aims to carry approximately 5,000-7,500 kilograms to the lunar surface[35]. - The company is driving the commercialization of the Lunar Transport Vehicle (LTV) to support diverse lunar infrastructure needs, aiming to extend its value beyond Artemis missions[45]. - The company operates under three core pillars: delivery services, data transmission services, and infrastructure as a service, which are integrated to support cislunar and deep space commerce[216]. Financial Performance and Risks - Approximately 90% of the company's revenues for the years ended December 31, 2024, and 2023, came from one major customer, indicating significant customer concentration risk[84]. - The company has experienced growth in a rapidly evolving industry, but its limited operating history makes it difficult to forecast future results and plan for growth[79]. - The company faces intense competition in its markets, which may lead to downward pressure on prices and reduced margins[85]. - Delays in launching satellites and lunar landers are common, with potential significant increases in costs related to these launches impacting financial performance[96][97]. - The market for commercial spaceflight is still emerging, and the company's growth estimates may not materialize as expected[94][95]. - The company must manage growth effectively to avoid operational difficulties that could harm financial results[83]. - Disruptions in U.S. government operations and funding could adversely affect the company's revenues and cash flows[88]. - The company has encountered risks related to cybersecurity, which could lead to increased costs and reputational harm if breaches occur[92][93]. - The company has a history of net operating losses and may continue to incur operating losses for the foreseeable future, necessitating additional capital to sustain operations[98]. - Rising inflation has resulted in increased costs, including higher interest rates and labor costs, which may adversely affect the company's financial condition and results of operations[106]. - The company faces significant risks associated with commercial spaceflight, including the potential for accidents that could lead to loss of life and substantial financial losses[99][100]. - The company is dependent on technology and automated systems, and any failures could negatively impact operations and result in increased costs[108]. - The company may experience delays in revenue generation due to customer defaults or delays in fulfilling contractual obligations, which could adversely affect financial forecasts[107]. - The U.S. government's budget deficit and national debt could adversely impact the company's business, financial condition, and cash flows[117]. - Continued budget pressures may lead to serious negative consequences for the security of the U.S. and the defense industrial base, affecting the company's operations[119]. - The U.S. government could reduce or delay spending on programs in which the company participates, impacting revenue and profitability[120]. Corporate Governance and Structure - Founders control approximately 62% of the combined voting power, which may limit minority stockholders' influence on corporate decisions[171]. - The multi-class capital structure may result in lower or more volatile market prices for Class A Common Stock and could exclude the company from certain stock indices[175]. - The company is classified as a "smaller reporting company," which may affect the attractiveness of its common stock to investors due to reduced reporting requirements[145]. - The company has provisions in its Certificate of Incorporation and By-Laws that could delay or prevent hostile takeovers, potentially depressing the trading price of its Class A Common Stock[176]. - The company is authorized to issue preferred stock, which could dilute the ownership of Class A Common Stock holders and adversely affect their rights[184]. - The company expects to issue additional capital stock in the future, which will result in dilution for existing stockholders[186]. Cybersecurity and Compliance - The company is working towards full implementation of the Cybersecurity Maturity Model Certification (CMMC) 2.0 standards by 2025[194]. - The Board oversees management's processes for identifying and mitigating risks, including cybersecurity risks, to align risk exposure with strategic objectives[192]. - The company has built operational processes to ensure the integrity of its systems against cybersecurity threats[189]. - The company is subject to extensive regulations as a government contractor, including compliance with international standards and federal guidelines[194]. - Compliance with various laws and regulations is critical, and any changes could materially impact the company's operations and financial results[112][114]. Facilities and Expansion - The company has expanded its facilities, including a 100,000 square foot Lunar Production and Operations Center in Houston, Texas, completed in late 2023[61]. - In 2024, the company opened a 22,000 square foot facility in Glen Burnie, Maryland, focusing on mechanisms and robotics for space-flight equipment[196]. - The company launched a 16,000 square foot lunar data analytics facility in Phoenix, Arizona, in 2024, to analyze lunar landing sites and mobility paths[197].

Last year was a breakout period for the space industry, with several small-cap space stocks surging in value and transitioning into mid-cap status, attracting retail and institutional investors. However, 2025 has brought a stark contrast, as risk aversion in U.S. equities has led to sharp declines in high-growth and speculative stocks, including those in the space sector. With several of these stocks attempting to bottom, which ones are best positioned for a potential rebound? Let’s examine the technical se ...

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Financial Data and Key Metrics Changes - In Q4 2024, the company reported revenue of $54.7 million, representing a 79% increase compared to the same quarter of the previous year [33] - The total revenue for the fiscal year reached a record $228 million, exceeding the midpoint of previous guidance [9] - The cash balance at the end of 2024 was $207.6 million, following a successful equity raise, and increased to $385 million as of March 10, 2025, after warrant exercises [10][40] - The company ended the fourth quarter with a contracted backlog of $328.3 million, another record for the company [41] Business Line Data and Key Metrics Changes - OMES revenue for Q4 was $30 million, down about $4 million from Q3 as expected [34] - Gross profit for the quarter was $0.7 million, up from $0.3 million in the prior year, indicating progress towards profitability [34] - Operating loss for Q4 was $13.4 million, compared to a loss of $7.5 million in Q4 2023, primarily due to higher SG&A expenses [34] Market Data and Key Metrics Changes - The company is positioned to expand its customer base into areas like National Security Space, diversifying its role in the space economy [12] - The Near Space Network Services contract has a maximum potential value of $4.8 billion, with initial task orders totaling $150 million [25][41] Company Strategy and Development Direction - The company aims to define the future of its operations and the industry by expanding into new markets and revenue streams, particularly in data transmission services [11][12] - The focus for 2025 includes diversification of customers and markets, with a strong emphasis on data services and leveraging existing technologies for new applications [27][30] - The company is exploring strategic acquisitions and investments in technology innovations to enhance its capabilities [90][91] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and ability to capitalize on new opportunities arising from changes in government acquisition strategies [12][30] - The new administration's focus on commercial service models is seen as beneficial for the company, allowing it to expand its service offerings beyond lunar missions [13][100] - The company anticipates continued growth in revenue, with guidance for 2025 set between $250 million and $300 million [42][43] Other Important Information - The company is actively preparing for its third lunar mission, IM-3, scheduled for next year, which will include deploying data relay satellites [23][24] - The company has appointed James Frelk as Senior Vice President of Data Services to enhance its capabilities in this area [27][116] Q&A Session Summary Question: Future direction of Intuitive Machines - Management discussed the expansion into data services and the potential for the lunar data network to serve multiple customers, including applications for GPS-like capabilities [49][50] Question: Details on the orbital terrain vehicle - The orbital terrain vehicle, named Nebula, is a derivative of the Nova-C lander and is designed to deliver multiple satellites to cislunar space under a government contract [52] Question: Impact of IM-2 mission data on NASA discussions - Management confirmed that the data collected during the IM-2 mission is being reviewed, but no significant changes to the Nova-D design are expected [70] Question: Opportunities in defense technology - The company sees potential in national security space technology, leveraging its existing capabilities for space domain awareness and data relay [92][94] Question: Impact of government efficiency on NASA - Management believes that increased efficiency within NASA could lead to more opportunities for commercial space endeavors, benefiting the company [99][100] Question: Insights on revenue guidance for 2025 - The revenue guidance is supported by existing contracts and potential new opportunities, with a steady rate of revenue expected from the backlog [132] Question: Initial observations from the hot wash review - The hot wash review process is comprehensive, focusing on identifying both successes and areas for improvement, with findings expected to be shared with stakeholders [138]

Group 1 - Intuitive Machines (NASDAQ: LUNR) stock has increased by 25% following the release of its fourth quarter and full-year results [2] - Despite the recent recovery, the stock is still 64.4% below its previous highs after experiencing a 73% decline [2] - The stock price has rebounded by 37.2% since the analyst reiterated a Strong Buy recommendation [2] Group 2 - The investing group, The Aerospace Forum, focuses on identifying investment opportunities within the aerospace, defense, and airline sectors [2] - The analyst provides insights based on a background in aerospace engineering, emphasizing the industry's growth potential [2] - The group offers access to data analytics tools to support investment analysis [2]

Intuitive Machines (LUNR 28.28%) stock is surging Monday following the company's recent quarterly results. The space-tech specialist's share price was up 27% as of 3 p.m. ET.Intuitive Machines published its Q4 report before the market opened this morning, and investors liked what the company had to say about performance in the period and its forward outlook. The company's stock is also getting a boost thanks to bullish momentum for the market at large today.Intuitive Machines stock surges on EBITDA outlookI ...

Financial Data and Key Metrics Changes - In Q4 2024, the company reported revenue of $54.7 million, representing a 79% increase compared to the same quarter of the previous year [33] - The total revenue for the fiscal year reached a record $228 million, exceeding the midpoint of previous guidance [9] - The cash balance at the end of 2024 was $207.6 million, following a successful equity raise, and increased to $385 million by March 10, 2025, after warrant exercises [10][40] - The company ended the year with a contracted backlog of $328.3 million, another record, with expectations to recognize 60% to 65% of this backlog in 2025 [41] Business Line Data and Key Metrics Changes - OMES revenue for Q4 was $30 million, down about $4 million from Q3, as expected [34] - Gross profit for Q4 was $0.7 million, up from $0.3 million in the prior year, indicating progress towards profitability [34] - Operating loss for Q4 was $13.4 million, compared to a loss of $7.5 million in Q4 2023, primarily due to increased SG&A expenses [34] Market Data and Key Metrics Changes - The company is positioned to expand its customer base into areas like National Security Space, diversifying its role in the space economy [12] - The Near Space Network Services contract has a maximum potential value of $4.8 billion, with initial task orders totaling $150 million [25][41] Company Strategy and Development Direction - The company aims to define the future of its operations and the industry by expanding into new markets and revenue streams, particularly in data transmission services [11][12] - The focus for 2025 includes diversification of customers and markets, with a strategic emphasis on higher-margin services [30][41] - The company is exploring M&A opportunities to enhance capabilities and diversify revenue streams [90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and ability to capitalize on new opportunities arising from changes in government acquisition strategies [12][30] - The new administration's emphasis on commercial service models is seen as beneficial for the company's growth prospects [12][100] - The company expects revenue growth in 2025 to range from $250 million to $300 million, driven by existing contracts and new opportunities [42][130] Other Important Information - The company is actively working on the design cycle for the Nova-D delivery vehicle and preparing for upcoming contract awards [68][83] - The IM-2 mission successfully demonstrated Nokia's lunar communication technology, enhancing the company's capabilities in data services [80] Q&A Session Summary Question: Future direction of Intuitive Machines - Management discussed the expansion into data services and the potential for a national asset through the lunar data network [49] Question: Details on the orbital terrain vehicle - The vehicle is a derivative of the Nova-C lander, designed for delivering multiple satellites in cislunar space under a government contract [52] Question: Impact of the new administration on Mars programs - Discussions are ongoing about using the CLPS model for Mars, but the focus remains on lunar missions as a strategic priority [75][101] Question: Cash deployment and M&A pipeline - The company is reviewing M&A opportunities and technology innovations to enhance capabilities and diversify revenue streams [90] Question: Insights on revenue guidance for 2025 - Revenue growth is expected to be steady, driven by existing contracts, with potential upside from new opportunities [130]

Pete McGrath CHIEF FINANCIAL OFFICER Steve Altemus CO -FOUNDER, PRESIDENT & CHIEF EXECUTIVE OFFICER DISCLAIMER AND FORWARD LOOKING STATEMENTS This presentation (and oral statements made regarding the subjects of this presentation) includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are iden ...

Financial Performance - Achieved Q4 2024 revenue of $54.7 million, a 79% increase year-over-year, and full-year revenue of $228.0 million, nearly three times the revenue of 2023[4] - Revenue for the three months ended December 31, 2024, was $54,662 thousand, a significant increase from $30,591 thousand in the same period of 2023, representing an increase of 78.7%[18] - Full-year 2025 revenue outlook projected between $250 million and $300 million[5] - Operating loss for the year ended December 31, 2024, was $(57,396) thousand, compared to $(61,119) thousand in 2023, showing an improvement of 6.5%[18] - Net loss attributable to Class A common shareholders for the year ended December 31, 2024, was $(284,309) thousand, compared to a net income of $59,419 thousand in 2023[18] - Free cash flow for the year ended December 31, 2024, was $(67,698) thousand, slightly improved from $(75,190) thousand in 2023[25] Backlog and Contracts - Reported a record backlog of $328.3 million, representing a 22% year-over-year increase and the highest quarter-ending backlog in the company's history[4] - Backlog increased by $59.8 million to $328,345 thousand as of December 31, 2024, driven by $303.7 million in new awards from NASA contracts[27] Cash and Liquidity - Ended 2024 with $207.6 million in cash, increasing to $385 million as of March 10, 2025, following the completion of the warrant redemption process[4] - Cash and cash equivalents at the end of the period increased to $207,607 thousand from $4,498 thousand in 2023, indicating a substantial liquidity improvement[20] - The company reported a net cash used in operating activities of $(57,587) thousand for the year ended December 31, 2024, compared to $(45,279) thousand in 2023[20] Operating Expenses and Margins - Total operating expenses for the year ended December 31, 2024, were $285,396 thousand, up from $140,670 thousand in 2023, reflecting an increase of 102.2%[18] - Achieved positive gross margin in Q4 and for the full year, marking the second consecutive quarter of positive gross margin[4] Strategic Initiatives - The company is focusing on internal innovation and strategic acquisitions to seek high-return opportunities and expand into new markets[3] - Completed a $125 million upsized offering of Class A common stock and a concurrent private placement with Boryung Corporation[4] - Diversified customer base through a contract to adapt current technologies for a government customer, specifically an in-space orbital transfer vehicle[4] - Executed the southernmost lunar landing on the Moon's South Pole region and accelerated payload operations for various NASA and commercial projects[4] Share-Based Compensation - Share-based compensation expense for the year ended December 31, 2024, was $8,798 thousand, up from $4,273 thousand in 2023, indicating increased compensation costs[22] Liabilities - The change in fair value of earn-out liabilities for the year ended December 31, 2024, was $120,124 thousand, compared to $(66,252) thousand in 2023, highlighting significant volatility in liabilities[22]

HOUSTON, March 24, 2025 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (NASDAQ:LUNR, "Intuitive Machines, " or the "Company")), a leading space technology, infrastructure, and services company, today announced its financial results for the fourth quarter and full-year ended December 31, 2024. Intuitive Machines CEO Steve Altemus said, "Just two years ago, we became a public company with a bold vision for the future. Over the past year, we've deliberately positioned ourselves for long-term success by expanding ...