Intuitive Machines Is (Almost) a Billion-Dollar Space Business

Core Viewpoint - Intuitive Machines has announced the acquisition of Lanteris for $800 million, which is expected to significantly enhance its revenue and market position in the space industry [2][6][12] Acquisition Details - Intuitive Machines will pay $800 million for Lanteris, with $450 million in cash and $350 million in stock, resulting in approximately 30% dilution for existing shareholders [6][7] - The acquisition is expected to close in Q1 2026 [12] Financial Implications - Intuitive Machines generated $226 million in revenue over the last 12 months, and the addition of Lanteris is projected to increase total revenue to over $850 million annually, implying Lanteris contributes at least $625 million in revenue [8][10] - The price-to-sales (P/S) ratio for Intuitive Machines will decrease from 7.5 to 2 after the acquisition, indicating a favorable valuation for a space stock [9][10] Strategic Benefits - The acquisition is positioned to transform Intuitive Machines from a "lunar company" to a "multi-domain space prime," potentially opening avenues for lucrative contracts in missile defense and high-profile projects like Artemis and Mars missions [11][12]