Core Viewpoint - Intuitive Machines, a lunar landing and exploration vehicle developer, has faced challenges since its public debut but may present a contrarian investment opportunity at current depressed stock levels [1] Company Overview - Intuitive Machines went public in February 2023 through a SPAC merger, initially seeing its stock price rise to a high of $81.99 before falling to $9 [1] - The company primarily generates revenue from long-term contracts with NASA, having completed two lunar landings, Odysseus and Athena [2][3] Recent Developments - Despite technical issues during landings, NASA has deepened its relationship with Intuitive through new contracts, including a $4.82 billion NSNS contract [3][4] - Intuitive is expanding its business model to include ride-sharing services for payload delivery to the moon and plans to acquire Lanteris Space Systems for $800 million to enhance revenue streams [4] Financial Performance - From 2021 to 2024, Intuitive's revenue is projected to grow at a CAGR of 46%, increasing from $73 million to $228 million, although it remains unprofitable on a GAAP basis [5][6] - Analysts expect revenue growth to continue at a CAGR of 25% from 2024 to 2027, reaching $446 million, with adjusted EBITDA turning positive by 2026 [7] Market Position and Future Outlook - The global space economy is expected to grow from $630 billion in 2023 to $1.8 trillion by 2035, positioning Intuitive as a potential leader in this expanding market [11] - If Intuitive can achieve a revenue CAGR of 20% from 2024 to 2035, its market cap could increase over sevenfold to $8.45 billion [12] - The company aims to become a vertically integrated space services provider, enhancing its operational capabilities and financial stability [9][10]