Intuitive Machines (LUNR) Reports 79% Revenue Increase

By Bobby Samwell • Monday, March 24 15:15 • Permanent Link

Intuitive Machines, Inc. (NASDAQ: LUNR) has announced its financial results for the fourth quarter and full-year ended December 31, 2024. The company reported significant achievements and improvements in various key metrics.

Revenue: Intuitive Machines reported $54.7 million in revenue for Q4, representing a remarkable 79% year-over-year increase. The full-year revenue for 2024 reached $228.0 million, nearly three times the revenue generated in 2023.

Backlog: * The company achieved a record backlog of $328.3 million, which marks a 22% increase year-over-year. This is the highest quarter-ending backlog in the company's history.

Cash Balance: * Intuitive Machines ended 2024 with $207.6 million in cash. As of March 10th, the cash balance stood at $385 million following the completion of the warrant redemption process, streamlining the company’s capital structure while substantially reducing the overhang from derivative securities.

Gross Margin: * The company achieved positive gross margin in Q4 and for the full year, marking its second consecutive quarter of positive gross margin.

Future Outlook: The company has set a full-year 2025 revenue outlook of $250 * $300 million. It aims to achieve a positive run-rate adjusted EBITDA by the end of 2025 and positive adjusted EBITDA in 2026.

As a result of these announcements, the company's shares have moved 28.2% on the market, and are now trading at a price of $9.09. Check out the company's full 8-K submission here.

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