Intuitive Machines, Inc. (NASDAQ: LUNR) has reported its financial results for the second quarter ended June 30, 2025. The company achieved $50.3 million in revenue during the second quarter, marking a substantial 21% increase compared to the same period in the prior year.
Key highlights from the report include the signing of a purchase agreement to acquire KinetX, an industry-leading space navigation and flight dynamics software company. This strategic move positions Intuitive Machines for managing constellations across commercial, civil, and national security customers.
The company also made significant strides in its production capabilities, expanding its footprint at the Houston Spaceport by 140,000 square feet to support in-house satellite and spacecraft production, testing, and mission operations. Additionally, Intuitive Machines achieved a debt-free status at the end of the second quarter, holding $345 million in cash, which strengthens its balance sheet and provides ample liquidity for current operations and future growth initiatives.
Looking ahead, Intuitive Machines anticipates full-year 2025 revenue to align near the low-end of the previous outlook, with additional opportunities expected in the latter part of the year to support revenue close to the prior mid-point of $275 million. The company also continues to expect positive adjusted EBITDA in 2026.
In addition to financial metrics, Intuitive Machines has included certain non-GAAP financial measures in its report. Adjusted EBITDA, a key performance measure used by the management team, is calculated as net income (loss) excluding results from non-operating sources. The company believes this measure is helpful in highlighting trends in its operating results and is frequently used by analysts, investors, and other interested parties to evaluate companies in the industry.
Intuitive Machines also defines free cash flow as net cash (used in) provided by operating activities less purchases of property and equipment, considering it a meaningful indicator of liquidity that provides information to management and investors about the amount of cash generated from operations that can be used for strategic initiatives.
The company has included contracted backlog as another important metric, which is defined as the total estimate of revenue expected to be realized in the future as a result of performing work on awarded contracts, less the amount of revenue previously recognized. Intuitive Machines monitors its backlog as a forward-looking indicator of potential sales, which can be helpful to investors in evaluating the performance of its business.
The market has reacted to these announcements by moving the company's shares -8.46% to a price of $10.50. Check out the company's full 8-K submission here.
