Intuitive Machines Stock Sinks on Earnings Even as Revenue Jumps 310%

Dow Jones
Aug 13

Shares of Intuitive Machines fell Thursday after the maker of lunar landers and other space technology posted a surprise second-quarter loss and revenue that was below expectations.

Intuitive Machines stock fell 8.6% to $15.50 in premarket trading on Thursday after ending Wednesday up 2.9%. Shares have gained 37% in August as of the closing bell Wednesday.

The company said Thursday that revenue grew 310% to $206.17 million in the second quarter. That missed Wall Street expectations for $216.3 million, according to FactSet.

Intuitive Machines reported an adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, loss of $13.8 million, narrowing from a $25.47 million loss a year ago. Wall Street was looking for positive adjusted Ebitda of $3.2 million, according to FactSet. Intuitive Machines had adjusted Ebitda of $2.7 million in the first quarter.

The company said its backlog grew to a record $1.8 billion at the end of the second quarter, up from $1.5 billion at the end of fiscal 2025. Intuitive Machines, however, kept its full-year guidance steady with expectations of $900 million to $1 billion in revenue and positive adjusted Ebitda.

Intuitive Machines is still a young company carving out a business in the growing space economy. Sales matter more than earnings.

Still, Wall Street reacted harshly to to the underwhelming earnings report.

 

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