Shares of Intuitive Machines (NASDAQ: LUNR) surged 30% on Monday after the space technology firm reported impressive revenue growth and a substantial increase in its backlog.
The rebound comes just two weeks after the company’s lunar lander mission ended in a mishap, which had caused the stock to plummet.
In its latest earnings report, Intuitive Machines posted fourth-quarter revenue of $54.7 million, up nearly 80% year-over-year. However, rising costs weighed on profitability, with adjusted EBITDA falling to a negative $11.2 million, a 146% drop.
Looking at the full year of 2024, Intuitive Machines saw revenue hit $228 million—almost triple the $79.6 million recorded in 2023. The company also ended the year with a record backlog of $328.3 million, marking a 22% year-over-year increase. This growth was largely driven by $303.7 million in new contracts, predominantly from the National Aeronautics and Space Administration (NASA), and task order modifications to existing agreements.
CEO Firm Expanding Reach Beyond NASA
CEO Steve Altemus expressed confidence in the company’s future, noting that its “proven technologies and expertise” are driving expansion beyond NASA and cislunar space, allowing it to tap into new markets and attract new customers.
Reflecting this optimism, Intuitive Machines provided strong forward guidance. The company expects full-year 2025 revenue to range between $250 million and $300 million, with a path toward achieving positive run-rate adjusted EBITDA by year-end. Additionally, it forecasts positive adjusted EBITDA for the full year 2026.
While the stock had lost half its value following the lunar mission failure, Monday’s surge has helped it regain ground. Despite recent volatility, shares of Intuitive Machines (NASDAQ: LUNR) remain up 64.5% over the past year.
