Intuitive Machines Q2 revenue jumps on spacecraft production
Intuitive Machines Q2 revenue jumps on spacecraft production
Overview
US space technology firm's Q2 revenue grew sharply yr/yr but missed analyst expectations
Net loss, operating income, and pretax loss for Q2 all missed analyst estimates
Company closed Goonhilly Earth Station and COMSAT acquisition to expand space-to-ground data services
Outlook
Company sees full-year 2026 revenue of $900 mln to $1 bln
Intuitive Machines expects full-year 2026 Adjusted EBITDA to be positive
Company expects continued growth in national security revenue driven by recent AMDT3 award
Result Drivers
SPACECRAFT PRODUCTION - Co said record Q2 revenue was driven by spacecraft production and execution across CLPS, OMES, and NSNS programs
CONTRACT AWARDS - Co booked $920 mln of awards in Q2 and signed $600+ mln contract for three commercial GEO satellites, citing commercial demand strength
NATIONAL SECURITY EXPANSION - National security revenue grew from 3% to 30% of total in Q2, driven by new awards for missile defense constellation
Company press release: ID:nGNX5jxpqm
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $206.17 mln | $216.33 mln (9 Analysts) |
Q2 Loss Per Share |
| $0.29 |
|
Q2 Net Loss | Miss | $62.84 mln | $13.19 mln (7 Analysts) |
Q2 Operating Income | Miss | -$47.14 mln | -$15.08 mln (9 Analysts) |
Q2 Pretax Loss | Miss | $62.83 mln | $19 mln (8 Analysts) |
Q2 Operating Expenses |
| $253.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the aerospace & defense peer group is "buy"
Wall Street's median 12-month price target for Intuitive Machines Inc is $43.00, about 153.7% above its August 12 closing price of $16.95
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)