NEWS ER
Intuitive Machines Reports Third Quarter 2024 Results
Q3 Highlights
• Awarded $116.9 million contract through NASA's Commercial Lunar Payload Services (CLPS) initiative, marking Intuitive Machines' fourth contract award, more than any other CLPS vendor
• Sole awardee of Near Space Network (NSN) data services contract from NASA with a maximum potential value of $4.82 billion, a transformative step for Intuitive Machines in data transmission for in-space communications and navigation
• Completed vehicle propulsion system hot fire for Intuitive Machines' second lunar mission, representing the most complex integrated test of the vehicle, in preparation for a Q1 launch from the Kennedy Space Center
• Achieved $58.5 million of revenue in Q3, up 359% YoY; $173.3 million year to date, more than double all of 2023
• Improved profitability with $4.1 million of positive gross margin in Q3
• Ended Q3 with $89.6 million in cash, the highest quarter ending cash balance in Company history
• Reported record backlog of $316.2 million, the highest quarter ending backlog in Company history driven primarily by Intuitive Machines' fourth NASA CLPS award; backlog does not yet include the full $150 million of initial task orders for Near Space Network data services
• Awarded $116.9 million contract through NASA's Commercial Lunar Payload Services (CLPS) initiative, marking Intuitive Machines' fourth contract award, more than any other CLPS vendor
• Sole awardee of Near Space Network (NSN) data services contract from NASA with a maximum potential value of $4.82 billion, a transformative step for Intuitive Machines in data transmission for in-space communications and navigation
• Completed vehicle propulsion system hot fire for Intuitive Machines' second lunar mission, representing the most complex integrated test of the vehicle, in preparation for a Q1 launch from the Kennedy Space Center
• Achieved $58.5 million of revenue in Q3, up 359% YoY; $173.3 million year to date, more than double all of 2023
• Improved profitability with $4.1 million of positive gross margin in Q3
• Ended Q3 with $89.6 million in cash, the highest quarter ending cash balance in Company history
• Reported record backlog of $316.2 million, the highest quarter ending backlog in Company history driven primarily by Intuitive Machines' fourth NASA CLPS award; backlog does not yet include the full $150 million of initial task orders for Near Space Network data services
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Salmon Klein : results are actually quite good how comes Moomo said the opposite?
Jaguar8 OP Salmon Klein : I don’t know