Intuitive Machines reported strong Q3 2024 financial results with revenue increasing 359% to $58.5 million, compared to $12.7 million in Q3 2023. The growth was primarily driven by the OMES III contract execution and partially offset by decreases in NASA and commercial payload contracts. The company recorded an operating loss of $13.7 million and net loss of $80.4 million for the quarter.The company achieved a significant milestone in February 2024 when its Nova-C lander became the first U.S. vehicle to softly land on the lunar surface since 1972. During Q3, NASA awarded Intuitive Machines two major contracts: a $116.9 million CLPS contract (IM-4) for lunar payload delivery and the Near Space Network contract with a potential value of $4.82 billion. Total contract backlog increased to $316.2 million as of September 30, 2024.The company...Show More

Intuitive Machines reported strong Q3 2024 financial results with revenue increasing 359% to $58.5 million, compared to $12.7 million in Q3 2023. The growth was primarily driven by the OMES III contract execution and partially offset by decreases in NASA and commercial payload contracts. The company recorded an operating loss of $13.7 million and net loss of $80.4 million for the quarter.The company achieved a significant milestone in February 2024 when its Nova-C lander became the first U.S. vehicle to softly land on the lunar surface since 1972. During Q3, NASA awarded Intuitive Machines two major contracts: a $116.9 million CLPS contract (IM-4) for lunar payload delivery and the Near Space Network contract with a potential value of $4.82 billion. Total contract backlog increased to $316.2 million as of September 30, 2024.The company strengthened its financial position by raising approximately $97.5 million through its ATM program and ended the quarter with $89.6 million in cash. Management believes current cash levels are sufficient to fund operations through at least the next twelve months. The company continues to focus on expanding its lunar mission operations and developing its full space infrastructure capabilities.