NASDAQ : LUNR
Intuitive Machines, Inc. — Financial statements
Industrials · Aerospace & Defense · United States
Last price 10.67 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.44B
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Financial statements
Intuitive Machines, Inc. (LUNR) reported revenue of 490.12M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 490.12M | 210.06M | 228.00M | 79.55M | 85.95M | 72.55M |
| Cost of Revenue | 409.99M | 201.07M | 225.23M | 103.99M | 75.51M | 100.31M |
| Gross Profit | 80.13M | 8.99M | 2.77M | -24.44M | 10.43M | -27.76M |
| Selling, General & Admin | 142.27M | 92.62M | 53.26M | 34.34M | 14.87M | 9.29M |
| Operating Expenses | 184.41M | 96.22M | 55.12M | 35.71M | 15.94M | 10.13M |
| Operating Income | -104.28M | -87.23M | -52.35M | -60.16M | -5.51M | -37.89M |
| Interest Expense | -13.45M | -4.18M | -92.00K | -823.00K | -836.00K | -224.00K |
| Interest & Investment Income | 13.26M | 15.27M | 272.00K | |||
| Other Non Operating Income (Expenses) | -45.38M | 8.47M | -169.54M | 5.87M | -85.00K | 660.00K |
| EBT Excluding Unusual Items | -149.85M | -67.66M | -221.72M | -55.11M | -6.43M | -37.45M |
| Asset Writedown | -5.04M | -964.00K | ||||
| Other Unusual Items | -3.27M | -35.22M | -120.12M | 72.73M | 1.81M | |
| Pretax Income | -181.01M | -102.88M | -346.88M | 16.66M | -6.43M | -35.65M |
| Income Tax Expense | 3.97M | 3.96M | 37.00K | 40.00K | -23.00K | 2.00K |
| Earnings From Continuing Operations | -184.98M | -106.85M | -346.92M | 16.62M | -6.41M | -35.65M |
| Minority Interest in Earnings | 54.44M | 23.55M | 63.51M | 45.14M | ||
| Net Income | -130.55M | -83.29M | -283.41M | 61.76M | -6.41M | -35.65M |
| Preferred Dividends & Other Adjustments | 647.00K | 616.00K | 896.00K | -49.28M | -6.41M | |
| Net Income to Common | -131.20M | -83.91M | -284.31M | 111.04M | -35.65M | |
| Shares Outstanding (Basic) | 136.82M | 115.43M | 61.41M | 17.65M | 122.50M | 122.50M |
| Shares Outstanding (Diluted) | 136.82M | 115.43M | 61.41M | 25.56M | 122.50M | 122.50M |
| EPS (Basic) | -0.96 | -0.73 | -4.63 | 6.29 | -0.29 | |
| EPS (Diluted) | -0.96 | -0.73 | -4.63 | 2.42 | -0.29 | |
| Free Cash Flow | -187.75M | -55.95M | -67.70M | -75.19M | -15.62M | -19.74M |
| Free Cash Flow Per Share | -1.37 | -0.48 | -1.10 | -2.94 | -0.13 | -0.16 |
| Gross Margin | 16.35% | 4.28% | 1.21% | -30.73% | 12.14% | -38.26% |
| Operating Margin | -21.28% | -41.53% | -22.96% | -75.62% | -6.41% | -52.22% |
| Profit Margin | -26.77% | -39.95% | -124.70% | 139.59% | -49.14% | |
| Free Cash Flow Margin | -38.31% | -26.64% | -29.69% | -94.52% | -18.18% | -27.21% |
| EBITDA | -74.37M | -83.92M | -50.49M | -58.78M | -4.43M | -37.05M |
| EBITDA Margin | -15.17% | -39.95% | -22.15% | -73.89% | -5.16% | -51.07% |
| D&A For EBITDA | 29.91M | 3.31M | 1.86M | 1.38M | 1.07M | 840.00K |
| EBIT | -104.28M | -87.23M | -52.35M | -60.16M | -5.51M | -37.89M |
| EBIT Margin | -21.28% | -41.53% | -22.96% | -75.62% | -6.41% | -52.22% |
| Effective Tax Rate | 0.24% | |||||
| Revenue as Reported | 490.12M | 210.06M | 228.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 367.35M | 582.61M | 207.61M | 4.50M | 25.76M | 29.29M |
| Cash & Short-Term Investments | 367.35M | 582.61M | 207.61M | 4.50M | 25.76M | 29.29M |
| Receivables | 170.59M | 24.43M | 79.35M | 24.01M | 8.28M | 5.23M |
| Prepaid Expenses | 20.64M | 9.05M | 4.16M | 3.04M | 6.88M | 1.19M |
| Restricted Cash | 11.67M | 2.73M | 2.04M | 62.00K | 62.00K | 62.00K |
| Total Current Assets | 662.82M | 618.81M | 293.16M | 31.61M | 40.99M | 35.77M |
| Property, Plant & Equipment | 337.41M | 105.40M | 62.24M | 54.30M | 26.00M | 7.68M |
| Goodwill | 379.22M | 18.70M | ||||
| Other Intangible Assets | 297.07M | 12.97M | ||||
| Long-Term Deferred Tax Assets | 7.00K | |||||
| Other Long-Term Assets | 935.00K | 1.28M | ||||
| Total Assets | 1.89B | 757.15M | 355.40M | 85.91M | 67.00M | 43.45M |
| Accounts Payable | 64.60M | 22.20M | 17.35M | 16.77M | 6.08M | 2.66M |
| Accrued Expenses | 53.88M | 29.25M | 14.20M | 9.27M | 442.00K | 218.00K |
| Short-Term Debt | 2.25M | 493.00K | ||||
| Current Portion of Long-Term Debt | 23.16M | 8.00M | 16.10M | 12.11M | ||
| Current Portion of Leases | 25.13M | 10.51M | 2.06M | 4.86M | 725.00K | 514.00K |
| Current Income Taxes Payable | 143.00K | 143.00K | 43.00K | 20.00K | ||
| Current Unearned Revenue | 201.95M | 57.37M | 65.18M | 41.37M | 56.66M | 49.63M |
| Other Current Liabilities | 28.71M | 5.35M | 755.00K | 15.18M | 3.29M | |
| Total Current Liabilities | 399.83M | 124.83M | 98.83M | 81.53M | 95.18M | 68.42M |
| Long-Term Debt | 362.59M | 335.33M | 3.86M | |||
| Long-Term Leases | 68.32M | 26.31M | 35.32M | 30.62M | 5.08M | 2.37M |
| Long-Term Unearned Revenue | 1.64M | 6.34M | 14.33M | 2.19M | 10.53M | |
| Other Long-Term Liabilities | 94.65M | 60.63M | 203.00M | 25.33M | 18.31M | 13.97M |
| Total Liabilities | 975.76M | 553.45M | 351.48M | 137.48M | 124.62M | 95.29M |
| Common Stock | 23.00K | 18.00K | 16.00K | 9.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 14.97M | 14.34M | ||||
| Retained Earnings | -257.15M | -721.46M | -996.45M | -248.62M | -72.59M | -66.18M |
| Treasury Stock | -33.52M | -33.52M | -12.82M | -12.82M | ||
| Total Common Equity | -290.65M | -754.96M | -1.01B | -261.44M | -57.62M | -51.84M |
| Minority Interest | 1.20B | 952.05M | 1.01B | 181.66M | ||
| Shareholders' Equity | 911.52M | 203.70M | 3.92M | -51.57M | -57.62M | -51.84M |
| Total Liabilities & Equity | 1.89B | 757.15M | 355.40M | 85.91M | 67.00M | 43.45M |
| Total Debt | 481.45M | 372.16M | 37.38M | 43.97M | 25.76M | 14.99M |
| Net Cash (Debt) | -114.09M | 210.45M | 170.23M | -39.47M | 14.30M | |
| Net Cash Per Share | -0.83 | 1.82 | 2.77 | -1.54 | 0.12 | |
| Filing Date Shares Outstanding | 173.23M | 159.37M | 115.73M | 51.08M | 122.51M | 122.50M |
| Total Common Shares Outstanding | 169.53M | 121.28M | 100.61M | 21.03M | 122.51M | 122.50M |
| Working Capital | 262.99M | 493.98M | 194.33M | -49.92M | -54.19M | -32.65M |
| Book Value Per Share | -1.71 | -6.22 | -10.03 | -12.43 | -0.47 | -0.42 |
| Tangible Book Value | -966.93M | -786.63M | -1.01B | -261.44M | -57.62M | -51.84M |
| Tangible Book Value Per Share | -5.70 | -6.49 | -10.03 | -12.43 | -0.47 | -0.42 |
| Machinery | 118.18M | 20.81M | 10.55M | 7.43M | 4.81M | 4.16M |
| Construction In Progress | 133.70M | 54.96M | 17.12M | 13.79M | 17.75M | 2.28M |
| Leasehold Improvements | 35.41M | 336.00K | 208.00K | 1.54M | 1.53M | |
| Order Backlog | 213.07M | 328.35M | 268.57M | 201.95M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -130.55M | -83.29M | -283.41M | 10.14M | -6.41M | -35.65M |
| Depreciation & Amortization | 29.91M | 3.31M | 1.86M | 1.38M | 1.07M | 840.00K |
| Other Amortization | 2.05M | 1.27M | ||||
| Loss (Gain) From Sale of Assets | 6.00K | |||||
| Asset Writedown & Restructuring Costs | 5.04M | 964.00K | ||||
| Stock-Based Compensation | 22.58M | 8.61M | 8.80M | 4.27M | 624.00K | 318.00K |
| Provision & Write-off of Bad Debts | 3.65M | 3.43M | 440.00K | -836.00K | 836.00K | |
| Other Operating Activities | -8.29M | 7.52M | 227.46M | -72.56M | 97.00K | -2.33M |
| Change in Accounts Receivable | -10.48M | 52.72M | -56.42M | -14.25M | -3.88M | 2.74M |
| Change in Inventory | -3.79M | |||||
| Change in Accounts Payable | -3.45M | -3.13M | -4.26M | 18.53M | 3.65M | -9.08M |
| Change in Unearned Revenue | -13.78M | -15.81M | 38.15M | -9.84M | -1.32M | 25.42M |
| Change in Other Net Operating Assets | -14.21M | 11.05M | 4.76M | 16.92M | 6.11M | 1.19M |
| Operating Cash Flow | -126.35M | -14.32M | -57.59M | -45.28M | 784.00K | -16.57M |
| Capital Expenditures | -61.40M | -41.63M | -10.11M | -29.91M | -16.41M | -3.18M |
| Cash Acquisitions | -461.94M | -14.88M | ||||
| Sale (Purchase) of Intangibles | -63.00K | -63.00K | ||||
| Investing Cash Flow | -523.41M | -56.58M | -10.11M | -29.91M | -16.41M | -3.18M |
| Long-Term Debt Issued | 335.51M | 10.00M | 7.95M | 12.17M | ||
| Long-Term Debt Repaid | -18.00M | -12.00M | -108.00K | -63.00K | ||
| Net Debt Issued (Repaid) | 335.51M | 335.51M | -8.00M | -12.00M | 7.84M | 12.11M |
| Issuance of Common Stock | 413.77M | 176.62M | 294.95M | 36.12M | 6.00K | |
| Repurchase of Common Stock | -1.53M | -25.54M | -2.53M | -348.00K | ||
| Common Dividends Paid | -7.95M | |||||
| Other Financing Activities | -65.92M | -40.01M | -11.64M | 12.10M | 4.25M | 13.00M |
| Financing Cash Flow | 681.84M | 446.59M | 272.79M | 53.92M | 12.10M | 25.11M |
| Net Cash Flow | 32.08M | 375.69M | 205.09M | -21.27M | -3.52M | 5.36M |
| Free Cash Flow | -187.75M | -55.95M | -67.70M | -75.19M | -15.62M | -19.74M |
| Free Cash Flow Margin | -38.31% | -26.64% | -29.69% | -94.52% | -18.18% | -27.21% |
| Free Cash Flow Per Share | -1.37 | -0.48 | -1.10 | -2.94 | -0.13 | -0.16 |
| Levered Free Cash Flow | -80.00M | -18.75M | -62.08M | -84.42M | -4.86M | -13.42M |
| Unlevered Free Cash Flow | -73.36M | -17.12M | -62.02M | -83.90M | -4.34M | -13.28M |
| Cash Interest Paid | 53.00K | 408.00K | 1.92M | |||
| Cash Income Tax Paid | 43.00K | 35.00K | 613.00K | 35.00K | ||
| Change in Working Capital | -45.70M | 44.84M | -17.77M | 11.36M | 4.55M | 20.25M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.44B | 1.94B | 1.66B | 53.73M | 412.19M | 397.35M |
| Enterprise Value | 2.56B | 2.33B | 2.10B | 351.33M | 426.06M | |
| Last Close Price | 10.67 | 16.23 | 18.16 | 2.56 | 10.00 | 9.64 |
| PE Ratio | 0.48 | |||||
| Forward PE | 23.75 | 23.75 | ||||
| PS Ratio | 4.98 | 9.22 | 7.28 | 0.68 | 4.80 | 5.48 |
| PB Ratio | 2.68 | 9.51 | 423.01 | -1.04 | -7.15 | -7.66 |
| P/OCF Ratio | 525.75 | |||||
| EV/Sales Ratio | 5.22 | 11.11 | 9.21 | 4.42 | 4.96 | |
| Debt / Equity Ratio | 0.53 | 1.83 | 9.53 | -0.85 | -0.45 | -0.29 |
| Net Debt / Equity Ratio | 0.12 | -1.03 | -43.41 | -0.77 | 0.28 | |
| Net Debt / EBITDA Ratio | -1.53 | 2.51 | 3.37 | -0.67 | 0.39 | |
| Net Debt / FCF Ratio | -0.61 | 3.76 | 2.52 | -0.53 | 0.72 | |
| Asset Turnover | 0.41 | 0.38 | 1.03 | 1.04 | 1.56 | 1.78 |
| Quick Ratio | 1.34 | 4.86 | 2.90 | 0.35 | 0.36 | 0.51 |
| Current Ratio | 1.66 | 4.96 | 2.97 | 0.39 | 0.43 | 0.52 |
| Return on Equity (ROE) | -30.77% | -102.92% | ||||
| Return on Assets (ROA) | -5.52% | -9.80% | -14.83% | -49.18% | -6.23% | -58.12% |
| Return on Invested Capital (ROIC) | -10.35% | |||||
| Return on Capital Employed (ROCE) | -7.00% | -13.80% | -20.40% | -1,375.00% | 19.50% | 151.70% |
| Earnings Yield | -8.99% | -4.30% | -17.09% | 114.96% | -1.55% | -8.97% |
| FCF Yield | -7.69% | -2.89% | -4.08% | -139.95% | -3.79% | -4.97% |
| Payout Ratio | 12.88% | |||||
| Buyback Yield / Dilution | -44.58% | -87.96% | -140.22% | 79.13% | -0.00% |