Intuitive Machines Reports Second Quarter 2026 Financial Results; Continues Record Backlog Expansion With Quarter-end Backlog of $1.8 Billion (Form 8-K)

Intuitive Machines Reports Second Quarter 2026 Financial Results; Continues Record Backlog Expansion With Quarter-end Backlog of $1.8 Billion

Houston, TX, August 13, 2026 -- Intuitive Machines, Inc. (Nasdaq: LUNR, "Intuitive Machines," or the "Company"), a

leading space technology and infrastructure services company, today announced its financial results for the second quarter ended June 30, 2026.

Intuitive Machines CEO Steve Altemus said, "We delivered a strong quarter, highlighted by revenue over four times Q2 2025 as we executed across our programs, recorded unprecedented bookings and backlog, and positioned the Company for the next phase of growth."

Highlights

•Closed Goonhilly Earth Station and COMSAT acquisition in August to expand our space-to-ground data services network configured to support missions across LEO, MEO, GEO, cislunar, and deep space environments

•Booked $920 million of awards in Q2 with an additional $300 million of awards in Q3 QTD across commercial, civil, and national security space customers

•Signed $600+ million contract for three commercial GEO satellites as commercial demand strength continues

•Awarded additional CLPS lander contract under NASA's Moonbase program, Intuitive Machines' sixth CLPS mission, for a standardized production lander

•Expanded YoY National Security revenue from 3% to 30% in Q2 2026; expect continued growth driven by an award in July for 18 spacecraft to support Accelerated Missile Defense Tranche 3 ("AMDT3") Golden Dome constellation

•Contracted with NASA for two prime lunar reconnaissance awards (Lunar Reconnaissance Orbiter Camera "LROC" and ShadowCam) to lead lunar imaging operations, data storage, data processing, and analytics in support of NASA's Artemis Program / Moonbase Initiatives and commercial lunar missions

Financial Highlights

•Achieved record quarterly revenue of $206 million driven by spacecraft production, CLPS, OMES, and NSNS execution

•Ended Q2 with a strong cash balance of $367 million; Q2 included strategic growth investments through the procurement of advanced inventory that directly resulted in new awards during the quarter; additional investments were made across our ground station network, along with long-lead material purchases for satellites two through five of our lunar constellation, as we look to accelerate NSNS recurring service revenues

•Ended Q2 with record backlog of $1.8 billion, an increase of $1.5 billion from year-end 2025 as Intuitive Machines booked record levels of diverse awards across commercial, civil, and national security space customers

Mr. Altemus continued, "We believe the next era of space will require a next-generation space prime, capable of building spacecraft, connecting them through resilient networks, and operating the resulting infrastructure across civil, commercial, and national security markets. Over the past eighteen months, every strategic decision we have made has been focused on building that next-generation space prime."

Outlook

•Full-year 2026 revenue of $900 million - $1 billion

•Full-year 2026 Adjusted EBITDA positive

Conference Call Information

Intuitive Machines will host a conference call today, August 13, 2026, at 8:30 am Eastern Time to discuss these results. A link to the live webcast of the earnings conference call will be made available on the investors portion of the Intuitive Machines' website at https://investors.intuitivemachines.com.

Following the conference call, a webcast replay will be available through the same link on the investors portion of the Intuitive Machines' website at https://investors.intuitivemachines.com.

Key Business Metrics and Non-GAAP Financial Measures

In addition to the GAAP financial measures set forth in this press release, the Company has included certain financial measures that have not been prepared in accordance with generally accepted accounting principles ("GAAP") and constitute "non-GAAP financial measures" as defined by the SEC. This includes adjusted EBITDA ("Adjusted EBITDA").

Adjusted EBITDA is a key performance measure that our management team uses to assess the Company's operating performance and is calculated as net income (loss) excluding results from non-operating sources including interest income or interest expense from cash deposits, loans, or investments, transaction and integration costs related to acquisitions, gain on extinguishing of debt, share-based compensation, change in fair value instruments, gain or loss on issuance of securities, other income/expense, depreciation, impairment of property and equipment, and provision for income taxes. Intuitive Machines has included Adjusted EBITDA because we believe it is helpful in highlighting trends in the Company's operating results and because it is frequently used by analysts, investors, and other interested parties to evaluate companies in our industry.

Adjusted EBITDA has limitations as an analytical measure, and investors should not consider it in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Other companies, including companies in Intuitive Machines' industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, net income (loss) and our other GAAP results. A reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure is included below under the heading "Reconciliation of GAAP to Non-GAAP Financial Measure."

We define free cash flow as net cash (used in) provided by operating activities less purchases of property and equipment. We believe that free cash flow is a meaningful indicator of liquidity that provides information to management and investors about the amount of cash generated from operations that, after purchases of property and equipment, can be used for strategic initiatives, including continuous investment in our business and strengthening our balance sheet. Free Cash Flow has limitations as a liquidity measure, and you should not consider it in isolation or as a substitute for analysis of our cash flows as reported under GAAP. Some of these limitations are: Free Cash Flow is not a measure calculated in accordance with GAAP and should not be considered in isolation from, or as a substitute for financial information prepared in accordance with GAAP; Free Cash Flow may not be comparable to similarly titled metrics of other companies due to differences among methods of calculation; and Free Cash Flow may be affected in the near to medium term by the timing of capital investments, fluctuations in our growth and the effect of such fluctuations on working capital and changes in our cash conversion cycle. A reconciliation of Free Cash Flow to the most directly comparable GAAP financial measure is included below under the heading "Reconciliation of GAAP to Non-GAAP Financial Measure."

The Company has also included contracted backlog, which is defined as the total estimate of the revenue the Company expects to realize in the future as a result of performing work on awarded contracts, less the amount of revenue the Company has previously recognized. Intuitive Machines monitors its backlog because we believe it is a forward-looking indicator of potential sales which can be helpful to investors in evaluating the performance of its business and identifying trends over time.

About Intuitive Machines

Intuitive Machines is a next-generation space infrastructure company delivering integrated capabilities across spacecraft manufacturing, communications, networks, mission operations, and ground infrastructure to build, connect, and operate systems across Earth orbit, cislunar space, and deep space. Serving commercial, civil, and national security customers, Intuitive Machines is focused on enabling resilient, scalable infrastructure for sustained operations in space.