Key Takeaways Intuitive Machines is down 46.4% in three months despite an expanded platform, backlog and customer mix.LUNR exited Q2 2026 with a record $1.8B backlog after booking $920M of awards during the quarter.LUNR faces fixed-price lunar risk, negative adjusted EBITDA and a premium forward price-to-sales ratio. Intuitive Machines, Inc. (LUNR - Free Report) has fallen 46.4% over the past three months even as its operating platform, backlog and customer mix have expanded. The disconnect raises a straightforward question for investors.
The sell-off may look more attractive if contracted growth converts cleanly, but execution, profitability and valuation risks remain substantial. The opportunity therefore depends less on the size of the decline and more on whether operating leverage follows the company’s expanding scale.
Why LUNR’s Backlog Offers a CounterweightIntuitive Machines exited the second quarter of 2026 with a record $1.8 billion backlog after booking $920 million of awards during the quarter. Another $300 million of awards arrived in the third quarter through Aug. 13, adding to the contracted growth base.
The backlog also provides multi-year visibility. Management expects 25-30% of second-quarter backlog to convert to revenues in 2026, 35-40% in 2027 and the remainder thereafter. Its mix spans civil, commercial and national security customers, reducing reliance on a single end market.
Intuitive Machines is Scaling Satellite ProductionThe company now has more than 70 IM-300 spacecraft under contract. It delivered all 16 Space Development Agency Tranche 1 satellites and continues production on later tranches, while higher bus commonality and repeat platforms should help spread engineering and production costs across larger volumes.
The broader market is moving toward similar production scale. L3Harris Technologies (LHX - Free Report) received a U.S. Space Force award for 18 Accelerated Missile Defense Tranche 3 satellites, while Rocket Lab Corporation (RKLB - Free Report) has secured Space Force work to design and manufacture geostationary satellites. That competitive backdrop increases the importance of reliable throughput and cost control.
LUNR Still Faces Fixed-Price Lunar RiskThe lunar business remains a source of margin volatility. Second-quarter operating results included a $14.7 million estimate-at-completion adjustment on IM-4 to accommodate customer payload changes.
That charge shows how fixed-price missions can absorb the cost of engineering changes, integration requirements and schedule shifts. Even as satellite manufacturing improves the business mix, lander programs can still offset margin gains if mission requirements move after pricing has been set.
Valuation Could Limit LUNR’s ReboundLUNR has a forward 12-month price-to-sales ratio of 3.15, above the Zacks sub-industry’s 2.38. That premium matters because the share-price decline has not reset valuation to a clear discount versus peers.
Investors are therefore paying for meaningful growth and better execution despite recent volatility. A rebound could require backlog conversion, margin improvement and progress toward profitability to validate the premium rather than simply a stabilization in sentiment.
LUNR’s Investor Signals Remain IncompleteThe operating picture remains balanced. Record backlog, a 17.4% second-quarter gross margin and rising satellite production support the case for better operating leverage. Negative adjusted EBITDA, fixed-price lunar exposure and a premium forward sales multiple still argue for caution.
LUNR currently carries a Zacks Rank #3 (Hold). It also has a Value Score of F, Growth Score of F, Momentum Score of D and VGM Score of F. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Style Scores are designed to complement the Zacks Rank, and weaker grades offer limited support from value, growth and momentum factors. The combination does not rule out upside if execution improves, but it favors patience rather than treating the 46.4% decline alone as a buying signal.
Key Takeaways Intuitive Machines' Q2 revenues surged to $206.2 million from $50.3 million a year earlier.LUNR ended Q2 with a record $1.8 billion backlog after booking $920 million of awards.LUNR trades above its sub-industry as losses, cash use and contract timing remain key risks. Intuitive Machines, Inc. (LUNR - Free Report) is growing far faster than a year ago as satellite production, lunar delivery, national security and communications broaden its revenue base. The expansion is improving visibility, but it has not eliminated execution risk.
The central question is whether record backlog and a more diversified platform justify paying a premium while losses, cash use and contract timing remain meaningful constraints.
LUNR’s Revenue Base is BroadeningSecond-quarter 2026 revenues reached $206.2 million, up from $50.3 million a year earlier. Civil customers contributed 38% of revenues, commercial customers 32% and national security customers 30%, compared with just 3% from national security in the prior-year quarter.
That balance makes Intuitive Machines less dependent on a single lunar program. Satellite manufacturing, lunar delivery, Near Space Network Services and other programs now contribute to the top line. L3Harris Technologies (LHX - Free Report) also has direct exposure to missile-defense satellite demand through its 18-satellite AMDT3 award, underscoring the scale of national security spending in this market.
Intuitive Machines Has Record Backlog VisibilityIntuitive Machines exited the quarter with a record $1.8 billion backlog after booking $920 million of awards in the period. Management expects 25-30% of that backlog to convert to revenues in 2026, 35-40% in 2027 and the balance later.
The awarded base supports a multi-year growth case, but conversion timing still matters. Management has said contract definitization and revenue timing will help determine where 2026 revenues land within its $900 million-$1 billion guidance range. Rocket Lab Corporation (RKLB - Free Report) is also expanding its national-security space business, recently securing a $397 million U.S. Space Force contract to develop, launch and operate multiple satellites for the Space-Based Airborne Moving Target Indicator program.
LUNR Trades Above Its Sub-IndustryLUNR trades at 3.15X forward 12-month price-to-sales, above the Zacks sub-industry’s 2.38X. That premium asks investors to price in substantial growth and improving execution before GAAP profitability is established.
The latest quarter also showed why valuation matters. Intuitive Machines posted an adjusted loss of 16 cents per share compared with the Zacks Consensus Estimate of a loss of seven cents. Revenues of $206.2 million missed the consensus mark of $219 million by 5.9%, even as they increased 309.8% year over year.
Cash and Margin Risks Still Matter for LUNRCash and cash equivalents stood at $367.4 million as of June 30, 2026, while operating activities used $59.8 million during the quarter. The liquidity cushion gives the company room to fund production and infrastructure investments, but sustained cash consumption would keep funding risk in focus.
Margins also remain exposed to fixed-price lunar work. The quarter included a $14.7 million estimate-at-completion adjustment tied to IM-4 payload changes, while acquisition-related transaction and integration costs totaled $7.9 million. Management expects positive adjusted EBITDA for 2026 but has not provided a GAAP profitability target.
LUNR’s Investment Case Stays BalancedThe bottom line is that LUNR’s growth case has improved, but the current setup does not clearly favor an aggressive entry. Diversification, backlog and production scale support longer-term revenue visibility, while valuation, margin variability, cash use and contract execution argue for patience.
LUNR’s Price PerformanceIn the past six months, shares of LUNR have lost 20.2% compared with the industry’s 17.2% decline.
Image Source: Zacks Investment Research
LUNR’s Zacks RankLUNR currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways LUNR ended Q2 with a record $1.8B backlog after booking $920M in awards across key markets.Intuitive Machines expects 25%-30% of Q2 backlog to convert to revenue in 2026.LUNR kept its $900M-$1B 2026 revenue outlook, with stronger second-half conversion central to results. Intuitive Machines, Inc. (LUNR - Free Report) exited the second quarter of 2026 with a record $1.8 billion backlog after a sharp increase in awarded work. The central question is how quickly that contracted base can become reported revenues.
That conversion matters because rapid top-line growth has not yet translated into consistent operating profitability. Contract timing, procurement activity and program execution will shape the balance of 2026.
LUNR’s Q2 Revenues Surged but Missed EstimatesSecond-quarter revenues jumped 309.8% year over year to $206.2 million. Even with that growth, revenues came in 5.9% below the Zacks Consensus Estimate of $219 million.
Gross margin improved to 17.4%, generating $35.9 million of gross profit. Still, operating loss widened to $47.1 million from $28.6 million a year earlier as selling, general and administrative expenses increased.
Intuitive Machines Booked $920 Million in AwardsIntuitive Machines booked $920 million of awards during the second quarter across commercial, civil and national security markets. The quarter included a contract worth more than $600 million for three commercial geostationary satellites, another lunar delivery award and national security spacecraft work.
Competition for scaled spacecraft production is also expanding. Rocket Lab Corporation (RKLB - Free Report) is pursuing national security and geostationary satellite programs, while MDA Space Ltd. (MDA - Free Report) has expanded high-volume satellite manufacturing capacity and continues to execute constellation work.
LUNR’s Backlog Conversion Holds the 2026 KeyManagement expects 25-30% of second-quarter backlog to convert to revenues in 2026 and another 35-40% in 2027. That schedule gives LUNR substantial visibility, but backlog does not automatically translate into near-term sales.
Management indicated that contract definitization and procurement timing remain key variables. The company sees high visibility to the low end of its 2026 revenue range, while movement toward the middle depends partly on authority-to-proceed contracts becoming fully definitized.
IM-4 Costs Pressure LUNR’s Profit PathThe second quarter included a $14.7 million estimate-at-completion adjustment on the IM-4 lunar mission to accommodate customer payload changes. The charge illustrates the earnings sensitivity of fixed-price lunar programs when mission requirements shift.
Higher-margin contributions from the satellite business helped adjusted EBITDA improve year over year. Yet adjusted EBITDA remained negative $13.8 million, showing that better business mix can still be offset by lunar execution costs and elevated operating expenses.
Intuitive Machines Keeps Its 2026 Revenue RangeIntuitive Machines reaffirmed full-year 2026 revenue guidance of $900 million to $1 billion and continued to expect positive adjusted EBITDA. Through the first six months, revenues totaled $392.9 million.
Stronger second-half conversion is therefore central to the outlook. Management expects free cash flow to improve as investment levels stabilize and milestone receivables are collected, but the pace of revenue recognition remains tied to contract progress.
LUNR’s Signals Depend on ExecutionThe bottom line is that LUNR has more awarded work to execute, but the quality of 2026 results will depend on conversion, margins and cash generation. Further material program adjustments could dilute the operating leverage that a larger revenue base should provide.
LUNR’s Price PerformanceIn the past six months, shares of LUNR have lost 20.2% compared with the industry’s 17.2% decline.
Image Source: Zacks Investment Research
LUNR’s Zacks RankLUNR currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Intuitive Machines (LUNR +0.95%), a developer of lunar landers and exploration vehicles, doesn't usually get as much attention as bigger space stocks like SpaceX (SPCX -1.07%). But over the past two years, Intuitive's stock has nearly tripled.
Most of that rally was driven by the expansion of its partnership with NASA, which now includes seven lunar, orbital satellite, and science missions. Let's take a closer look at that manifest -- and see if its stock is still worth chasing after its astronomical gains.
Image source: Getty Images.
Why is Intuitive Machine's stock blasting off? Intuitive Machines' manifest for NASA includes five lunar surface delivery missions (IM-1 to IM-5) and the production of two satellite buses (IM 300 and IM 500) for orbital science missions.
It has launched two lunar lander missions for NASA so far: IM-1 in 2024 and IM-2 in 2025. Both landers tipped over after arriving on the moon, but they successfully transmitted some data back to NASA before their solar panels ran out of power. Though imperfect, IM-1 marked NASA's first successful moon landing since 1972, and it strengthened Intuitive's relationship with NASA.
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Intuitive plans to launch IM-3 in late 2026, IM-4 in 2027, and its larger IM-5 lander in 2030. It expects to launch its IM 300 satellite bus for NASA's geological and biological experiments in 2028, and its IM 500 satellite bus to study ice sheets, forests, and inland water in 2030.
Intuitive's orders from NASA, along with its commercial and defense contracts, boosted its backlog to $1.8 billion at the end of the second quarter of 2026. That's nearly double its projected 2026 revenue of $918 million. Its recent acquisitions of Lanteris, which develops satellites and other spacecraft, and Goonhilly Earth Station, a satellite and deep-space communications facility, should further diversify its business and fuel its long-term growth.
Is Intuitive's stock worth buying today? From 2026 to 2028, analysts expect Intuitive's revenue to grow at a 16% CAGR to $1.23 billion as its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) surges from less than $3 million to $79 million. With an enterprise value of $2.62 billion, it still looks reasonably valued at two times next year's sales and 47 times its adjusted EBITDA.
Therefore, Intuitive could attract more attention if it sticks to its scheduled launches and secures more contracts with NASA, the Department of Defense, and commercial customers. Investors who accumulate it today could reap some big gains in the future.
HOUSTON, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR) ("Intuitive Machines," and together with its subsidiaries, the "Company"), a leading space technology, infrastructure, and services company, announced today that it has been awarded a contract to build two IM 300™ series platforms for a new, undisclosed customer.
Rendering of the IM 300™ Platform
The award marks the addition of a new market segment of customers for the IM 300 base and reflects continued demand for spacecraft platforms that can be configured to a specific mission and delivered on compressed timelines.
“This contract demonstrates that the IM 300 can serve multiple missions with various customers. The modularity of the IM 300 enabled us to scale its capability to support a heavier, higher-power payload class," said Chris Johnson, President of Intuitive Machines Space Systems.
A platform built for mission flexibility
The IM 300 is the proliferated platform in the Company's satellite product line and is engineered around a modular architecture that allows the same core bus to support substantially different payloads and mission profiles.
Platform capabilities include:
Proliferated-architecture ready. Low unit mass allows multiple spacecraft to be manifested on a single launch, lowering the cost of deploying and replenishing a constellation.High power in a lightweight structure. The IM 300 is designed to carry a relatively heavy payload on a low-mass bus, with power capability at the top of its class.Scalable payload accommodation. Standardized interfaces support commercial, civil, and national security payloads across all mission sets.Optical and RF crosslinks. The platform supports both optical and radio frequency inter-satellite links, enabling operation as a networked constellation node rather than a standalone asset.Configurable propulsion. Customers can select chemical or electric propulsion depending on orbit, maneuvering requirements, and mission duration. Manufactured at rate
The IM 300 is produced at the Company's high-volume satellite production facility in Palo Alto, California, which was purpose-built for serial spacecraft manufacturing rather than one-off builds. That infrastructure, combined with a qualified supplier base, is what allows Intuitive Machines to accept new orders without disrupting existing customer schedules.
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.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations and plans relating to our lunar missions and satellites, including the expected timing of building our satellites and landers, launch and our progress in preparation thereof; our expectations with respect to, among other things, demand for our product portfolio, our submission of bids for contracts; our expectations regarding revenue for government and commercial contracts awarded to us; our operations, including our performance on future lunar missions, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; information regarding our expectations on revenue generation and cash. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.
Key Takeaways Intuitive Machines posted record Q2 revenues of $206.2M as backlog surged to $1.8B.Commercial bookings and awards are accelerating, including a $600M-plus contract for three GEO satellites.National security revenues rose to 30% of Q2 revenues, with an 18-spacecraft award boosting growth prospects. Intuitive Machines, Inc. (LUNR - Free Report) is increasingly positioning itself as a broader space infrastructure company rather than a mere lunar-lander developer. The company generated record second-quarter revenues of $206.2 million, driven by spacecraft manufacturing, NASA’s Commercial Lunar Payload Services (“CLPS”), National Security Space and other space programs. Backlog reached $1.8 billion, up approximately $1.5 billion from year-end 2025, providing a substantial foundation for future revenue growth.
Commercial demand is becoming an important growth driver. Intuitive Machines signed a contract worth more than $600 million for three commercial GEO satellites, while second-quarter bookings totaled $920 million. The company also received an additional $300 million in awards in the third quarter to date, demonstrating continued momentum across commercial, civil, and national security customers.
National security is another increasingly important opportunity. National security revenues grew from just 3% of revenues in second-quarter 2025 to 30% in second-quarter 2026. The company expects further growth following an award for 18 spacecraft to support the AMDT3 Golden Dome constellation. Intuitive Machines also secured a U.S. Space Force Andromeda IDIQ contract with a $6.24 billion ceiling, expanding its potential addressable market.
LUNR is developing the capabilities needed to support a more persistent lunar economy, including lunar data relay and navigation services. Its broader strategy is to build an integrated space infrastructure platform that can serve NASA, defense customers and commercial operators. If these capabilities gain wider adoption, Intuitive Machines could generate more recurring and diversified revenues beyond individual lunar missions, potentially strengthening the long-term value of its growing backlog.
Companies Benefiting From the Space Infrastructure TrendThe broader space-infrastructure opportunity also benefits companies such as Rocket Lab Corporation (RKLB - Free Report) and Redwire Corporation (RDW - Free Report) , each of which is positioned across different parts of the growing space ecosystem.
Rocket Lab provides launch services as well as satellites, spacecraft components and other space systems, giving it exposure to rising demand for both commercial and government missions. Redwire focuses on space infrastructure and technologies used for satellites, in-space manufacturing and national security applications.
LUNR Stock’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 earnings per share (EPS) implies a decrease of 57.14% year over year, while that for 2027 EPS suggests an increase of 52.19%.
Image Source: Zacks Investment Research
LUNR Stock Trades at a PremiumIn terms of valuation, LUNR’s forward 12-month price-to-sales (P/S) is 4.14X, a premium to the industry’s average of 2.65X.
Image Source: Zacks Investment Research
LUNR Stock’s Price PerformanceIn the past six months, the company’s shares have risen 10% against the industry’s 6.3% decline.
Image Source: Zacks Investment Research
LUNR’s Zacks RankThe company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
"Led" (in a bad way) by Space Exploration Technologies (SPCX +4.45%), the space titan built by Elon Musk and IPOed on June 12, shares of space stocks of all stripes have taken a beating over the past couple of months.
Take Rocket Lab (RKLB +2.28%) for example. The space company, often described as a mini-SpaceX, surged from below $5 in May 2024 to more than $140 in May 2026 -- a thirtyfold rise in just two years. Then it plunged more than 50% after the SpaceX IPO.
Or consider AST SpaceMobile (ASTS +0.23%), the satellite communications pioneer that proved the concept of cell phone-to-cell phone communications via satellite, with no towers in between. That one rose nearly twelvefold over the same two-year period -- then gave back 20% in the month following SpaceX's titanic IPO.
More targeted space plays such as Redwire Corporation (RDW -1.25%), which builds space infrastructure, and Intuitive Machines (LUNR +7.21%), focused on delivering cargo to the moon, gained fourfold in two years and nearly eightfold, respectively, before falling each falling roughly 70% in a month.
Can they bounce back?
Image source: Getty Images.
SpaceX leads; others follow Even SpaceX hasn't gone unscathed. After a first few frenzied days of trading that lifted Elon Musk's space empire past $211 a share, sellers arrived in force at SpaceX, driving the shares down nearly into the double digits.
The good news is that SpaceX appears to have found its footing again, closing at $140 Friday and once again above its IPO price. The better news is that many other space stocks are recovering, at least somewhat, alongside the leader.
The best news of all is that, with the U.S. government continuing to pour money into space exploration, there's reason to believe the momentum is sustainable.
NITE-STAR gazing Case in point: Late last month, the U.S. Space Force announced a $981 million award to be shared among more than a dozen separate space stocks working on the "National Space Test and Training Complex Innovative Technology and Engineering Space Test and Range Capability Development" -- dubbed "NITE-STAR."
(Someone clearly worked overtime trying to make those words fit that acronym.)
Space Force named the following 15 space companies -- 13 of which are publicly traded -- as winners of NITE-STAR, clearing them to bid on future task orders under the umbrella contract, which will span 10 years:
Amentum Holdings (AMTM -4.84%) BAE Systems (BAESY -1.37%) Boeing (BA -2.47%) CACI (CACI -3.16%) Firefly Aerospace (FLY +1.91%) L3Harris Technologies (LHX -4.61%) Lockheed Martin (LMT -2.45%) Northrop Grumman (NOC -2.67%) Pacific Crest Alliance Parsons Corporation (PSN -4.47%) Redwire Rocket Lab Sierra Space Corp. Viasat (VSAT -1.76%) York Space Systems (YSS -2.47%) It's not entirely clear what NITE-STAR will entail. The Space Force itself might not be 100% certain, describing the contract's goal vaguely as "advancement of the sophisticated systems and technologies required to keep [Space Force servicemen known as] Guardians ahead of the complexities of a contested space domain."
More importantly for investors, it's less than 100% certain anyone on the above list will book significant, needle-moving wins -- even on this nearly $1 billion contract.
What it means for space investors Consider that $981 million, spread over 10 years, works out to just $98.1 million per year. And if contracts are evenly distributed, each of the 15 companies might, on average, expect to book as little as $6.5 million per year under the contract.
It goes without saying that $6.5 million won't move the needle for giant space companies such as Boeing, Lockheed, Northrop, or L3Harris. Smaller space-fry such as Firefly, Redwire, or York Space might notice the revenue influx more. But even at York, $6.5 million extra per year will only add about 1.5% to the company's $405 million-a-year revenue stream.
In short, big as this contract appears on the surface, it's not -- in and of itself -- going to be enough to turn things around and start a new bull market in space stocks. Many more contracts, and many much larger contracts, will be needed for that.
Meanwhile, a survey of 15 of the biggest space stocks that I follow shows an average price-to-sales ratio of 65.4. (Even throwing out triple-digit P/S outliers such as AST and Virgin Galactic (SPCE -5.72%) only brings the average P/S down to 19.8.) Valuations remain extreme in this sector.
Investors should be wary. Even after some pretty historic declines, space stocks as a whole aren't yet cheap enough to guarantee a bounce-back.
Rich Smith has positions in Intuitive Machines and Rocket Lab. The Motley Fool has positions in and recommends AST SpaceMobile, Amentum, Boeing, Firefly Aerospace, Intuitive Machines, L3Harris Technologies, Rocket Lab, and York Space Systems. The Motley Fool recommends BAE Systems and Lockheed Martin. The Motley Fool has a disclosure policy.
When an emerging space technology provider moves from speculative lunar missions to permanent defense infrastructure, smart money takes notice. On Aug. 17, 2026, Intuitive Machines NASDAQ: LUNR received an authorization to proceed on a multi-satellite communications infrastructure program valued at over $600 million across a 30-month execution window.
Intuitive Machines Today
LUNR
Intuitive Machines
$20.38 +1.37 (+7.21%)
As of 08/17/2026 04:00 PM Eastern
$7.78▼
$46.75$30.31
The announcement sent shares climbing over 8% in midday trading toward $20.70 on heavy volume, leaving commercial space peers like Rocket Lab NASDAQ: RKLB and Redwire NYSE: RDW behind. For investors tracking the evolution of cislunar economics, this milestone represents more than a short-term trading surge. It marks the transformation of Intuitive Machines from a periodic payload lander into an essential, high-margin satellite infrastructure and defense prime contractor.
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This strategic shift could change how Wall Street measures the firm's enterprise value, paving a clear runway toward recurring commercial profitability.
Intuitive Machines Expands Backlog to Record HeightsUnder the agreement, Intuitive Machines will deploy its proprietary IM 1300 satellite platform to design, manufacture, integrate, and support multiple spacecraft. Customer specifics remain confidential, yet the contract dramatically alters Intuitive Machines' long-term cash flow profile by locking in stable, long-duration operational revenue through 2028.
The award expands an order backlog closing in on $1.8 billion as of the second quarter of 2026. This order book reflects an intentional pivot across commercial, civil, and national security markets. During the second quarter, national security projects generated around 30% of total revenue, rising from roughly 3% in the prior-year period. Civil space contracts accounted for approximately 38%, while commercial projects accounted for the remaining 32%.
To support this constellation, Intuitive Machines finalized strategic acquisitions of Goonhilly Earth Station and COMSAT in August 2026. Integrating these ground stations creates a unified space-to-ground communications network. Paired with the planned deployment of the Altus lunar satellite constellation targeting early 2027, Intuitive Machines is establishing a high-margin recurring revenue stream powered by pay-by-the-minute positioning, navigation, and timing (PNT) data services.
Intuitive Machines Generates $206M in Quarterly RevenueAnalyzing the balance sheet reveals why institutional confidence is firming despite recent headline volatility. Intuitive Machines delivered second-quarter 2026 revenue of $206.17 million, representing a year-over-year (YOY) increase of more than four times compared to the $50.31 million recorded during the second quarter of 2025.
Although quarterly earnings per share loss of 29 cents fell short of consensus estimates of a 9-cent loss, understanding the underlying cause helps investors separate noise from fundamental strength. The bottom-line drag was driven by a $14.7 million estimated at completion (EAC) adjustment for the IM-4 mission to accommodate customer payload modifications, rather than by systemic cost overruns.
Sustained revenue expansion generated a positive gross profit of $35.9 million in the second quarter, with a gross margin near 17.4%. Executive leadership reaffirmed full-year 2026 revenue guidance ranging between $900 million and $1.0 billion, alongside expectations to achieve positive EBITDA on an adjusted basis by year-end.
Liquidity remains robust, with cash reserves reaching approximately $367.4 million at quarter-end. Financial runway was strengthened through a $235 million at-the-market equity offering. This capital directly finances long-lead inventory and manufacturing components for over 80 contracted spacecraft, providing substantial operational runway without near-term solvency concerns.
Elevated Short Float Meets Institutional Wall Street UpgradesIntuitive Machines Stock Forecast Today12-Month Stock Price Forecast:
$30.31
48.74% Upside
Moderate Buy
Based on 10 Analyst Ratings
Current Price$20.38High Forecast$43.00Average Forecast$30.31Low Forecast$9.50Intuitive Machines Stock Forecast Details
Landing a $600 million contract creates immediate technical and fundamental tension across the trading floor.
Short interest in Intuitive Machines remains high, with roughly 37.77 million shares sold short, accounting for approximately 35% of the public float. Given a days-to-cover ratio near four, squeeze pressure may be triggered as bearish traders rush to hedge their positions.
Equity research desks are actively upgrading their outlooks on LUNR to match this operational evolution. Analysts at Stifel Nicolaus upgraded the equity from Hold to Buy on Aug. 14, 2026, citing durable backlog and accelerating government satellite demand.
Among 11 covering Wall Street analysts, the consensus rating is Moderate Buy, with eight Buy, one Hold, and two Sell ratings. The average 12-month price target of $30.31 suggests nearly 46% upside from recent trading levels near $20.70.
Steering Clear of Space DebrisEven with substantial contract momentum, prudent investors must weigh the ongoing operational risks Intuitive Machines faces. Complex aerospace engineering programs remain vulnerable to supply chain delays and adjustments to integration schedules. Non-cash estimated-at-completion charges can occasionally compress quarterly margins when mission specifications evolve.
Insider transactions also merit observational tracking. Director Kamal Seyed Ghaffarian sold 267,448 shares on Aug. 13, 2026, following executive sales recorded in late July. While insider liquidations often reflect personal tax or estate planning, investors usually evaluate these transactions alongside broader institutional accumulation.
Growth-oriented investors seeking exposure to the expanding defense and commercial space ecosystem might consider adding Intuitive Machines to a watchlist to monitor manufacturing execution across the IM 1300 platform. Market participants seeking to manage entry pricing may prefer to wait for short-term consolidation before accumulating a position.
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HOUSTON, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR) ("Intuitive Machines," and together with its subsidiaries, the "Company"), a leading space technology, infrastructure, and services company, today announced that it has been selected by NASA's Jet Propulsion Laboratory in Southern California to provide the spacecraft platform, system-level integration, and mission solutions for EAGLE-VSWIR, an Earth observation mission under NASA's Earth Science Division.
Rendering of EAGLE-VSWIR on the IM 300TM spacecraft
EAGLE-VSWIR (Explorer for Artemis Geology, Lunar, and Earth – Visible to Shortwave Infrared) will fly on the IM 300TM spacecraft bus and is targeted for launch in 2028. The mission will be equipped with a hyperspectral visible to shortwave infrared (VSWIR) instrument designed to perform surface biology and geology observations from Earth orbit while demonstrating technologies that could support future lunar and Mars exploration missions.
The award marks the second NASA low Earth orbit science mission Intuitive Machines is supporting. As discussed on a previous earnings call, Intuitive Machines was selected to provide an IM 500 spacecraft bus and system-level integration for NASA's EDGE (Earth Dynamics Geodetic Explorer) mission, managed by NASA's Goddard Space Flight Center and led by Principal Investigator Dr. Helen Amanda Fricker of the Scripps Institution of Oceanography at the University of California San Diego.
"NASA's science missions are being asked to deliver faster and inside tighter cost caps, and that is exactly the problem our platforms solve," said Anand Mahendra, Chief Growth Officer, Intuitive Machines. "Our Build, Connect, Operate model puts spacecraft manufacturing at scale behind Intuitive Machines' mission systems and integration expertise. Earth science is a natural extension of the same capability we bring to our commercial, civil, and national security customers."
Under the agreement, Intuitive Machines will deliver the IM 300 spacecraft platform, perform system-level integration of the VSWIR instrument developed at JPL in support of the EAGLE-VSWIR mission, as well as manage the Mission Operations and Ground Segment scope. The Company's spacecraft platforms and mission integration capabilities enable rapid, cost-effective delivery of science missions for civil, national security, and commercial customers. The IM 300 series platform has customers across national security and civil programs.
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.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations and plans relating to our lunar missions and satellites, including the expected timing of building our satellites and landers, launch and our progress in preparation thereof; our expectations with respect to, among other things, demand for our product portfolio, our submission of bids for contracts; our expectations regarding revenue for government and commercial contracts awarded to us; our operations, including our performance on future lunar missions, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; information regarding our expectations on revenue generation and cash. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.
Space explorer Intuitive Machines (LUNR +7.21%) stock jumped 6.3% through 3:30 p.m. ET Monday after announcing that an "undisclosed customer" has hired it to build "a multi-satellite communications infrastructure" in space.
The total value of the contract: $600 million.
Image created by JesterAI.
Details, please To put that in context, $600 million is about 20% more money than Intuitive Machines raked in from all its customers over the last 12 months -- and this is coming from a single customer. As Intuitive explains, it will be building a constellation of satellites for its customer based on its IM 1300TM satellite platform.
How many satellites, exactly, and at what value per satellite, wasn't revealed -- only that it will be "multiple." Neither did Intuitive say who will launch its satellites. (Intuitive Machines is a satellite stock, not a rocket stock -- and owns no rockets of its own). Neither did Intuitive give much detail on its customer, noting that its client list includes "commercial, civil, and national security" buyers.
Among these customers, the most important is NASA itself, which in 2024 hired Intuitive to build and operate a Near Space Network satellite system handling communications traffic between Earth and the moon. That contract dwarfs even this one, being valued at up to $4.8 billion over 10 years.
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What this means for Intuitive Machines stock Still, $600 million is nothing to sneeze at. It's a significant sum for a company with as small a revenue stream (currently) as Intuitive has. What investors will want to keep an eye on in future quarters, as more details emerge, is how many years the $600 million project will span.
Only then will we be able to tell how much money Intuitive will make annually and better estimate what this will mean for Intuitive's profits.
Rich Smith has positions in Intuitive Machines. The Motley Fool has positions in and recommends Intuitive Machines. The Motley Fool has a disclosure policy.
Intuitive Machines Inc. (NASDAQ:LUNR) shares are trading higher Monday that it has received authorization to proceed on a multi-satellite communications infrastructure program with an anticipated value exceeding $600 million.
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Shares of Intuitive Machines (NASDAQ:LUNR) are up 6% to $20.22 in early Monday trading after the company announced an authorization to proceed (ATP) on a multi-satellite communications program valued at more than $600 million. The move extends Friday’s 8% jump to $19.01.
Intuitive Machines stock was already up 17% year to date (YTD) at Friday’s close. The space-stock peers are quiet, with SpaceX (NASDAQ:SPCX | SPCX Price Prediction) and Rocket Lab (NASDAQ:RKLB) both flat, framing today’s move as a single-name catalyst rather than a sector re-rating.
ATP on a $600M Satellite Program Fuels the Move The catalyst is a press release dated August 17, 2026, in which Intuitive Machines disclosed that an undisclosed customer issued an authorization to proceed on a multi-satellite communications infrastructure program with an anticipated value of more than $600 million. The company will use its IM 1300 satellite platform to design, build, integrate, and support the spacecraft.
Chris Johnson, President of Intuitive Machines Space Systems, stated the program “reflects the trust customers place in partners who can execute complex space missions with precision, reliability, and schedule discipline.” CEO Steve Altemus described it as “an important milestone” and stated Intuitive Machines is “executing programs across commercial, civil, and national security space markets.”
One nuance matters here. On the Q2 2026 call, the company had already flagged three geostationary communications satellites worth more than $600 million over the next 30 months. Today’s release doesn’t identify the customer or confirm whether this ATP covers that same award or adds new work, so investors can watch for firm-up details before treating it as incremental backlog for LUNR.
Peers Stay Flat as the Space Complex Shrugs The rest of the group is idle. SpaceX (NASDAQ:SPCX) stock is unchanged at $140 and Rocket Lab (NASDAQ:RKLB) stock is unchanged at $80.60. Other space names including Virgin Galactic (NYSE:SPCE), AST SpaceMobile (NASDAQ:ASTS), and Planet Labs (NYSE:PL) are also trading quietly, and the Procure Space ETF (NASDAQ:UFO) is little changed, carrying meaningful concentration risk given its narrow basket of space names. The read: a $600 million-plus award at one operator is not lifting the group, so today’s move looks like a company-specific catalyst for Intuitive Machines.
The award sits on top of a strong backdrop. Intuitive Machines reported a record backlog of $1.8 billion with more than 80 spacecraft under contract and year-to-date bookings of $1.7 billion, including $1.2 billion in Q2. Management reaffirmed 2026 revenue guidance of $900 million to $1 billion and positive adjusted EBITDA for the year.
The ATP fits into a broader portfolio buildout. Intuitive Machines delivered all 16 satellites for the Space Development Agency’s Tranche 1 Tracking Layer, added 18 Tranche 3 Tracking Layer satellites and 18 AMDT3 satellites supporting the Golden Dome architecture, and now has more than 70 IM-300 spacecraft under contract. Furthermore, the company’s national security revenue grew from 3% to 30% of Q2 revenue year over year (YoY).
Analysts Trim Targets but Stay Bullish The sell-side response after Q2 has been constructive. B. Riley cut its Intuitive Machines stock price target to $43 from $45 while keeping a Buy rating, saying softer Q2 revenue was “overshadowed” by the expanded backlog and continued wins.
Meanwhile, Cantor Fitzgerald cut its Intuitive Machines stock price target to $32 from $43 while keeping an Overweight rating, pointing to record backlog, reaffirmed guidance, and NASA, Golden Dome, and defense awards, with “multiple lunar and contract catalysts ahead.”
What to Watch Investors can watch for whether the customer is identified and whether the award value is firmed up in coming filings. The backlog conversion pace is important, as well, with Intuitive Machines guiding 25% to 30% of Q2 backlog to revenue in 2026 and 35% to 40% in 2027.
Longer term, the CLPS 2.0 competition, an estimated $10 billion-plus multi-award contract, and the third lunar mission scheduled aboard a SpaceX Falcon 9 between January and March 2027, sit as the next major catalysts. For now, whether Intuitive Machines shares hold Friday’s and Monday’s gains is the near-term tell.
Contact [email protected] for any questions or corrections.
HOUSTON, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR) ("Intuitive Machines," and together with its subsidiaries, the "Company"), a leading space technology, infrastructure, and services company, announced it has received an authorization to proceed from an undisclosed customer to begin work on a multi-satellite communications infrastructure program with an anticipated value of more than $600 million.
IM 1300TM rendering
Under the agreement, Intuitive Machines will leverage its satellite communications expertise and industry-leading IM 1300TM satellite platform to design, manufacture, integrate, and support multiple spacecraft for a critical communications infrastructure mission. Additional program details remain confidential at the customer's request.
"This program reflects the trust customers place in partners who can execute complex space missions with precision, reliability, and schedule discipline," said Chris Johnson, President of Intuitive Machines Space Systems. "Our team is committed to delivering high-performance spacecraft while working closely with our customer throughout every phase of the program — from design and manufacturing through mission delivery. We are proud to support a mission that advances critical communications infrastructure and delivers long-term value for our customer."
"Winning this multi-satellite procurement is an important milestone for Intuitive Machines and reflects the confidence our customers place in our ability to deliver high-performance spacecraft for a broad range of mission needs," said Steve Altemus, Chief Executive Officer of Intuitive Machines. "Today, Intuitive Machines is executing programs across commercial, civil, and national security space markets, and awards like this reinforce both the strength of our diversified business and the growing demand for our space infrastructure capabilities. Our strategy is to build, connect, and operate the critical infrastructure that enables the next generation of space operations. With decades of experience in spacecraft design, manufacturing, communications, and mission operations, we are delivering capabilities our customers need today while creating the foundation for the future space economy."
This award further demonstrates Intuitive Machines' ability to deliver complex spacecraft and infrastructure solutions for customers across commercial, civil, and national security space markets through its integrated build, connect, and operate strategy.
The Company builds mission-critical spacecraft, systems, and infrastructure; connects those assets through resilient communications and navigation networks; and operates them as long-duration services that create enduring value for customers. Increasingly, these are not separate businesses, but successive layers of a single infrastructure strategy—designing and manufacturing space systems, connecting them into resilient networks, and operating them as long-term services.
Each new mission strengthens this integrated approach, expanding Intuitive Machines' ability to support customers throughout the mission lifecycle while reinforcing its position as a trusted provider of commercial, civil, and national security space infrastructure. As demand for resilient space capabilities continues to grow, the Company remains focused on building the enduring infrastructure that will power the next generation of space exploration and the space economy.
About Intuitive Machines
Intuitive Machines is a leading space infrastructure company that builds spacecraft, connects networks, and operates infrastructure-as-a-service for commercial, civil, and national security customers. With a proven track record across the space domain, the Company, through organic growth and portfolio expansion, has built over 300 spacecraft, delivered over 260 kilograms of payload to the lunar surface, and provided precision navigation expertise that has guided spacecraft across our solar system.
These capabilities form an integrated Built-Connect-Operate infrastructure service company, enabling customers to achieve mission and campaign outcomes through a single prime solution. Intuitive Machines’ technology has been demonstrated across the space domain and is engineered to support the next century of opportunity in space.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations and plans relating to our missions and satellites, including the expected timing of building our satellites, launch and our progress in preparation thereof; our expectations with respect to, among other things, demand for our product portfolio, our submission of bids for contracts; our expectations regarding revenue for ATP awards and contracts awarded to us; our operations, including our performance on future missions, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; information regarding our expectations on revenue generation and cash. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data.
Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.
Bank of America Corp DE raised its stake in Intuitive Machines, Inc. (NASDAQ: LUNR) by 188.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,882,973 shares of the company's stock after buying an additional 1,231,188 shares during the period. Bank of America
Intuitive Machines Inc. LUNR shares rallied sharply on Friday after multiple Wall Street analysts shifted their focus from the company's second-quarter earnings miss to its rapidly expanding order backlog, arguing that the long-term growth outlook remains intact. The stock climbed about 8.14% to $18.99 during Friday's session after Stifel upgraded the lunar exploration company to Buy from Hold, despite lowering its price target to $26 from $32.
Intuitive Machines (LUNR +7.94%) published its second-quarter results after the market closed yesterday, and its stock is seeing strong gains in Friday's trading. The company's share price was up 10.5%in the daily session as of 12:30 p.m. ET.
Intuitive Machines' Q2 sales and earnings actually came in below Wall Street's expectations, but there was some good news for investors. In addition to reaffirming its full-year sales forecast, the company provided new details about its lunar satellite constellation plans.
Image source: Getty Images.
Investors aren't worried that Intuitive Machines' Q2 results missed the mark
In the second quarter, Intuitive Machines recorded a net loss of $0.29 per share and revenue of roughly $206.2 million. The average Wall Street analyst estimate had only targeted a per-share loss of $0.10 in the quarter, and the average forecast called for sales in the period to be roughly $15 million higher. Despite the sales and earnings misses, other updates from the company has been enough to spur big gains for the stock today.
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Intuitive Machines reaffirmed its guidance and shared new tech plans
While the company's Q2 sales came in below expectations, Intuitive Machines still expects to post revenue between $900 million and $1 billion this year. The company also expects to record positive non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA).
With the company's backlog increasing to $1.8 billion at the end of Q2 from roughly $300 million at the end of 2025, momentum appears strong in spite of sales missing Wall Street's forecast last quarter. Even better, the company says that it expects to have its full lunar satellite constellation network deployed in 2028 -- which would put tech foundations in place that could help supercharge the company's sales growth.
Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intuitive Machines. The Motley Fool has a disclosure policy.
Key Takeaways LUNR's backlog hit about $1.8B, with 25-30% expected to convert to revenues in 2026.Intuitive Machines is expanding satellite production and adding 75,000 square feet in Houston.LUNR plans to launch Altus-2 through Altus-5 together in 2028 to support Artemis 4. Intuitive Machines, Inc. (LUNR - Free Report) used its second-quarter 2026 call to emphasize record backlog, broader customer diversification and the transition from mission-by-mission work toward an integrated space infrastructure model.
The central near-term issue is execution. Management reaffirmed $900 million to $1 billion of 2026 revenues and positive adjusted EBITDA, while saying contract timing will determine where results land within the range. Reported revenues of $206.2 million missed the Zacks Consensus Estimate of $219.3 million. The reported loss of 16 cents per share was wider than the loss per share estimate of 7 cents.
Intuitive Machines, Inc. Price, Consensus and EPS Surprise
LUNR Sees Backlog Driving 2026 VisibilityChief executive officer Steve Altemus said backlog reached about $1.8 billion, with civil, commercial and national security customers all contributing. The company also had more than 80 spacecraft under contract.
Chief financial officer Peter McGrath said 25-30% of quarter-end backlog is expected to convert to revenues in 2026 and 35-40% in 2027.
A B. Riley Securities analyst pressed management on what could move revenues toward the middle of guidance. Altemus said procurement timing and the definitization of authority-to-proceed awards are the main swing factors, rather than customer demand.
Intuitive Machines Scales Satellite ProductionAltemus said the company is running production across its IM-300 low-Earth-orbit platform, IM-1300 geostationary satellites and a smaller set of lunar and specialty spacecraft.
McGrath said most nonrecurring work on the 300-class platform was retired with the first 16 SDA Tranche 1 satellites, while high bus commonality supports larger production runs.
A Stifel analyst asked about capacity for additional orders. Altemus said Intuitive Machines is adding 75,000 square feet in Houston and still has room to increase throughput on the IM-300 line.
LUNR Expands Its Lunar Mission PipelineAltemus said NASA selected Intuitive Machines for CS-8 after awarding CT-4, extending the company's CLPS mission cadence into 2030. Management also expects four additional CLPS opportunities during 2026, including the CLPS 2.0 multi-award contract.
A Cantor Fitzgerald analyst asked about Mission 3 readiness. Altemus said the spacecraft remains targeted for a January-to-March 2027 launch window, with engine hot-fire testing and an October delta flight-readiness review still ahead.
Altemus also said the contracted Nova-D lander, designed for roughly 500 kilograms of lunar payload, is essentially fully funded through flight and landing. He outlined further technology investment for heavier cargo variants.
Intuitive Machines Accelerates Lunar Network PlansAltemus said Altus-1 remains scheduled to launch with Mission 3 in the first quarter of 2027. The company now plans to deploy Altus-2 through Altus-5 together in 2028, accelerating full lunar communications capability.
A Clear Street analyst asked whether the faster deployment reflected service demand. Altemus said the change was driven by aligning the network to support Artemis 4 in 2028 rather than by a manufacturing constraint.
McGrath added that buying four shipsets together should improve purchasing, assembly and integration efficiency. Management expects the network to support pay-by-the-minute data relay plus position, navigation and timing services.
LUNR Balances Growth Investment With Cash UseMcGrath said second-quarter adjusted EBITDA improved to negative $14 million from negative $25 million a year earlier, while gross profit increased to $36 million from negative $12 million.
Operating cash use was $60 million, reflecting inventory, infrastructure, acquisition-related costs and an IM-4 SpaceX milestone. The company ended the quarter with $367 million in cash.
A Deutsche Bank analyst asked about second-half cash burn. McGrath said underlying spending should be closer to a steady state after adjusting for unusual items, while newer CLPS milestone structures better align customer receipts with launch payments.
Intuitive Machines Focuses on ExecutionAltemus framed the company's strategy around building spacecraft, connecting them through communications networks and operating those assets over their life cycles. Acquisitions including Lanteris, KinetX, Goonhilly Earth Station and COMSAT support that model.
McGrath said the second-half priorities are to execute backlog, convert awards into revenue, improve profitability and expand recurring infrastructure revenue. Across the call, management emphasized delivery against contracted work while continuing to build recurring infrastructure services.
LUNR's Zacks Signals Remain MixedLUNR carries a Zacks Rank #3 (Hold), while its Value, Growth, Momentum and VGM Scores are all F. Zacks Style Score methodology places F at the weakest end of the A-to-F scale and uses the scores as a complement to the Zacks Rank. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks highlights the strongest combinations among Zacks Rank #1 or #2 stocks with A or B Style Scores. LUNR does not meet that profile, and its Zacks Rank can change as earnings estimates are revised after the newly reported second-quarter results.
Revenue of $206.17 million more than quadrupled from $50.31 million a year earlier but missed the $220.76 million analyst estimate. GAAP diluted loss per share was 29 cents, missing the estimated 7-cent loss per share.
Intuitive Machines affirmed full-year revenue guidance of $900 million to $1 billion versus the $934.013 million estimate and continues to expect positive adjusted EBITDA.
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.”
Intuitive Machines shares gained 5.3% to $18.49 in pre-market trading.
These analysts made changes to their price targets on Intuitive Machines following earnings announcement.
Stifel analyst Jonathan Siegmann upgraded the stock from Hold to Buy and lowered the price target from $32 to $26. Cantor Fitzgerald analyst Andres Sheppard maintained the stock with an Overweight rating and lowered the price target from $43 to $32. Considering buying LUNR stock? Here’s what analysts think:
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Shares of Intuitive Machines (NASDAQ:LUNR) are surging 10% to $19 and change on Friday morning, and Virgin Galactic (NYSE:SPCE) shares are gaining 10% as it approaches $3.50. The rest of the space complex is not tagging along, with Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) stock up 1% to $81.25 and AST SpaceMobile (NASDAQ:ASTS) shares up just 1% to $72.32.
This is a two-name, earnings-driven move concentrated in LUNR and SPCE. SpaceX (NASDAQ:SPCX) stock is down 2% at $138, Planet Labs (NYSE:PL) shares are up 1% to $25, and the Procure Space ETF (NASDAQ:UFO), a space-focused fund, is flat at $48 and change.
Backlog, Not the Quarter, Fuels LUNR Intuitive Machines actually missed on both lines. Q2 2026 revenue of $206.2 million came in below the roughly $221.1 million consensus per Fiscal.ai, though it was more than four times the $50.3 million a year earlier. The GAAP loss widened to $0.29 per share from $0.22, missing the expected $0.10 loss.
Evidently, Intuitive Machines stock is rallying anyway because backlog reached approximately $1.8 billion, up $1.5 billion from the end of 2025, split 37% civil, 49% commercial and 14% national security. Year-to-date bookings sit at $1.7 billion, including $1.2 billion during and after Q2, with authority-to-proceed awards that could add another $300 million in the second half. CEO Steve Altemus stated, “This marks the highest quarterly bookings in company history.”
Stifel Financial (NYSE:SF) added fuel this morning, upgrading Intuitive Machines to Buy from Hold while lowering its price target to $26 from $32. The analyst consensus 12-month target sits at $31.67 per Koyfin, with seven of nine analysts at Buy, one Hold and one Sell. Intuitive Machines maintained full-year 2026 revenue guidance of $900 million to $1 billion with positive adjusted EBITDA expected, and ended the quarter with $367 million in cash.
Virgin Galactic Bounces Off a Rough Session Virgin Galactic stock has no fresh catalyst today. SPCE shares fell 8% Thursday after the company pushed first commercial service to February 2027 from a prior target of the fourth quarter of 2026. Looking at our analyst roundup, Morgan Stanley (NYSE:MS) cut its SPCE price target to $2 from $2.05 while keeping an Underweight rating, citing execution risk. Today’s move is a bounce off that decline.
On EPS, sources conflict. Reported figures show Virgin Galactic reporting a $0.58 loss against a $0.60 consensus, with revenue of $0.13 million versus $0.41 million a year earlier, while an alternate compilation shows Stocktwits, citing Fiscal.ai, reporting a $0.50 loss against a $0.65 estimate. Virgin Galactic CEO Michael Colglazier stated that the $750,000 tranche of spaceflight expeditions was “oversubscribed and booked out ahead of schedule.” The consensus 12-month target is $3.52 per Koyfin, meaning Morgan Stanley’s $2 target sits below where Virgin Galactic shares currently trade.
The SpaceX Thread and Names Sitting Out SpaceX is actually inside the Intuitive Machines story. Intuitive Machines made a $17 million IM-4 milestone payment to SpaceX during the quarter, and IM-3 is scheduled for a January-to-March 2027 launch window on a SpaceX Falcon 9. Yet SpaceX shares are flat while a key customer surges.
Rocket Lab, AST SpaceMobile and Planet Labs are barely moving despite the two headline gainers. The muted action across the rest of the complex, plus the UFO ETF’s tiny gain, shows the move is narrow.
What to Watch The next tests for Intuitive Machines are whether authority-to-proceed awards get definitized on schedule (management says timing, not demand, is the swing factor for guidance) and whether the coming CLPS 2.0 contract exceeds $10 billion as expected.
For Virgin Galactic, traders can watch for whether the February 2027 service date holds, with the October 2026 captive carry flight test serving as the next tangible catalyst. Positive quarterly cash flow is expected within 2027, but Q3 2026 free cash flow is guided to a $(95) million to $(100) million range.
Contact [email protected] for any questions or corrections.
5 Space Stocks Face a Brutal Correction: Which Ones Are Still Buys?Intuitive Machines NASDAQ: LUNR reported second-quarter revenue of $206 million, more than four times its prior-year result, as the company expanded its satellite manufacturing, lunar-services and national-security operations. Management reaffirmed full-year revenue guidance of $900 million to $1 billion and its expectation for positive adjusted EBITDA.
Chief Executive Officer Steve Altemus said the company ended the quarter with approximately $1.8 billion in backlog and more than 80 spacecraft under contract. The backlog was composed of about 37% civil-space work, 49% commercial-space work and 14% national-security work. Through the date of the earnings call, Intuitive Machines had generated $1.7 billion in year-to-date bookings, including $1.2 billion in new bookings during the second quarter and afterward.
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AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector“This marks the highest quarterly bookings in company history,” Altemus said, adding that authority-to-proceed awards could contribute another $300 million in bookings during the second half as contracts are finalized.
Financial Results and Cash Investment Chief Financial Officer Pete McGrath said quarterly gross profit rose to $36 million from a loss of $12 million a year earlier, supported by a greater contribution from the company’s satellite business and cost and execution efforts across programs. Adjusted EBITDA improved to a loss of $14 million from a loss of $25 million in the prior-year period.
3 Space Stocks That Could Outshine SpaceX After Its IPOOperating loss was $47 million, reflecting higher selling, general and administrative expenses, amortization and a $14.7 million estimated-at-completion adjustment for the IM-4 mission to accommodate payload changes. SG&A expense was $60 million, including approximately $11 million in share-based compensation and $8 million in acquisition-related transaction and integration costs.
Operating cash used during the quarter was $60 million, while capital expenditures were $24 million. McGrath said the company deployed $84 million of cash during the period, citing strategic inventory purchases, infrastructure investments, acquisition-related costs and a $17 million IM-4 milestone payment to SpaceX.
The company ended the quarter with $367 million in cash, including $235 million in net proceeds raised through its at-the-market program during the quarter. McGrath said free cash flow is expected to improve in the second half as investments stabilize and the company receives milestone payments tied to recent awards.
Management said roughly 25% to 30% of backlog is expected to convert to revenue in 2026, with 35% to 40% expected in 2027 and the remainder thereafter. McGrath said the main variable within the company’s 2026 revenue outlook is the timing of contract finalization and revenue conversion rather than demand.
Satellite Manufacturing Awards Build Backlog Intuitive Machines cited several recent manufacturing awards across commercial and national-security markets. During the quarter, the company delivered all 16 satellites supporting the Space Development Agency’s Tranche 1 tracking layer and continued production for Tranche 2. It also has awards for 18 Tranche 3 tracking-layer satellites and an additional 18 satellites supporting AMDT3, part of the Golden Dome architecture.
Altemus said the company has more than 70 IM-300 spacecraft under contract. He described the IM-300 series as a production program with significant commonality across the satellite bus, while other company programs include IM-1300 geostationary communications satellites, lunar landers, orbital transfer vehicles and lunar relay satellites.
In commercial space, Intuitive Machines received an award for three geostationary communications satellites from an undisclosed customer, valued at more than $600 million over the next 30 months. The company also said SiriusXM’s SXM-11 spacecraft launched and deployed during the quarter and was expected to be handed over to the customer later in August.
The company is also discussing strategic partnerships in the emerging orbital data-center market, according to Altemus.
Lunar Programs and Communications Network NASA selected Intuitive Machines for the CS-8 mission during the quarter, extending the company’s lunar delivery schedule beyond 2028 and into 2030. The award represents the company’s sixth mission under NASA’s Commercial Lunar Payload Services, or CLPS, contract. Earlier in the year, Intuitive Machines received the CT-4 mission award.
Altemus said the company expects to pursue additional CLPS opportunities, including two landed missions, a lunar orbiter-surveyor opportunity and the anticipated CLPS 2.0 multi-award contract. He said the proposed CLPS 2.0 contract is expected to exceed $10 billion and support heavier cargo landers.
The company’s IM-3 mission remains scheduled for a January-through-March 2027 launch window aboard a SpaceX Falcon 9. Altemus said the spacecraft is in assembly, integration and testing, with an engine hot-fire test and a delta flight-readiness review planned before launch.
Intuitive Machines also plans to accelerate deployment of its lunar communications constellation. Its Altus-1 lunar communications relay satellite is scheduled to launch on IM-3 in the first quarter of 2027. Rather than deploying the remaining Altus-2 through Altus-5 satellites incrementally on later lunar missions, the company plans to launch the four satellites together in 2028.
Altemus said the revised approach is intended to establish full operational capability ahead of schedule for Artemis-related activity. The network is expected to provide pay-by-the-minute data relay services as well as positioning, navigation and timing capabilities.
Production Capacity and Longer-Term Operations Management emphasized its strategy to build, connect and operate space infrastructure, supported by acquisitions including Lanteris, KinetX, Goonhilly Earth Station and COMSAT. Altemus said these additions expanded the company’s satellite manufacturing, mission operations, navigation and ground-communications capabilities.
The company is increasing manufacturing capacity in Houston, including an additional 75,000 square feet of production and manufacturing space. Altemus said the expanded facilities are intended to support higher lunar-lander cadence and production of the larger Nova-D lander, which is designed to deliver about 500 kilograms of payload to the lunar surface.
Management said the Nova-D program is funded under existing contracts, while future investments may focus on technologies required for heavier cargo landers. The company continues to target recurring revenue from communications, navigation, hosted payloads, mission operations and data services as its infrastructure assets become operational.
About Intuitive Machines (NASDAQ:LUNR)Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.
Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.
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Space stock Intuitive Machines (LUNR -1.86%) tumbled 3% through 11:05 a.m. ET Thursday morning -- but it could have been worse. After reporting a big earnings miss for Q2 this morning, shares were at one point down as much as 16%!
So what went wrong?
Intuitive Machines Q2 earnings (er, loss)
Analysts weren't expecting Intuitive Machines to be profitable in Q2, forecasting $0.09 per share in losses -- but Intuitive tripped over even this low bar. Actual losses for the quarter were $0.29 per share, and Intuitive booked only $206.2 million in revenue, far short of Wall Street's $223.8 million target.
CEO Steve Altemus said the quarter was "strong," with revenue more than quadrupling year over year, but investors weren't impressed. Operating costs more than tripled, interest costs added to the expense, and on the bottom line, Intuitive's net losses nearly doubled to $46.4 million.
The loss per share didn't grow as much -- up only 32% -- but only because Intuitive Machines issued a lot of new shares over the past year, spreading out the losses. (But also with the effect that if Intuitive ever does become profitable, its profits per share will be diluted as well.)
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What's next for Intuitive Machines stock
Not all the news was bad. Intuitive Machines booked $920 million in new contracts in Q2, a 4.5x book-to-bill ratio that promises immense sales growth in coming quarters. Indeed, Intuitive Machines says its order book is now practically overflowing with $1.8 billion worth of work to be done -- enough to keep the company busy for the next two years straight, even if no new contracts are won, at management's $900 million-to-$1 billion forecast for 2026 revenue.
Still, it would be nice to see the company earn at least some profit from all this work.
Rich Smith has positions in Intuitive Machines. The Motley Fool has positions in and recommends Intuitive Machines. The Motley Fool has a disclosure policy.
Intuitive Machines (LUNR) shares opened in the red this morning as a $14.7 million charge made the space exploration company come in shy of Q2 estimates. While LUNR posted a 4x year-on-year increase in its quarterly revenue to a record $206.2 million, and significantly expanded its backlog as well, the number fell notably short of nearly $224 million that experts had forecast.
Intuitive Machines (LUNR -1.45%), a developer of lunar landers and exploration vehicles, went public through a merger with a special purpose acquisition company (SPAC) in Feb. 2023. Its stock started trading at $10 and closed at a record high of $81.99 just a few days later.
At its peak, Intuitive Machines' market cap reached $1.48 billion, which was nearly 19 times the $80 million in revenue it would generate in 2023. That frothy valuation set it up for a steep pullback as investors fretted over its dilutive stock offerings and persistent losses. SpaceX's (SPCX -3.57%) IPO this June also drew investors away from smaller space stocks.
That's why its stock trades at $16 today. But over the past week, its shares have quietly rallied more than 20%. Is the market finally turning bullish on this oft-overlooked stock?
Image source: Getty Images.
How fast is Intuitive Machines growing?
Intuitive Machines generates most of its revenue from its contracts with NASA. It has sent two lunar landers to NASA so far: IM-1 in 2024 and IM-2 in 2025.
IM-1 marked NASA's first successful moon landing since 1972, and it helped Intuitive secure more lunar logistics and near-space network services (NSNS) contracts from NASA. IM-1 and IM-2 weren't flawless missions, since they both tipped over after landing on the moon, but they successfully transmitted data back to Earth before their solar panels ran out of power.
Intuitive plans to launch its third and fourth lunar landers, IM-3 and IM-4, in the second half of 2026 and 2027, respectively. By the end of the second quarter of 2026, its backlog had swelled to $1.8 billion as it secured more contracts from NASA, the U.S. Space Development Agency (SDA), and the Missile Defense Agency. Its acquisitions of Lanteris, which produces satellites and other spacecraft, and Goonhilly Earth Station, a major satellite and deep-space communications facility, should further diversify its business and boost its revenue.
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Initiative Machines' revenue growth has been lumpy since its market debut, due to its dependence on milestone payments, timed missions, and acquisitions.
But from 2025 to 2028, analysts expect its revenue to grow at an 89% CAGR from $210 million to $1.41 billion. They also expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn positive in 2026 and grow at a 47% CAGR to $77 million by 2028. That growth should be driven by its IM-3 and IM-4 launches, the conversion of its growing backlog into revenue, and its expansion into the defense sector.
With an enterprise value of $2.7 billion, Intuitive looks like a bargain at less than three times this year's sales. That's probably why it's finally attracting more attention as SpaceX -- which still trades at 42 times this year's sales -- struggles to stay above its IPO price.
Intuitive Machines, Inc. (LUNR - Free Report) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to a loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -128.57%. A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced a loss of $0.18, delivering a surprise of -157.14%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Intuitive Machines, Inc., which belongs to the Zacks Aerospace - Defense industry, posted revenues of $206.17 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 5.99%. This compares to year-ago revenues of $50.31 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Intuitive Machines, Inc. shares have added about 4.4% since the beginning of the year versus the S&P 500's gain of 13.2%.
What's Next for Intuitive Machines, Inc.?While Intuitive Machines, Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Intuitive Machines, Inc. was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.06 on $248.21 million in revenues for the coming quarter and -$0.43 on $921.09 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Aerospace - Defense is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Aerospace sector, Heico Corporation (HEI - Free Report) , has yet to report results for the quarter ended July 2026. The results are expected to be released on August 25.
This company is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of +19.1%. The consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level.
Heico Corporation's revenues are expected to be $1.34 billion, up 17% from the year-ago quarter.
HOUSTON, Aug. 13, 2026 (GLOBE NEWSWIRE) -- 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, Inc. (NASDAQ:LUNR) will release its second quarter earnings report before the opening bell on Thursday, Aug. 13.
Analysts expect the Houston, Texas-based company to report a quarterly loss of 7 cents per share, versus a loss of 11 cents per share in the year-ago period. The consensus estimate for Intuitive Machines’ quarterly revenue is $221.12 million. It reported $50.31 million last year, according to Benzinga Pro.
On Aug. 4, Intuitive Machines announced it was selected by L3Harris to support the development and production of spacecraft platforms for the Space Development Agency’s AMDT3 mission.
Shares of Intuitive Machines gained 2.9% to close at $16.95 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Roth Capital analyst Suji Desilva maintained a Buy rating and raised the price target from $50 to $75 on May 28, 2026. This analyst has an accuracy rate of 77%. Cantor Fitzgerald analyst Andres Sheppard maintained an Overweight rating and boosted the price target from $26 to $43 on May 19, 2026. This analyst has an accuracy rate of 84%. Canaccord Genuity analyst Austin Moeller maintained a Buy rating and increased the price target from $24 to $41 on May 15, 2026. This analyst has an accuracy rate of 54%. B. Riley Securities analyst Mike Crawford maintained the stock with a Buy rating and raised the price target from $40 to $45 on May 15, 2026. This analyst has an accuracy rate of 81%. Keybanc analyst Michael Leshock maintained the stock with an Overweight rating and increased the price target from $26 to $27 on April 29, 2026. This analyst has an accuracy rate of 75% Considering buying LUNR stock? Here’s what analysts think:
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Market News and Data brought to you by Benzinga APIs
Intuitive Machines is capitalizing on NASA's CLPS program, securing multiple lunar delivery contracts and expanding its backlog to ~$1.1 billion. LUNR's Q1'26 revenue surged due to the Lanteris acquisition, but core CLPS business saw slight YoY decline amid launch delays. Margins remain thin at 16% adjusted gross, with high cash burn ($54.8M in Q1'26) leaving less than 18 months of liquidity at current pace.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in LUNR over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Space stocks are rallying across the board in midday Friday trading, with SpaceX (NASDAQ:SPCX | SPCX Price Prediction) shares leading the group. SpaceX stock is up 11% to $127.49 after a Wall Street upgrade effectively signaled an all-clear following this week’s pullback tied to the company’s post-IPO share-lockup expiration.
The move extends a sharp reversal in sentiment. SpaceX stock had traded as low as $114.56 earlier in the session before turning higher, and intraday volume topped 107 million shares. Moreover, SpaceX’s peers are following the lead higher.
Intuitive Machines (NASDAQ:LUNR) stock is up 9% to $16.25, Rocket Lab (NASDAQ:RKLB) shares are up 8% to $81.56, and AST SpaceMobile (NASDAQ:ASTS) shares are up 5% to $70.68. Meanwhile, Virgin Galactic (NYSE:SPCE) stock is up 6% to $3.12, while Planet Labs (NYSE:PL) shares are up 5% to $23.86.
Argus Upgrade Fuels the Rally The trigger for SpaceX is a fresh Argus upgrade to Buy from Hold with a $160 price target. The analyst cited encouraging early payback on SpaceX’s heavy AI-infrastructure spending, pointing to rapid growth in computing capacity as justification for the more constructive stance.
That reverses the narrative from earlier in the week, when SpaceX stock sold off on the sheer scale of that capital spending disclosed in its first quarterly report since the June IPO. SpaceX founder Elon Musk has outlined a plan to build toward roughly 15 to 20 gigawatts of AI power and computing capacity and to begin launching orbital data centers next year.
Yesterday’s other overhang, the post-IPO share-lockup expiration, has quietly faded as a concern. SpaceX stock is now trading well above where it opened the week, and the Argus note gives fundamental cover to buyers who had been sidelined by dilution fears.
Peers Ride Sector Momentum and a Risk-On Tape With the possible exception of SpaceX, Rocket Lab is the only clear space-sector peer with its own catalyst. The company completed its 92nd Electron mission, its 8th launch for the iQPS Earth-imaging constellation, and Rocket Lab stock is pushing toward a key technical level. The stock is also up 72% over the past year, so today’s advance rides existing momentum.
Intuitive Machines, AST SpaceMobile, Virgin Galactic, and Planet Labs have no major fresh company-specific news today. Their gains reflect sector momentum and a risk-on macro tape rather than individual catalysts.
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The macro backdrop matters. This morning’s July jobs report showed the U.S. economy lost 23,000 jobs versus expectations of roughly an 80,000 gain, with unemployment at 4.1%. The soft print reduced the expectations for a September Federal Reserve interest-rate hike, thereby boosting appetite for long-duration, capital-intensive growth names. Invesco QQQ Trust (NASDAQ:QQQ) shares, which track the NASDAQ 100, are up 1.12%, though the fund holds little direct space exposure.
The ETF Route and the Bear Case For diversified exposure, the Procure Space ETF (NASDAQ:UFO) is up 2% to $47.65. Investors should note the UFO ETF is concentrated and volatile. Planet Labs sits at 6.16% of net assets, and Rocket Lab, Intuitive Machines, and AST SpaceMobile together account for another meaningful slice, making the ETF a leveraged proxy on the same names moving today.
The bull case for SpaceX rests on the Argus thesis: monetization of AI compute capacity is scaling faster than the market feared. The bear case is straightforward, in that the stock is down 15% over the past month, capital intensity is enormous, and the newly unlocked float could still cap upside. Position sizing should reflect that volatility.
What to Watch Now Investors can watch for whether SpaceX stock holds above the $125 level into the close. Follow-on analyst notes and any update on the orbital data center rollout could shape the next share-price moves for the sector.
The near-term setup hinges on whether the Argus upgrade attracts follow-on notes from other sell-side desks. If additional analysts validate the AI-infrastructure payback thesis, SpaceX stock could sustain today’s breakout and pull peers along with it. Conversely, any sign that the post-lockup float is being distributed into strength would quickly cap the rally.
For investors, the takeaway is to treat today’s move as a sentiment indicator rather than an all-clear on fundamentals. SpaceX remains a high-volatility, capital-intensive name where position sizing matters more than entry timing. Peers like Rocket Lab and Intuitive Machines offer their own catalyst paths, but the sector still trades as a high-beta bundle, so a risk-on tape is doing much of the heavy lifting here.
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Intuitive Machines, Inc. (LUNR - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on August 13, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +36.4%.
Revenues are expected to be $219.31 million, up 335.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 8.9% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Intuitive Machines, Inc.?For Intuitive Machines, Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -12.85%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Intuitive Machines, Inc. will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Intuitive Machines, Inc. would post a loss of$0.07 per share when it actually produced a loss of -$0.18, delivering a surprise of -157.14%.
The company has not been able to beat consensus EPS estimates in any of the last four quarters.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Intuitive Machines, Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsVirgin Galactic (SPCE - Free Report) , another stock in the Zacks Aerospace - Defense industry, is expected to report loss per share of $0.6 for the quarter ended June 2026. This estimate points to a year-over-year change of +59.2%. Revenues for the quarter are expected to be $0.1 million, down 75.6% from the year-ago quarter.
The consensus EPS estimate for Virgin Galactic has remained unchanged over the last 30 days. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.
This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that Virgin Galactic will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
HOUSTON, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR) (“Intuitive Machines”, together with its subsidiaries, the “Company”), a leading space technology, infrastructure, and services company, today announced it was selected by L3Harris Technologies (NYSE: LHX) to support the development and production of spacecraft platforms for the Space Development Agency’s Accelerated Missile Defense Tranche 3 (“AMDT3”) mission.
Intuitive Machines will design, build, and deliver 18 advanced spacecraft platforms to enable L3Harris’ advanced missile defense solutions for hypersonic and ballistic missile tracking. The AMDT3 mission supports the Golden Dome for America’s space-based capabilities and will help to advance homeland defense, deterrence, and ensure U.S. space operations remain resilient and responsive.
"AMDT3 builds on a foundation of proven performance and mission trust established through our previous Tracking Layer mission selections. We look forward to continuing to support this important mission with L3Harris and the Space Development Agency," said Intuitive Machines President of Space Systems, Chris Johnson. "We are committed to delivering spacecraft platforms and integrated systems that enable sustained, scalable operations across demanding mission architectures."
AMDT3 will be built on the IM 300 platform, also used for the upcoming Tranche 1, Tranche 2, and Tranche 3 Tracking Layer missions. The IM 300 supports missions ranging from Earth observation, connectivity and defense missions with superior adaptability and efficient manufacturing processes.
About Intuitive Machines
Intuitive Machines is a leading space infrastructure company that builds spacecraft, connects networks, and operates infrastructure-as-a-service for commercial, civil, and national security customers.
With a proven track record across the space domain, the Company, through organic growth and portfolio expansion, has built over 300 spacecraft, delivered over 260 kilograms of payload to the lunar surface, and provided precision navigation expertise that has guided spacecraft across our solar system.
These capabilities form an integrated Build-Connect-Operate infrastructure service company, enabling customers to achieve mission and campaign outcomes through a single prime solution. Intuitive Machines’ technology has been demonstrated across the space domain and is engineered to support the next century of opportunity in space.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations and plans relating to our lunar missions and satellites, including the expected timing of building our satellites and landers, launch and our progress in preparation thereof; our expectations with respect to, among other things, demand for our product portfolio, our submission of bids for contracts; our expectations regarding revenue for government contracts awarded to us; our operations, including our performance on future lunar missions, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; information regarding our expectations on revenue generation and cash. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.
Intuitive Machines is transitioning from a lunar lander provider to a vertically integrated space infrastructure platform, targeting recurring revenue through its Build, Connect, Operate model. LUNR's expanding $1.1B backlog, driven by NASA CLPS and national security contracts, underpins forward revenue visibility and supports a $900M–$1B near-term annual revenue target. Valuation remains execution-dependent, with a forward EV/sales multiple compressing to 3.4x by FY26, but profitability is distant and the stock is sensitive to contract timing and margin progression.
HOUSTON, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR) (“Intuitive Machines”, together with its subsidiaries, the “Company”), a space technology, infrastructure, and services leader, today announced it has completed its previously announced acquisition of Goonhilly Earth Station Limited (“Goonhilly”) and completed the acquisition of COMSAT LLC, world-class deep space communications providers with major ground station assets in the United Kingdom and the United States.
Building on past Goonhilly integration for IM‑1 and IM‑2, the Company intends to leverage its expanded network for upcoming IM‑3 and Altus‑1 missions.
The acquisition strengthens Intuitive Machines’ space infrastructure service with a network of ground stations, increasing visibility across major Earth viewing arcs, enhancing contact opportunities for lunar and deep space missions, and expanding capacity on the Company’s space data network for communications, data transport, and position, navigation, and timing (PNT). Additionally, Goonhilly’s and COMSAT’s civil, commercial, and government customer bases complement Intuitive Machines’ existing customer base and broaden the Company’s reach into adjacent industries.
Goonhilly’s expertise in providing tracking, telecommand, and telemetry services and its commercial deep space communications antenna leadership further strengthens Intuitive Machines’ end-to-end mission support services. The Company previously integrated Goonhilly’s ground station capabilities into its IM-1 and IM-2 missions and intends to employ its expanded space data network and the Goonhilly ground system for the upcoming IM-3 and Altus-1 missions. IM-3, part of NASA’s CLPS initiative, returns Intuitive Machines to the Moon for the third time, while the Altus-1 mission, executed under the Company’s Near Space Network Services contract with NASA, launches the Company’s first lunar data relay satellite.
“Intuitive Machines provides the infrastructure services customers need for their missions in Earth orbit, on the Moon, and across deep space. Integrating Goonhilly and COMSAT expands our space infrastructure with proven ground assets and connected deep space capabilities,” said Steve Altemus, CEO of Intuitive Machines. “By increasing capacity for communications, data transport, and PNT services, we’re enabling customers to execute more complex operations with greater confidence and at a faster cadence for Moon Base and for commercial, civil, and international lunar activities.”
About Intuitive Machines
Intuitive Machines is a leading space infrastructure company that builds spacecraft, connects networks, and operates infrastructure as a service for commercial, civil, and national security customers.
With a proven track record across the space domain, the Company has built more than 300 spacecraft, delivered over 260 kilograms of payload to the lunar surface, and provided precision navigation expertise that has guided spacecraft across our solar system.
These capabilities form an integrated Build, Connect, Operate service model, enabling customers to achieve mission and campaign outcomes through a single prime solution. Intuitive Machines’ technology is engineered to support the next century of opportunity in space.
About Goonhilly
Goonhilly® (Goonhilly Earth Station Ltd) delivers reliable connectivity, data, and intelligence, enabling the safe, sustainable, and secure use of space.
As the world’s most advanced commercial lunar and deep space communications provider, Goonhilly provides Earth-to-space connectivity for spacecraft operating beyond geostationary orbit, facilitating the future of space science and exploration for organisations including ESA and Intuitive Machines.
Goonhilly also utilizes its state-of-the-art assets and expert teams to deliver sovereign radio frequency Space Domain Awareness (SDA) data, assured satcom services, and bespoke antenna development to national security customers.
About COMSAT
A satellite network is only as good as its ground infrastructure. That’s where COMSAT® (COMSAT LLC) comes in. Via its secure international teleports and portfolio of over 90 hosted and leased antennas, COMSAT provides secure and reliable satellite communications services to customers around the world.
COMSAT’s network of US and UK-based satellite ground stations have supported satellite operators, service integrators, downstream data users, and government customers for more than five decades.
Today, the company remains committed to providing scalable solutions and expert on-hand support – delivering connectivity you can trust when it matters most.
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release should be considered forward looking. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, these forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: the transaction with Goonhilly and COMSAT, our expectations and plans relating to Goonhilly and COMSAT; our expectations and plans relating to our missions to the Moon, IM 3, Altus-1, including the expected timing of launch and our progress in preparation thereof; our expectations with respect to, among other things, demand for our product portfolio, our submission of bids for contracts; our expectations regarding revenue for contracts awarded to us; our expectations regarding changes to government contracts or programs; our operations, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; our expectations on revenue and cash generation. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: various risks and uncertainties related to, among other things, the terms, timing, structure, benefits, costs and completion of the transaction with Goonhilly; required approvals to complete the proposed transaction with Goonhilly by the receipt of certain regulatory approvals, to the extent required, and the timing and conditions for such approvals; the satisfaction of the closing conditions to the proposed transaction with Goonhilly; our reliance upon the efforts of our Board and key personnel to be successful; our limited operating history; our failure to manage our growth effectively and to win new contracts; our customer concentration; competition from existing or new companies; unsatisfactory safety performance of our spaceflight systems or security incidents at our facilities; cyber incidents; failure of the market for commercial spaceflight to achieve the growth potential we expect; any delayed launches, launch failures, failure of landers to conduct all mission milestone, failure of our satellites or lunar landers to reach their planned orbital locations, significant increases in the costs related to launches of satellites and lunar landers, and insufficient capacity available from satellite and lunar lander launch providers; our reliance on a single launch service provider; risks associated with commercial spaceflight, including any accident on launch or during the journey into space; risks associated with the handling, production and disposition of potentially explosive and ignitable energetic materials and other dangerous chemicals in our operations; our reliance on a limited number of suppliers for certain materials and supplied components; failure of our products to operate in the expected manner or defects in our products; counterparty risks on contracts entered into with our customers and failure of our prime contractors to maintain their relationships with their counterparties and fulfill their contractual obligations; failure to successfully defend protest from other bidders for government contracts; failure to comply with various laws and regulations relating to various aspects of our business, uncertainty in the regulatory environment and any changes in the funding levels of various governmental entities with which we do business; our failure to protect the confidentiality of our trade secrets and unpatented know how; our failure to comply with the terms of third-party open source software our systems utilize; our ability to maintain an effective system of internal control over financial reporting, and to address and remediate material weaknesses in our internal control over financial reporting; the U.S. government’s budget deficit and the national debt, as well as any inability of the U.S. government to complete its budget process for any government fiscal year, and our dependence on U.S. government contracts and the available funding by the U.S. government; our failure to comply with U.S. export and import control laws and regulations and U.S. economic sanctions and trade control laws and regulations; uncertain global macro-economic and political conditions and elevated inflation and interest rates; our history of losses and failure to achieve profitability in the future or failure to generate sufficient funds to continue operations; the cost and potential outcomes of pending and any future litigation; our public securities’ potential liquidity and trading; the sufficiency and anticipated use of our existing capital resources to fund our future operating expenses and capital expenditure requirements and needs for additional financing; our ability to successfully identify, complete, integrate, and obtain benefits from any acquisitions, joint ventures and other investments; and other public filings and press releases other factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/19482b0e-50f4-4736-8eab-611251a2339d
As the modern space race shifts from exploration to commercial infrastructure, investors are looking to the stars for growth. Choosing between AST SpaceMobile Inc (ASTS +1.16%) and Intuitive Machines Inc (LUNR -0.16%) requires weighing satellite cellular networks against lunar logistics.
AST SpaceMobile focuses on providing global broadband directly to everyday smartphones through a massive satellite constellation. Intuitive Machines provides the critical infrastructure and services needed for lunar exploration and national security missions. While both companies operate in the high-growth aerospace industry, they serve vastly different end markets and carry distinct financial profiles.
The case for AST SpaceMobileAST SpaceMobile builds a space-based cellular network that connects directly to standard smartphones without specialized hardware. It partners with roughly 60 mobile network operators, including AT&T Inc (T +0.11%) and Verizon Communications (VZ +1.27%), to provide global coverage to nearly 3 billion subscribers. Customer concentration like this adds a layer of risk to the business, though these partnerships are central to its long-term scaling strategy.
In FY 2025, revenue reached approximately $70.9 million, a substantial jump from the $4.4 million reported in the prior fiscal year. The company reported a net loss of nearly $342 million for the period. While revenue growth is accelerating as the company begins its commercial rollout, profitability remains a distant goal during this build-out phase.
The current debt-to-equity ratio is roughly 1.2x, showing the company relies more on debt than equity to fund its operations. Free cash flow, which is cash flow from operations minus capital expenditures, was more than negative $1.1 billion for FY 2025, as the firm invested heavily in its proprietary manufacturing and launch capabilities.
The case for Intuitive MachinesIntuitive Machines provides spacecraft, network connectivity, and mission operations for a diverse mix of commercial and government clients. It plays a vital role among defense stocks and civil agencies by managing lunar landers and cislunar data relays. The company faces notable customer concentration, as a significant portion of its revenue is derived from government contracts, such as those with NASA. The company also serves defense customers and recently expanded its satellite manufacturing capabilities through the acquisition of Lanteris.
In FY 2025, revenue reached approximately $210.1 million, down from previous years (sales were $228 million in 2024). The company reported a net loss of nearly $83.3 million during this time, much narrower than 2024’s net loss of $284 million.
As of the December 2025 balance sheet, the debt-to-equity ratio is approximately -0.5x, indicating that total liabilities exceed shareholders’ equity. Free cash flow for FY 2025 was approximately $56 million negative, representing the cash remaining after paying for operations and capital assets.
Risk profile comparisonAST SpaceMobile faces significant risks related to its capital-intensive business model and the constant need for substantial liquidity. The company has a history of net losses and recently pursued a $1 billion convertible note offering in July 2026 to fund its operations. Success depends on the engineering performance of its satellites and its ability to compete against well-funded rivals like Space Exploration Technologies (SPCX -3.58%).
Intuitive Machines deals with high customer concentration, as a significant portion of its revenue comes from government agencies. Any shifts in federal budget priorities or program delays could materially harm its financial standing and project timelines. The company also faces integration risks from its aggressive acquisition strategy and the technical complexity inherent in landing spacecraft on the lunar surface.
Valuation comparisonIntuitive Machines appears to be the more conservatively valued stock based on its P/S ratio, which compares market value to total revenue. Intuitive Machines currently trades at a high multiple of future earnings estimates, a figure often expressed as the Forward P/E. AST Spacemobile does not have a forward P/E because it is not expected to turn a profit in fiscal 2027.
MetricAST SpaceMobileIntuitive MachinesForward P/En/a3,333xP/S ratio188x4.7xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
AST SpaceMobile expects its space-based network to give it a significant business in a few years. Essentially, AST SpaceMobile is a direct-to-device play to provide full mobile phone compatibility for major carriers without the need for specialized equipment. Many of its potential clients are also equity holders in the company, including AT&T, Verizon, Vodafone (VOD -1.80%) , Alphabet Inc (GOOG +6.63%), American Tower (AMT -0.97%) , Bell Canada, Telus (TU -11.56%) , and Rakuten in Japan.
By the end of the year, the company should have 45 satellites, which will allow it to fully service the U.S., and that should start to supercharge revenue growth. For fiscal 2026, Wall Street sees $149 million in sales, jumping to $725 million the following year, when the company is projected to turn its first modest profit. Free cash flow looks to be much more manageable, with analysts expecting positive free cash flow in 2029.
Intuitive Machines, meanwhile, started fiscal 2026 with its strongest quarter in history, delivering record revenue of $187 million. Management says they have an order backlog of $1.1 billion, including $400 million in recent bookings in early 2026. NASA is moving toward a steady access to space flights and deliveries, too, which bodes well for the company’s longer-term sales. Revenue for fiscal 2026 is expected to more than quadruple to $952 million, with a narrower net loss of $66 million. Analysts expect the business to turn a profit for the first time in 2028.
Both AST Spacemobile and Intuitive Machines are exciting young businesses in a thrilling new market sector: space infrastructure. With both a year or two away from profitability, price-to-sales is the best metric to get a promising stock at a good price. That means Intuitive Machines, with its quite reasonable forward P/S ratio of 4.7x, gets the nod for 2026.
HOUSTON, July 28, 2026 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR) (“Intuitive Machines”) (“Company”) announced today that it will release its financial results for the second quarter of 2026 on Thursday, August 13, 2026, before the market opens. Following the news release, the Company will host a conference call the same day at 8:30 am ET to discuss the results.
To participate in the call, please dial (800) 715-9871 (USA & Canada) or (646) 307-1963 (International) and reference Conference ID 2863646.
A webcast replay will be available on the investors portion of the Intuitive Machines website at https://investors.intuitivemachines.com/.
Please visit the Investor Relations website at https://investors.intuitivemachines.com/ on Thursday, August 13, 2026, to view the earnings release before the conference call.
About Intuitive Machines
Intuitive Machines is a leading space infrastructure company that builds spacecraft, connects networks, and operates infrastructure-as-a-service for commercial, civil, and national security customers.
With a proven track record across the space domain, the Company, through organic growth and portfolio expansion, has built over 300 spacecraft, delivered over 260 kilograms of payload to the lunar surface, and provided precision navigation expertise that has guided spacecraft across our solar system.
These capabilities form an integrated Built-Connect-Operate infrastructure service company, enabling customers to achieve mission and campaign outcomes through a single prime solution. Intuitive Machines’ technology has been demonstrated across the space domain and is engineered to support the next century of opportunity in space.
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Archer Aviation is moving toward FAA certification for its Midnight aircraft with heavy backing from major airline and defense partners. Intuitive Machines has established itself as a critical lunar infrastructure provider for NASA and the growing space economy.
Key Takeaways Intuitive Machines is expanding mission planning, navigation and surface operations for lunar missions.LUNR combines mission operations with lunar delivery, communications and surface technologies.Intuitive Machines supports end-to-end lunar missions for government and commercial customers. Intuitive Machines, Inc. (LUNR - Free Report) continues expanding its capabilities in lunar mission operations as it supports an increasing number of commercial and government missions to the Moon. The company integrates spacecraft operations, mission planning, navigation and surface operations to execute complex lunar missions while supporting NASA's long-term lunar exploration objectives. These capabilities position Intuitive Machines as a provider of end-to-end lunar mission services beyond transportation.
Mission operations have become increasingly important as lunar exploration evolves from individual missions to sustained lunar activities. Intuitive Machines continues enhancing its operational expertise across mission planning, flight operations, precision lunar landing and surface mission execution. This integrated approach enables the company to assist customers throughout the entire mission lifecycle while improving operational readiness for future lunar campaigns.
LUNR's operational capabilities also complement its broader lunar services portfolio. By combining mission operations with lunar delivery services, communications infrastructure and surface technologies, Intuitive Machines continues building an integrated platform capable of supporting increasingly sophisticated lunar missions for government and commercial customers.
As lunar exploration activity continues expanding, reliable mission execution will remain critical to long-term success. Intuitive Machines' continued investment in mission operations capabilities positions the company to support more frequent lunar missions while strengthening its role across the evolving cislunar economy.
Companies Expanding Lunar Mission CapabilitiesAerospace companies continue boosting capabilities to support increasingly complex lunar missions. Companies like Lockheed Martin Corporation (LMT - Free Report) and Rocket Lab Corporation (RKLB - Free Report) are also strengthening technologies that support future lunar exploration.
Lockheed Martin continues supporting NASA's Artemis program through spacecraft development, lunar exploration missions and technologies that enable future human and robotic operations on the Moon.
Rocket Lab continues expanding its lunar capabilities through spacecraft design, deep-space mission support and satellite technologies that facilitate scientific exploration and future lunar missions.
Earnings Estimates for LUNRThe Zacks Consensus Estimate for 2026 and 2027 earnings per share suggests a year-over-year decline of 2.38% and growth of 94.78%, respectively.
Image Source: Zacks Investment Research
LUNR Stock Trading at a PremiumLUNR is trading at a premium relative to the industry, with a forward 12-month price-to-sales of 3.31X compared with the industry average of 2.56X.
Image Source: Zacks Investment Research
LUNR Stock Price PerformanceOver the past year, LUNR shares have surged 36.7% against the industry’s 0.1% decline.
The space sector just had the wind knocked out of it. Over the past month, shares of Rocket Lab (RKLB +3.85%) tumbled roughly 24%, while Intuitive Machines (LUNR +0.00%) fell a stomach-churning 40.5%. The irony is that neither drop had much to do with the companies themselves.
So the question for opportunistic investors is a fair one: After that kind of pullback, which of these two is the better buy today?
Image source: Getty Images.
Why did both stocks fall so hard? The main culprit is what traders have dubbed the "SpaceX Effect." When Space Exploration Technologies (SPCX 0.33%) went public last month in a blockbuster listing, investors sold other space names to free up cash for the shiny new giant, and the whole group dropped in unison. Rising interest rates added to the pain, because both of these companies are long-duration bets whose profits sit years in the future -- exactly the kind of stock that gets marked down when money gets more expensive. In other words, the sell-off was largely about sentiment and rotation, not a sudden crack in either business.
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Rocket Lab: The diversified operator Rocket Lab is the more established of the two, and I think that matters. It already earns real revenue launching small satellites on its Electron rocket, and it runs a growing Space Systems arm that builds satellites and components for other customers -- a second engine that keeps money coming in between launches. The big catalyst ahead is Neutron, a larger rocket meant to compete for heftier payloads; the company is targeting a first flight late this year and has already lined up a multilaunch deal with a customer. Its backlog has swelled, which gives some visibility into future work.
The caveat is that Neutron has slipped before, and new rockets are notoriously hard to get flying on schedule. Rocket Lab also isn't consistently profitable yet, so patience is required.
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Intuitive Machines: The lunar pure play Intuitive Machines is the narrower, more speculative bet. Its business is built around the moon -- landing spacecraft on the lunar surface and providing services for NASA's return there. It has developed a meaningful pipeline, including a sizable NASA lunar mission award, a lunar terrain vehicle contract, and near-space communications work, and it bulked up its backlog through an acquisition earlier this year.
But that focus cuts both ways. Intuitive Machines leans heavily on NASA contracts, which makes it vulnerable to shifting government budgets and priorities, and lunar landings are unforgiving -- the company knows firsthand how easily a mission can go sideways. That concentration and risk are big reasons its stock fell the hardest of the two.
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For most investors, I'd lean toward Rocket Lab. It offers something closer to a real, diversified space business -- two revenue streams, a clear next catalyst in Neutron, and a growing backlog -- rather than a single-thread bet on one hard problem. After a 28% haircut, you're paying less for a company that is arguably further along the path to standing on its own.
That said, Intuitive Machines is the higher-torque option. If your goal is maximum upside and you can stomach real volatility, a drawdown on a company with a genuine lunar franchise could rebound sharply if its missions land and NASA funding holds. It's the riskier ticket, but potentially the bigger payoff.
Both of these stocks are cheaper than they were a month ago, largely because of a rotation into SpaceX, not because their prospects collapsed -- and that's precisely the kind of dislocation that can create opportunity. My honest read is that Rocket Lab is the sturdier choice for a long-term investor, while Intuitive Machines suits those who want a swing-for-the-fences lunar bet. Either way, treat these as small, speculative positions in an industry where the timelines are long and the setbacks, as this month showed, can be abrupt.
Intuitive Machines shares are retreating from recent levels. Why are LUNR shares down? What Is Driving Intuitive Machines’ Recent NASA Win?The company recently secured a NASA award worth up to $148.3 million to deliver a production-line-qualified Nova-C lander to the Moon by 2028, including a $68.6 million base plus a $79.7 million performance incentive tied to successful qualification. At the same time, short interest climbed to 37.84 million shares (up from 34.79 million), or 28.85% of the public float, which can magnify day-to-day swings when sentiment turns.
Intuitive Machines’ contract-driven upside is running into a market that’s still punishing high-beta names quickly, and Wednesday’s similar slide came with short interest showing about 2.66 days to cover on average daily volume of 14.23 million shares. That positioning backdrop keeps “good news” rallies fragile when traders lean risk-off.
Critical Price Levels To Watch For LUNRFrom a longer-term trend view, LUNR is still up 43.65% over the past 12 months, but the current chart is heavy because price is sitting below every major moving average in this dataset. The stock is trading 23.7% below its 20-day SMA ($21.07), 42.3% below its 50-day SMA ($27.85), and 15.3% below its 200-day SMA ($18.97), which keeps rallies looking more like "sell the bounce" setups until key averages are reclaimed.
Momentum is best framed through MACD right now: MACD is below its signal line and the histogram is negative, which suggests upside pressure is fading unless buyers can push back above that baseline. The bearish alignment of the 20-day SMA below the 50-day SMA reinforces the near-term downtrend, even though the longer-term golden cross from November 2025 (50-day SMA above the 200-day SMA) remains technically intact.
Key Support: $16.00 — a nearby floor close to current price where buyers previously stepped in. What Is Intuitive Machines and Its Business Model?Intuitive Machines is a space infrastructure and services company focused on enabling sustained human activity beyond Earth, designing, building, integrating, and operating space systems across low Earth orbit, geostationary orbit, cislunar space, and deep space. A core part of the pitch is "infrastructure-as-a-service," spanning spacecraft development and space-based network connectivity for commercial, civil, and national security customers.
LUNR Stock Price Activity Update on FridayLUNR Stock Price Activity: Intuitive Machines shares were down 3.96% at $16.23 at the time of publication on Friday, according to Benzinga Pro data.
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The space economy is transitioning from science project to revenue-generating industry, and July has produced a sharp pullback across the sector leaders. All three names below have sold off sharply over the past month, yet the underlying contract pipelines, spectrum positions, and government awards keep expanding.
Treat this as a high-risk speculative bucket: Every pick is still unprofitable, cash-hungry, and exposed to execution risk on hardware that hasn’t fully proven itself. Here are three space economy stocks worth a hard look this month.
Rocket Lab (RKLB) Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) has become the closest thing to a pure-play space prime outside of privately held SpaceX. Shares traded around $82.28 on July 8 after a nearly 28% one-month decline, yet the stock remains up 6.29% year to date and over 112% over the past year. That pullback reframes the risk/reward setup.
The Q1 FY2026 report was the strongest quarter in company history. Revenue hit $200.35 million, up 63.5% year over year, beating expectations, while EPS of -7 cents topped the -8 cents estimate. Non-GAAP gross margin expanded to 43.0% from 33.4%, and backlog jumped to $2.20 billion, up 20.2% sequentially. CEO Peter Beck framed the position bluntly: “We exited the quarter with $2.2 billion in backlog and currently have access to more than $2 billion in liquidity, putting us in a very strong position for continued growth and M&A execution.”
The forward catalysts stack up. Rocket Lab was selected for the Department of War’s Space Based Interceptor program under Golden Dome for America alongside Raytheon, closed the Mynaric AG laser communications acquisition, and is targeting the Neutron medium-lift debut in Q4 2026. Prediction market sentiment sits at a bullish composite score of 65.11.
The risk: Rocket Lab is still burning cash, ran a $450 million ATM raise in Q1, and Neutron slippage would puncture the thesis. Any hardware failure on the maiden Neutron launch resets the narrative.
AST SpaceMobile (ASTS) AST SpaceMobile (NASDAQ:ASTS) is the highest-conviction moonshot in the group and the most dangerous. The stock traded around $74.44 on July 8, down more than 19% over the past month but up nearly 65% year over year. The pitch is simple: ASTS is building the only satellite constellation designed to connect directly to unmodified smartphones, and it now has nearly 60 mobile network operator partners covering more than 3 billion subscribers.
Q1 FY2026 was ugly on the surface. Revenue of $14.74 million missed consensus of $36.58 million, and EPS of -66-cent missed the -20-cent estimate, dragged down by an $88.65 million induced conversion expense. Still, management reaffirmed FY2026 revenue guidance of $150 million to $200 million and is targeting roughly 45 BlueBird satellites in orbit by year-end 2026. Cash sits at $3.03 billion, which buys years of runway.
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Retail conviction has been rebuilding. A viral r/stocks thread titled “AST SpaceMobile Wins Massive $1B Japan Satellite Program with Rakuten” drove sentiment scores of 82 to 85 in late June, and the ongoing “Tell me why not to buy ASTS” debate thread has kept the name in constant discussion. Composite sentiment reads neutral at 54.84, leaving room for a re-rate if Block 2 launches execute cleanly.
The risk: ASTS is effectively pre-revenue at commercial scale, has posted an EPS surprise as bad as -450% (Q3 2024), and MNO memoranda still need to convert into definitive contracts. Any launch failure on BlueBirds 8 through 10 stops the story cold.
Intuitive Machines (LUNR) Intuitive Machines (NASDAQ:LUNR) is the deep-value option in the space bucket and the one where the drawdown looks most extreme. Shares traded around $17.28 on July 8, down a stunning 42% over the past month, though still up nearly 62% year over year.
The Lanteris acquisition transformed the model. Q1 FY2026 revenue reached $186.73 million, up 198.7% year over year, and the company posted its first positive adjusted EBITDA quarter of $2.67 million. EPS came in at -5 cents, beating the -6-cent estimate. FY2026 revenue guidance is $900 million to $1 billion, with positive full-year Adjusted EBITDA. Backlog reached a record $1.06 billion, and the U.S. Space Force Andromeda IDIQ contract carries an anticipated ceiling of $6.2 billion.
The risk: Cash fell from $582.6 million to $231.6 million in a single quarter, shareholders’ equity is negative $333.4 million, and Reddit sentiment recently collapsed into bearish territory with a score range of 22 to 35 under the viral thread “So did we stop caring about Space now?” Prediction composite sits at a cautious 41.25. Government contract concentration means one budget shift can reset earnings power.
What to Watch Into August The setup into next month is straightforward. RKLB investors will track Neutron pad readiness and any Golden Dome award follow-through. ASTS holders should watch the mid-June BlueBird 8, 9, and 10 deployment translate into orbital operations. LUNR shareholders need to see cash burn stabilize while the Goonhilly Earth Station acquisition closes in Q3. Position sizes here should reflect what these are: high-variance bets on the next decade of space infrastructure.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Rocket Lab didn't make the cut. Grab the names FREE today.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Intuitive Machines shares are sliding. What’s behind LUNR decline? What Is the NASA Contract Catalyst for LUNR?The company recently secured a NASA contract worth up to $148.3 million to deliver a production-line-qualified Nova-C lander to the Moon by 2028, supporting NASA’s accelerated lunar delivery schedule and expanded Moon Base operations under Artemis.
The firm-fixed-price award includes a $68.6 million base for mission execution plus a $79.7 million performance incentive tied to successful product-line qualification.
Short interest also rose to 37.84 million shares from 34.79 million, or 28.85% of the public float, with about 2.66 days to cover based on average daily volume of 14.23 million shares. That elevated short positioning can amplify day-to-day swings in either direction when news hits.
LUNR Technical Analysis: Key Levels to WatchFrom a longer-term trend perspective, Intuitive Machines is still up 58.47% over the past 12 months, but the current setup is heavy: the stock is trading below every major moving average tracked here, including the 200-day SMA at $18.91 and the 20-day SMA at $22.12. It’s also 40.1% below the 50-day SMA at $28.21, which tells you recent price action has been more "sell the bounce" than "buy the dip."
Momentum is best framed through MACD right now: MACD is below its signal line and the histogram is negative, which points to fading upside pressure unless buyers can reclaim that baseline. The bearish 20-day SMA below the 50-day SMA reinforces that near-term downtrend, even though the longer-term Golden Cross (50-day above 200-day) that formed in November 2025 is still technically intact.
Key Resistance: $19.50 — Nearby round-number area that sits just above the 200-day SMA zone, where rebounds can stall. Key Support: $16 — Nearby floor close to current price where buyers previously stepped in. Intuitive Machines is a space infrastructure and services company focused on enabling sustained human activity beyond Earth, designing and operating space systems across low Earth orbit, geostationary orbit, cislunar space and deep space. A big part of the story is "infrastructure-as-a-service," spanning spacecraft development and space-based network connectivity for commercial, civil, and national security customers.
That matters for this week’s NASA award because it fits the company’s push toward repeatable lunar logistics — moving from one-off missions toward a more standardized transport service. Management says it’s scaling manufacturing to support higher-volume production, which is the kind of operational shift that can change how investors think about backlog durability and execution risk.
LUNR Stock Price Action UpdateLUNR Stock Price Activity: Intuitive Machines shares closed Wednesday down 4.65% at $17.02, according to Benzinga Pro data.
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Key Takeaways LUNR has fallen 36.5% in the past month, lagging its industry and the sector.Intuitive Machines faces losses, high mission spending, execution risks and supply-chain pressures.LUNR has NASA-backed growth prospects, but earnings estimates and valuation point to caution. Intuitive Machines, Inc. (LUNR - Free Report) stock has lost 36.5% in the past month, underperforming both the Zacks Aerospace-Defense industry’s growth of 7.3% and the broader Zacks Aerospace sector’s gain of 7.2%. It also came above the S&P 500’s return of 1.6% in the same time frame.
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Other industry players, such as General Dynamics (GD - Free Report) and RTX Corporation (RTX - Free Report) , have delivered a similar stellar performance in the past month. Shares of GD and RTX have risen 10.6% and 12.7%, respectively, in the said period.
LUNR’s recent weak price performance may raise concerns among investors. It is important to evaluate whether the company’s underlying fundamentals can support long-term growth or if near-term pressures could continue to weigh on the stock. Assessing its growth prospects and risks can help investors make a more informed decision.
Headwinds for LUNRIntuitive Machines continues to face profitability challenges as ongoing investments in lunar missions, spacecraft technologies and space infrastructure weigh on its near-term earnings. Although these investments are expected to support long-term growth, they are likely to continue limiting profitability in the near future.
The company also operates in a highly competitive and capital-intensive space industry, where rising research, development and mission-related expenses could pressure margins and cash flows. Additionally, risks associated with mission delays, launch failures and the successful execution of key lunar programs may affect its future growth and financial performance.
Supply-chain disruptions and labor shortages across the aerospace and space industry remain additional headwinds. These challenges could lead to production delays, increased operating costs and slower project execution for Intuitive Machines. Larger aerospace and defense companies such as General Dynamics and RTX continue to face similar supply-chain and workforce constraints, highlighting broader industry-wide challenges. The company also remains exposed to risks related to government contract funding, shifts in budget priorities and delays in mission execution, any of which could weigh on its growth prospects and profitability.
Tailwinds for LUNRIntuitive Machines continues to strengthen its position in the growing lunar economy through new NASA contracts and investments in its operational capabilities.
In June 2026, the company secured a firm-fixed-price contract from NASA worth up to $148.3 million to deliver a production-line-qualified Nova-C lunar lander by 2028. The award supports NASA's Artemis program and reinforces Intuitive Machines' role in future lunar missions.
The company is also expanding its operations. In June 2026, the State of Maryland awarded Intuitive Machines a $1 million Build Our Future Grant to expand its robotics operations into a new 69,000-square-foot facility, supporting upcoming NASA missions and long-term lunar operations.
With expanding government contracts and continued investments in its capabilities, Intuitive Machines is well-positioned to benefit from the growing demand for lunar exploration and space infrastructure.
Estimates for LUNR’s Sales and EarningsThe Zacks Consensus Estimate for LUNR’s 2026 sales implies year-over-year growth of 340.2%. The consensus estimate for its 2026 earnings indicates a year-over-year decrease of 2.4%.
Image Source: Zacks Investment Research
The downward revision in its 2026 and 2027 earnings over the past 60 days suggests investors’ decreasing confidence in this stock’s earnings generation capabilities.
Image Source: Zacks Investment Research
LUNR’s ValuationIn terms of valuation, LUNR’s forward 12-month price-to-sales (P/S) is 4.13X, a premium to the industry average of 2.67X. This suggests that investors will be paying a higher price than the company's expected earnings growth compared with its industry average.
Image Source: Zacks Investment Research
General Dynamics and RTX are trading at a discount in comparison with LUNR. GD’s forward 12-month P/S is 1.81X, while RTX’s forward 12-month P/S is 2.79X.
What Should an Investor do Now?Intuitive Machines is benefiting from growing demand for lunar exploration, supported by new NASA contracts and continued investments in its operational capabilities. These developments strengthen the company's long-term growth prospects and position it well in the expanding space infrastructure market.
However, the company continues to face near-term challenges, including ongoing operating losses, high research and mission-related spending, and execution risks associated with lunar programs. It also operates in a capital-intensive industry where supply-chain constraints and labor shortages could continue to pressure margins and project timelines.
Furthermore, analysts have lowered their earnings estimates for 2026 and 2027 over the past 60 days, reflecting a more cautious outlook for the company's profitability. Given these challenges, it is advisable to avoid the stock at present.
LUNR currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NASA Administrator Jared Isaacman has framed the current moment in stark terms: “We are in a new space race to the lunar surface, and if we fall behind, we may never catch up. If we wake up and see our rival’s taikonauts on the moon before we’re able to return, the blow to American exceptionalism will be so damaging, the shock wave will be felt around the world.” That framing, national security and resources rather than exploration, is now shaping how billions in federal money get distributed. On June 30, NASA turned rhetoric into contracts.
What is actually at stake on the Moon The prize is the lunar south pole. The region is believed to contain water ice that can be converted into rocket propellant, the key to long-term lunar and Mars operations. Whoever establishes a permanent base there first sets the operating rules for a new economy. The US is targeting a crewed lunar landing in 2028 with Artemis IV; China is targeting 2030. China’s Chang’e 7 mission is expected to launch in late 2026 to explore the same south pole region for water ice, and China has already tested its Long March 10A rocket and Lanyue crewed lander and completed assembly towers at Wenchang. Its long-term plan calls for a robotic lunar base by 2035 and a human-inhabited base by 2045, built with Russia and 12 partner nations. NASA’s Artemis II completed a crewed lunar flyby in April 2026, the first crewed deep space mission in 50 years.
The June 30 catalyst: “Episode 2” NASA awarded $590 million in new lunar lander contracts to three companies as part of its Moon Base program’s “phase one,” explicitly framed as “episode 2” in an ongoing series of tranches. The three winners:
1. Astrobotic (being acquired by Voyager Technologies (NYSE:VOYG)) Astrobotic took the largest slice at $297.9 million for two lander deliveries. Voyager currently carries a market cap of roughly $1.79 billion with a $44.73 analyst target. Investors should note the backdrop: Astrobotic’s Peregrine mission failed in Earth orbit in January 2024, and the company is mid-acquisition. VOYG shares closed at $32.25 on June 30 and then rose 9.81% on July 1.
2. Firefly Aerospace (NASDAQ:FLY | FLY Price Prediction) Firefly won $144.2 million for one lander mission. Its Blue Ghost was the first private lander to touch down on the moon intact, in March 2025. Q1 revenue reached $184.9 million on a trailing basis, with an EPS of -4.94. FLY jumped 8.05% on the week and sits 36.76% below its late-May level.
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3. Intuitive Machines (NASDAQ:LUNR) Intuitive Machines received $148.3 million for one lander mission, with analysts projecting 340% revenue growth for 2026. The stock rose 5.8% in after-hours trading and finished the week up 2.1%. Reliability remains an open question: Nova-C has tipped over on two separate missions. Operating margin sits at -10.3% on trailing revenue of $334.3 million.
The broader investable landscape SpaceX (NASDAQ:SPCX) recently completed its IPO and is now the coming centerpiece of the space complex. It began trading on June 12, 2026 at $160.95 and closed at $162 on July 2,. Volatility is a given. Isaacman has said he has “no issue with important partners to NASA being well-capitalized.” SpaceX supplies the Starship lander for the Artemis crewed landing. Blue Origin also won lunar infrastructure contracts in May 2026 but remains private. Diversified investors sometimes look at the Tema Space Innovators ETF (NASA), the State Street Aerospace and Defense ETF (XAR), and the Procure Space ETF (UFO), roughly 16% to 32% higher year to date.
Risk, weighted equally These are pre-profit companies where a single NASA decision can move the stock double digits in either direction. In May 2026, LUNR shares initially rallied then sold off sharply when NASA chose rivals for lunar rover work. LUNR fell 51.2% in one month. VOYG missed Q1 EPS estimates at -3.06, and FLY’s cash balance dropped materially in the quarter. As a newly public mega-cap, SpaceX may pull institutional capital away from smaller space names as portfolios rotate into the larger, more liquid ticker.
The long arc NASA’s stated goal of near-monthly uncrewed landings by 2027 turns this contract cadence structural, not episodic. Early tranche winners are building operational credibility inside a program designed to seed a commercial lunar economy rather than own it. The urgency driving all of it is the same one Isaacman laid out at the top: if Chinese taikonauts reach the south pole first, the strategic and economic map of the next century looks very different. That is the bet retail investors are underwriting when they touch any of these names.
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