Traders should monitor whether the company can deliver on its aggressive 2026 revenue and EBITDA guidance, especially given declining core revenue and shrinking backlog. The recent capital raises and acquisitions may enable growth, but execution risk remains high.
Price Chart
Executive Summary
Intuitive Machines reported Q4 2025 revenue of $44.8 million, a decline from prior-year levels, with full-year 2025 revenue down 7.8% to $210.1 million. Despite a net loss of $106.8 million, the company highlighted a $56 million improvement in free cash flow usage year-over-year and announced a strong 2026 revenue outlook of $900M–$1B with positive Adjusted EBITDA expectations. Recent acquisitions and a $175M strategic investment signal aggressive growth ambitions.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $44.8 million (down from $54.7 million in Q4 2024)
- Full-year 2025 revenue: $210.1 million (down from $228.0 million in 2024)
- Full-year 2025 net loss: $106.8 million (improved from $346.9 million in 2024)
- Free cash flow improved by $11.7 million YoY to -$56.0 million (from -$67.7 million)
- Company raised 2026 full-year revenue guidance to $900M–$1B and expects Adjusted EBITDA profitability
- Completed $800M acquisition of Lanteris Space Systems in Q1 2026 and secured $175M strategic investment
- Backlog declined to $213.1M as of Dec 31, 2025 from $328.3M in 2024
Financial Impact
Revenue declined 7.8% YoY in 2025, but free cash flow improved by $11.7M. 2026 revenue guidance implies 135-167% growth over 2025. $800M acquisition and $175M investment expand capital base and strategic scope.
Risk Factors
- Revenue and backlog are declining despite optimistic guidance
- Net loss remains substantial, and Adjusted EBITDA was negative $64.2M in 2025
- Heavy reliance on future government contracts and integration of large acquisitions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3258893 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | Press Release | $14.72 $14.79 | ▲ +0.44% | ▼ −0.74% | $14.67 (−0.34%) |
Aug 13, 2026 7w ago | 8-K | $17.56 $14.35 | ▼ −18.28% | ▼ −16.53% | $14.67 (−16.46%) |
Aug 13, 2026 7w ago | Press Release | $17.56 $14.35 | ▼ −18.28% | ▼ −16.53% | $14.67 (−16.46%) |
Aug 3, 2026 8w ago | 8-K | $13.96 $14.72 | ▲ +5.44% | ▲ +6.68% | $14.67 (+5.09%) |
Jul 30, 2026 9w ago | Insider Cluster | $12.25 $16.18 | ▼ −32.08% | ▼ −28.12% | $14.67 (−19.76%) |
Jun 17, 2026 15w ago | Insider Cluster | $22.85 $13.44 | ▼ −41.18% | ▼ −41.71% | $14.67 (−35.80%) |
Jun 8, 2026 16w ago | Insider Cluster | $27.47 $17.85 | ▲ +35.02% | ▲ +36.47% | $14.67 (+46.60%) |
Jun 3, 2026 17w ago | 8-K | $33.83 $19.58 | ▼ −42.12% | ▼ −41.12% | $14.67 (−56.64%) |
May 14, 2026 20w ago | 8-K | $36.52 $26.62 | ▼ −27.11% | ▼ −26.25% | $14.67 (−59.83%) |
May 14, 2026 20w ago | Press Release | $36.52 $26.62 | ▼ −27.11% | ▼ −26.25% | $14.67 (−59.83%) |
US Market Status
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