Business
Intuitive Machines Reports First Quarter 2025 Financial Results
HOUSTON, May 13, 2025 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, “Intuitive Machines,” or the “Company”), a leading space technology and
About this update from Intuitive Machines, Inc.
[{"type":"text","content":"HOUSTON, May 13, 2025 (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 first quarter ended March 31, 2025. Intuitive Machines CEO Steve Altemus said, “We continue to emphasize execution as we see the administration rethinking how the federal government acquires emerging technologies and services, instigates private-sector innovation, and creates long-term value. We believe Intuitive Machines brings proven performance and speed to market across LTVS, NSNS, and CLPS, with a track record of stretching the federal dollar through innovation that scales.” Highlights Completed Lunar Terrain Vehicle Services (LTVS) preliminary design review in May, incorporating feedback from astronaut assessment, and expanded capabilities in anticipation of NASA’s RFP and award in 2025 with autonomous driving integration and a 1/6g simulator for engineering validationAwarded NASA contract in January under the agency’s Next Space Technologies for Exploration Partnership (NextSTEP 2) in support of NASA’s Moon to Mars architecture to advance lunar surface logistics including cargo and mobility Executed the first two milestones for NASA’s Near Space Network Services (NSNS) contract for $9 million in the first quarter; received additional funding of $18 million for the next two milestones in the second quarter Landed second lunar mission on the south pole region of the Moon, the southernmost lunar landing in history Accomplished payload testing of three Jet Propulsion Laboratory-developed rovers for IM-3; IM-3 lunar mission remains on track for first half of 2026 and will incorporate IM-2 lessons learned Granted $10 million from Texas Space Commission’s Space Exploration and Research Fund to develop an Earth reentry vehicle and microgravity research lab; this technology is expected to serve as key architecture for the Company’s future Moon and Mars sample return missions Performed phase one of the Air Force Research Laboratory’s JETSON contract— the low power nuclear electric propulsion program designed to enable stealth-like satellites; Intuitive Machines is the sole contractor for this program; anticipate exercise of the follow-on option later this yearAchieved $62.5 million of revenue in Q1, up ...