Intuitive Machines Q2 Revenue Soars to $206M, Backlog Hits $1.8B
LUNR sits 99% above its 52-week low of $7.78.
Summary
Intuitive Machines reported Q2 2026 revenue of $206 million, up over 4x year-over-year, with record backlog of $1.8 billion and full-year revenue guidance of $900M-$1B.
Updates
· Wiseek News — Shares tumbled before partially recovering; EchoStar-related receivables in bankruptcy raise collection risks; 70+ IM-300s under contract.
· Benzinga — Q2 revenue of $206.17M missed the $220.76M consensus; GAAP loss was 29 cents per share versus 7 cents expected. The company affirmed full-year revenue guidance of $900M-$1B, below the $934M estimate.
Key Events · Earnings and Guidance · LUNR
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Record Q2 Revenue
Revenue reached $206 million, up from $50 million in Q2 2025, driven by spacecraft production and acquisitions.
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Backlog Surges to $1.8B
Backlog increased by $1.5 billion from year-end 2025 to $1.8 billion, including a $600+ million contract for three commercial GEO satellites.
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Full-Year Guidance Raised
Company expects full-year 2026 revenue of $900 million to $1 billion and positive Adjusted EBITDA.
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Cash Burn Continues
Net loss was $62.8 million for Q2; free cash flow was negative $145.8 million for H1 2026, though cash balance remains strong at $367 million.
Analysis · LUNR · Manufacturing
Intuitive Machines delivered record Q2 revenue of $206 million, more than four times the prior-year quarter, and expanded backlog to $1.8 billion. The company also issued full-year 2026 revenue guidance of $900 million to $1 billion and expects positive Adjusted EBITDA. However, the quarter still produced a net loss of $62.8 million and negative free cash flow of $145.8 million for the first half, reflecting heavy investment in growth. The stock's reaction will hinge on whether investors focus on the explosive top-line growth and backlog or the continued cash burn.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LUNR was trading at $15.51 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $7.78 to $46.75. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.