Intuitive Machines (NASDAQ:LUNR) Posts Earnings Results, Misses Expectations By $0.29 EPS

Intuitive Machines (NASDAQ:LUNR) announced its earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.29), FiscalAI reports. The firm had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million.

Here are the key takeaways from Intuitive Machines’ conference call:

• Acquisitions and scale: Closed KinetX in Oct 2025 and Lanteris on Jan 13, 2026, creating a diversified commercial/civil/defense company and guiding 2026 revenue to approximately $900M–$1B (nearly 5x 2025).
• New operating model and recurring services: Migrating to a “build, connect, operate” strategy centered on the Near Space Network (IM-3 lunar relay launching later this year) to enable subscription-like data relay and higher-margin infrastructure offerings.
• Near-term profitability and cash impacts: Q4 operating loss widened to $33.1M and adjusted EBITDA was negative $19.1M, with acquisition-related SG&A and transaction costs; cash dropped to ~$272M after the Lanteris purchase and capital raise, and free cash flow remained negative though improved year-over-year.
• Backlog and program timing: Combined backlog was estimated at ~$943M (Feb) with ~60–65% expected in 2026, providing visibility, but government budget delays and several major awards (LTV, next CLPS, Golden Dome) remain timing risks that could affect near-term revenue recognition.

Intuitive Machines Stock Down 8.8%

NASDAQ LUNR traded down $1.60 during trading hours on Thursday, hitting $16.51. 2,609,139 shares of the stock were exchanged, compared to its average volume of 10,636,411. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -6.69 and a beta of 1.40. Intuitive Machines has a 12-month low of $6.14 and a 12-month high of $23.32. The stock has a 50-day moving average of $18.42 and a 200 day moving average of $13.86.

Wall Street Analysts Forecast Growth

LUNR has been the topic of several recent research reports. Stifel Nicolaus set a $20.00 price target on Intuitive Machines and gave the company a “hold” rating in a research report on Friday, January 9th. B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, February 17th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group increased their price target on Intuitive Machines from $15.50 to $22.50 and gave the stock a “buy” rating in a report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.80.

Insider Activity at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 1,958,593 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $15.77, for a total value of $30,887,011.61. Following the sale, the chief executive officer directly owned 1,026,402 shares in the company, valued at $16,186,359.54. The trade was a 65.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy Price Crain II sold 200,000 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $16.04, for a total value of $3,208,000.00. Following the completion of the sale, the senior vice president owned 298,435 shares in the company, valued at approximately $4,786,897.40. This trade represents a 40.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,689,913 shares of company stock worth $62,240,781 in the last quarter. 39.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in shares of Intuitive Machines by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company’s stock worth $147,000 after purchasing an additional 1,499 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Intuitive Machines by 144.8% in the fourth quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company’s stock valued at $48,000 after purchasing an additional 1,738 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Intuitive Machines by 15.1% in the fourth quarter. Russell Investments Group Ltd. now owns 14,213 shares of the company’s stock valued at $231,000 after purchasing an additional 1,866 shares during the period. Mariner LLC boosted its holdings in Intuitive Machines by 8.1% during the fourth quarter. Mariner LLC now owns 25,849 shares of the company’s stock worth $419,000 after buying an additional 1,933 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in Intuitive Machines by 6.6% during the second quarter. IHT Wealth Management LLC now owns 36,721 shares of the company’s stock worth $399,000 after buying an additional 2,280 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.