Intuitive Machines Reports Q4 and Full-Year 2024 Results

Houston, TX, March 24, 2025 -- Intuitive Machines, Inc. (Nasdaq: LUNR), a space technology, infrastructure, and services company, has announced its financial results for Q4 and the full year ending December 31, 2024.

CEO Steve Altemus highlighted the company's strategic positioning for long-term success through expanded technical capabilities, new revenue streams, and a strong financial position. The company reports being financially secure and debt-free.

Key Highlights:

• Executed southernmost ever lunar landing on the South pole region of the Moon and accelerated payload operations (Q1 2025)
• Awarded additional contracts for NASA’s Near Space Network (“NSN”) for Direct-to-Earth (“DTE”) services to regions around the Moon and beyond the Moon
• Continued customer diversification through a contract to adapt our current technologies from our lunar delivery missions to create new capabilities, specifically an in-space orbital transfer vehicle “OTV” for a government customer (Q1 2025)
• Completed an upsized $125 million offering of Class A common stock and concurrent private placement with Boryung Corporation
• Reported record backlog of $328.3 million, a 22% increase year-over-year
• Achieved $54.7 million of revenue in Q4, up 79% year-over-year; $228.0 million for the year, nearly three times 2023 revenue
• Continued drive towards profitability with positive gross margin in Q4 and full year, our second consecutive quarter of positive gross margin
• Ended 2024 with $207.6 million in cash; as of March 10th our cash balance was $385 million

2025 Outlook:

• Full-year 2025 revenue outlook of $250 - $300 million
• Positive run-rate Adjusted EBITDA by the end of 2025; positive Adjusted EBITDA in 2026