Intuitive Machines 2025 Q2 Earnings Strong Revenue Growth, Significant Net Loss

Intuitive Machines (LUNR) reported its fiscal 2025 Q2 earnings on August 7, 2025. The company delivered stronger-than-expected revenue growth but fell short of expectations in profitability. Despite beating revenue guidance with a 20.8% year-over-year increase, the earnings report showed a sharp swing to a net loss. The firm did not raise or lower full-year revenue guidance but indicated expectations for 2025 to fall near the low end of prior forecasts.

Revenue
The company’s total revenue surged by 20.8% year-over-year to $50.31 million in Q2 2025. Fixed price contracts remained the largest revenue contributor, generating $27.53 million, followed by cost reimbursable contracts, which accounted for $21.09 million. Time and materials contracts added $1.69 million to the total. The diversified revenue model highlights the company’s broad range of offerings across various contract types.

Earnings/Net Income
Intuitive Machines swung to a loss of $0.22 per share in Q2 2025, a dramatic 164.7% decline from a profit of $0.34 per share in the same period the previous year. The company reported a net loss of $38.21 million, a 329.4% deterioration from a net income of $16.66 million in Q2 2024. Despite the loss, the quarter marked a record high in net income for a Q2, underscoring the company’s historical performance. The earnings results, therefore, reflect a negative outcome in profitability.

Price Action
The stock price of Intuitive Machines edged up 0.10% during the latest trading day, though it declined sharply over the broader timeframes—tumbling 9.95% during the most recent full trading week and dropping 5.90% month-to-date.

Post-Earnings Price Action Review
Historically, investors who bought Intuitive Machines shares on the day after the company beat revenue expectations and held for 30 days achieved a 99.29% return over the past three years, significantly outperforming the benchmark return of 22.25%. This strategy yielded an impressive 77.04% excess return, with a compound annual growth rate of 67.22% and no maximum drawdown. The performance highlights the stock’s ability to capitalize on positive earnings surprises with a Sharpe ratio of 1.05 and volatility of 63.81%.

CEO Commentary
CEO Steve Altemus emphasized the company’s strong Q2 execution, particularly in in-house satellite manufacturing, which allows for tighter integration with landers and space systems. He highlighted the acquisition of KinetX to improve real-time decision-making for future networks and underscored the strategic M&A focus, particularly in data services and National Security Space. Altemus also noted the company’s strong liquidity position, with $345 million in cash, and a robust pipeline of growth opportunities, both organic and inorganic.

Guidance
Intuitive Machines expects full-year 2025 revenue to fall near the low end of its previous guidance. However, the company anticipates positive adjusted EBITDA by 2026 and is pursuing mission-specific development, including the deployment of its first satellite under the NSNS contract in late 2026.

Additional News
In the three weeks following the earnings report, Intuitive Machines made several strategic moves. The company finalized the acquisition of KinetX, a key asset in enhancing real-time navigation and mission control capabilities for future space networks. Steve Altemus reaffirmed the company’s M&A focus, particularly in data services and National Security Space, signaling continued strategic aggressiveness. Additionally, the firm announced plans to expand its satellite manufacturing capabilities in-house to improve performance control and integration with landers and broader space systems. These developments reinforce Intuitive Machines’ commitment to innovation and long-term growth.