Intuitive Machines, Inc. (LUNR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LUNR SEC filings page.
Intuitive Machines, Inc. (LUNR) reported $490.1M in revenue over the twelve months to Jun 30, 2026, up 116.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue contracted while the operating loss widened, leaving this capital-intensive business dependent on financing rather than internally generated cash.
The net loss narrowed from$283.4M in FY2024 to$83.3M in FY2025 even as the operating loss deepened from$57.4M to$87.2M . That divergence means the improved bottom line did not come from stronger core operations, while operating cash flow improved to a still-negative-$14.3M and remained below the-$56.0M free-cash-flow result.
Capital spending absorbed cash despite the operating-cash improvement: capital expenditures rose to
Liquidity and solvency point in different directions. The current ratio reached 5.0x, but total liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Intuitive Machines, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Intuitive Machines, Inc. has an operating margin of -41.5%, meaning the company loses $42 on every $100 of revenue. This results in a profitability score of 19/100. This is down from -25.2% the prior year.
Intuitive Machines, Inc.'s revenue declined 7.9% year-over-year, from $228.0M to $210.1M. This contraction results in a growth score of 96/100.
Not available for Intuitive Machines, Inc., and counted as zero in the overall score.
With a current ratio of 4.96, Intuitive Machines, Inc. holds $4.96 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 92/100.
Intuitive Machines, Inc.'s operations used $14.3M of cash, and capex of $41.6M added to the outflow, for a free cash flow shortfall of $56.0M. This results in a cash flow score of 6/100.
Intuitive Machines, Inc. scores 0.19, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.1B) relative to total liabilities ($1.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Intuitive Machines, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Intuitive Machines, Inc. reported a net loss of $83.3M while operations used $14.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Intuitive Machines, Inc. reported an operating loss of $87.2M against $4.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Intuitive Machines, Inc. generated $206.2M in revenue in Q2 2026. This represents an increase of 309.8% from the same quarter a year earlier. Against the prior quarter it is up 10.4%.
Intuitive Machines, Inc.'s EBITDA was -$32.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 15.5% from the same quarter a year earlier. Against the prior quarter it is down 23.2%.
Intuitive Machines, Inc. reported -$46.4M in net income in Q2 2026. This represents a decrease of 84.4% from the same quarter a year earlier. Against the prior quarter it is down 24.2%.
Intuitive Machines, Inc. earned -$0.29 per diluted share (EPS) in Q2 2026. This represents a decrease of 31.8% from the same quarter a year earlier. Against the prior quarter it is down 16.0%.
Cash & Balance Sheet
Intuitive Machines, Inc. recorded an outflow of $81.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 197.2% from the same quarter a year earlier. Against the prior quarter it is down 25.6%.
Intuitive Machines, Inc. held $367.4M in cash against $336.4M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Intuitive Machines, Inc.'s operating margin was -22.9% in Q2 2026, reflecting core business profitability. This is up 34.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.
Intuitive Machines, Inc.'s net profit margin was -22.5% in Q2 2026, showing the share of revenue converted to profit. This is up 27.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.5 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Intuitive Machines, Inc. invested $7.7M in research and development in Q2 2026. This represents an increase of 1576.6% from the same quarter a year earlier. Against the prior quarter it is up 38.3%.
Intuitive Machines, Inc. repurchased no shares in Q2 2026.
Intuitive Machines, Inc. invested $24.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 198.8% from the same quarter a year earlier. Against the prior quarter it is up 143.7%.
LUNR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $206.2M+309.8% | $186.7M+198.7% | $44.8M-18.1% | $52.4M-10.3% | $50.3M+20.8% | $62.5M-14.6% | $54.7M+78.7% | $58.5M+359.3% |
| R&D Expenses | $7.7M+1576.6% | $5.6M+513.5% | N/A | N/A | $461K | $911K | N/A | N/A |
| SG&A Expenses | $60.3M+287.2% | $50.7M+232.9% | $41.5M+206.9% | $20.3M+64.6% | $15.6M+41.3% | $15.2M-7.1% | $13.5M+112.1% | $12.3M+24.3% |
| Operating Income | -$47.1M-64.6% | -$39.2M-289.0% | -$33.1M-147.0% | -$15.4M-12.4% | -$28.6M-4.1% | -$10.1M-263.1% | -$13.4M-78.8% | -$13.7M+42.8% |
| EBITDA | -$32.2M-15.5% | -$26.2M-176.6% | -$31.7M-146.5% | -$14.6M-10.3% | -$27.9M-3.0% | -$9.5M-300.4% | -$12.9M-82.1% | -$13.2M+44.1% |
| Interest Expense | $4.5M+6126.4% | $4.9M+18688.5% | $2.7M | $1.3M+10238.5% | $72K | $26K+30.0% | N/A | $13K-94.3% |
| Income Tax | $8K | $2K | $4.0M+30538.5% | $5K-90.0% | $0 | $0 | -$13K+94.8% | $50K-91.7% |
| Net Income | -$46.4M-84.4% | -$37.4M-228.1% | -$39.9M+73.3% | -$6.8M+87.6% | -$25.2M-234.9% | -$11.4M+88.3% | -$149.2M-1870.5% | -$55.4M-266.4% |
| EPS (Basic) | -$0.29-31.8% | -$0.25-127.3% | -$0.35+83.2% | -$0.06+92.8% | -$0.22-164.7% | -$0.11+95.9% | -$2.08-1140.0% | -$0.83-144.4% |
| EPS (Diluted) | -$0.29-31.8% | -$0.25-127.3% | -$0.35 | -$0.06 | -$0.22 | -$0.11 | -$2.08 | -$0.83 |
| Diluted Shares (Avg) | 162M+38.1% | 148M+38.1% | N/A | 118M | 117M | 107M | N/A | 67M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
LUNR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.9B+296.8% | $1.7B+243.6% | $757.2M+113.0% | $753.5M+235.2% | $475.6M+239.4% | $500.0M+192.8% | $355.4M+313.7% | $224.8M+118.3% |
| Current Assets | $662.8M+67.1% | $505.3M+17.1% | $618.8M+111.1% | $666.0M+295.8% | $396.8M+377.4% | $431.3M+272.7% | $293.2M+827.4% | $168.3M+244.2% |
| Cash & Equivalents | $367.4M+6.5% | $231.6M-37.9% | $582.6M+180.6% | $622.0M+594.1% | $344.9M+990.4% | $373.3M+575.7% | $207.6M+4515.5% | $89.6M+120.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $59.9M | $57.9M | $0 | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | $12.2M-72.8% | $23.3M-54.5% | $36.6M-4.4% | $29.3M-16.7% | $44.8M+165.1% | $51.3M+1991.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $379.2M | $379.8M | $18.7M | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $2.2B+154.2% | $2.1B+222.2% | $1.5B+10.8% | $1.2B+60.4% | $856.8M+128.4% | $636.9M-4.1% | $1.4B+292.9% | $721.6M+61.9% |
| Current Liabilities | $399.8M+272.6% | $415.5M+323.3% | $124.8M+26.3% | $106.0M+11.2% | $107.3M+26.2% | $98.1M-6.4% | $98.8M+21.2% | $95.3M-2.4% |
| Non-Current Liabilities | $1.8B+137.2% | $1.6B+203.8% | $1.4B+9.6% | $1.1B+67.9% | $749.5M+158.3% | $538.8M-3.7% | $1.3B+376.2% | $626.3M+79.9% |
| Long-Term Debt | $336.4M | $335.8M | $335.3M | $334.8M | N/A | N/A | $0 | $0 |
| Total Equity | -$290.6M+23.8% | -$334.3M-144.2% | -$755.0M+25.2% | -$404.2M+18.6% | -$381.2M-62.2% | -$136.9M+72.3% | -$1.0B-286.0% | -$496.8M-44.9% |
| Retained Earnings | -$257.1M+26.0% | -$300.8M-190.9% | -$721.5M+27.6% | -$370.7M+23.4% | -$347.7M-56.5% | -$103.4M+78.5% | -$996.5M-300.8% | -$484.0M-46.7% |
LUNR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$57.1M-196.5% | -$54.8M-382.0% | -$7.3M-271.2% | -$7.2M+59.9% | -$19.3M+38.4% | $19.4M+401.4% | -$2.0M+91.2% | -$17.9M-150.3% |
| Depreciation & Amortization | $14.9M+1885.0% | $13.0M+1994.4% | $1.4M+160.6% | $815K+69.1% | $752K+77.8% | $623K+50.5% | $540K+25.0% | $482K+46.5% |
| Stock-Based Compensation | N/A | $8.8M+210.9% | N/A | N/A | N/A | $2.8M-27.6% | N/A | N/A |
| Capital Expenditures | $24.1M+198.8% | $9.9M+61.3% | $15.6M+217.6% | $11.8M+748.5% | $8.1M+265.3% | $6.1M+285.5% | $4.9M+119.6% | $1.4M-81.4% |
| Free Cash Flow | -$81.2M-197.2% | -$64.6M-586.2% | -$22.9M-232.9% | -$19.0M+1.7% | -$27.3M+18.4% | $13.3M+265.6% | -$6.9M+72.0% | -$19.3M-32.0% |
| Investing Cash Flow | -$26.3M-227.1% | -$454.7M-7326.6% | -$30.6M-521.1% | -$11.8M-748.5% | -$8.1M-265.3% | -$6.1M-285.5% | -$4.9M-119.6% | -$1.4M+81.4% |
| Financing Cash Flow | $219.1M+21270.5% | $167.4M+9.9% | -$790K-100.6% | $296.1M+283.1% | -$1.0M-110.5% | $152.3M+150.8% | $124.9M+1179.9% | $77.3M+377.3% |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% |
| Share Buybacks | $0 | $0-100.0% | $0 | $0 | $0 | $20.7M | $0 | $0 |
LUNR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -22.9%+34.1pp | -21.0%-4.9pp | -73.9%-49.4pp | -29.4%-5.9pp | -56.9%+9.1pp | -16.1%-12.3pp | -24.5%0.0pp | -23.5% |
| Net Margin | -22.5%+27.5pp | -20.0%-1.8pp | -89.0% | -13.1%+81.7pp | -50.0%-94.9pp | -18.2% | -272.9% | -94.7% |
| Return on Assets | -2.5%+2.8pp | -2.2%+0.1pp | -5.3%+36.7pp | -0.9%+23.7pp | -5.3%-18.6pp | -2.3%+54.8pp | -42.0%-51.8pp | -24.6%-57.0pp |
| Current Ratio | 1.66-2.0x | 1.22-3.2x | 4.96+2.0x | 6.28+4.5x | 3.70+2.7x | 4.39+3.3x | 2.97+2.6x | 1.77+1.3x |
| Asset Turnover | 0.110.0x | 0.110.0x | 0.06-0.1x | 0.07-0.2x | 0.11-0.2x | 0.13-0.3x | 0.15-0.2x | 0.26+0.1x |
| FCF Margin | -39.4%+14.9pp | -34.6%-55.9pp | -51.2%-38.6pp | -36.2%-3.2pp | -54.3%+26.1pp | 21.3%+32.2pp | -12.6%+67.8pp | -33.0% |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: Shareholder equity is negative (-$755.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Intuitive Machines, Inc. LUNR | FY2025 | $210.1M | -$83.3M | -39.6% | $2.1B | 37/100 |
| EHang Holdings Limited EH | FY2025 | $59.8M | -$39.5M | -66.0% | $309.4M | 50/100 |
| Red Cat Holdings, Inc. RCAT | FY2025 | $40.7M | -$72.1M | N/A | $902.5M | 51/100 |
| Redwire Corporation RDW | FY2025 | $335.4M | -$226.6M | -67.5% | $2.4B | 43/100 |
| Eve Holding, Inc. EVEX | FY2025 | N/A | -$224.3M | N/A | $582.0M | — |
| Mobilicom Limited Warrants MOBBW | FY2025 | $3.4M | -$23.7M | N/A | $1.4B | 40/100 |
Where Intuitive Machines, Inc. Ranks
Frequently Asked Questions
What is Intuitive Machines, Inc.'s annual revenue?
Intuitive Machines, Inc. (LUNR) reported $210.1M in total revenue for fiscal year 2025. This represents a -7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Intuitive Machines, Inc.'s revenue growing?
Intuitive Machines, Inc. (LUNR) revenue declined by 7.9% year-over-year, from $228.0M to $210.1M in fiscal year 2025.
Is Intuitive Machines, Inc. profitable?
No, Intuitive Machines, Inc. (LUNR) reported a net income of -$83.3M in fiscal year 2025, with a net profit margin of -39.6%.
What is Intuitive Machines, Inc.'s EBITDA?
Intuitive Machines, Inc. (LUNR) had EBITDA of -$83.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Intuitive Machines, Inc. have?
As of fiscal year 2025, Intuitive Machines, Inc. (LUNR) had $582.6M in cash and equivalents against $335.3M in long-term debt.
What is Intuitive Machines, Inc.'s operating margin?
Intuitive Machines, Inc. (LUNR) had an operating margin of -41.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Intuitive Machines, Inc.'s net profit margin?
Intuitive Machines, Inc. (LUNR) had a net profit margin of -39.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Intuitive Machines, Inc.'s free cash flow?
Intuitive Machines, Inc. (LUNR) recorded an outflow of $56.0M in free cash flow during fiscal year 2025. This represents a 17.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Intuitive Machines, Inc.'s operating cash flow?
Intuitive Machines, Inc. (LUNR) recorded an outflow of $14.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Intuitive Machines, Inc.'s total assets?
Intuitive Machines, Inc. (LUNR) had $757.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Intuitive Machines, Inc.'s capital expenditures?
Intuitive Machines, Inc. (LUNR) invested $41.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Intuitive Machines, Inc.'s current ratio?
Intuitive Machines, Inc. (LUNR) had a current ratio of 4.96 as of fiscal year 2025, which is generally considered healthy.
What is Intuitive Machines, Inc.'s return on assets (ROA)?
Intuitive Machines, Inc. (LUNR) had a return on assets of -11.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Intuitive Machines, Inc.'s P/E ratio?
Intuitive Machines, Inc. (LUNR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $2.1B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Intuitive Machines, Inc.'s price-to-sales ratio?
Intuitive Machines, Inc. (LUNR) trades at 4.3x sales, its market capitalization divided by revenue of $490.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.1B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Intuitive Machines, Inc.'s debt-to-equity ratio negative or not reported?
Intuitive Machines, Inc. (LUNR) has negative shareholder equity of -$755.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Intuitive Machines, Inc.'s Altman Z-Score?
Intuitive Machines, Inc. (LUNR) has an Altman Z-Score of 0.19, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Intuitive Machines, Inc.'s Piotroski F-Score?
Intuitive Machines, Inc. (LUNR) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Intuitive Machines, Inc.'s earnings high quality?
Intuitive Machines, Inc. (LUNR) reported a net loss of $83.3M while operations used $14.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Intuitive Machines, Inc. cover its interest payments?
Intuitive Machines, Inc. (LUNR) reported an operating loss of $87.2M against $4.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Intuitive Machines, Inc.?
Intuitive Machines, Inc. (LUNR) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.