Welcome to our dedicated page for Intuitive Machines news (Ticker: LUNRW), a resource for investors and traders seeking the latest updates and insights on Intuitive Machines stock.
Intuitive Machines Inc (LUNRW) drives innovation in lunar exploration through advanced engineering solutions and NASA partnerships. This news hub provides investors and space industry observers with essential updates about the company's mission milestones, contract awards, and technological breakthroughs.
Discover comprehensive coverage of lunar lander developments, cislunar communication systems, and government contract announcements. Our curated news collection enables informed decision-making by tracking operational achievements in:
- Mission-critical payload deliveries
- Orbital data service deployments
- Space infrastructure innovations
- Strategic partnership formations
Bookmark this page for real-time updates on Intuitive Machines' progress in advancing sustainable lunar access and next-generation space technologies. Verify all information through official SEC filings and company communications for investment research purposes.
Intuitive Machines (Nasdaq: LUNR) has scheduled its third quarter 2024 financial results release for Thursday, November 14, 2024, before market opening. The company will host a conference call at 8:30 am ET on the same day to discuss the results. Interested participants can register for the call and will receive dial-in details and a PIN number. A webcast replay will be available on the company's investor relations website.
Intuitive Machines (Nasdaq: LUNR) has been awarded a Near Space Network (NSN) contract by NASA for communication and navigation services in the near space region. The contract, valued at up to $4.82 billion, is a Firm-Fixed-Price, Multiple Award, Indefinite-Delivery/Indefinite-Quantity (IDIQ) Task Order Contract with a base period of five years and an additional five-year option.
The contract highlights Intuitive Machines' lunar satellite constellation, which will provide enhanced data transmission services and autonomous operations. This aligns with the company's three pillars to commercialize lunar activities: scaling lunar lander capabilities, establishing a satellite network for data and navigation services, and developing infrastructure for lunar exploration and operations.
As part of the contract, Intuitive Machines will deploy lunar relay satellites and provide essential services for NASA's Artemis campaign to establish a long-term presence on the Moon.
Intuitive Machines (Nasdaq: LUNR) announced key leadership changes effective September 16, 2024. Pete McGrath will transition from Senior VP and COO to Senior VP and CFO. Steven Vontur will move from Interim CFO to Chief Accounting Officer and Controller. Jack Fischer will become Senior VP of Production and Operations.
CEO Steve Altemus emphasized these promotions aim to maintain focus on strategy execution and seamless scaling during the company's rapid growth. McGrath, with 35+ years in aerospace and defense, will lead the finance organization. Vontur, instrumental in the company's public listing, will oversee accounting, reporting, and financial controls. Fischer, a former astronaut and space ops leader, will manage the expanding space infrastructure and services team.
Intuitive Machines (Nasdaq: LUNR) has been awarded a $116.9 million NASA contract to deliver six science and technology payloads to the Moon's South Pole. This marks the company's fourth CLPS contract for lunar payload delivery and data collection. The mission will include payloads such as:
- LEIA: studying yeast response to lunar conditions
- PROSPECT: a European Space Agency-led drill suite
- LRA: a laser retroreflector array for precise distance measurements
- SEAL: investigating chemical responses of lunar regolith
- MAG: characterizing magnetic fields
- L-CIRiS: exploring surface composition and temperature distribution
Intuitive Machines is currently finalizing its second lunar mission, scheduled for late 2024, while preparing for its third mission.
Intuitive Machines (Nasdaq: LUNR) reported strong Q2 2024 financial results, with revenue reaching $41.4 million, up 130% year-over-year. The company raised its full-year 2024 revenue outlook to $210 - $240 million, representing 2.6x - 3x growth from the prior year. Key highlights include:
- Year-to-date revenue of $114.5 million, surpassing all of 2023
- Q2 ending cash balance of $31.6 million, expected to fund operations for the next 12 months
- Zero debt on the balance sheet after paying down $5 million in Q2
- Continued progress on mission two, with expected shipment of the completed lander to the launch site in Q4
- Signed $18 million in commercial rideshare delivery services since Q1
- Submitted letter of interest to commercialize NASA's VIPER rover system
The company's strong performance and operational excellence have positioned it for continued growth in the space exploration and services sector.
SEOPS and Intuitive Machines (Nasdaq: LUNR) have partnered to provide new lunar rideshare services. The agreement enables SEOPS to expand its offerings beyond Low Earth Orbit (LEO) to include destinations like geostationary transfer orbit, the Moon's surface, and various Lagrange points starting after 2025. Intuitive Machines will provide rideshare delivery services, leveraging its lunar exploration missions and commercial asset delivery capabilities.
This partnership allows SEOPS to extend its integration, deployment, and orbital transfer vehicle solutions to a wider range of orbital destinations. The collaboration aims to satisfy growing market demand for lunar missions from both government and commercial customers. SEOPS brings expertise from over 400 satellite deployments and management of 16 rideshare launches, including missions for the U.S. Space Force, NRO, and NASA.
Intuitive Machines (Nasdaq: LUNR) has announced its plans to release second quarter 2024 financial results on Tuesday, August 13, 2024, before the market opens. The company will host a conference call at 8:30 am ET on the same day to discuss the results. Interested participants can register for the call and will receive dial-in information and a PIN. A webcast replay will be available on the company's investor relations website. The earnings release will be accessible on the Investor Relations website prior to the conference call.
Intuitive Machines (Nasdaq: LUNR) has finalized the landing site for its sold-out IM-2 lunar prospecting mission, scheduled for late 2024. The chosen location is a 200-meter diameter elliptical region on the Shackleton Connecting Ridge at the Moon's south pole, selected in collaboration with NASA. This site offers favorable conditions for water ice prospecting, terrain suitability, Earth communications, and solar power generation.
The mission timing is set between November 2024 and January 2025 to align with optimal solar power conditions. CEO Steve Altemus emphasized the importance of this commercial and civil government mission in validating their approach to supporting a deep space economy. Intuitive Machines has $3+ billion in upcoming award decisions across various space-related services.
Intuitive Machines (Nasdaq: LUNR) has achieved a significant milestone in its lunar exploration program by qualifying the VR900 engine for its IM-2 lunar mission. This advancement also propels the development of the Company's larger VR3500 engine for cargo-class landers. Key highlights include:
- Successful full-duration hot-fire test of the IM-2 VR900 engine
- Application of design modifications to the larger engine system
- Utilization of environmentally friendly LOx/LCH4 propellant
- Validation of the propulsion system through deep space ignition on IM-1 mission
- Ongoing $30 million Lunar Terrain Vehicle Services Feasibility Assessment
- Potential for $1+ billion contract down select in mid-2025
- Previous successful test-firing of VR3500 cargo class lander engine
Intuitive Machines, a prominent space exploration, infrastructure, and services company, has been honored by the City of Houston with July 20, 2024, designated as 'Intuitive Machines Day' to celebrate their successful IM-1 lunar landing on February 22, 2024. This event marks the first U.S. lunar landing since 1972.
Additionally, Jack Fischer, Intuitive Machines' Vice President of Production, Operations, and Infrastructure, has been appointed to the Texas Aerospace Research and Space Economy Consortium (TARSEC) executive committee. Fischer will assist the Texas Space Commission in promoting commercial space activities and economic development in Texas. The Texas legislature has allocated $350 million to the Texas Space Commission, with a significant portion directed to the Space Exploration and Aeronautics Research Fund.
Intuitive Machines is proud to represent Houston, Texas, and the United States as it advances space exploration and the cislunar economy.