Company Introduction
Overview
Intuitive Machines (ticker: LUNR) was founded in 2013 by Stephen Altemus, Kam Ghaffarian, and Tim Crain.
Core Business
Intuitive Machines’ core business is providing lunar exploration services to businesses and governments, with lunar infrastructure demonstrating significant commercial potential. The company recently acquired Lanteris Space Systems and is collaborating with NASA on commercial lunar payload services projects, expanding its capabilities and earning industry trust.
Initial Public Offering
Intuitive Machines went public in February 2023 following its merger with special purpose acquisition company Inflection Point Acquisition Corp.
US Lunar Programs
NASA Contracts
Intuitive Machines has contracted with NASA to develop the Odysseus lunar lander, the first US spacecraft to land on the moon since 1972. NASA has awarded Intuitive Machines five lunar surface delivery mission contracts.
In February 2024 and March 2025, Intuitive Machines’ Odysseus lander successfully achieved a soft landing on the lunar surface, a mission considered partially successful by most industry experts.
Main Contractual Obligations
Intuitive Machines provides Infrastructure as a Service (IaaS) and drives the lunar economy through three main commercial pillars: the transportation and delivery of payloads (satellites, scientific instruments, cargo), including rideshare delivery and lunar surface access; the collection, processing, and interpretation of space-based data through command, control, communications, reconnaissance, and exploration; and basic lunar surface infrastructure. These functions may include navigation, maintenance, scientific data collection, and system health monitoring.
Lunar Terrain Rover
In 2021, Northrop Grumman announced a collaboration with Lunar Outpost, Intuitive Machines, and Michelin to design a lunar terrain rover.
Joint Ventures and Mergers & Acquisitions
Joint Ventures
In April 2023, Intuitive Machines and KBR’s joint venture, Space Networks Solution, secured a five-year contract worth up to $719 million to support NASA’s Joint Polar Satellite System.
Acquisitions
On November 4, 2025, Intuitive Machines announced its acquisition of Lanteris Space Systems from Advent International for $800 million.
Business Orders
Contracts
In the last week of May, NASA announced contracts awarded to several aerospace companies for its ambitious lunar exploration program, triggering a series of positive developments in the aerospace industry.
Also reportedly, Intuitive Machines secured two new contracts totaling $20 million in early May, involving the operation of NASA’s Lunar Reconnaissance Orbiter Camera (LROC) and the ShadowCam instrument aboard the South Korean Pathfinder Lunar Orbiter (KOP). Under the contract, Intuitive Machines will provide a range of services, including imaging operations, data storage and analysis, and mission support.
Backlog
Intuitive Machines is a leader in commercial lunar services, focusing on lunar landing and exploration services. The company has recently secured a large number of contracts, bringing its backlog to $1.1 billion. Since winning more than $428 million in new contracts, Intuitive Machines’ backlog has grown to $1.1 billion.
Company Operations
Q1 2026 result
In the first quarter of 2026, the company’s revenue reached $186.7 million, nearly three times that of the same period last year.
Outlook
In its latest earnings report, management reiterated its full-year revenue guidance of $900 million to $1 billion.
Capital Market Performance
Stock Price Performance
The stock surged more than 110% in 2026.
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