Intuitive Machines — Third Quarter 2026 Earnings Summary

Intuitive Machines reported record third-quarter 2026 revenue of $269 million, driven by satellite production, lunar delivery, and ground communication services. The company achieved a gross margin of $69 million (26%) and generated positive free cash flow of $33 million during the quarter. Backlog reached a record $1.9 billion, an increase of $1.7 billion from the end of 2025, fueled by new awards including NASA's CLPS 2 contract and the Accelerated Missile Defense Tranche 3 constellation. Full-year 2026 revenue is projected to fall between $920 million and $950 million, with the company expecting positive Adjusted EBITDA for the year.