Shares of Intuitive Machines surged 24% on Monday after the space company reported a significant increase in fourth-quarter revenue, bolstered by higher contracts and a strengthened cash position. The surge in shares follows the announcement of additional contracts for direct-to-earth services, which position the company to benefit from the contract’s potential $4.8 billion maximum value.
Intuitive Machines specializes in providing communication and navigation services for spacecraft, such as lunar landers and orbiters, to link them to Earth’s ground stations, supporting NASA’s Artemis program and lunar exploration efforts. A key revenue driver for the company is its space contracts rather than launch missions, with notable contracts including a $719 million Omnibus Multidiscipline Engineering Services agreement and a $4.82 billion near space network contract with NASA.
The company also reported an increase in its backlog, which grew by $59.8 million to $328.3 million, largely due to new contracts with NASA. Analysts have pointed to Intuitive Machines’ improved financial position and upcoming missions as indicators of future growth. In the fourth quarter, the company posted a revenue of $54.6 million, up from $30.7 million in the previous year, and its cash balance stood at $385 million as of March 10, an increase from $207.6 million at the end of 2024.
Despite a challenging start to the year, with shares dropping 61% largely due to issues with its second moon landing, the company’s financial outlook is strong.
