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HOUSTON - Intuitive Machines, Inc. (NASDAQ:LUNR) reported fourth quarter results Monday, following which shares were up 2.9% in premarket trading despite a top-line miss.
The space technology company posted revenue of $54.7 million for the quarter, missing the consensus estimate of $57.57 million. This represents a 79% increase compared to $30.6 million in the same quarter last year.
For the full year 2024, Intuitive Machines generated revenue of $228 million, nearly triple the $79.6 million reported in 2023.
However, the company provided 2025 revenue guidance of $250-300 million, below analyst expectations of $342.5 million.
"Just two years ago, we became a public company with a bold vision for the future. Over the past year, we’ve deliberately positioned ourselves for long-term success by expanding our technical capabilities, opening new revenue streams, and fortifying our financial position," said CEO Steve Altemus.
Intuitive Machines ended 2024 with a record backlog of $328.3 million, up 22% year-over-year. The company also reported positive gross margin for the second consecutive quarter.
Looking ahead, Intuitive Machines expects to achieve positive run-rate adjusted EBITDA by the end of 2025 and positive adjusted EBITDA in 2026.
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