Intuitive Machines’ May Shares Jump 73% After Space Force Win and $49M Acquisition
LUNR•Intuitive Machines secured a Space Force domain awareness contract, tripled Q1 revenue year-over-year and acquired Goonhilly Earth Station and Goonhilly USA for $49M, driving a 73% May share surge. However, sector pullback drove a 16% stock drop after a near-10% ETF decline and SpaceX valuation cut.
1. Contract Win and Revenue Surge
Intuitive Machines landed a Space Force award to provide space domain awareness capabilities, contributing to a tripling of Q1 revenue compared to a year earlier. This combination of military contract and earnings momentum underpinned a 73% increase in share value during May.
2. Goonhilly Acquisition Details
The company agreed to pay $49 million for Goonhilly Earth Station and its U.S. unit, expanding its global ground station network. This asset purchase is aimed at boosting telemetry, tracking and command services for growing satellite operations.
3. Stock Performance and Pullback
After the May rally, shares declined roughly 16% over two days as the Procure Space ETF slid nearly 10% and SpaceX reduced its IPO valuation target. These sector headwinds highlighted ongoing volatility in the public space-equipment market.
