Intuitive Machines Posts $44.8M Q4 Revenue, Closes $800M Lanteris Acquisition
Intuitive Machines achieved $44.8 million in Q4 2025 revenue with a 19% gross margin and reduced free cash flow use by $11.7 million year-over-year to $56 million. The company closed an $800 million acquisition of Lanteris Space Systems, acquired KinetX, and secured a $175 million strategic investment.
1. Q4 and Full-Year Financial Results
Intuitive Machines reported $44.8 million in revenue for Q4 2025 with a 19% gross margin and improved free cash flow use by $11.7 million year-over-year to a $56 million outflow; the combined backlog reached $943 million at February month-end.
2. Strategic Acquisitions and Investment
The company completed an $800 million acquisition of Lanteris Space Systems and closed the KinetX Aerospace deal, while securing a $175 million strategic investment to advance satellite communications and in-space data processing capabilities.
3. Major Contract Awards
Intuitive Machines began production on SDA’s Proliferated Warfighter Space Architecture tranche 2 tracking layer, finished tranche 1 deliveries, and won a Missile Defense Agency SHIELD IDIQ contract with a $151 billion ceiling, alongside launching EchoStar XXV.
4. 2026 Outlook
Full-year 2026 revenue is projected between $900 million and $1 billion with positive adjusted EBITDA expected, positioning the company for continued growth in lunar and deep space services.