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Jun 30, 2024
Intuitive Machines Q2 2024 Earnings Report
Intuitive Machines reported financial results for the second quarter ended June 30, 2024, and raised the low-end of full-year 2024 revenue outlook.
Key Takeaways
Intuitive Machines reported a strong second quarter with a 130% year-over-year increase in revenue, reaching $41.4 million. The company raised the low-end of its full-year 2024 revenue outlook to $210 - $240 million. They are now debt free and expect to have sufficient cash to fund operations for the next 12 months.
Achieved $41.4 million of revenue in Q2, up 130% year-over-year.
Raised low-end of full-year 2024 revenue outlook to $210 - $240 million.
Ended Q2 with a $31.6 million cash balance, expected to be sufficient to fund operations for the next 12 months.
Paid down $5 million debt in Q2, becoming debt free in July.
Forward Guidance
Intuitive Machines expects full-year 2024 revenue of $210 - $240 million and anticipates the Q2 ending cash balance will be sufficient to fund operations through the next 12 months.
Positive Outlook
- Expect full-year 2024 revenue of $210 - $240 million, resulting in 2.6x - 3x prior year sales
- Q2 ending cash balance expected to be sufficient to fund operations through the next 12 months
- Continue to add cash reserves based on projected wins and planned operations to execute growth trajectory
- Backlog expansion driven by key upcoming awards; Near Space Network Services (NSNS), the next Commercial Lunar Payload Services (CLPS) award, among others
- Expected shipment of the mission two completed lander to the launch site in the fourth quarter with the launch window extending through the first quarter of 2025
Historical Earnings Impact
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Avg. Return Before/After Earnings
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