Intuitive Machines (LUNR), explained in plain English

🏗️ Building & Infrastructure

Intuitive Machines

(LUNR ↗)

intuitivemachines.com ↗

Houston space company building lunar landers, satellites, and the data networks the next moon era will run on. Revenue *shrank* last year. Backlog just *5x'd* after a big acquisition. The bet is on what comes next.

Updated · Q1 FY26 · May 2026

Chapters

~19

Min read

$210M / yr revenue · ~1.7K employees · public since 2023

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Spice: Serrano (4/5)

More filled = spicier (more aggressive), not "better." Tap a row to see what it means.

What is spice?

Your progress

0 of 6

Growth

~4 min

Lumpy by Design

Revenue went *down* last year. Then their backlog jumped 5x. Both numbers are real.

They're burning $55M a quarter. They have $580M in the bank. Then they raised more.

Almost no US company has soft-landed on the moon. Intuitive Machines did it twice.

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Management

~2 min

Three Founders, Still Here

The three NASA engineers who founded it in 2013 still run it — and own *54%* of the votes.

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Behind the Numbers

~2 min

The Story Behind the Numbers

A revenue dip, a tripling quarter, and a 5× backlog — all explained by one acquisition.

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Risk

~3 min

What Could Break the Brief

Two of the four lunar missions are *losing money.* One major customer is *78%* of revenue. A landing failure could end the story.

↻ Next update · Aug 7

est. Aug 7, 2026 · Q2 FY26 · Intuitive Machines IR ↗

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You're reading the 6 opening chapters. After that, every time Intuitive Machines files a new report, the chapters get updated here.