Quarterly report

Summary

This summary has not passed every source check. Confirm figures against the original document.

• Total revenue increased by $155.9 million for the three months ended June 30, 2026 versus the same period in 2025, with the Lanteris acquisition contributing $166.7 million from commercial satellite contracts ($64.5 million), national security contracts ($57.8 million), and civil contracts ($44.4 million).
• As of June 30, 2026 the Company had cash and cash equivalents of $367.4 million and working capital of $263.0 million, and reported contracted backlog of $1.76 billion.
• The January 13, 2026 acquisition of Lanteris Space Holdings LLC (formerly Maxar Space Systems) had aggregate consideration of $853.3 million, consisting of $405.6 million in cash, $43.7 million of transaction bonuses, and 22,991,028 Class A shares valued at $404.0 million.
• On June 2, 2026 the Company established an at-the-market financing facility to sell up to $500.0 million of Class A Common Stock and raised approximately $235.2 million in net proceeds during the second quarter of 2026.
• On August 3, 2026 the Company closed the acquisition of Goonhilly's UK and U.S. operations, with UK consideration of £37,000,000 split equally between cash and stock plus $10.0 million base cash for COMSAT LLC.
• The Company was selected by L3Harris Technologies to support the Space Development Agency's AMDT3 mission, building and delivering eighteen spacecraft platforms using the IM 300 platform.

Why it mattersThe Lanteris acquisition converted Intuitive Machines into a product-and-service revenue company and lifted backlog to $1.76 billion. New financing via a $500.0 million ATM facility and the Goonhilly and AMDT3 awards expand its ground-station and defense satellite footprint.