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Intuitive Machines (LUNR) investor relations material
Intuitive Machines Q3 2025 and M&A Announcement earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 and M&A Announcement earnings summary4 Nov, 2025
Executive summary
Announced definitive agreement to acquire Lanteris (Lantera) Space Systems for $800 million ($450M cash, $350M stock), positioning the company as a vertically integrated, next-generation space prime across commercial, civil, and national security markets.
The combination expands operations and capabilities from Earth to LEO, MEO, GEO, Moon, Mars, and deep space, enhancing delivery, data, and infrastructure services.
Lanteris brings over 65 years of experience, 300+ spacecraft delivered, 100+ satellites on orbit, and 99.99% on-orbit availability, strengthening reliability and scale.
Integration expected to unlock new revenue streams, accelerate task orders, and broaden capacity to deliver across multiple domains.
Recent achievements include two successful lunar missions, the KinetX acquisition, and new government contracts supporting deep space and lunar operations.
Financial highlights
Q3 2025 revenue was $52.4 million, primarily from OMS, CLPS, and NSNS programs; Lanteris TTM revenue was ~$630 million.
Combined trailing twelve months revenue exceeds $850 million as of September 30, 2025.
Q3 2025 net loss was $10 million; Adjusted EBITDA was negative $13.2 million, with Lanteris reporting double-digit Adjusted EBITDA margins.
Q3 2025 ending cash balance was $622 million, following a $345 million convertible note offering.
Combined backlog stands at $920 million as of September 30, 2025.
Outlook and guidance
Q4 2025 revenue expected to be in line with Q3, with year-end revenue timing impacted by potential government shutdown.
Combined entity positioned to deliver integrated solutions and capture multi-billion dollar pipeline opportunities, including NASA and defense contracts.
Acquisition expected to be immediately accretive to revenue, adjusted EBITDA, and free cash flow; new outlook for the combined company to be provided in early 2026.
Management expects sufficient liquidity to fund operations and business plan execution for at least the next twelve months.
Expects to recognize 20% of backlog in Q4 2025, 45-50% in 2026, and the remainder thereafter.
How will IM amplify Lanteris' growth momentum?
Identify new markets unlocked by this deal.
Future M&A strategy post-Lanteris deal?
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Next Intuitive Machines earnings date
Q4 202520 Mar, 2026
Next Intuitive Machines earnings date
Q4 202520 Mar, 2026
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Frequently asked questions
Intuitive Machines Inc is an American company specializing in space exploration and related services. The company focuses on developing products and services that enable robotic and human exploration beyond Earth, specifically targeting the Moon, Mars, and beyond. Intuitive Machines is known for its expertise in guidance, navigation, and control (GNC), additive manufacturing, engine development, and communications systems. The company is actively involved in completing its lunar program, which aims to provide access to the lunar surface, delivery to lunar orbit, and communications capabilities at lunar distances. The company is headquartered in Houston, Texas, and its shares are listed on the Nasdaq.
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