Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Intuitive Machines' fiscal Q2 2026 results reflected a full quarter of contributions from the January 2026 Lanteris acquisition, which transformed the company's revenue scale. Management attributes the revenue increase primarily to Lanteris, which contributed $166.7 million across commercial, national security, and civil satellite contracts. However, the bottom line remained under pressure from loss-making CLPS contracts on IM-3 and IM-4 and exposure to EchoStar-affiliated bankruptcy proceedings. Contracted backlog reached $1.76 billion as of June 30, 2026, providing visibility even as profitability remained negative.
Revenue
$206.17M
+309.77% YoY
EPS (Diluted)
-$0.29
-31.82% YoY
Operating Income
-$47.14M
-64.58% YoY
Filed · Source: SEC EDGAR 10-Q filing
Source: SEC XBRL
Intuitive Machines (LUNR) reported Q2 FY2026 revenue of $206.17M, up 309.8% year over year. Operating margin was -22.9%, against -56.9% a year earlier. LUNR's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 0 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | -0.16 | -0.10 | Miss -61.5% |
| Mar 2026 | -0.25 | -0.08 | Miss -232.4% |
| Dec 2025 | -0.23 | -0.07 | Miss -214.6% |
| Sep 2025 | -0.06 | -0.05 | Miss -21.2% |
Adjusted (non-GAAP) EPS of -$0.16 versus the -$0.10 analyst consensus — a -61.5% miss for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was -$0.29.
Compiled by AI from 10-Q Item 2 of this filing
The January 2026 acquisition of Lanteris contributed $166.7 million of revenue in Q2 FY2026, split across commercial satellite contracts ($64.5M), national security contracts ($57.8M), and civil contracts ($44.4M).
Source: 10-Q Item 2 MD&A
In June 2026, the company received an Authorization to Proceed for a multi-satellite program including three additional geostationary communications satellites, with an anticipated aggregate value of over $600.0 million.
Source: 10-Q Item 2 MD&A
As of June 30, 2026, the company had $1.76 billion in contracted backlog and was in active discussions with potential customers to add to it.
Source: 10-Q Item 2 MD&A
Lanteris had about $10.1 million of accounts receivable and $41.4 million of orbital receivables with EchoStar-affiliated entities, with no incremental credit-loss provision recorded as of June 30, 2026.
Source: 10-Q Item 2 MD&A
After quarter-end, 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.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Lanteris had approximately $10.1 million of accounts receivable and $41.4 million of orbital receivables associated with EchoStar-affiliated entities as of June 30, 2026. Although no incremental credit-loss provision was recorded, adverse developments in the Chapter 11 proceedings could trigger credit losses, delayed collections, or contract disruptions.
Source: 10-Q Item 2 MD&A
Both the IM-3 and IM-4 contracts were in loss positions as of June 30, 2026, with accrued contract losses shifting between missions due to cost adjustments. Further unfavorable estimate changes or execution issues could deepen losses.
Source: 10-Q Item 2 MD&A
The August 2026 acquisition of Goonhilly Earth Station Limited exposes the company to UK regulatory compliance, foreign currency fluctuations, tax restrictions, and integration challenges. Failure to integrate or maintain internal controls could adversely affect financial reporting and operations.
Source: 10-Q Item 1A Risk Factors
Potential government shutdowns, continuing resolutions, and shifting budget priorities could delay contract awards, stop-work orders, or payments. The company relies heavily on U.S. government customers and programs.
Source: 10-Q Item 2 MD&A
Elevated interest rates, inflation, supply chain disruptions, and evolving U.S. trade policy including tariffs could raise costs and disrupt the supply chain, even though impact has been limited to date.
Source: 10-Q Item 2 MD&A
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $M | 206.17 $M | 50.31 $M | +309.77% |
Operating Income $M | -47.14 $M | -28.64 $M | -64.58% |
Net Income $M | -46.45 $M | -25.18 $M | -84.44% |
EPS (Basic) $ | -0.29 $ | -0.22 $ | -31.82% |
EPS (Diluted) $ | -0.29 $ | -0.22 $ | -31.82% |
R&D Expense $M | 7.73 $M | 0.46 $M | +1576.57% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
Intuitive Machines (LUNR) posted a dramatic 198.7% revenue surge to $186.7M in Q1 2026, but operating losses widened sharply to -$39.2M as the company absorbed massive new liabilities and negative equity deepened to -$334.3M following a major balance sheet expansion.
Intuitive Machines (LUNR) reported FY2025 revenue of $210.1M (down 7.9% YoY) with a widening operating loss of $87.2M, but significantly improved its cash position to $582.6M through $446.6M in financing activities, including new long-term debt of $335.3M.