Why Intuitive Machines Stock Dropped Today
Key Points
Intuitive Machines missed on earnings this morning.
Management forecast 2026 revenue to more than quadruple after buying Lanteris.
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Intuitive Machines (NASDAQ: LUNR) stock, the space company that returned America to the moon in 2024, tumbled nearly 10% in early trading Thursday before recovering most of its losses in the afternoon.
As of 1:05 p.m., Intuitive Machines stock is down only 1.6%.
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Image source: NASA.
Intuitive Machines Q4 earnings
What caused the slump in the first place? Earnings.
Analysts expected Intuitive Machines to report a $0.06 per share loss in its Q4 report this morning, bringing full-year losses to $0.40 under generally accepted accounting principles (GAAP). The company actually reported a Q4 loss of $59.7 million and a 2025 loss of $106.8 million. On 180.2 million in implied shares outstanding, that works out to a quarterly loss of $0.33 and an annual loss of $0.59.
Ouch.
Free cash flow for the year was negative $56 million. Revenues slumped 18% for the quarter ($44.8 million), and 8% for the year ($210 million).
What it means for Intuitive
With numbers this bad, Intuitive Machines emphasized non-numerical news, reminding investors it landed on the moon for a second time in 2025 (but not mentioning its spacecraft fell over), rehashing its $800 million purchase of Lanteris, and speaking of plans to establish space communications between not just the moon and Earth, but the moon and Mars.
Best of all was the company's promise to deliver 2026 revenue growth to $900 million to $1 billion. At the midpoint, that's well ahead of analyst forecasts for $907 million in 2026 sales. Management notably did not promise to earn a profit, however, and Wall Street wants to see $0.16 per share this year.
That'll be a giant leap for Intuitive. Now we just need to wait and see if they can make it.
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Rich Smith has positions in Intuitive Machines. The Motley Fool has positions in and recommends Intuitive Machines. The Motley Fool has a disclosure policy.
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