Intuitive Machines shares surge as space contracts fuel quarterly revenue

The institution secured further contracts for direct-to-earth services that presumption it to capitalize connected the contract's $4.8 cardinal maximum imaginable value.

Intuitive Machines' direct-to-earth services connection connection and navigation for spacecraft similar lunar landers and orbiters, linking them to Earth's crushed stations to enactment NASA's Artemis programme and sustainable lunar exploration.

Shares of Intuitive Machines person fallen 61% this twelvemonth mostly owed to issues with its 2nd satellite landing.

Earlier this month, Athena landed connected its broadside aft problems with its laser rangefinders, mirroring the aforesaid contented arsenic its archetypal satellite lander.

"While the landing of the IM 2 ngo is unfortunate, we punctual investors that it is not arsenic worldly arsenic the marketplace whitethorn think. LUNR's superior root of gross is not from its motorboat missions, but alternatively from its abstraction contracts," said Andres Sheppard, elder equity expert astatine Cantor Fitzgerald.

The institution posted fourth-quarter gross of $54.6 million, compared with $30.7 cardinal a twelvemonth earlier.

The Houston, Texas-based institution besides confirmed that its 3rd satellite lander mission, IM-3, remains connected way for motorboat successful astir a year.

(Reporting by Kritika Lamba successful Bengaluru; Editing by Maju Samuel)