Short answer
Intuitive Machines, Inc. (LUNR) filed its fiscal 2024 10-K annual report with the SEC on Mar 25, 2025. It reported revenue of $228M (+186.7% year over year) and net income of −$283M.
- Top risk flagged: Regulatory risk: Compliance with U.S. federal export control laws impacting lunar infrastructure offerings investment and timeline uncertainty
FY2024 key financial metrics · XBRL
- Revenue
- $228M
- +186.7% YoY
- Net income
- −$283M
- −558.9% YoY
- Operating margin
- -25.2%
- +45.5 pp YoY
- EPS (diluted)
- −$4.63
- −288.2% YoY
- ROE
- 28.1%
- +51.5 pp YoY
- Operating cash flow
- −$58M
- −27.2% YoY
Source: XBRL data from the Intuitive Machines, Inc. (LUNR) FY2024 10-K on SEC EDGAR. USD.
Intuitive Machines, Inc. FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Space technology, infrastructure, and services focused on cislunar economy via delivery, data transmission, and infrastructure pillars
- New emphasis on NSN 2.2 contract: $4.82B NASA lunar communication and navigation satellite constellation awarded September 2024
- Strategic shift to integrated lunar infrastructure: Launch of commercial Lunar Terrain Vehicle (LTV) and Fission Surface Power system development with NASA and Department of Energy
- Quantitative highlights: 4 NASA CLPS awards totalling $430.2M, $116.9M IM-4 lunar delivery contract, $9.5M U.S. DoD AFRL JETSON Low Power award
- Noteworthy milestone: Nova-C lander achieved first U.S. soft lunar landing since 1972 in Feb 2024; IM-2 mission landed near lunar south pole in March 2025 facing solar power recharge challenge
Management Discussion & Analysis
- No information on capital allocation such as buybacks, dividends, or capex
- Forward-looking statements noted with risks and uncertainties mentioned but no specific guidance provided
Risk Factors
- Regulatory risk: Compliance with U.S. federal export control laws impacting lunar infrastructure offerings investment and timeline uncertainty
- Geopolitical/macroeconomic: War in Ukraine and Israel contribute to inflation and supply chain disruptions affecting product/service cost and availability
- Operational risk: Mission delays linked to launch site congestion and integration with SpaceX could hinder growth and revenue realization
- Competitive risk: Superior competitor technology may restrict adoption of Intuitive Machines' lunar services, threatening market share expansion
- Financial risk: Two lunar missions (IM-2 and IM-3) in loss positions with accrued contract losses of $9.9M and $12.5M respectively impacting profitability
Generated from the filing text; verify against the original. How to read a 10-K
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